SINGAPORE (Apr 30) : The meaning of ownership is changing not only for consumers but also businesses. As a society, we are currently witnessing the emergence of an alternative model to the product-based economy — buying or selling a product and billing for one-time transactions — that shines the light on current consumer preferences such as ease and flexibility of access and high customisation needs. This is what we refer to as the subscription economy.

Subscribing to a service means you do not actually own the product. Recent surveys suggest that 68% of adults no longer value ownership and do not necessarily think that ownership defines what or who they are. However, what we do value is the “usership”and the experience.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook