West Monroe fielded a survey in 2018 delving into consumer spending on subscription services. Each of the 2,500 participants was asked to estimate their monthly spend on subscriptions, itemize their actual spend, and provide a level of satisfaction with products and services spanning 21 different categories such as wellness, music, and gaming.
The main takeaway then? Consumers were spending a lot on subscription services but didn’t truly grasp how much they were actually spending. That disconnect has only intensified three years later.
We know this because we conducted the same survey again in 2021. Not only are Americans spending more each month on subscription services, their estimates for how much they spend substantially decreased. Many of these services — i.e., home internet, cable, and mobile phone — seem to have been relegated to a background utility role in people’s minds.