The way we buy is changing.
Currently, there is an ongoing shift away from making individual, one-off purchases for goods and services, in favour of a subscription (or reoccurring income) model. This model has expanded from its roots in magazines, music, and streaming to now being commonplace in industries such as software, automotive, fashion, and many more.
For example, with our motor vehicles, many of us now enjoy the ease and reassurance of a ‘just add fuel’ model, where we pay a fixed monthly fee that covers everything except our fuel.
This allows us to drive a more expensive vehicle than we would otherwise be able to, while the vendor has the opportunity to offer us more frequent upgrades, as well as to virtually guarantee our loyalty for vehicle servicing, parts, insurance, and repurchases.