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.
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.”