No matter what your business, repeat or returning shoppers represent a great opportunity for sales. According to Hitwise report, Subscription commerce is one of the fastest growing online segments, and traditional merchants like Starbucks Corp. and Sephora USA Inc. are adding the subscription box models to their repertoire.
“Consumers who came of age in the digital era are accustomed to subscriptions models for online media (Netflix), music (Spotify) and news (New York Times online), but ironically for them subscribing to something in the physical world is exciting and new,” says Hitwise senior analyst John Fetto.
Subscription commerce solutions are the sure shot winners for effective and efficient e-commerce ventures. The perceived success of some high-profile businesses using the subscription commerce model has spurred many people to launch their own services in creative niches and in different countries around the world. When you have a subscription commerce in place, your e-commerce will surely have more order predictability, less retention spend and higher revenues.
Today, subscription or recurring product lines in eCommerce are more than just a fad. However, choosing a Subscription commerce platform can be difficult as there are many factors to be considered. You need to approach a Magento support company for the best options. When you look at your subscription business, your choice becomes easier because there are a few good platforms that support recurring payments.
CrateJoy – It is an all-in-one platform for running a subscription box business with a strong range of subscription-focused features, including refer-a-friend campaigns, analytics and shipment management.
Magento – an open source shopping cart system, having very extensive e-commerce functionality. Out of the box, the platform has limited support for subscription billing but some third party providers sell extensions offering extra subscription functionality.
WooCommerce – another open source shopping cart system, based on the WordPress platform.
You can have a subscription commerce website built from scratch using a technology such as Ruby on Rails or PHP. If you are building such website, you can integrate a dedicated recurring billing management system as it will do a lot of the subscription management legwork that would otherwise require extensive custom development work.
easy for merchants to implement and manage. Subscription commerce, also known as SubCom is a cross-platform module which helps you turn your regular eCommerce into boxed commerce to drive more revenue. It gives you the flexibility of creating subscription packages aka boxes for your customers to subscribe on regular intervals, which extends Magento abilities further. SubCom is the next-gen eCommerce platform that ensures recurring revenue from your loyal customer base.
With Subscription Commerce, business owners will benefit from:
1. Being in touch with loyal customers
2. Growing goodwill by better serving top customers
3. Earning promotion by word of mouth
4. Having a recurring opportunity to promote additional products
5. Generating recurring revenue with minimal sales efforts
6. Helps you with steady and predictable sales
7. Marketing budgets and sales team are freed to target new prospects
8. Increases your customer’s lifetime value
9. Boosts customer engagement
10. Streamline operations
At Krish Technolabs, we have an innovative desire to evolve the Magento e-commerce platform. We develop customizable solutions for traditional subscriptions as well as recurring e-commerce functionality with the ability to subscribe via major payment gateways.
The Subscription Commerce solution from Krish Technolabs offers a quick time to market with only a simple installation needed. Whether you’re B2B or B2C, keep your ecommerce business most competitive and innovative. Choosing products and services with a residual need and offering subscription to the customers are merely the next level of building a residual revenue.
Are you ready to go to the next level? For more information on Subscription Commerce, please do not hesitate to contact us @ [email protected].
As Head - Digital Marketing, Zenul leads the marketing and branding at Krish. He brings with him an in-depth understanding of the evolving digital ecosystem and has a proven expertise and experience in strategic planning, market and competition analysis, creating and implementing client-centered, lead-gen and brand marketing campaigns. He has a heart for technology innovation and has been a keynote speaker on various platforms.
21 December, 2022 After WooCommerce, Shopify is the 2nd most loved and used eCommerce platform worldwide. Shopify is an entirely feature-rich eCommerce platform. It offers many drag-and-drop options, and its apps work tremendously for store owners. In addition, Shopify is easy to use as it doesn't require depth coding.
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