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Subscription fatigue: When too much choice becomes a problem
INXY has done some research for you
Have you ever caught yourself thinking "Why am I subscribed to Disney when my kids only rewatch Toy Story 3 over and over again?" Pretty much all of us have once thought about deleting apps and service accounts to stop this madness. And this interesting phenomenon is called 'subscription fatigue'. How did it appear and what can be done to overcome it? INXY has done some research for you.
What is subscription fatigue?
The subscription has become a staple way for businesses to grow, enabling them to generate recurring revenue, even during uncertain times, such as economic crises. In fact, the subscription economy has grown by more than 435% in the last 9 years and this trend is expected to continue.

Netflix, HBO, Patreon, Apple TV… the list of services can go on and on. Before Covid pandemics, an average American consumer had 12 subscriptions. Those could be, for example, four paid video streaming services, two paid music services, and three paid gaming services. After Covid has taken over our lives, the number of subscriptions has inevitably increased.

And that's become overwhelming.

With so much information, push-up notifications and emails around, people get tired and feel like they can't manage it all. Answer one simple question: "Are you sure you're using ALL the benefits of EVERY subscription?" Most likely, you don't feel like every service you waste your money on actually pays off.
It hurts your wallet, too
With all our entertainment life going online, we've got a bunch of streaming services and subscriptions. That seems to be convenient but once you look at the list of your expenses things don't seem to be so great anymore.

So, what makes subscription fatigue so stressful? Of course, the financial question. According to research:
90% of people claim that money influences the level of stress in their lives
Over 50% of respondents feel that financial aspects are out of their control
About 30% of people said that financial stress impacted their relationships with a partner
Thus, less money means more stress. As we see our hard-earned bucks dripping on 'nothing special', we can start panicking. Who wouldn't?
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Why are people tired?
There's a number of reasons for people thinking to unsubscribe from everything.

First, the services provided by subscriptions do not match their lifestyle anymore. For example, they used to watch a lot of content on Apple TV while being locked during pandemics. With work starting offline, they don't have time for that. People don't need so many printed magazines and newspapers anymore.

There might be other criteria dissatisfying customers:
The quantities delivered are too large to use from one delivery to another. This is often the case with everyday products that pile up and consumers don't have time to use
The frequency of product delivery is too high so that subscribers feel overwhelmed by too many quantities that they cannot consume
The products delivered are not varied enough, which quickly overshadows the excitement of novelty
Consumers' demand keeps changing due to certain circumstances. What we get cannot always match with what we expect.
Price models
may be another factor in point. Yes, paying annually is more beneficial than monthly tariffs, but not all of us can afford to pay the whole sum in advance. And who knows - maybe you will cease using the product in a couple of months. This payment model is profitable for companies, not their clients. People need flexibility while service providers forget about retention.
What can you do about that?
So now you're aware of what subscription fatigue is and what it can prompt in the long haul. Obviously, counteraction is superior to a fix, however, a fix is still better compared to nothing. So the following are two different ways you can battle existing memberships: manually or with a specialized service.

Let's start with the manual.

Step-by-step instruction on dealing with existing subscriptions
1
Go through your bank statements to distinguish your memberships
You want to go through the list with extreme attention to detail and choose each and every one. Record them, close by their expense, so you can discover how big is your expense on memberships alone.
2
Recognize whatever it is you feel when you read the numbers
Recognize whatever it is you feel when you read the numbers
3
Find services that basically do exactly the same thing. Prioritize them and delete some
For example, you can realize that you pay for Spotify, Audible and Deezer but you listen to music mostly in one of them
4
If you have some memberships that you don't want to cancel, consider annual payment models - at least you can save on your favorite services
If you have some memberships that you don't want to cancel, consider annual payment models - at least you can save on your favorite services
Go hardcore
The surefire way to cut on your subscriptions is simply to cancel them all at once. Call it a fresh start in your life. Once you do that, you will feel relieved (most likely), so will your budget. You can likewise consider getting an entirely different bank card. Cancel the one where subscription payments come from, and get rid of it.

But please don't mix up credit card payments and direct debits. In the second case, the service provider uses your bank accounts' credentials, not your card's. In this case, you should cancel the subscription manually.
How to prevent the disaster?
Prevention is still better compared to a fix, so when you finally manage to minimize the number of subscriptions, you want to keep up with it. If not, you'll cycle through the past steps over and over again.

Before you click 'Subscribe', ask yourself a few questions:
Do I truly need this?
Is it fundamental?
Is will be having this improve the value of my life?
By holding back and asking yourself before you rashly download or buy, you give yourself the opportunity to think about the outcomes. If you've recognized a genuine need and added value, sure, feel free to buy.

As you can see, dealing with subscriptions manually is time-consuming and the results soon become outdated. It's way too easy to get 'subscription tracking fatigue' while fighting 'subscription fatigue' :) Worry not there's always a smarter way.
Your key to the ultimate control
Subscription management might become an overwhelming challenge for all of us. However, you can fix the subscription fatigue in one day using the INXY subscription management tool. We will help you track your subscription, see invoices and payment due dates. With this information at your fingertips, you'll be able to easily cancel or change your memberships.

INXY Subscription tracker presents a new way to bring your subscriptions to order.
How to find all subscriptions and keep them up-to-date?
INXY's automated solution extensively uses open banking platforms that allow it to securely detect recurring transactions (subscriptions) by fetching data from customers' banks.

Built-in integrations with accounting software (Xero, QuickBook) allow parsing all transaction feeds and invoices.

Here's how you can control your subscriptions with this platform:
1
Access the organized dashboard, regular reports and subscriptions catalog with AI makes it easy to see the whole picture and make smart decisions
Access the organized dashboard, regular reports and subscriptions catalog with AI makes it easy to see the whole picture and make smart decisions
2
INXY virtual card serves to manage (purchase, cancel, pause or modify) subscriptions from within the app
INXY virtual card serves to manage (purchase, cancel, pause or modify) subscriptions from within the app
3
Set up smart alerts synced to calendar, email and various messengers
Set up smart alerts synced to calendar, email and various messengers
4
Chat bots allow you to get feedback from your team or family with important notes & reviews
Chat bots allow you to get feedback from your team or family with important notes & reviews
Approach subscriptions consciously - get rid of what doesn't suit you anymore and optimize your savings. With INXY, it becomes easy as never before.
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