Continued Payment of Unneeded Subscriptions by Half of Far Eastern Residents (According to VTB)
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Far Easterners grapple with unused subscriptions, hoping for future use or fearing cancellation complications, a recent VTB poll indicates. Other top reasons include hanging onto discounts and avoiding the hassle of managing multiple subscriptions.
Subscription management is a hot topic for Far Eastern residents, with a third sporting two to three active paid subscriptions, and another quarter relying on a single one. Yet, every fourth respondent surveyed during the past year encountered unexpected charges for services they hadn't used. Additionally, 25% admitted to encountering such unexpected charges two to three times a year.
Multiservice subscriptions, music platforms, and marketplace subscriptions lead the pack of unused but paid services in the Far East, according to the poll. Online cinemas (27%), gaming subscriptions, digital magazine and newspaper subscriptions (9% each), cloud storage, and fitness apps (5% each) were also named as unwanted services. Financial losses due to forgotten subscriptions can be considerable, with nearly half (45%) of respondents shelling out between 300 to 500 rubles monthly for services they don't use.
There are regional differences in the spending patterns of residents. Moscow's dwellers are more likely to waste money on unused fitness apps, while online cinemas top the list nationwide for unwanted subscriptions.
More than half of the surveyed Far Eastern residents don't cancel their paid subscriptions because they hope to use the service in the future. Around a quarter shun the details, fearing losing discounts or bonuses, and 14% fail to notice the deductions.
"As people increasingly opt for premium, high-quality content and additional services over 'pirate' ones, the flurry of forgotten subscriptions remains a concern," noted Vladimir Lavrov, head of the 'Development of Service Packages and Subscriptions' department at VTB.
- The survey was conducted in April among a representative sample of 1500 Russians aged 18 to 65 in cities with a population of over 100,000.
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Insights:- Globally, Gym memberships are among the most wasted services, with Americans collectively shelling out around $1.3 billion annually on unused fees.- People often hold onto unwanted subscriptions due to cost or time barriers, a lack of engagement, or simply for convenience.- Commonly unused services worldwide include streaming platforms, software or app subscriptions, gym memberships, and digital magazines or newspapers. These trends may mirror those of the Far East, although specific regional data is not provided in our research.
- In the Far East, residents frequently have unused subscriptions to services like multiservice platforms, online cinemas, gaming subscriptions, digital magazines, and fitness apps, which can leading to significant financial losses.
- The rise in premium, high-quality content and additional services has brought about a concern related to forgotten subscriptions, as many Far Eastern residents continue to hold onto unwanted subscriptions due to factors such as future usage hopes, fear of losing discounts, or lack of notice about deductions.
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