Every week, we bring you the top stories and analyses from the global Subscription Economy.
Canoo wants to sell the world’s first subscription-only EV
Excerpts from an article by Georgina Torbet in EndGadget.
You can get subscriptions for your music, TV and games, so why not for your vehicle as well? A company called Canoo wants to become the “Netflix of cars” by offering the world’s first subscription-only electric vehicle.
The Canoo vehicle looks like a space-age transport pod, offering a more roomy interior for passengers while maintaining the exterior footprint of a compact car. It has space for seven people and the rear seats are designed to be comfortable and stylish, more like a sofa than a traditional car seat.
Subscription services for cars are becoming more commonplace, with Toyota, Audi, BMW and Mercedes-Benz getting in on the action, among others. The Canoo EV subscription concept has lots to offer potential users, but it is incredibly difficult for new companies to bring a vehicle to production at scale. Canoo will now begin beta testing a fleet of vehicles before switching focus to production at the end of the year. The hope is to launch the service in 2021, beginning in Los Angeles.
Vox Media acquires New York magazine
Excerpts from an article by Kerry Flynn onCNN
Vox Media, owner of sites including Vox and The Verge, has added a new element to its publication portfolio: New York magazine.
Vox has acquired New York Media, which owns the namesake biweekly print magazine along with the websites The Cut, Grub Street, Intelligencer, The Strategist and Vulture.
The company said in a news release that Jim Bankoff, Vox Media CEO and chairman, will continue to lead all aspects of Vox Media. Pamela Wasserstein, chief executive of New York Media, will serve as president and have a seat on the company’s board of directors.
“We have drawn inspiration from Vox Media, watching their growth trajectory and success in developing premium editorial brands and leading the industry in areas like podcasting and entertainment,” Wasserstein said. “As I began talking with Jim about what the future might look like together, it quickly became apparent that our companies pair incredibly well.”
The Retail Revival: Learnings From Amazon and Costco
Excerpts from an article by Amy Konary in Total Retail
Connecting with individual shoppers is the mandate for retailers today. Using new technologies, they’re capitalizing on internet-connected capabilities, launching new in-store innovations, and more, all to satisfy shifting consumer demands. But it’s not enough.
Consumers have moved beyond these shiny “new” technology innovations. They now expect a personalized, convenient and flexible shopping experience, and are seeking out valuable, ongoing services in the form of subscriptions. In fact, 91 percent of customers prefer brands that provide personalized offerings and recommendations.
The truth is, success isn’t solely measured by products sold anymore. Success comes from providing valuable services and experiences.
Read the full article on the Zuora Academy to learn more about the “new retail” in which companies such as Amazon and Costco are finding new ways, and using new technologies, to create ongoing relationships with customers.
And for more Subscription Economy resources and events, head to www.subscribed.com.