Problem Statement

When consumers have too many subscriptions and aren't able to keep track of them. This can lead to unnecessary and inconsiderate spending.

Difficulties canceling

When it comes to having too many unnecessary subscriptions. Consumers often would want to cancel their plans in order to save money. In February MyBankTracker.com survey reported 40% of its consumers are having difficulties with canceling their subscription. Consumers are likely to forget or subscriptions makes it hard for the consumers. Consumers didn't realized they were being signed up for a "membership" and had to call customer service to end it.

Source_ CNBC, Business Insider

Subscription Fatigue

Consumers are often overwhelm because of having too many subscriptions and gets nervous when they don't make the most of the apps the regularly pay for. This makes sense because "10% of millennials spend $200 or more every month on subscription services." Consumers feel like they are not gaining anytime from their purchases and felt "like a whole other job staying on top of these auto pay charges."

Source_ Market Watch, StopAd Blog

Inconsiderate Spending

Often consumers don't even realized they subscribe to a certain subscription anyway. "55% of U.S homes are spending $2.1 billion a month on streaming services". The spending on these small transactions that most people don't notice can add up to a large amount at the end of every month."67% of the people with the gym memberships never use them". Federal Reserve warns that 4/10 American Adults couldn't cover a $400 emergency expense.

Source_ Market Watch, Forbes, Waterstone

Proposed Solution

Create a platform where consumers can monitor, cancel and get notified for their subscriptions.

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Proposed Solution

Consumers will be aware of how much they spent and evaluate the importance of their spending through these proposed features.

The ability to monitor and track their spending activities. These activities are depending on each subscriptions. Also track the activities of each subscriptions and suggest cancellations.

Monitor

The ability to organize and manage their subscriptions within the app. This allows consumers to categorize their subscriptions into desired category for easy findings/selections. The choice of canceling their memberships right away through the app is available.

Manange

To get notified with the due dates to the subscriptions and be prepared for these charges. Notify via text also if needed.

Notify

Target Audience

The majority of the target audience are online shoppers and E-commerce subscribers. The growth of 100% in the past 5 years within the e-commerce market implies that the needs for these consumers are increasing.

15% of the online shoppers are using subscription services. The majority are 25-44 years old with an income of $50k - $100k per year and lives in urban environment. Subscriptions service are convenient and are suitable for most millennials who have busy schedules.

Millennials

Source_ Forbes

Even though women account for 60% of subscriptions, but men are likely to have 3 or more active subscriptions. The average subscriptions an active subscriber has is 2. However, nearly 35% have 3 or more and are mostly men. "Men value automated purchasing to save time by reducing store trips."