1. The Subscription Model of the Future: Rent vs. Own


    If you don’t offer your customers a subscription rental option, maybe you should. The last five to six years have seen a continued shift in consumption patterns from traditional purchasing and ownership to an increase in subscription-based services of the future. According to McKinsey, the subscription eCommerce market has been growing by more than 100% year over year. Although this includes subscription boxes, like razors, food and cosmetics, there also is a growing trend for subscriptions that enable access over ownership, such as rentals for designer clothing, high-end luggage or sporting equipment.  In fact, a study by UPS showed that Millennials are nearly five times more likely to rent online than other demographics.