Birchbox was launched in 2010. In a single year, the brand had 45,000 members; and the seed for the modern subscriptions business as we know it today were sown.
It took a while for the subscriptions model to gain a foothold in India, but the success of brands like Amazon Prime and Hotstar has proven that there is a huge market for subscriptions businesses in the country.
Of Amazon Prime’s 100 million subscribers, one-tenth (i.e. 10 million) come from the subcontinent.
Netflix, which entered the Indian market in 2016, is already aiming to add 100 million subscribers from India to its pool. And the homegrown Hotstar is leading the pack with about 75-100 million users a month.
This is just the surface of the change around recurring payments that is underway in India.
From food-delivery companies (Zomato and CureFit) to books (The Big Book Box), and lifestyle and cosmetic brands (Nykaa) – everyone is experimenting with subscription-based services in India.
However, making the change from traditional to the subscription models isn’t easy. The challenges you face during the transition to a recurring payments model are unique to your industry and business, and there is no one shoe that fits all.
To help you with this transition, we’ve identified the nine most important steps that will help your business through the process. And yes, this comes with the blessings of the various companies Razorpay currently powers subscriptions for! Take a look.
Subscription Links – Recurring payments now made easier!
Let’s say you are just starting out on your journey towards building a sustainable subscriptions-based business.
You can ask your customers to sign up for your offerings without any website integrations. With Razorpay’s Link-Based Subscriptions, you can mail, SMS, or send out webhooks on chat that will allow your users to sign up and subscribe instantly.
With our Link-Based Subscriptions, accepting recurring payments becomes easier and faster. To learn more about how these links work, you can access the documentation for it through the link below.