More Korean consumers choosing to subscribe rather than buy
- 6 years ago
Having a monthly newspaper subscription is nothing new to most people.
But what about subscribing for beer, shirts or even flowers on a recurring basis?
The rise of the subscription economy in South Korea shows how the long-held traditional business model of pay-per product could be slowly shifting to subscriptions.
Seo Eun-kyung reports.
Every Monday, Mr. Han starts his day by waiting to see which shirts will be delivered to his door.
A year ago, he signed up for a subscription service, receiving five new returnable shirts each and every week.
"I spent a lot of time every morning worrying about what to wear. Now there's no need to worry because shirts are delivered every week. Plus I save time and money on dry-cleaning."
Weeklyshirts offers its customers the choice of three to five shirts a week.
For as little as 40 U.S. dollars a month,... customers can enjoy sterilized and ironed shirts, freeing them from the hassle of shopping.
"We have a diverse consumer base, including men living alone, dual-income families and people in their 40s and 50s. Our customers find it convenient to have someone else do their shopping and laundry for them."
"As well as everyday items such as shirts, there are also customers sending themselves gifts such as flowers to add a little extra happiness to their lives."
Kukka is the country's flower subscription service.
Consumers choose the size of bundle they want and florists arrange and send them every two weeks.
Our business is to make people happy everyday with flowers. I believe this emphasis on 'everyday' draws people's attention to our service.
Koreans usually buy flowers for weddings or graduations, but the subscription service is changing the culture.
"It's convenient to receive flowers at a time of my choosing. I get my own space to relieve my stress at the office where I spend most my day."
"The trend towards the subscription economy will increase as people want practical goods and services that give maximum satisfaction for minimum cost. The fact people save time and effort also draws them to subscription services."
The expert says such services will be more individualized with technological advances such as AI, meeting consumer needs in the future.
Seo Eunkyung, Arirang News.
But what about subscribing for beer, shirts or even flowers on a recurring basis?
The rise of the subscription economy in South Korea shows how the long-held traditional business model of pay-per product could be slowly shifting to subscriptions.
Seo Eun-kyung reports.
Every Monday, Mr. Han starts his day by waiting to see which shirts will be delivered to his door.
A year ago, he signed up for a subscription service, receiving five new returnable shirts each and every week.
"I spent a lot of time every morning worrying about what to wear. Now there's no need to worry because shirts are delivered every week. Plus I save time and money on dry-cleaning."
Weeklyshirts offers its customers the choice of three to five shirts a week.
For as little as 40 U.S. dollars a month,... customers can enjoy sterilized and ironed shirts, freeing them from the hassle of shopping.
"We have a diverse consumer base, including men living alone, dual-income families and people in their 40s and 50s. Our customers find it convenient to have someone else do their shopping and laundry for them."
"As well as everyday items such as shirts, there are also customers sending themselves gifts such as flowers to add a little extra happiness to their lives."
Kukka is the country's flower subscription service.
Consumers choose the size of bundle they want and florists arrange and send them every two weeks.
Our business is to make people happy everyday with flowers. I believe this emphasis on 'everyday' draws people's attention to our service.
Koreans usually buy flowers for weddings or graduations, but the subscription service is changing the culture.
"It's convenient to receive flowers at a time of my choosing. I get my own space to relieve my stress at the office where I spend most my day."
"The trend towards the subscription economy will increase as people want practical goods and services that give maximum satisfaction for minimum cost. The fact people save time and effort also draws them to subscription services."
The expert says such services will be more individualized with technological advances such as AI, meeting consumer needs in the future.
Seo Eunkyung, Arirang News.