As consumers reevaluate subscriptions amid inflation, new data shows beauty memberships are the most vulnerable. In fact, a greater share of customers is cutting out their subscriptions to beauty products than to any other kind of product or service, according to the November edition of...
You might have thought that an online wine club would be impervious to consumers’ belt-tightening. News came last week that Winc filed for Chapter 11 bankruptcy. The company had gone public a bit more than a year ago. Last November, the company’s initial public offering...
Facing ongoing macroeconomic pressure, many direct-to-consumer subscription companies are being forced to adjust. Consumers are tightening their belts, cutting down their subscriptions. According to this month’s edition of the Subscription Commerce Conversion Index study, “The Subscription Commerce Conversion Index: Subscribers Seek Affordability and Convenience,” a...
As noted in the November edition of the PYMNTS Subscription Commerce Tracker, nearly two-thirds of U.K. consumers plan to reevaluate their subscriptions in the next six months due to cost concerns, while nearly four in 10 have already canceled a subscription service. See more: Retail...
Inflation is changing consumer behavior — and not just in terms of shoppers looking for bargains. Many consumers are on the verge of eliminating subscriptions that do not maximize affordability and convenience. Subscription service providers seeking to retain these customers’ loyalty must optimize their offerings...
The popularity of subscription-based services skyrocketed over the last several years, propelled by the multitude of consumers staying at home during the pandemic. The average consumer spent $273 monthly on subscriptions in 2021, up from $237 in 2018 — a 15% increase amounting to an...
Sunil Vasisht, chief operating officer at Meridian Springs Primary Care, tells PYMNTS how the practice was able to leverage the subscription business model for healthcare — Quality healthcare on demand, accessed with the same ease as a favorite movie or TV series, is not merely...
Subscription-based services soared as consumers sought access to goods, services and entertainment during the pandemic. Lately, however, subscriptions have seen a downturn due to inflation, with the percentage of United States consumers with subscriptions dropping from 47% in 2020 to 41% in 2021. A recent...
Many consumers “cheat” subscriptions to get free benefits. Yet the way that they cheat depends on the type of subscription they have. For the September edition of PYMNTS’ Subscription Commerce Conversion Index study, “The Subscription Commerce Conversion Index: The Challenge Of Cheaters,” created in collaboration...
