If it wasn’t clear already, us humans — we really love paying for things on a monthly basis.
New data from the National Research Group found that while 44% of consumers have tried to cut back on spending at the grocery store amid ongoing high inflation, only 18% did so with their streaming subscriptions.
- Among subscriptions generally, NRG found Amazon Prime is among the least likely to be canceled, trailing cloud storage and music streaming services.
- Most likely to be canceled? Dating apps, at 76%.
With subscription businesses so widespread, consumers say companies must now innovate to grab attention, with NRG citing examples like Netflix offering mobile games and On’s subscription-based running shoes.
Weird history: One Swiss sock company proudly claims they beat Netflix in inventing “the first online subscription” service in 1999, dubbed the “sockscription.”
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