What percentage of people forget to cancel a subscription?

Key findings from the survey include: More than 70\% of the surveyed consumers say they continue paying for unwanted subscriptions because they simply forget to cancel the service before it’s renewed.

How many people forget their subscriptions?

Even worse, 60\% of survey respondents said they have forgotten about at least one recurring payment, and 71\% said they probably waste over $50 per month in recurring subscriptions they don’t need or use any more.

How many people use automatic payments?

35 Percent of Americans Are Enrolled in Auto Pay — and It’s News to Them. Some merchants make it pretty difficult for consumers to cancel a service. Tempted to give that new streaming service or gym membership a trial run?

How do you protect yourself from a subscription trap?

If you do sign up for a free trial, protect yourself:

1. Keep all receipts, emails and text messages.
2. Check your credit card statements regularly for unauthorized charges.
3. Know that you can contact your financial institution to request a stop payment because of suspected fraud.

How many Americans use subscription services?

According to the most recent data, 78 percent of consumers in the United States were using a subscription video-on-demand service in 20201, an increase of more than 25 percent in five years.

How many subscriptions do consumers have?

The typical U.S. consumer now has two to three subscriptions, according to user data from budget app Mint and research by Tien Tzuo, author of “Subscribed” and chief executive of subscriptions platform Zuora.

What are subscription traps?

A subscription trap can trick you by offering “free” or “low‑cost” trials of products and services. Products commonly offered are weight loss pills, health foods, pharmaceuticals, or anti-aging products.

Can you trust free trials?

While offering a free trial of a product or service is perfectly legal, consumers should still be wary. The fine print of those offers end up costing consumers hundreds of dollars. It’s important to understand how free trial offers work so you can avoid feeling scammed by less than honest business practices.