Consumers are also more loyal and tend to spend more money with brands and businesses they subscribe to
LONDON, June 14, 2022 /PRNewswire/ — A new UK survey conducted by Recurly, a leading subscription management and billing platform, has revealed 24% of UK consumers say they plan to sign up for more subscription services. The results also show that consumers are more loyal (59%) and tend to spend more money (45%) with brands and businesses they subscribe to.
Conducted this year, it highlights that most consumers (93%) spend up to £150 per month on subscriptions, and are now more willing to spend their time and money on in-person shopping (40%), in-person entertainment and events (36%) and international travel (34%). Unsurprisingly, Streaming Video (69%), Retail (42%) and Food (22%) are the most subscribed services today.
With the cost of living at the forefront of consumers’ minds, 90% of respondents are concerned by inflation. As a result of the current cost of goods and services, 28% plan to cancel some subscriptions, but the data suggests that over three quarters of…
