The study reveals that 37% of UK consumers have signed up to at least one new subscription service since the first lockdown in March 2020, a positive recruitment story. Ongoing pandemic measures are also driving consumer loyalty, with nearly three quarters of new subscribers (72%) likely to continue. It’s a win-win scenario for subscription marketing.
The coronavirus casts a long shadow affecting the economy and shopping habits. As we ease along the roadmap to normality consumer attitudes and behaviours are continuously as people increasingly choose to make online purchases and switching to subscriptions. The slowdown in business in 2020 will only increase the real competition among subscription-based businesses as non-subscription companies convert to this model to meet new consumer demand for services.
As the market recovers and brands reboot, we can expect real clutter. To achieve success marketers must focus on audience for each sector. Generational appetite for subscription varies by sector. Typically we see 18-24s looking for music and streaming experiences; 25s-34s are most likely to sign up for fast-growing fitness & wellness services; whilst reading (books, magazines, publications), wine and food remain strong in the older cohorts. That said, the lines are rapidly blurring as subscription is more widely adopted by consumers and the market grows.