Subscription models have come a long way from traditional mediums such as newspapers and magazine subscriptions to modern services such as Netflix and The Dollar Shave Club. In the United Kingdom alone, nine out of ten people subscribe rather than purchase products or services upfront. Increasing consumer demand influenced the evolution of subscription models.
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According to McKinsey & Company, the subscription e-commerce market has grown by more than 100 percent over the past five years. This tremendous growth highlights the demand and the rising popularity of the subscription model.