Subscription services are growing in popularity across the UK, with 82% of Brits subscribing to at least one service.
The third installation of “A Nation Subscribed: 2018 State of the UK Subscription Economy,” conducted by YouGov, explores the rising preference of UK-based consumers for on-demand, personalised, and subscription-based access to services.
The report provides insight for UK companies in all industries around consumers’ preferences to pay a recurring fee for ongoing access to services, including how:
- Subscription service spending varies between age groups - with the 45-54-year-old group spending the most on subscriptions – £54 per month – followed by 55+ (£49), 35-44 (£47), 25-34 (£37) and 16-24 (£26).
- All ages are contributing to the growing UK Subscription Economy, but different groups are driving growth in different types of services.
- Beyond the traditional subscription services, newer types are gaining traction, especially among younger UK consumers. For example, 25-34-year-olds are most likely to be interested in car-as-a-service.
- UK consumers are driven away from subscription services for various reasons — 32% of subscribers say their top concern is potential difficulties with unsubscribing, while 30% worry about automatic renewals.
Download this report to learn why UK consumers are subscribing, how to increase their rate of subscription, and which industries subscriptions will disrupt next.