Subscription Usage Reality

The article provides insights into usage rates of subscriptions by analysing a survey conducted by Expert Market Research revealing at what frequency are subscriptions used by consumers. The study reveals how companies can leverage existing business models and provide competition to the industry leaders.

With the advent of subscription-based business models it is essential to find just how much are subscription services being used on a day-to-day basis. A comprehensive study conducted by Expert Market Research which surveyed over 50000 respondents across PAN India revealed just how much are subscription services being actually used by customers.

The subscription-based businesses model is extremely flexible and can allow users to choose from various different platforms. This also provides convenience to a subscriber as they don’t have to commit to a product by buying it upfront but can instead pay a recurring fee which is much more manageable. This model hence offers better value for money which is something everyone can appreciate in such an economy.
Even with all its numerous benefits businesses are many times unable to engage their subscribers causing them to lose retention, this problem can befall any service platform but is usually seen in streaming services where consumers only log on seldomly to check on blockbuster titles. Subscribers not using the service they pay for has also ‘accidentally’ become a business model for Fitness and Wellness institutes as many pay the small fee every month in hopes of self-improvement but never find the time to actually commit. 

Sign Up Then What

The survey shows that over 53% users use their subscriptions more than once a week. This customer base mainly uses Netflix, Spotify, Microsoft, Amazon and more to fulfil their daily needs. These companies have higher usage rates due to their easy-to-use platform and services in a way few others have done. This has allowed these market leaders to succeed and make billions in the process.  There are many lessons industry players could leverage from these Goliaths and use it to grow in the market.

One of the Expert Market Research Study has also highlighted how general usage of subscription platforms have increased in the past decades with millennials and Gen Z unwilling to pay a high upfront cost for a product due to financial instability. The study also forecasts that usage rates for subscriptions are only going to increase and predicts subscription-based model gains more popularity it will become an increasingly important for businesses to understand just how much their subscription services are being used as that is a vital indicator for a subscription-based platforms survival.