The world has turned into one of subscriptions. No longer do people just purchase things… the subscription model has all but taken over nearly every aspect of our lives.
I have subscriptions to:
- Television & film
- Business services
- and I’m sure one or two things I’ve forgotten
It makes sense from the standpoint of a business in that it normalizes cashflow, builds customer loyalty, increases net spend, lowers accounting costs… tons of benefits.
What about from the consumer point of view? It lowers the cost of individual items, lowers the ‘hassle’ factor, provides dependable levels of product/service delivery… there are great benefits there also.
So what is next? What industries will move to adopt the subscription model? What industries could be transformed by them? Healthcare? Auto makers? Housing? Food?
Look for some major disruptive changes to shake up industries that haven’t figured out subscriptions yet. It is coming and there will be billions made and lost because of it.
by Chris Doelle