The Magento 2 Subscription Extension is one of the most suitable business tools that authorize you to implement a subscription model on the products of your store. This extension authorizes users to subscribe to any product. These extensions enable the automatic reordering of products at a specified interval, and the amount will be deducted from the payment method chosen by the customer.

The Benefits of the Magento 2 Subscription Extension:

• The Magento 2 Subscription extension turns any product into a recurring subscription. In addition, any number of subscription types can be added to each product. This way you can add subscriptions like 1 week, 1 month, 3 months, etc. You can also create custom subscription duration, such as 9 days, 3 months, 1 year, etc.
• Customers can view and change their subscription duration directly from their accounts.
•  If your customers have multiple subscriptions scheduled for the same day, the system will automatically group them into a sequence to save on delivery charges.
• Subscription plans may modify the price of the product. For example, if a person chooses to purchase a subscription to the product, you may reduce the price of the product by the associated fee or percentage.
• 'Subscription' style subscriptions are supported.
• A customer can checkout with both subscription and non-subscription products in the same order.
• Fee-based subscriptions, installments, and subscription extensions are all supported.

How Does the Magento 2 Subscription Extension Work?

The Magento 2 Subscription Extension helps to generate subscriptions automatically for subscription-compatible products. It automatically creates a planned subscription payment in the database. Once the scheduled payment date arrives, the payment is deducted from the strategy chosen by the consumer. Then, a new order is generated in Magento to let you know that the customer's payment was successful and that their order should be processed. Magento 2 Subscriptions is a "drop-in" extension that gives you all the Subscription features as well as integrates with your sales and fulfillment workflow using native Magento features.

Final Word:

The Magento 2 subscription extension comes with a number of beneficial features, which make the extension extremely beneficial for the Magento store owners, as they can handle the subscriptions of their customers efficiently. This Magento 2 extension comes with a dashboard of reports and graphs so that store owners can easily track their customers' subscription numbers in one place.

Pimcore is a modern platform for digital data and user experience management, highly effective for multichannel integration. It not only helps you to manage your enterprise data but also provides a seamless user experience. The customized Pimcore developments that adapt to your business requirements, needs professionals and skilled developer. They will provide the best possible solution for your business. You can hire Pimcore developer for on-demand solutions for your business.

It is observed that OpenCart is one of the top-notch solutions for all the eCommerce merchant's requirements. The adaptability, flexibility and other multiple useful features make it extraordinary amongst all.

OpenCart has gained huge popularity in just a few years. The performance, functionality, feathers and extension, price, and support from OpenCart have provided a great opportunity to store owners.

Let's investigate the greatest benefits of choosing OpenCart:

Getting started with OpenCart

The installation process is very simple with OpenCart. You only need to install just by following the simple installation process. After installation, you just need to select your favourite template, add products. And your store is ready to sell.

Multi-Store Management Feature

OpenCart is a powerful open-source platform that can manage multiple stores within one interface. You can easily connect multiple online stores at the single console, easy to manage stock and orders.

Cost

OpenCart is an open-source platform. The cost associated with OpenCart setup and maintenance is very low. For the basic store, the default features are sufficient.

Marketing

After store setup, marketing is another most essential part of any business. OpenCart offers tools to promote your store. They offer features like a flexible discount coupon system and manage SEO to improve ranking.

Extension

OpenCart has much more extensions to improve the functionality of the store. OpenCart extensions help merchants to get advanced features and extend store conceivable outcomes.

OpenCart is an emerging and popular platform for eStore development. And the development of eStore is very easy. Still, you can go for a professional OpenCart development service if you do not want to compromise with the quality. Choosing an OpenCart development company partner with OpenCart is a great choice.

Need Magento 2 Extensions?

Functionalities help to identify the opportunities. These opportunities enable the store owners to compete and win this rat race of numerous companies. Numerous organizations have been continuously looking for and waiting for opportunities like this. Store owners can understand today's trends and learn about the importance of Magento 2 extensions.

Magento 2 extensions are not just addons that can help you bring clients but they can also make your store technologically advanced that help you to build a strong relationship with the clients.

These help the store owners to achieve their dreams of cracking a plethora of sales. These open a plethora of new ways of doing business efficiently. But first, you have to decide if you want it or not. These can definitely help the store owners to lure internet users.

These are capable enough to bring some extraordinary results. Some great Magento brains came together and applied their knowledge and strategies to build these addons.

Here, you just need to have patience and try to find the most suitable company for you such as Webkul. Webkul is the most experienced and recommended company online for e-commerce software services such as Magento 2 extensions. 

Our experts help the store owners to add numerous new, unique and effective functionalities in the store. Store experience matters for both clients and stores. Store owners spend a lot of money to make their store more compatible with clients.

They want to spend any amount of money to give an amazing look and feel to clients So clients can get the motivation to buy the items and become loyal clients of the store. In order to offer an excellent experience store owners can try Magento 2 extensions that perform and manage entire operations excellently.

In this modern world, people have become more creative and businesses have become smart. These addons help the stores to offer superior quality services to their potential clients.   

