In today鈥檚 episode, host Bill Fisher is joined by Paul Briggs, Man-Chung Cheung, and Carina Perkins to discuss the longevity of subscription services and loyalty programs from both a client and corporate perspective. How many subscriptions can people afford, and how much can companies afford to give away as part of their loyalty programs?
Adobe Analytics predicts UK shoppers will spend 拢17.2 billion ($21.19 billion) via BNPL services online in 2023, which is around 10% of total retail ecommerce spend. Electronics and fashion are the top categories for BNPL payments, but UK consumers are also using the service to pay for day-to-day essentials such as groceries and fuel, and to fund holidays. BNPL platforms are evolving beyond payments.
UK retail sales are performing better than expected, with consumers still spending despite high inflation鈥攂ut ecommerce will lose further share this year as shoppers continue returning to stores and cut nonessential spending.
Indonesia has become a hotbed for ecommerce and social media, and sub OTT has momentum in Southeast Asia鈥檚 largest market as well. In 2024, the country will post the world鈥檚 fastest sub OTT viewer growth among the countries that we break out. That said, penetration will still be very low (15.5% of internet users), and Indonesia has a long way to go before it will become a core sub OTT market.