People Cutting Back On Food First, Their Streaming Services Last (New Research)
By : Jacob Cohen
Source : The Hustle
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.