Globally the trend evolves on a sustainable line where convenience, the value of the service, cost savings, selection and personalization drive the excitements.
According
to the recent survey from Vindicia; a new study that wanted to understand consumer
demand for value-added subscription services, people are increasingly interest in
extras and a willingness to pay more for the added benefits that matter to
them.
More specifically, 90% of consumers are interested in
upgrading from a basic subscription to a package with added privileges such as discounts,
exclusive offers and access to events or activities with other subscribers.
In addition, 76% of consumers are willing to pay $3.99 extra each month for a
subscription that gives them special access to premium content or members-only
benefits, with that percentage increasing to 84% if the price is set at $1.99
extra.
The study also revealed why
some consumers choose to cancel their subscriptions. One can then observe that,
among consumers who recently canceled,
39% said they didn’t see the value of the subscription, 36% said they no longer wanted the
financial obligation, and 34%
said the subscription was no longer relevant to them. Another 13% cited billing complications, such
as difficulties with updating credit card information and confirming payment
details.
Meaning inter alia that, sustained
and obvious value for money, demand for value-added benefits are the game
changer as consumers are very willing to pay for the services they value.