The Subscription E-commerce Global Market Report 2023 by The Business Research Company, provides subscription e-commerce market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Subscription E-commerce Global Market Report 2023, the global subscription e-commerce market size will grow from $119.4 billion in 2022 to $196.35 billion in 2023 at a compound annual growth rate (CAGR) of 64.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of subscription e-commerce is expected to grow to $1482.11 billion in 2027 at a CAGR of 65.8%.
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.
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The subscription e-commerce market 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
Strategic partnerships and collaborations are a key trend followed by the companies operating in the subscription e-commerce market. A large number of e-commerce platforms operate in the e-commerce subscription market. Collaboration enables them to extend their market share and gain a competitive edge in the market. For instance, in April 2021, Adobe and FedEx collaborated to drive innovation in e-commerce with the integration of ShopRunner, an e-commerce platform and subsidiary of FedEx, with Adobe Commerce. In October 2020, Titktok announced a global partnership with Shopify. The partnership will help Tiktok move into e-commerce by including other in-app shopping features and enable Shopify to reach the younger TikTok audience to drive sales.
Major Players:
The subscription e-commerce market report table of contents includes:
1. Executive Summary
2. Subscription E-commerce Market Characteristics
3. Subscription E-commerce Market Trends And Strategies
4. Subscription E-commerce Market – Macro Economic Scenario
5. Subscription E-commerce Market Size And Growth
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26. Africa Subscription E-commerce Market
27. Subscription E-commerce Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Subscription E-commerce Market
29. Subscription E-commerce Market Future Outlook and Potential Analysis
30. Appendix
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