The Pandemic’s Effect On Subscriptions And Luxury Goods

Orders to stay at home have consumers spending more on subscriptions – from streaming services to purchasing retail merchandise for day-to-day use. Merchants that provide subscription offerings are thriving, but they are not immune to churn. And in retail, the pandemic is likely to hit demand for luxury goods, with leisure travel in a downturn for some time. All this, Today in Data.

Data:

153.1: Average number of seconds it takes to sign up for a subscription service.

87.6%: Share of B2C subscription sites that provide free shipping.

27M: Minimum number of American consumers at least somewhat likely to cancel their subscriptions.

4.8: Average number of payment methods accepted by IoT/hardware subscription merchants.

3.4%: Amount that luxury goods spending is expected to contract in the Asia-Pacific region this year.