You hear the terms “subscription economy” and “subscription commerce” all the time. And with good reason. Subscription-based monetization is transforming business as we know it. But what about usage? Where’s the “consumption economy”? Turns out, it’s all around us.
When most people think of usage-based billing, the example that probably comes to mind first is metered public utilities — water, gas and electric. Phone services, especially mobile, might come next. Then maybe taxis. And that’s about as far as most of us get before we scratch our heads. What else is there? Plenty. In this post, we take a look at several market niches where pay-per-use options are already the norm and why they work.