Want a new Mercedes but can’t afford to buy one? Why buy a CD when £10 a month gives you ‘000? Setting up a new online business but will limited funds? Have it all, Subscribe Now!!
This episode of Old Fox Young Fox looks at the subscription economy. Joined by Toby Beresford of Veneficus, we explore how a move from owning to renting is transforming the landscape for both consumers and suppliers globally.
Netflix, Spotify, Apple iCloud, Office 365 and Amazon Web Services are all examples of subscriptions and whether we realise it or not, we are consuming more products and services via subscription every day. In fact, 2020 saw huge growth in subscription services globally due in part to Covid-19 and our insatiable desire to try before we buy, get it now and always have the latest and greatest.
What is surprising is how far the subscription model of pay as you go has reached with school uniforms, and even jet engines moving to this model.
But how do subscriptions actually work? What are the benefits to businesses to moving to a subscription-based model and are they better or worse for us the consumer?
About the show:
Old Fox Young Fox is an intergenerational conversation between Jeremy Woolwich and Oliver Happy, one that explores the impacts of a rapidly changing world.
About our guest:
Toby Beresford is an entrepreneur, author and is Head of client engagement at Veneficus, with Rise.global as "a side hustle project". Toby lives with his family in the South of England and is actively engaged in the rise of social media, the subscription economy and what it all means.