Heavy equipment like construction supplies can be offered on a subscription basis by focusing on the service-level agreement that sits behind the product. This can be achieved with the help of the Internet of Things. The idea is to shift the focus from the product to the individual customer, who prefers outcomes over ownership. This model is already being used in various sectors including healthcare, government, utilities, and more.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
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