A trend that has been gaining popularity over the last few years is one of e-commerce subscriptions. The subscription business model allows customers to set up automatic order and delivery of goods and services on a recurring basis. Subscription e-commerce is a model that benefits both sides — it gives consumers purchasing flexibility, and businesses the sustainability they desire. Now, with the global COVID crisis and economic downturn, we have seen a massive shift in customer preference towards subscriptions. Research released in 2019 by the Subscription Trade Association (SUBTA) found that the eCommerce subscription market has experienced an annual growth of 17.33% over the last five years. It predicts three-quarters of DTC brands will offer subscriptions by 2023, while global eCommerce subscriptions will account for 18% of the total market share.
Subscriptions for SuiteCommerce Advanced
SuiteCommerce Advanced users need not worry about being left out of the booming subscriptions trend! Users can now leverage extensions, which are micro-packages of modular SuiteCommerce code, to sell subscriptions to recurring products. Extensions were introduced with the purpose of simplifying the process of making site upgrades and installing new features for the lay person. It is true that prior to the introduction of the Extensibility framework, the look-and-feel and functionality of websites lay solely in the hands of developers. Now these pluggable functionality packages allow business owners to take control and make these changes themselves.
Catering to SuiteCommerce users who wish to add subscriptions to their websites, Tvarana has created the subscription extension which comes with the following features:
- It allows users to set up repeat purchases through a website
- Users cab preview and modify their subscriptions, within predefined limits
- The extension plugs in to Tvarana’s Subscription Management SuiteApp to enable automatic billing in NetSuite
- Emails are set up to notify subscribers when a shipment is coming up
- Ability to set up physical and digital subscriptions as per need