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BizReport : Ecommerce archives : June 24, 2015

Avangate: More shoppers interested in online services

There is a growing segment of the consumer base that is looking for more from their online retailers - things like subscription services for books and movies, access to content hubs and gaming.

by Kristina Knight

"The New Services Economy represents the next rapidly expanding trillion-dollar market and is reshaping how companies should view Digital Commerce. It's no longer a hit-and-run, one-time transactional economy. The proliferation of pay-as-you-go business models and the explosion of revenue moments across the activation, upsell/cross-sell, renewal and retention stages require companies to focus beyond just upfront customer acquisition," said Carl Theobald, CEO of Avangate. "Each revenue moment is an opportunity for digital businesses to build long-term relationships with their customers. Otherwise, it can be a point of failure that drains revenue. How companies navigate these moments and points of revenue leakage across the Commerce Lifecycle are life or death for digital businesses."

Some interesting takeaways from the report include:

• Most shoppers want flexible purchase options (97%)
• 78% of US adults are paying for online services, up 50% from June 2014
• 54% use online services each day
• 95% are making recurring payments

To help brands connect with this kind of economy, Avangate is launching their Commerce Solution. the new toolset offers brands the ability to drive actionable insights into how their customers buy products and engage with content; this kind of knowledge can help brands optimize for these new pay-as-you-go shoppers.

Tags: Avangate, ecommerce, ecommerce services, ecommerce trends, subscriptions

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