Subscriptions: A model for retail?
Subscriptions are established and successful in many areas of daily life, for example in local transport, streaming services and cultural offerings.
How can you benefit from this in retail?
💎 For customer loyalty via a subscription, a product is expected that is consistent in its quality or even constantly optimised. It can be physical products that are regularly delivered, for example food, wood pellets, fertiliser, etc., or services.
💎 When it comes to services, the customer likes to be declared a ‘VIP’ or ‘premium member’. This in itself suggests an elevated standing of the retailer to the customer, but should also include useful features.
💎 For a continuous flow of payments, one can, for example, reduce delivery costs, offer faster support (also on site) or other services that serve the convenience of the customer.
👉 ‘I don’t want to have to worry about anything’ is worth a regular payment to many customers, provided the services offered are attractive enough.
More service for loyal customers. The model has proven itself!