SINGAPORE: Need some new clothes for a wedding? There’s a subscription for it. Need a car for a couple of months? There’s a subscription for that. How about tailored meal kits for yourself - and your dog? You guessed it, there’s a subscription for those too.
From Netflix and Spotify to mobile phones and even furniture and home appliances, it seems like almost everything can be accessed on a subscription basis today. So much so that the idea of owning things outright is starting to feel a bit old-fashioned. In the past, possessions were a big deal for our parents and grandparents.
The pride of owning a home and the tangible sense of security from owning valuable items were important. For them, ownership wasn't just about having things; it was a testament to hard work, success and stability. However, as the subscription economy gains traction, this traditional view of ownership is being challenged.
According to FT Strategies, a specialist media consultancy owned by the Financial Times, half of consumers say that subscriptions enable them to access products, services and a lifestyle that they otherwise would not have. Is the shift towards subscriptions today really the future of consumerism? Can subscribing actually replace buying? FROM LAPTOPS TO DISHWASHERS While subscriptions may have transformed the typical shopping experience, the concept is not new. In fact, the first subscription service as we know it launched in 1856 when sewing machine company Singer offered custo.