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...
Price hikes and belt-tightening are an unhappy combination for retail subscriptions, causing cutbacks to deepen. That’s a key finding, among others, in the new “Subscription Commerce Conversion Index: Subscribers Seek Affordability And Convenience,” a PYMNTS and sticky.io collaboration. As this latest sounding states, “Slightly more...
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...
Nestlé is partly offloading its Freshly meal delivery business following disappointing results. The food and beverage giant announced earlier this month that it is forming a partnership with private equity firm L Catterton whereby the ready-made meal company will merge with the firm’s Kettle Cuisine...
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...
Consumers may continue to shop for the staples of their holiday meal from their go-to grocers and food producers, but meal kit companies and other direct-to-consumer (D2C) food companies have the opportunity to gain share of stomach when it comes to the smattering of side...
Consumers are increasingly using stored payment credentials to speed up the purchasing process, but not all types of purchases are experiencing adoption of the technology at the same rate. For the PYMNTS study “How We Pay Digitally: Stored Credentials Edition,” created in collaboration with Amazon...
In a move to both grow its subscription program and capture consumers’ holiday spending, DoorDash has made its DashPass delivery subscription giftable. The aggregator announced Monday (Nov. 21) the option for consumers to purchase three-, six- or 12-month memberships for others to be sent via...