The United Kingdom is a nation of ‘Super Subscribers,’ with Britons paying an average of £620 per year on subscriptions.
The United Kingdom continues to be a nation of “Super Subscribers,” with Britons paying £620 per year on subscriptions, up from £552 just a year before.
According to a survey of 2,000 adults, digital and “deliver to door” services have become such an important part of people’s life in the UK that eight out of ten homes have signed up for at least one subscription service, up 16 percent year on year.
Entertainment platforms, such as music and movie streaming services, continue to be the most popular (46 percent), followed by food or meal boxes (16 percent), technology (14%), and beauty/grooming services (12 percent).
According to research from Barclaycard Payments, which processes nearly half of the country’s credit and debit card transactions, the “subscription economy” is now worth an estimated £395 million, up 23 percent in only the previous year.
While subscriptions are becoming more profitable for retailers, nearly half (48 percent) of people who subscribe say they save money as a result, saving an average of £290 per year.
The benefits are felt elsewhere as well, with 45 percent reporting that their subscriptions prevent them from buying things they don’t need.
“Whether it’s entertainment, food boxes, beauty items, or even musical instruments, subscriptions have become a consumer mainstay in British life,” said Marc Pettican, head of Barclaycard Payments.
Subscriptions have become a consumer mainstay in British life, whether it’s for entertainment, lunch boxes, beauty items, or even musical instruments.
President of Barclaycard Payments, Marc Pettican
“While lockdown undoubtedly aided their expansion, our research shows that the popularity of digital and direct-to-door sign-up services is here to stay.
“Subscriptions have a lengthy shelf life because of the convenience, personal touch, and value for money they bring, especially when we adjust to life and new patterns as a result of the pandemic.
“As the subscription economy grows, it will be interesting to see how the range of sign-up products and services offered by shops develops as well.”
The survey also looked at some of the more unusual services that Britons are signing up for, such as cheese deliveries (eight percent), musical instrument delivery (eight percent), and underwear deliveries (eight percent) (seven percent).
Despite the fact that almost half of respondents (45%) relied on subscriptions for convenience during lockdown, the trend appears to be here to stay, with 40% planning to sign up for new services despite the restrictions. “Brinkwire News in Condensed Form.”