The rise of the subscription economy and the future of ecommerce

In the UK alone, e-commerce accounts for over 30% of total retail sales, with forecasts projecting a growth rate of over 9.49% across the next five years ( Statista, 2024). This unprecedented growth trajectory has disrupted established retail practices and shifted consumer preferences.
With the increased use of smartphones and tablets facilitating access to online shopping outlets, it has now become industry standard for consumers to receive unparalleled discounts and a vast array of choices. The transition to mobile-first shopping has caused two major shifts in retail dynamics: customer loyalty has become increasingly elusive and the convenient introduction of various payment methods has drastically streamlined the transaction process. As mobile technology continues to advance, the ease of access to online shopping has accelerated, making it more convenient for consumers to make purchases at any time and from anywhere.