Ashbourne News Telegraph

Making the most of your subscripti­ons?



MANY of us signed up to new subscripti­ons, to keep ourselves entertaine­d during the pandemic.

Despite many people now spending less time at home catching up on box-sets and cooking, as lockdown restrictio­ns ease, a large number are staying signed up to their subscripti­on services.

Eight in 10 (81%) UK households are signed up to at least one subscripti­on, up from around twothirds (65%) last year, according to Barclaycar­d Payments.

It put the value of the ‘subscripti­on economy’ at around £395m – up by 23% compared with 12 months ago. Meanwhile, 40% of people say they’re planning to sign up for more services, despite the easing of restrictio­ns.

Entertainm­ent platforms were found to be the most popular service people have signed up to, followed by food and meal boxes.

But the booming popularity of subscripti­ons has also led to retailers expanding into providing a greater range of bespoke and customisab­le offerings.

The more novel subscripti­ons people are signed up to include deliveries of cheese, musical instrument­s, and even underwear, the research found.

People aged between 25-54 are particular­ly likely to have fitness subscripti­ons, while restaurant meal kits are popular with those aged 18-24.

Meanwhile, over-55s are particular­ly likely to be signed up to regular services related to their pets, according to the findings.

When it comes to the age groups most likely to be signing up, 25 to 34-year-olds are most likely to have at least one subscripti­on, at 94% compared with 64% for those aged 65-plus. Yet the older groups are catching up fast, with a 52% increase in the proportion of over-55s with subscripti­ons over the past year.

Some 70% of over-55s are now estimated to have subscripti­ons.

Meanwhile, 18 to 24-year-olds estimate they spend the most per year on subscripti­ons, at £874. This age group also claims to save the most via subscripti­ons (£338), followed by those aged 25-34 (£334).

Younger consumers were also particular­ly likely to say they listen to the recommenda­tions of influencer­s and celebritie­s, Barclaycar­d Payments found.

A general agreement was found across all age groups that subscripti­ons are here to stay.

For some people though, it may be time to take a fresh look at what they are paying for – as separate research from website Topcashbac­k found that nearly half (48%) of subscripti­on owners have continued to pay for subscripti­ons or membership­s in the past, despite not getting value for money.

Subscriber­s will continue to pay for six months on average for services that they do not use regularly – wasting around £105 per person.

Half of subscriber­s say they have seen prices hiked in the past few months too.

It can be easy to lose track with subscripti­ons, so here are some tips from website Topcashbac­k...

1.Have a monthly review

Looking at what you use and what you don’t every month will help you to spot price hikes. A couple of pounds extra per month might not seem much, but when it’s happening across multiple services, you may want a rethink or have a cull.

2.Set reminders to end free trials

If you took up a free trial, enter the expiration date into your calendar to avoid any extra charges.

Take time to read through the terms and conditions before accepting any trial period, to make sure there are no hidden charges.

3.Use it or lose it

Don’t feel guilty about ending your contract. If you express your concerns to the retailer, they may even take some money off your next bill. And if you’re still unhappy, cancel. Just make sure you won’t face charges for cancelling a subscripti­on early.

4.Paying up-front could pay off

It may be helpful to pay for subscripti­ons annually rather than monthly as many firms, such as retailers and gyms, offer a discounted price to members who pay on a yearly basis.

You may also be able to save money through cashback websites such as Topcashbac­ Just make sure you are very confident you will be getting the use out of the subscripti­on to warrant forking out up-front.

5.Sharing is caring

If you live in shared housing, keep track of the different services you and your housemates subscribe to.

If two people subscribe to the same service, you could cancel one contract and split the monthly cost.

As long as the company allows for multiple users on a single subscripti­on, you can reduce your costs overall.

 ??  ?? Entertainm­ent platforms were the most popular service people signed up to
Entertainm­ent platforms were the most popular service people signed up to
 ??  ?? Fitness subscripti­ons have proved popular with those aged 25 to 54
Fitness subscripti­ons have proved popular with those aged 25 to 54
 ??  ?? Cheese deliveries were one of the more novel subscripti­ons
Cheese deliveries were one of the more novel subscripti­ons

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