If 2020 was the year of subscribing, 2022 is becoming the year of cancelling. When lockdown began in March 2020, millions of people signed up to online services not just for entertainment (like Netflix), but so they could get essential products without visiting the shops. Remember the rush for toilet rolls and hand sanitiser?
One of the main beneficiaries was Amazon. Its Prime service was already popular before the pandemic, but lockdown helped boost the number of UK households subscribing to around 13.3 million – that’s a staggering 53 per cent.
Times are different now. With inflation soaring, customers are cancelling those lockdown subscriptions. Netflix has been the most high-profile casualty, losing 1.2 million subscribers this year. But Prime’s growth might also be at risk following Amazon’s decision to increase prices. Monthly subscriptions will rise
