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Research by Paysafe has found 27% of consumers expect to see their subscription payments to increase into the next year. This indicates a growing reliance on subscription services by consumers for news, nourishment, education and other services.
According to the global research Lost in Transactions, the surge in demand was also partly due to COVID-19. This was because people opted to subscribe for service out of safety concerns. Subscriptions offer an easy way of getting badly needed goods and services without the need to return to the checkout counter. consumers are looking for simple and hassle-free shopping experiences. And as subscription model businesses meet this demand consumers are buying-in. In fact, 69% of Americans have multiple subscriptions, with 28% stating they have at least four subscriptions.