Access To Exclusive Content Is Top Reasons For Gen Z Using Subscription Services

A study conducted by Expert Market Research reveals that the rise in subscription-based services are driven by access to exclusive content (32%), economic convenience (20%), personalization (10%), novelty (9%), and regular product delivery (7%). Successful brands like Bokksu, Sakuraco  and Armoire can leverage these factors, catering to diverse consumer preferenc sakuraco es.

Subscription based offerings have been on a constant rise and raises the question of exactly why is this is happening. A comprehensive study conducted by Expert Market Research where a survey was conducted collecting responses from over 50000 respondents from major metro cities across India reveals the answer to why subscription-based offerings are on the rise.

Primary Drivers For The Rise In Subscription-Based Services

One of the primary drivers for the rise in subscription-based services is access to exclusive content, which appeals to over 32% of respondents. This is evident in the success of original TV shows such as Netflix's "One Piece Live Action" and Amazon Prime's "The Boys." Exclusive content provides a unique value proposition that differentiates them from traditional media and helps attract a loyal subscriber base. 

With rising economic instability, consumers find it more feasible to subscribe and pay recurring fees, which can be cancelled at any time, rather than making large upfront purchases that require substantial capital and long-term commitment. This preference for convenience and cost efficiency drives 20% and 11% of respondents, respectively. Subscription models offer a flexible and budget-friendly alternative, allowing consumers to manage their finances more effectively. Moreover, personalization is a crucial factor for 10% of subscribers who seek a tailored experience. Subscription platforms excel in providing personalized content and services, enhancing user satisfaction and loyalty. For instance, streaming services recommend shows and movies based on viewing history, while meal kit services offer customized meal plans based on dietary preferences. Another 9% also subscribe to experience something new and another 7% do so to receive products which aren’t readily available through traditional channels.

Many Services are catered towards providing new experiences and products regularly such as Bokksu, sakuraco and Armoire. They have found huge success in their respective markets by providing customers with new and exclusive products often themed around cultural and seasonal trends. By checking all these boxes these brands have succeeded where others could not furthermore their success is also in part to transparent pricing strategies which help build trust and long term customer relations. This is further proved by another study Why people cancel subscriptions.

Personalized Approach To Provide Products

The rise of subscription-based offerings also reflects a shift in consumer behavior, particularly among younger generation. Millennials and Generation Z, known for their preference for experiences over material possessions, are driving this trend. They value the convenience, flexibility, and personalization that subscription services offer, making them a key target market for businesses in this sector.

With the increasing popularity of subscription based offerings it is essential for new entrants to find their own niche and provide innovative services which attract customers. Comprehensive studies conducted by Expert Market Research help provide insights  which can be leveraged to to attract and retain subscribers, helping provide an edge in this highly competitive market.