{"id":1983,"date":"2019-09-09T17:52:53","date_gmt":"2019-09-09T12:22:53","guid":{"rendered":"https:\/\/rzpwp.blog\/?p=1983"},"modified":"2025-01-06T13:06:27","modified_gmt":"2025-01-06T07:36:27","slug":"subscription-economy-business-india","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/subscription-economy-business-india\/","title":{"rendered":"Subscription Economy: Business Impact of Rapidly Changing Consumer Needs"},"content":{"rendered":"

Technology has summoned a change that has enabled people to decide what, how and when they want a specific service or product. And, also dictate how they want to consume and pay for it.\u00a0\u00a0<\/span><\/p>\n

With the advent of intelligent customers, hard-selling has become a thing of the past. From Xennials to Millennials, everybody loves the flexibility, convenience and personalisation that technology has to offer.<\/span><\/p>\n

Today, customers prefer access without ownership, flexible, just-in-time consumption of products and services are preferred over heavy, long-term investment models. One size fits all\u2019 is no more a mantra that works for customers. Unique, personalised offerings are what works, where every customer is empowered to tailor his\/her own experience.\u00a0<\/span><\/p>\n

These factors have led customers to lean towards new consumption models like Subscriptions instead of traditional purchase models.\u00a0<\/span><\/p>\n

All about subscriptions<\/b><\/h2>\n

Subscriptions is a business model<\/a> where the customer decides to consume goods or services on a periodical basis and not as a one-time event. The payment for subscription plans is also made regularly. Subscriptions plans are tailor-made to meet customers consumption preferences.\u00a0<\/span><\/p>\n

Primarily, there are three forms of subscription models:\u00a0<\/span><\/p>\n