Research report presented by UnivDatos, Emphasis on Application (Beauty and Personal Care, Food and Beverage, Clothing and Fashion, Entertainment, Health and Fitness), End-Users (Women, Men, Kids), Payment Mode (Online, Offline) and Geographical analysis (key regions and countries).
As per the research report, The Global Subscription E-commerce market is anticipated to reach a market valuation of US$ 478.2 billion by 2025 expanding at an astonishing CAGR of 68.0% in the course of the forecasted period (2019-2025) from US$ 13.2 billion in 2018. While technology has advanced in recent years, it has taken time for people to embrace and integrate it into their everyday lives. Consumer adoption of technical advances has posed a significant obstacle for the e-commerce ecosystem. Subscription e-commerce platforms have gained significant momentum in recent years, as internet retail has exhibited accelerated development in recent years due to its benefits in terms of round-the-clock facilities, decreased reliance on store trips, saving commuting costs, expanding market area, and lowering overhead expenses. More than 85% of the world's internet population has used online shopping sites to purchase items.
With the rising demand for numerous goods and services for everyday use, subscription e-commerce market models have emerged as a viable option for a large online shopper base, as it provides daily needed products on a recurring rather than one-time basis. Subscriptions are often sold regularly, monthly, or yearly, depending on the preferences of the customer. In comparison to customer acquisition, it has been found that regular consumers get more care, resulting in customer retention. Companies that provide subscription-based offerings with the aim of converting one-time subscribers into long-term customers while providing ongoing access to services that they need on a regular basis.
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Furthermore, increased start-up investment, a growing young and working population, the prevalence of smartphones, and the disposable income have all contributed to the market's potential. In the last five years, for example, venture capitalists have been active in raising about $3 million. However, lack of understanding among developed countries, high churn rates, inconsistent billing procedures, and problems with return and refund policies are some of the bottlenecks impeding the global development of the subscription e-commerce industry. Under the numerous applications of the subscription e-commerce industry, beauty and personal care is expected to rise at the fastest rate over the forecast period, owing to evolving lifestyles, growing beauty needs of the female population, and an increase in the number of working women. The emergence of beauty and cosmetics start-ups Glamego and Fabbag, as well as Nykka's experimentation with various subscription models, has significantly increased competition in the respective domain. Over the estimated timeframe, the application is expected to develop at a phenomenal CAGR of 67.2 percent.
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Furthermore, among the various end users of the subscription e-commerce industry, women subscribers accounted for the highest share of 55.89 percent in 2018. Two catalysts driving the increasing acceptance of subscription-based services by women subscribers are time efficiency by minimising daily trips to the store and cost efficiency. By 2025, the sector is expected to generate earnings of US$ 246.6 billion. Furthermore, across the various payment forms of the subscription e-commerce industry, online payments accounted for the majority of the market share, owing to the expanding reach of payment wallets, digitization, and the cashless economy. Over the forecast timeframe, the online segment is expected to develop at a staggering 68.1 percent CAGR.
Furthermore, the study divides the global subscription e-commerce industry into various regions, including North America (US), Europe (United Kingdom, France, Nordics), Asia Pacific (India, China, Japan), and the rest of the world, in order to further investigate and penetrate the market. In 2018, North America was the most profitable and largest region in terms of subscription e-commerce business penetration, accounting for 68 percent of the market. Changing customer preferences have enticed the majority of Americans to try a variety of delivery boxes from mainstream categories such as food, cosmetics, clothes, grooming, and pet products. Furthermore, with more than 70% of subscription-related businesses based in the area and internet providers booming at an exponential rate, the North American subscription e-commerce industry has grown significantly. Furthermore, the subscription e-commerce industry in Europe and Asia Pacific is expected to rise dramatically over the projected period, owing to rising demand for subscription-based services ranging from beauty and personal care to healthcare, entertainment, and food and beverage.
Global Subscription E-commerce Market
Market Insight, by Application
Market Insights, by End Users
Market Insights, by Payment Mode
Market Insight, by Region
North America Subscription E-commerce Market
Europe Subscription E-commerce Market
Asia Pacific Subscription E-commerce Market
Rest of World Subscription E-commerce Market
Top Company Profiles
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