Subscription model in the travel industry - statistics and facts
The subscription model, based on the concept of offering customers exclusive services and products via membership schemes, might not be that revolutionary. In recent years, however, it has gained in popularity, being successfully implemented by companies across different sectors, from e-commerce giant Amazon to streaming platforms in the entertainment industry, such as Netflix and Spotify. Even though this business model is not yet as widespread in the travel industry as it is for other markets, it is gradually gaining momentum. In particular, the interest in this topic rose substantially during the coronavirus (COVID-19) pandemic, as travel businesses started to consider subscriptions as an option to secure recurring revenue streams, even during challenging times.
