The average UK shopper cancels subscription in 5.3 months
Brits are cancelling their subscriptions in less than a year: here’s why. Source: unsplash.com
98% of consumers in the UK cancel their product subscription services within the first year, Ecommerce News report.
According to Emarsys research, only 1 in 5 UK shoppers has kept their subscription services for more than a year. The average consumer in the United Kingdom even cancels their subscriptions in less than half a year – an average of 5.3 months.
When it comes to differences in ages, shoppers over the age of 55 seem to be the most loyal. They are the most likely age group to maintain a subscription for over a year.
The research suggests that the fact that many consumers cancel their subscriptions, could have something to do with the coronacrisis. During the pandemic, many consumers started signing up for these kinds of services, because stores were closes, but they still needed to have certain products. However, stores are opening up again, which means that consumers won’t necessarily need all subscription services anymore.
Along with that, 52% of UK consumers either have or are planning to commit to a monthly subscription for products. But at the same time, 38% think subscription services are too expensive, or bad value for money. And 18% canceled the subscription when the free trial ran out.
We’ve reported that misconceptions make young Brits more vulnerable to fraud.
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