Physical Goods Lead Subscription Market in Pandemic: Juniper
Physical goods will be 45% of subscription market value by 2022, Juniper reported Tuesday, citing consumers’ needs for reliable sources of medicines and daily essentials during the pandemic. The global value of the subscription economy is seen reaching $275 billion…
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this year, up from $224 billion in 2021. Physical goods, digital video and digital music will be 75% of the global subscription market revenue this year, Juniper said, with music, video, spoken word and videogame streaming services making up 39%. The research firm said support for alternative payment methods is key to growing future subscription-based services. Subscription economy vendors should support multiple payment methods to boost end-user convenience, it said.