Subscription payments triple in the UK

The study, called ‘A Nation Subscribed,’ noted an 11% uplift from the previous year’s results. The UK adult population now spends on average GBP 56 per month on subscription services, with 35 – 54-year-olds spending the most at GBP 62 every month.

The increased in spending is due to the growing number of businesses that offer subscription services. According to the Zuora Subscription Economy Index, this business model strategy has proved that subscription businesses grow revenue nearly nine times faster. Mobile commerce is also an important driver as consumers find it easier to sign up and register a card within an app rather than provide their payments information each time they want to make a purchase. 

Subscriptions have moved beyond just media and entertainment consumption and have expanded to include grocery shopping services, attracting nearly 2 million consumers, in-car apps counting 650,000 subscribers in the UK, and beauty and grooming subscriptions like men’s shaving subscription service, Harry’s, with more than 1.3 million British monthly subscribers.

This trend is set to continue growing, as an estimated 25% of UK adults predict that they will be subscribing to more services over the next five years.