Subscription Economy News: Week of 03/02/2020

Subscription Economy News: Week of 03/02/2020

Every week, we bring you the top stories and analyses from the global Subscription Economy.

Rent the Runway adds a new subscription option that allows renters to swap clothes more often

Excerpts from an article by Lauren Thomas on CNBC

Rent the Runway hopes a new membership option will encourage even more women to buy fewer clothes, and turn to renting.

The clothing and accessories rental service is launching a two-swap plan. The new model gives users the ability to swap out four items two times each month. It costs $135 per month.

“We are continuing to push the envelope to make [Rent the Runway] as easy to use as possible,” said Anushka Salinas, its chief operating officer, in an interview. “You’ll continue to see more and more of that from us this year.”

For more, read the full article on CNBC

Walmart Plans to Threaten Amazon Prime’s Dominance With New Membership

Excerpts from an article by Anne Burdakin on The Motley Fool

Walmart is planning to challenge Amazon with its own paid membership model that would compete with Amazon Prime. The company will introduce it as early as March.

Walmart plans to differentiate the membership model by including certain perks that Amazon cannot offer. The model is called Walmart+.

If Walmart is to successfully challenge Amazon Prime’s stranglehold on the market, it will need to provide unique value with Walmart+, specifically with features that Amazon can’t match. Potential perks include text messaging to place orders, prescription drug discounts at Walmart pharmacies, fuel discounts at Walmart gas stations, and a Scan & Go service that allows Walmart shoppers to check out without waiting in line.

For more, read the full article on The Motley Fool and read Zuora CEO Tien Tzuo’s perspective on how retailers can succeed through paid membership models

Metallica to Excavate Rarities for Vinyl Subscription Club

Excerpts from an article by Kory Grow on Rolling Stone

Metallica will be releasing rare recordings, demos, rough mixes and live rarities in the coming months on vinyl as part of their newly launched Vinyl Club.

The group has launched a subscription signup for the club, which runs through March 31st. A subscription includes four seven-inch singles and other collectibles (possibly stickers, guitar picks and posters) that the band will send out over the year.

Many of the songs, the band says, will be pressed to vinyl for the first time. Metallica has also already begun planning a 2021 subscription.

For more, read the full article on Rolling Stone

Panera Expands Rewards Program with Unlimited Coffee Subscription

Excerpts from an article by Dana Neuts on Subscription Insider

Panera has expanded its rewards program, MyPanera, by adding a coffee subscription component. For $8.99 a month plus tax, rewards customers can become subscribers to the MyPanera+ coffee subscription.

The new subscription program gives subscribers one cup, any size, of drip hot coffee, hot tea or iced coffee every two hours during regular bakery hours, including unlimited free refills of the same beverage. Other beverages including cold brew, espresso, cappuccino and iced tea, are excluded from the offer.

For more, read the full article on Subscription Insider

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