A rise in exclusive memberships focused on making participants' lives easier
Implications - Though loyalty programs that reward members with products have proven to be popular and effective, some brands are differentiating by offering exclusive memberships that prioritize convenience. Whether consistently sending a product to one's house or setting up an pre-paid system to send money to a charity each month, these programs offer value by automating consumer's lives and creating air of luxury .
Trend Themes
1. Exclusive Memberships - Exclusive memberships prioritizing convenience and luxury are becoming popular, offering opportunities to automate consumers' lives and differentiate by adding value.
2. Curated Collective Giving - Startups like CharitySub are disrupting traditional philanthropy by offering curated collective giving options, educating members on monthly causes with infographics and statistics.
3. Lifetime Membership Programs - Lifetime membership programs like those offered by The Monocle Order offer opportunities to disrupt traditional business models by retaining customers for life and making renewal processes easier.
Industry Implications
1. Membership-based Services - Membership-based services, offering continual value to customers through exclusive perks and conveniences, are disrupting traditional loyalty programs.
2. Socially Responsible Initiatives - Companies that connect their customers through socially responsible initiatives like the Nada Bike Revolution are meeting the demands of youth consumers who want to connect with others and do good in the world.
3. Eyewear and Bike Industries - Industries like eyewear and biking can disrupt traditional business models by offering lifetime memberships and customized options.
