Weekly news roundup
1. H&M:s ‘secret’ club requires a subscription in order to shop – Dagens industri
To be able to shop fashion or home furnishing through H&M’s initiative Singular Society, you first have to pay for a monthly subscription. Currently, Singular Society has a physical store in Stockholm and online sales, and deliver goods to EU member states and the United Kingdom. 1.000 customers are subscribed.
“One of our big challenges is to make people understand how it works. We do not work with short-term activation of products. Our goal is to create a long-term relationship with our members […]”
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2. Circle K launches beverage subscription program – CNBC
The convenience store chain Circle K is launching a beverage subscription program for $5.99 per month in the US. The ‘Sip & Save’ program looks to build loyalty and coax people into its stores again on a regular basis.
“We really see this an opportunity to drive traffic at a time that people are just starting to come out of the understandable cocoons that they’ve been in for the last 12-plus months.”
3. The New York Times tops 7.8 million subscribers as growth slows – New York Times
The American newspaper, sometimes hailed as the leader in digital subscriptions among media companies, reports a slow-down in the their growth for the first time in a year. New York Times’ number of digital-only subscribers currently stands at 6.9 million.
“The Times is still on a path to reach its goal of 10 million subscribers by 2025, and it has improved its profit margins as its digital business — which costs less than print — continues to rise.”
4. This motorcycle airbag vest would stop working if you don’t pay a subscription – Vice
Motorcycle apparel company Klim’s new vest called Ai-1 has a cost of 400 dollars, but you also have to pay an additional membership to fulfill the function of inflating at the time of an impact.
“When it comes to missing payments and airbag functionality, In&motion’s payment notifications and 30-day grace period are reasonable—at some point, if a person stops paying for a service […]”
5. Gjensidige and Imove launches ‘all-inclusive’ auto subscription – Dagens industri
The Norwegian car subscription company Imove and insurance company Gjensidige has launched their service Schysst in Sweden. What separates it from other car subscription services is the ability to use a larger car, or a van, for 10 days a year.
“Car dealers sometimes have large stocks and if they want another way to have sales in their car fleet, this can be an alternative in addition to leasing and sales.”
6. The electric Husqvarna motorbike E-pilen will launch with a subscription model – Domus
With the E-Pilen concept, Husqvarna confirms it’s serious about electric motorbikes. The new bike will come in 2022 and the subscription model will be a first in the EU market.
“If everything goes according to plans, customers will be able to buy the E-Pilen for a lower price and pay for a monthly subscription to swap the battery packs at dedicated “re-filling” stations.”
Weekly analysis roundup
1. “Building a snowball” – the Synsam Group subscription story – Subscribed.com
Synsam, Scandinavia’s largest optical chain, launched their subscription service to encourage a long-term relationship with customers, says their CMO in an interview with Subscribed.com.
“[…] the key here was to get people to understand the power of relationships, not having to chase the market for today’s or tomorrow’s sales, but rather have a recurring customer flow already booked for their yearly eye exam.”
2. The subscription economy has been turbo-charged by lockdowns, but it’s really about long-term value – Internet retailing
During the pandemic, consumers have shifted to alternatives to in-person shopping. This has led to a huge boost for online retailers, but also, a huge boom for the subscription economy. The challenge for those within the subscription economy going forward will be simple: Can companies continue to provide convenience and joy after lockdown?, writes Dan Ziv, CEO of TouchNote.
“For many consumers, the legacy of lockdown will be slowing down, keeping safe and staying in. For many companies, it will be exactly the opposite memory – rapid acceleration, moving fast and reaching far and wide.”
3. Why a world subscribed is a more sustainable world – Subscribed.com
When companies turn from product vendors into service providers, all sorts of innovation starts happening with regards to efficiency and waste, writes subscription company Zuora’s CEO Tien Tzuo in an analysis.
“If we look on a global basis, in the West we have probably hit peak stuff. We talk about peak oil. I’d say we’ve hit peak red meat, peak sugar, peak stuff … peak home furnishings.”
