Question

How does the book 'Subscribed' explain the shift towards the 'Age of the Customer' and its impact on business models?

The book 'Subscribed' explains the shift towards the 'Age of the Customer' as a transformation in the business model where customers, being more informed than ever, prefer access over ownership. This shift is driven by the desire for immediate access to services without the burdens of ownership. For instance, people prefer the ride, not the car; the music, not the physical record. This shift has led to the success of subscription-based businesses like Adobe, Netflix, and Spotify, which have grown revenues significantly faster than traditional retail sales.

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Today, that model has transformed. Customers are more informed than ever, and they don't want the burdens of ownership. Forrester Research says this is the beginning of a new 20-year business cycle that it calls The Age of the Customer. People want the ride, not the car; the music, not the physical record; and they want it now.

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