Kibo Subscriptions Management allows retailers to offer recurring subscriptions of products, curated boxes and exclusive services
Kibo, the leader in unified commerce, announced the release of its new product, Kibo Subscriptions Management, along with original data on the value of subscriptions.
Kibo Subscriptions Management empowers retailers to drive sales and customer loyalty by enabling revenue streams from products and services offered on a subscription basis. Kibo Subscriptions Management further allows retailers to provide their customers with convenient, ongoing, recurring subscriptions of frequently used products, such as cosmetics, pet food or other household items.
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“Kibo Subscriptions Management will allow retailers to create the convenient, cost-saving experiences that shoppers crave.”
Subscriptions can be leveraged by retailers to fuel the discovery of new products through curated boxes, where the retailer specifically chooses items that go into each package. With Kibo Subscriptions Management, retailers are also able to offer customers access to exclusive VIP perks, such as special products and services on a subscription basis.
According to a recent Kibo survey of over 1,000 adults across the U.S., 36% of respondents currently receive physical products on a subscription basis from a business. Of this group, 46% of respondents signed up for a subscription as a result of the COVID-19 pandemic, with 85% planning to keep the subscription post-pandemic.
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Kibo also discovered the following about the current state of product subscriptions:
- Of adults currently receiving subscriptions, the top three categories of products were: Health & Wellness, Food & Beverage, and Personal Care.
- 41% are replenishing commonly used products, while 26% are receiving a curated box as a subscription. The remaining 20% subscribed to receive special access perks from retailers.
- The top three reasons that respondents gave for subscribing were convenience, cost savings and the desire to try new products.
“By adding native subscriptions capabilities to our composable commerce platform, we continue to allow our clients to rapidly accelerate their digital transformation initiatives,” explained Kibo’s chief product & technology officer, Ram Venkataraman. “Kibo Subscriptions Management will allow retailers to create the convenient, cost-saving experiences that shoppers crave.”
Kibo was recently named by global research and advisory firm Forrester Research as the sole Leader in The Forrester Wave™: B2C Commerce Solutions, Q2 2022. According to Forrester, “Kibo is a best fit for digital businesses that prioritize a preintegrated platform with shared services across functional areas.”