Subscription sales soar during Black Friday, Cyber Monday
David Cross |
Ordergroove saw record-breaking subscription sales during this year’s Black Friday, Cyber Monday (BFCM). Subscription sales were up 70% compared to last year’s BFCM and 188% over 2020’s shopping holiday. What’s more, the number of subscriptions created by Ordergroove merchants during the event jumped 55% year-over-year while experiencing 100% uptime.
The massive growth in subscription sales emphasizes that more consumers are turning to subscriptions as they seek to stretch their dollars further with rising inflation, and merchants with exceptional subscription experiences are reaping the rewards.
With 2023 around the corner and even more market volatility on the horizon, brands must level up their shopping experiences. Embracing automated subscriptions that deliver not only cost savings but also an emotional connection through ongoing added value, variety, and delight will drive greater customer lifetime value and business resilience.
“The substantial increase in subscription sales that Ordergroove merchants experienced during Black Friday, Cyber Monday exemplifies that consumer demand for subscriptions is still on the rise,” said Greg Alvo, CEO and founder of Ordergroove. “This record-breaking achievement is a testament to the power that innovative and intuitive subscription experiences can yield for eCommerce and retail brands.”
Want to increase recurring revenue and supercharge your customer lifetime value? Get in touch to learn how Ordergroove is helping leading brands like L’Oréal, IL MAKIAGE, OLLY, and La Colombe Coffee transform one-time purchases into relationships this holiday season and beyond.