The retail subscriptions industry is losing momentum as economic pressures cause subscribers to shift behaviors and reevaluate their subscriptions. PYMNTS’ research identifies “loyalists” as a crucial subscriber group responsible for 79% of total revenue for retail subscription firms. These customers are discerning, expecting feature-rich and...
Despite economic uncertainty, retail product subscriptions have proven resilient. February 2023 saw an 11% increase in retail product subscribers compared to September 2022, suggesting that the subscription market remains robust. For “Subscription Commerce Readiness Report: Bridging the Gap Between Subscription Conversion and Retention,” a PYMNTS...
September 06, 2023
The most lucrative retail subscription customers are discerning consumers who fall into two groups: multi-model subscribers with a balanced portfolio of different subscription types and VIP subscribers attracted to special membership tiers. Subscribers in these groups represent the greatest lifetime value (LTV), on average, among the various subscriber groups we identified. PYMNTS’ latest data reveals […]
