2Checkout’s global survey revealed that “surprise” charges led to subscription cancellations among 72% of consumers in March and April 2020.
Subscription streaming services like Netflix and Spotify were purchased by 64% of consumers despite the pandemic, the report found. 49% of participants bought at least one software-as-a-service subscription in the last 12 months.
The ability to unsubscribe anytime is a factor 79% consumers consider before subscribing. 69% of those polled prefer paying by debit or credit card and 46% use their PayPal or ApplePay subscriptions for purchases.
Further, 45% reported subscribing to one subscription per year, while 28% subscribe to two to five new subscriptions annually. 46% of those polled favour annual payments for billing cycles followed by monthly billing at 34%. 66% consumers prefer buying through desktops and 48% prefer mobile.
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