In the past two years, we’ve seen a pretty neat trend happening that is fueling the growth for the subscription billing space. While it’s been well-documented that more and more products put into the market for consumption are Subscription-based (monthly charge for a service), the vast array of companies bringing this to market is nothing short of mind-boggling.
Sure, we all know about the Netflix, Hulu, and Amazon Prime type of memberships. This is the market I envisioned as the potential target space when I first joined Aria. But there are so many more types of services that are coming forward.
Even Amazon is offering subscriptions to many of their products. For example, for $4.99 a month, you will get six rolls of toilet paper shipped to you. For $12.95, you can get three boxes of cereal shipped to you every month. These are goods that will always be in continuous demand.
On the other end of the spectrum, there is a subscription service for luxury items. I belong to a subscription service for $70/month that ships a piece of designer clothing to my door every month (What can I say? I’m lazy and I hate shopping).
This bears the question – what’s next? There’s even a subscription offering for renting a dog for a certain number of hours per month. The possibilities are truly endless. One thing is for sure, however, startup companies will always innovate, and things we never thought would be available via subscription will be in a short time. Anyone want to venture some guesses as to what the next big subscription offering might be?
– Nik Divakaruni
Just learning about subscription billing? Download the new Subscription Billing for Dummies book and learn more. Are you concerned about buying the right subscription commerce solution for your company? Consider downloading the Six Key Buying Considerations e-Paper and make an educated decision on the future of your recurring revenue offering.