While Gen Z has supercharged the subscription economy, they're also among the quickest to walk away from it.
This is something other age groups can learn from too.
According to Visa research, UK Gen Z spends an average of £305 per month on subscriptions, more than three times Gen X. They're also the biggest users of subscription services, with 93% subscribed to at least one.
But...
- 75% report having had a negative experience, including failed payments, unexpected charges or difficulties cancelling.
- One in five say previous payment issues have put them off making a purchase altogether.
Younger consumers are open to trying subscriptions, but selective about committing.
It's not a perfect parallel, but discounted gift cards on Steppr can offer part of the same appeal as a subscription's introductory offer - the opportunity to try something new at a lower cost. The key difference is that there is no ongoing commitment or recurring payment, giving customers on Steppr greater flexibility and control over how they spend.
