Are you planning to create a subscription-based E-Commerce platform? Great Idea! Subscription model has become a need to stay competitive in the last few years. Subscription e-Store lets you boost sales by allowing users to pay for premium content.
Subscription model grants more reliable income in comparison to recurring revenue. Once your subscribers pay monthly or annual fee, you don’t have to worry about generating monthly income.
There are several reasons behind subscription eCommerce popularity.
Acquiring a new customer is a challenging job. Subscription eCommerce model eliminates the need to acquire new customer in the first place. You can retain a good number of customers and increase your revenue by upselling or cross-selling relevant products. Higher customer retention means improved business stability and loyal customers.
Unlike the pay-once model, a subscription model eliminates the uncertainty about replenishing inventory. You know exactly which items to be refilled, in what quantity, and how frequently. When you know the number of subscribers, it isn’t challenging to analyze your total turnover. Ultimately, it will focus on acquiring new customers rather than managing the inventory.
With eCommerce evolving continuously, subscriptions are becoming the new normal. Starting from entertainment to health— customers have started preferring subscriptions in their daily lives. Irrespective of your offerings, adopting the subscription model will not only help maximize your revenue but also increase customer satisfaction.
OrangeMantra subscription eCommerce solutions can help you grow your business in leaps and bounds.
The model is best suited for development projects that have definitive requirements with the least likelihood of changes during the project progression.
This one works for large projects that are likely to extend long-term and billing is done periodically, such as 2-4 weeks or monthly.
Apt for small and short-term project, the hourly model has its billing done according to the number of hours spent by the team.
Our eCommerce developer serves all the major industries. Here are some of the top industrial domains.