Due to these functionalities, stores have become capable of encouraging people to think about buying services or items from your store. These make the environment so convenient for making a buying decision in your store visitors.

These addons are able to help store because some great Magento brains have made them capable of doing it by using smart and advanced coding and test the addons numerous times to make sure these work as expected.
 

E-commerce is a crucial segment of the current retail market in India. It is estimated that between 2018 and 2023, the value of the Indian e-commerce market will increase at a compound annual growth rate (CAGR) of ~41%, from INR 2,375.43 Bn in 2017. The growing number of Internet users and continuously increasing purchasing power are the primary driving forces for the growth of the e-commerce market in India. As of 2017, the Indian e-commerce market was dominated by the online travel segment (~49.59%), followed by that of retail, financial services, and online classifieds market, among others.

Online travel segment insights:

The online travel segment is expected to expand at a CAGR of ~21% during the 2018-2023 period, and will reach a value of INR 3,563.66 Bn by the end of 2023. In India, the increasing use of smartphones is one of the major factors leading to the higher number of hotel and ticket bookings through online portals and applications. Among the different online travel portals, MakeMyTrip is the most significant player, with a market share of ~31%, primarily due to its high penetration rate, large number of partnerships with global hotel chains, and attractive discount offers. The other major players of the segment are Goibibo, IRCTC, Clear Trip, and Yatra.

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Online retail segment insights:

The increased penetration of Internet-enabled devices, focus on advertising, ease of online shopping, innovative payment options, cashbacks and discount offers, and rapidly changing customer needs are the major growth drivers of the online retail market in India. As of 2018, the electronics sector had the largest share (~48%) within the online retail market, owing to the facility of being able to compare the features of products manufactured by different companies, on a single platform. Apart from electronics, the apparels sector has a considerable share in the online retail market of the country.

Online financial services segment insights:

The online financial services segment is expected to expand at a CAGR of ~59% during the 2018- 2023 period, and will reach a value of INR 1,057.37 Bn by the end of 2023. Advancements in the banking, financial services and insurance (BFSI) sector in India have propelled the use of digital financial services in the country. Oxigen and Paytm are two notable online financial services companies that are currently operating in India.

Online classifieds segment insights:

The online classifieds segment is expected to expand at a CAGR of ~39% during the 2018-2023 period, and will reach a value of INR 141.58 Bn by the end of 2023. Consumers who are Internet savvy are increasingly using online classifieds, since they are more convenient in terms of search functionalities and find the desired results with regard to jobs, real estate, etc. Quikr, Sulekha, Just Dial, OLX, and Click India are some of the leading digital classifieds websites in India.

Key growth drivers of the market:

• The affordability of hardware such as laptops, netbooks, desktop PCs and 'Smart' handheld devices, coupled with rising Internet adoption, especially in Tier-I and Tier-II cities, are aiding the growth of the Indian e-commerce market. Also, the rapid growth of smartphone usage is giving improved access to virtual shopping and e-tailing websites to the tech-savvy generation, thus driving business for the e-commerce market in India.

• India's per capita income is expected to reach INR 91.92 Mn in 2018-2019, expanding at a rate of ~6.1% from its 2017-2018 value of INR 86.66 Mn. This rise in income has brought about changes in the buying and spending patterns of customers. Changes in demand, along with the popularity of online markets will lead to the growth of the e-commerce market in India.

The report “E-commerce Market in India (2018-2023)” is available now at  https://www.radiantinsights.com/research/e-commerce-market-in-india-2018-2023

Key deterrents to the growth of the market:

• Despite having a host of genuine buyers, false or spam orders are a prominent logistical hindrance for e-commerce businesses. Out of the total losses incurred by e-commerce companies in India, false orders account for ~4% on an average. The trend has been observed mainly in Tier II or Tier III cities, where people exhibit a desire to make purchases when they see something online, but eventually cancel the order owing to miscellaneous reasons. Eventually, the sales volume of the e-commerce market diminishes.

• In the Indian market, different types of discounts and price wars put e-commerce companies under severe pressure in competitive situations. Often, companies fail to provide the discounts that customers want, which creates an unfavorable impression for buyers. In response, customers switch to other e-commerce platforms or even offline stores that have similar products at more affordable prices. This, in turn, hampers the growth of the market and the players operating in it.

Market trends:

• A retailer always gets the attention of its target segment through its private label. Both offline retail stores and e-commerce players have started introducing their in-house brands to build strong customer bases.

• Though the electronics sector has the largest share of the e-retail market segment in India, Indian customers are also showing interest in buying other products from online platforms. As a result, it has become a trend among market players to engage in product augmentation, so that customers' additional demands can be met.

Companies covered:

• Amazon Seller Services Private Limited

• Flipkart Internet Private Limited

• Infoedge (India) Limited

• Jasper Infotech Private Limited

• MakeMyTrip (India) Private Limited

• Paytm E-commerce Private Limited

• People Interactive (India) Private Limited

• Supermarket Grocery Supplies Private Limited

• Thomas Cook (India) Limited

• Trendsutra Platform Services Private Limited

To read more reports of this category, Visit our blog: https://ictmarketers.weebly.com