Domestic subscription e-commerce is exploding right now

By: Trademagazin Date: 2024. 10. 25. 12:06

This summer, 4 percent of domestic webshops offered some kind of product in subscription form, however, according to the data, this proportion is expected to increase to 23 percent within two or three years. The fact that the number of online stores offering subscription purchases can increase by almost five times clearly shows the significant changes taking place in the market – Shoprenter presented the results of a recent research (1) made with the support of Visa.

During the survey, 998 domestic online store owners shared their opinions and future plans. Currently, only 4 percent of Hungarian online stores offer the possibility of subscription purchases. However, when examining future plans, it turns out that 7 percent plan to introduce this model in 2024, and another 12 percent in the next 2-3 years, so that by 2027 the proportion of online stores offering subscription purchases may reach 23 percent.

“This is nearly a fivefold growth potential, which may seem unrealistic at first, but it is in line with international experience(2). In addition, the growth in Hungary may be even more intense, since according to the research, a significant number of online stores have not yet made a decision on the introduction of subscription models. 29 percent of the respondents would be open to the possibility, while 15 percent are uncertain about this issue”

said Máté Rab, Shoprenter’s managing director.

Innovators and laggards

“Visa’s several initiatives are aimed at supporting domestic micro and small businesses and developing value-added services. In addition, we are constantly innovating to enhance the experience and security of online shopping. We also set this goal with the Vevőbőz subscription program, and the research data clearly show that the introduction of the subscription model carries significant growth potential for domestic SMEs in the coming years

– said Bence Sármay, head of Visa Hungary.