Strong Subscribers: Gen Zers and Millennials ‘Willing To Sign Up For Just About Anything’ (New Report)

SurveyMonkey released its “State of Retail Report,” and amongst the variety of retail intel about the ever-increasing importance of flexible shipping, return policies, and personalization were some interesting tidbits about subscriptions.

“Subscriptions, which used to be the domain of streaming services and software, have expanded as a purchase option for a wide range of products — from food boxes to household supplies, beauty products, and clothing,” the report says. “Retailers love subscriptions for recurring revenue streams; consumers like easy access to products and discounts.”

In their findings, only 15% of Gen Zers and Millennials don’t have any subscriptions; as a whole, they are “willing to sign up for just about anything.” 55% of Boomers and 42% of Gen Xers don’t subscribe to anything.

(Source: SurveyMonkey)

As far as reasons to subscribe, 43% of consumers sign up because of cost, either because of discounts or it being cheaper than buying one time. 37% sign up because the product or service is only available via subscription.

(Source: Insider Intelligence)

But companies, beware: consumers don’t like the rug pulled out from underneath them. “Despite their willingness to consider a subscription, consumers don’t want to be forced,” the report says. “Nearly three-quarters (74%) of consumers are likely to stop purchasing a product or service that switches from a one-time purchase to a subscription model.”