The subscription economy has been gaining momentum in recent years and will likely continue expanding. More companies around the world are shifting from the traditional payment methods to the subscription-based model, especially with e-commerce and digital platforms broadening the payment options for users, to improve their products and services. At the consumer end, convenience and easy access to a broader range of products and services are a big draw. The world over, the subscription economy market value is projected to grow to $275 billion this year from $224 billion in 2021, according to the latest study from Juniper Research.
In the Philippines, the subscription business model has expanded from its initial base in the mobile phone sector into TV and video and now streaming music and related services and even physical goods. With many Filipinos still preferring to rent , the concept of subscribing to access products and services is not really far-fetched.
The benefits of subscription
A subscription business model requires a user to pay a recurring fee, which can be weekly, monthly or yearly, for regular and continued access to a product or service. For many consumers, the biggest advantage of this setup is the convenience. Upon registration, a user can expect to get the product or service they signed up for at the agreed schedule or frequency. For busy homemakers, professionals and business owners, this means being able to focus on all tasks and not have to worry about forgetting to buy or get a thing or two for the home or office. The subscribed for product or service can be expected to be delivered on time each time.
This ease of use also means reliability and peace of mind knowing that the product or service subscribed to will be delivered with the quality and on schedule as expected. The previous lockdowns resulting from the pandemic were a testament to this: With most everyone turning to the internet for household and other supply needs, subscribing to a service or two proved crucial in meeting family needs, especially with outdoor mobility being limited. Even offices implementing a remote work setup relied on subscriptions to logistics and other related services to keep things running as smoothly as possible.
Access – not just in terms of products and services but also as regards payment options — is another reason why subscriptions are the smarter choice. The growing range of streaming services is proof. Users subscribed to a streaming platform can access a broader selection, be it music, video or games, and not at a prohibitive price at that with some denting the pocket only by less than Php500. As for payment options, more companies now are offering consumers more ways to settle payments to take advantage of digital technologies and to help users handle transactions more safely amid the pandemic.
For many users, the biggest reason subscription trumps one-off purchases is cost: Subscription services are more cost-efficient in the long term besides being less intimidating, especially for price-sensitive consumers. Most companies on a subscription model offer a flat rate for the product or service for a specified period, enabling the user to manage the budget more easily. More companies are also bundling in promos or rewards with the subscription packages for added bang for the buck.
The ASG way
Purchasing a water dispensing unit is the norm for many, but very few realize how expensive it actually is to own and maintain one. Keeping a water dispenser can cost up to Php100,000 a year while the cost of replacing filters and other insurances can lead up to Php200,000 in five years.
Waterlogic, the leading global provider of home and workplace hydration solutions, hopes to address the need for safe, clean and hygienic drinking water at home and the office with ease through its subscription service.
The Aqua SmartGuard, the company’s most recent line of water units, allows homeowners and businesses to lease water units for Php1,490 a month, inclusive of a Total Care package covering maintenance and replacement of filters. The one-time installation fee is Php5,900.
“Ensuring a safe and healthy drinking water for our families and offices need not be that costly, especially now amid the challenges brought about by the pandemic,” said Aqua SmartGuard Chief Operating Officer Windy Goffe-Gomez. “This is why we’ve made Aqua SmartGuard an accessible and convenient option for Filipino families, homeowners and businesses. When people purchase their own water units, they are left to handle any issues or problems with these units, which means an additional expense or hassle, especially as repair services are not always readily available. With the Aqua SmartGuard Total Care package, our customers and their water units are in expert hands.”
But the advantages of loaning an Aqua SmartGuard unit are not limited to cost and maintenance. These units function as a water purification system, which means users will no longer need to stack water bottles or purchase and haul gallon-sized containers for their drinking water supply.
Besides being a reliable source of clean and safe drinking water delivered right at the user’s home or office, Aqua SmartGuard water units use new technology such as the patented UV Firewall and BioCote to prevent germs, bacteria and viruses from contaminating the water and the unit’s surface. The UV Firewall has been tested against the COVID-19, making Aqua SmartGuard the first COVID-19-safe water unit in the market today.
Further, the Aqua SmartGuard fits any home or office aesthetic with its sleek cube design. The compact unit also takes very little space so it can be placed in any corner.
Waterlogic stays up-to-date with the latest developments in technology to further improve its products. The company will not charge extra for unit replacements or updates even in the event of new technologies or updates on its water units.
“The Aqua SmartGuard was designed to give families, homeowners and even business owners peace of mind when it comes to their drinking water. From the cleanliness and safety of both the physical unit and the water itself to how much it will take to loan and maintain it, it is all hassle-free with the Aqua SmartGuard,” added Goffe-Gomez.
Waterlogic accepts payments through debit or credit cards, PesoPay, bank transfers, payment gateways auto-debit or GCash.