The Subscription E-commerce Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Subscription E-commerce Global Market Report 2024, The subscription e-commerce market size has grown exponentially in recent years. It will grow from $199.41 billion in 2023 to $330.58 billion in 2024 at a compound annual growth rate (CAGR) of 65.8%. The growth in the historic period can be attributed to convenience and time-saving, personalization and curation, discovery and exploration, loyalty and retention, diverse product categories, flexible subscription plans.
The subscription e-commerce market size is expected to see exponential growth in the next few years. It will grow to $2227.63 billion in 2028 at a compound annual growth rate (CAGR) of 61.1%. The growth in the forecast period can be attributed to enhanced customer experience, sustainability focus, mobile app accessibility, supply chain optimization, innovative product offerings. Major trends in the forecast period include specialized subscription boxes, rental and try-before-you-buy models, artificial intelligence (AI) and predictive analytics, flexible subscription models, integration with lifestyle trends.
The rapid growth of online shopping will contribute to the growth of the subscription e-commerce market going forward. The benefits of online shopping over retail purchases are shifting consumer preferences towards online shopping, especially those who opt for a subscription with additional benefits. Customers prefer to shop online because it increases convenience, reduces reliance on store visits, lowers travel costs, expands market space, lowers overheads, lowers costs, provides detailed information about products and services, and enables price comparisons, availability in a wide range of products, customer satisfaction, and the absence of crowds. For instance, in 2021, the US Census Bureau of the Department of Commerce estimated $222.5 billion in US retail e-commerce sales during the second quarter, a 3.3% increase from the previous quarter. The increasing growth of online shopping will boost the demand for subscription e-commerce market.
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The subscription E-Commerce market covered in this report is segmented –
1) By Types of Subscriptions: Service Subscription, Subscription Box, Digital Content Subscription, Other Subscriptions
2) By Payment Mode: Online, By End Users: Women, Kids
3) By Application: Beauty and Personal Care, Food and Beverage, Clothing and Fashion, Entertainment, Health and Fitness, Other Applications
Major companies operating in the subscription e-commerce market are focusing on developing technological advancements such as AI-powered subscription tiers to provide a more personalized and authentic learning experience for their users. AI-powered subscription tiers refer to a pricing model where access to Artificial Intelligence (AI) resources is offered through tiered payment plans. For instance, in March 2023, Duolingo, a US-based technology company, launched a new subscription tier with special AI features to enhance the language learning experience significantly over the free and Super plans. Duolingo Max utilizes OpenAI’s GPT-4 technology to provide more personalized and authentic learning experiences. The new features, such as Explain My Answer and Roleplay, are designed to offer users more interactive and insightful practice.
The subscription e-commerce market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Amazon.com Inc
- Apple Inc.
- Costco Wholesale Corporation
- The Home Depot Inc.
- The Kroger Co
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