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BizReport : Ecommerce archives : October 08, 2018

Study: Shoppers don't want ties

And not just neckties. New data out from The Digital Marketing Association finds that a majority of shoppers don't want to be longterm ties to brands and will, in fact, pay more for products just so they won't be tied down.

by Kristina Knight

Researchers with the DMA's Customer Engagement - Acquisition and the Consumer Mindset study found that 73% of consumers avoid long-term service contracts and that just over half (54%) look for the "most flexible" subscription options, despite the cost savings associated with longer term commitments.

But your business doesn't include a subscription option? Perhaps it should. The researcher further found that nearly half (45%) of subscription shoppers "would pay more" for products/services that are included in subscription plans. The key, of course, is to find the right subscription plan and option for the customer base.

"Flexible subscriptions are well-suited to a consumer's desire for more choice and control across all aspects of the customer experience. These offer customers a way to try something new without having to commit themselves to a long-term relationship - offering a combination of increased convenience, competitive prices and better service," said Rachel Aldighieiri, MD of the DMA.

Other interesting findings from the report include:

▪ 77% of parents are in at least one subscription service
▪ 83% of households with incomes over $75,000/year have at least one subscription
▪ 59% of Millennials believe subscription services are valuable

More results from The DMA study can be accessed here.

Tags: Digital Marketing Association, DMA, ecommerce, ecommerce trends, loyalty marketing, mobile marketing, subscription service trends

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