72% believe there are ‘too many’ subscription services
The findings come from a new research study undertaken by Bango, which collates data from 2,500 consumers currently paying for subscription services.
Customers’ biggest complaints about online subscription services
Nearly three quarters of subscription users (72%) say there are “too many” subscription services available today.
The survey revealed that the average subscriber pays for five different subscriptions each month, and 19% pay for eight or more.
But, nearly half of subscribers (45%) say they find it hard to keep track of where and how they signed up for these subscriptions. What’s more, 35% have no idea how much they spend in total each month, while 34% say they currently pay for a subscription service that they ‘never use’.
According to the survey, not only does this represent a significant additional cost, but it is also damaging the wider perceptions that customers have of subscription services at large.
The top frustrations that the survey respondents reported include:
- Managing and updating personal details (48%)
- Accessing accounts across multiple devices (47%)
- Paying bills (43%)
- Cancelling subscriptions (43%)
- Renewing contracts and subscription (42%)
Interestingly, to address these issues, 78% of consumers said that they would like a single platform to manage all of their subscriptions.
In fact, even despite the widely held feeling of being overloaded with options, 63% of subscribers say they would pay for more subscriptions if they came as part of a centralised ‘superbundle’.
77% also said that they want to be able to pay for multiple subscriptions through a single monthly bill, and 79% believe that having all of their subscriptions in one place would help them manage their household expenses.
“Subscription users don’t want less choice, they want less admin. They’re tired of managing multiple services, multiple accounts and paying multiple bills. What’s needed is not fewer subscription services, it’s a way to bundle all those subscriptions together. We need to focus on creating all-in-one solutions that give users the best prices, provide flexibility over bills, and that put subscribers first,” commented Anil Malhotra, Co Founder of Bango.