With the holidays approaching, consumers are beginning to brainstorm creative gift ideas. And brands are looking for new ways to increase year-end sales and connect with customers for the long haul. Many retail brands are leveraging subscription services as an innovative way to target new audiences, increase customer lifetime value and deepen customer relationships.
The benefits of subscription services are abundant, especially for certain industries. “Some of the most popular categories that we’ve seen over the last couple of years are food subscriptions, followed by beverages and electronics, health and fitness, fashion and beauty and grooming,” sticky.io Marketing VP Thomas Marks told Retail Dive.
Marks explained that brands should design their subscription services to be as convenient and seamless as possible for consumers. “Don’t just give the buyer a two-month subscription, give them the option to make it a three-, four- or five-month subscription to increase that value,” he said.
Along with offering subscriptions that pique customer interest and allow for flexibility, Marks said the business model empowers retailers to effectively up sell, cross-sell and follow-up with additional products and services after the holidays – extending customer lifetime value and creating lasting bonds.
See more ways retailers can ring up sales with subscriptions by reading the full Retail Dive article here.
Discover how sticky.io partners with retailers to achieve their subscription aspirations. Request a demo today to get started.