Overloaded: 81% of Asian consumers think there are 'too many' subscription services to choose from now
CAMBRIDGE, United Kingdom, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The boom in the subscriptions economy is threatening to overwhelm consumers across India and Southeast Asia, according to a new survey. Well over three quarters (81%) of subscription users believe there are now “too many” subscription services available. As a result, 93% now demand a unified platform to administer all of their subscriptions. Yet, despite many feeling the subscription fatigue, 81% say they would sign up for more subscriptions if they were consolidated through a centralized content hub.
That’s according to new research from Bango, based on a survey of over 6,000+ consumers currently paying for subscription services across India, Indonesia, Malaysia, Philippines, Thailand, and Vietnam.
According to the data, 86% of consumers have 2+ subscriptions and 15% have more than 6. These include services ranging from streaming to food delivery, music to sport, and everything in between.
With so many subscriptions to manage, each on separate platforms, it’s no surprise that consumers are frustrated by the administrative nightmare.
Many are losing track of their current subscriptions, leading to unnecessary costs. Nearly half (44%) say that they’ve kept paying for subscriptions they forgot were still active, while a third (32%) say they currently pay for a subscription service that they ‘never use’.
Too many subscriptions costs consumers both their money and patience. It also sours their opinions on subscription providers generally.
One hub, seamlessly delivered
Though most do say there are too many subscription services, Bango’s study shows that consumers don’t want fewer choices. They simply want a more seamless experience.
According to the data, a large majority of consumers (93%) want all of their subscriptions to be managed through a ‘Super Bundling’ content hub. As defined by Juniper Research, Super Bundling consists of a single payment to a srvice aggregator — such as a telco — for multiple subscriptions such as streaming services, which are delivered through a single online subscriptions hub.
For subscribers in Asia, the ideal content hub would provide:
The majority of consumers (89%) would spend more time using their subscription services if a content hub was available. 91% also believe that having all of their subscriptions in one place would help them manage their household expenses.
As Anil Malhotra, Co-founder at Bango explains, “Managing multiple subscriptions is a headache for users. They don’t want less choice – just less admin. We should focus on building all-in-one solutions that can offer consumers flexibility on billing, a wider variety of choices, and a great user experience. That’s what they really want.”
A new frontier of bundling, led by telcos
When it comes to building this solution, the survey reveals that local mobile network operators may be the key to unlocking Super Bundling. For a majority of consumers in Asia (81%), telcos are the most trusted provider for a centralized content hub. They’re the logical go-to, as two thirds (67%) of consumers already have subscription services included in their phone plan.
The data also shows that Super Bundling content hubs would boost consumer loyalty, with 95% saying they would be more loyal to the brands that provided them. 66% would even leave their current telco provider if this service became available elsewhere, creating significant value for any telco able to capture this opportunity.
In the US and Australia, telcos like Verizon and Optus have already launched ‘Super Bundling’ content hubs, offering centralized hubs for streaming, music, gaming, and more through their +play and SubHub platforms, respectively.
Companies like Bango specialize in the technology behind Super Bundling, ensuring a streamlined experience for consumers, content providers and telcos alike. As Malhotra explains, “Bango’s technology can be thought of as a ‘Digital Vending Machine’ for subscriptions. It’s stocked with every subscription you can think of. Telcos, banks, and any other large business can tap into it, and load it with the subscriptions their customers want. Then they can offer the best deals and discounts as part of a regular monthly bill.”
To view Bango’s research data or to find out more about the Bango Digital Vending Machine, read the full study here.
The Bango Digital Vending Machine provides everything you need for subscription bundling and payments, enabling you to quickly reach new customers and markets. Connect once for a standard system of tools used for customer acquisition, payments and subscriptions, and join an ecosystem of over 150 merchants and resellers already connected to the Bango platform. Trusted by leading technology companies including Amazon, Google, and Microsoft. For more information, visit www.bango.com.