Gifting is an excellent way to show your loved ones that you care. And, gift subscriptions take it one step further. Nearly 33 percent are interested in receiving a subscription as a gift. As we near this year's holiday season, gift subscriptions can help brands unlock a new revenue stream. 

At Prive, we can attest to this appetite. One of the most consistent things that our customers mentioned was that no other platform had a robust way of sending a gift subscription (that wasn't just changing a delivery address). Gifts need to be delightful for both the sender and recipient. 

Today we launched our end-to-end subscription gifting feature for DTC brands to allow customers to spread joy by giving their loved ones a subscription to their favorite products (or your favorite products, which will become their new favorite).

But before we dive in, let's talk a bit about the "why" behind gift subscriptions that deserve all the praise.

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Benefits of gift subscriptions

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The benefits of subscriptions are endless—recurring revenue, building brand loyalty, and converting customers into advocates. Gifting subscriptions takes it a step further by unlocking additional incremental revenue that you didn't have before. 

• Brands have products that don't go well as a standalone gift—these products can be repurposed into incredible subscription gifts, thus helping you move inventory. 
• The favorite time of the year for DTC brands is the holidays—everyone's buying and gifting new things. And, that's why it's the perfect time for gift subscriptions, as it drives incremental revenue over a single gift. 
• Brands can expect new customers as a result of gift subscriptions. Here's why: Imagine Sara,  customer of Pricklee, gifts a 3-month subscription to her friend, Neal. Since Neal uses the product over a longer time (as opposed to a single batch of Pricklee), it can potentially turn into a habit, leading to a subscription purchase from this person. 

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Try gift subscriptions with Prive

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Prive provides an end-to-end gifting experience for brands. The best part is that you don't have to offer prepaid subscriptions to enable gifting. 

Plus, we're the only platform that offers gift management capabilities for the recipient and sender. The recipient can change the frequency, skip an order or even change the product within the same price range. 

Learn how to create a gift subscription with Prive here:

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Gear up your gifting with subscriptions 

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Your brand should be ready to make the most of the upcoming holiday season. Gifting will be a creative way to acquire new high LTV customers and an extra layer of incremental revenue going into 2023.