From the leading subscription platform’s State of Subscriptions series, the report analyzes trends in subscriber purchasing patterns
SANTA MONICA, Calif., Sept. 17, 2024 /PRNewswire/ — Recharge, the leading subscription platform powering smarter subscription experiences, today published a new insights report focused on Subscriber Trends. The findings revealed that subscribers are brands’ best customers—shopping more, spending bigger, and staying longer—and getting even better. Virtually every Recharge vertical saw subscribers driving the bulk of orders and revenue compared to non-subscribers.
“Our belief is that the best brands build their businesses around their best fit customers—their subscribers,” said Jen Gray, Recharge’s SVP of Marketing. “Serving 20,000 brands means that we can provide a robust snapshot of the state of subscriptions, and the data in this report illustrates that brands should not underestimate the value of a subscriber.”
Highlights from the report include:
Subscribers are brands’ most valuable customers: One-time customers spend more up front, but subscribers’ longevity quickly makes them more valuable customers. A single subscriber is worth over three non-subscribing customers to a Food & Beverage brand, for example.Subscribers are placing even more orders: A typical brand’s subscribers placed 4.4 orders each over the past year, up 15% from the year before, a strong signal of their buy-in to the subscription model.Customers want variety: Many subscribers get hooked by a single great product, but end up subscribing to 4–6 overall. A diverse catalog will be crucial to many brands looking to retain customers.Flexibility is key: 53% of subscribers made order adjustments in the past year, up 3% from the year before, indicating that shoppers are becoming more accustomed to tweaking subscriptions to fit their routines.
Recharge is consistently recognized for growth and innovation: The company surpassed $100M in ARR earlier this year and was recently named to the Inc. 5000 list of fastest-growing private companies.
More detailed analysis, benchmarks, and insights can be found in Recharge’s Subscriber Trends report here.
About Recharge:
Recharge is simplifying retention and growth for innovative ecommerce brands. As the #1 subscription platform, Recharge powers the routines of today and the leading brands of tomorrow. The Recharge platform allows brands to easily set up and manage subscriptions, create dynamic experiences at every customer touchpoint, and continuously evaluate business performance. Powering everything from no-code customer portals, personalized offers, and dynamic bundles, Recharge helps merchants seamlessly manage, grow, and delight their subscribers while reducing operating costs and churn. Today, Recharge powers more than 20,000 merchants serving 100 million subscribers, including brands such as Blueland, Hello Bello, LOLA, Chamberlain Coffee, and Bobbie. For more information, visit getrecharge.com.
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SOURCE Recharge Inc.
