We’ve seen our fair share of shocking headlines recently: tenuous IPOs, the “retail-pocalypse” and a fickle market have served to reset the way we size up subscription businesses. Recurring revenue models have their pitfalls and 2019 has certainly taught the industry a few lessons.
In the new year, retention is set to be a top priority for companies looking to keep customers engaged and driving growth. From niche products to personalization, how companies deliver on and measure the success of their customer experience will separate successful subscription businesses from the next unflattering news story. These seven trends will emerge to shape the way companies delight and retain customers in 2020.
More Mainstream Brands Will Embrace the Subscription Model
We’ve all seen the articles detailing the financial fall of many brick-and-mortar stores. The “retail-pocalypse” predicted years ago is coming to fruition as we’ve watched household names like Sears, Toys ‘R’ Us and Barneys New York consider bankruptcy or go up for sale. The shifting retail industry presents an opportunity for traditional companies to fully embrace recurring revenue models. We’ll see big brands like Nike Inc. and Ikea continue to experiment and expand innovative subscription offerings. For struggling brick-and-mortar businesses, subscription services could very well
In the new year, retention is set to be a top priority for companies looking to keep customers engaged and driving growth. From niche products to personalization, how companies deliver on and measure the success of their customer experience will separate successful subscription businesses from the next unflattering news story. These seven trends will emerge to shape the way companies delight and retain customers in 2020.
More Mainstream Brands Will Embrace the Subscription Model
We’ve all seen the articles detailing the financial fall of many brick-and-mortar stores. The “retail-pocalypse” predicted years ago is coming to fruition as we’ve watched household names like Sears, Toys ‘R’ Us and Barneys New York consider bankruptcy or go up for sale. The shifting retail industry presents an opportunity for traditional companies to fully embrace recurring revenue models. We’ll see big brands like Nike Inc. and Ikea continue to experiment and expand innovative subscription offerings. For struggling brick-and-mortar businesses, subscription services could very well