Bold Subscriptions’ New Integration Generates Supplemental Revenue Stream for Retailers and DTC Brands
Bold Commerce, the ecommerce technology company that powers checkout and subscription experiences for the world’s leading retailers and emerging DTC brands, today announced Bold Subscriptions’ new integration with Govalo, a leading gifting app for Shopify. Bold Subscriptions with Govalo will enable retailers to offer gift subscriptions to shoppers, opening up an additional revenue stream for their existing subscription program.
Subscription businesses are growing 6X faster than retail overall, with the global subscription market size expected to reach $904.2 billion by 2026. Consumers’ growing preference for subscriptions has also expanded to subscription gifting, with nearly one-third of consumers receiving a subscription as a gift. Retailers have a growing opportunity to turn one-time gift recipients into long-term subscribers, but many of them lack the features and flexibility to seamlessly make the transition.
The combined Bold Subscriptions and Govalo solution enables the thousands of Shopify merchants that already use Bold Subscriptions to power their subscription programs, to create a complementary gift subscription product with Govalo.
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Retailers can easily customize their subscription gift product–down to the product, image and subscription cycle times–and launch it for customers to purchase on their ecommerce site, as they would a subscription for themselves. When customers purchase a gift subscription, Govalo automatically sends the subscription directly to the recipient, who can then manage that subscription just like any other subscriber would. They can change dates, swap items, and when the gifting period is over, choose to keep the subscription running billed to their own credit card.
“Subscriptions are the gifts that keep on giving–for both consumers and brands. They offer shoppers convenience and connection with a brand, and offer brands the opportunity to drive a long-lasting relationship from a single transaction,” said Rhian Beutler, Founder and CEO, Govalo. “Our work with Bold Subscriptions helps brands to avoid the friction that typically comes with subscription gifting so that customers can easily share the subscriptions they love.”
“When shoppers gift a subscription, they’re kicking off a relationship between the recipient and the brand—and first impressions are everything,” said Jay Myers, Co-founder, Bold Commerce. “Bold Subscriptions’ integration with Govalo creates a seamless handoff from the shopper to the recipient, so recipients instantly feel like a member of the subscriber community and have the curated experiences that will lead them to become subscribers themselves.”
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Bold Subscriptions enables brands to configure, customize and tailor their subscription offering exactly to business needs, unlike other subscriptions technologies that force brands to adapt their subscription offering to the application. This includes generating custom onboarding, unique rules sets and frequency logic, and giving customers flexibility and control to pause, edit, skip, swap and manage their subscription. Brands can quickly launch subscription programs with Bold Subscriptions’ powerful out-of-the-box features, or use its robust APIs to create and configure any subscription offering imaginable–on any digital channel.
Brands including Sitka Salmon Shares, Loot Crate, Metabolic Meals, Smarty Pants Vitamins, Kencko, Goldielocks and Mars use Bold Subscriptions to power their subscription programs.