Stay-at-home lifestyle drives online subscriptions market surge

Tuesday 5 January 2021 11:59 CET | News

Mercator Advisory Group has released its Subscription Economy Accelerates as Stay-At-Home Lifestyle Spurs Demand report, that sizes up the US online subscriptions market and its future direction.

According to the press release, the subscriptions economy has become a growth segment of the US services economy. While subscriptions go back many years, it’s been the digitization of commerce and consumer purchase behaviour that now drives the subscriptions market. Through 2022, online subscriptions will find higher growth due to continued consumer popularity of streaming services and software. 

Therefore, payments firms, including ISVs, merchant acquirers, and payment gateways, must understand the subscription management requirements of sellers and key trends that are driving market growth. Additionally, video and music streaming has led the rapid growth of online subscription services for stay-at-home households during 2020. Bundled subscriptions prove to be a winning marketing strategy for the leading industry players such as Amazon and Apple and consumers have responded enthusiastically.

Furthermore, highlights of this research report include: leading providers of subscription services, various segments of subscriptions market, how bundled subscriptions expand users and spending, and more. 

Companies and other organisations mentioned in this report: Adyen, Amazon, American Express, Apple, Barnes & Noble, BJ’s Wholesale Club, Blue Apron, Chargebee, Chargify, Citibank, Comenity, Costco, Disney, Elavon, FIS, Fiserv, Global Payments, Mastercard, Netflix, PayPal, Recurly, RH, Sam’s Club, Spreedly, Spotify, Starbucks, Synchrony, Visa, Walgreens, Walmart, Wayfair, Whole Foods, Zuora.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Mercator Advisory Group, report, research, Subscription Economy Accelerates as Stay-At-Home Lifestyle Spurs Demand, US, online subscriptions, subscription payments, ecommerce, merchant acquirers, payment gateways
Categories: Payments & Commerce
Countries: United States
This article is part of category

Payments & Commerce