Booktopia's got around 5 million customers, and they turn over around $165 million each year. N2b for a humble bookstore.
Background: Booktopia is an Aussie online bookstore that was founded back in 2004. They've got around 5 million customers, and they turn over around $165 million each year. N2b for a humble bookstore.
What happened: In 2020, the company launched a joint venture with Canadian company Rakuten Kobo. The pair created a co-branded app, and users can buy eBooks and downloadable audiobooks.
What else: Now, they're extending this partnership by launching an eBook subscription service. We're talking 500,000 eBook titles for a monthly fee.
💡E-commerce companies are shifting from a pay-per-transaction model...to a monthly subscription model.
💡By 2023, 75% of businesses that sell direct to consumers are expected to offer some kind of subscription product. And why, you ask? Well, 'cos subscriptions are good for businesses (because businesses can rely on recurring revenue) and good for customers (because customers can count on straightforward pricing and better value).
💡Booktopia aren't the first company to do this. Ol' mate Jeffy B launched a subscription model with Amazon's Prime membership. The only challenge now is tracking all your 1,430,582 subscriptions.
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