As meal kit providers look for ways to keep their customers coming back, medically focused subscription service ModifyHealth has found that supporting its food offerings with coaching and monitoring contributes to higher lifetime value. In an interview with PYMNTS, G.B. Pratt, founder and CEO at...
Increasingly, restaurants are finding ways to create recurring payment models to drive customer loyalty outside the typical points-per-dollar rewards program model. According to financial services platform Square’s recently released data from the hundreds of thousands of food and beverage sellers it works with, merchants offering...
As restaurants tinker with ways that they can use subscriptions to boost customer loyalty, Taco Bell is finding that offering short-term menu item “passes” can speed up the process of building loyalty with a given customer, as Chief Digital Officer Dane Mathews told PYMNTS. In...
As consumers rely on subscriptions in more and more parts of their day-to-day lives, Getty Images is the latest to see memberships surge, but this increase is contributing to a decline in one-off purchases. The content creator and marketplace shared in its recent third-quarter financial report...
Failed payments have an impact on customer churn in the subscription business industry. Among all possible causes, declined card payments account for 50% of all customer churn, per market research, suggesting these customers would have remained subscribed if their payments had not been declined. The...
As streaming subscriptions have become the main way consumers listen to music, Warner Music Group (WMG) is seeing a shift, where there are new opportunities to drive revenue from artists’ older content. On a call with analysts Thursday (Nov. 16) discussing the global music entertainment...
OpenAI is putting a hold on new signups for its ChatGPT Plus program, due to widespread demand putting a strain on the platform, as tech companies increasingly rely on consumer subscriptions. The company’s CEO Sam Altman announced the pause in a post to the social media platform X, formerly known...
Following on the success of its limited-time taco subscriptions, quick-service restaurant (QSR) giant Taco Bell is expanding the model beyond just tacos. The restaurant chain announced Tuesday (Nov. 14) that it is launching the Nacho Fries Lover’s Pass, an offer exclusively available to Rewards Members,...
When consumers with retail subscriptions subscribe to new services, PYMNTS Intelligence reveals, they are more likely to stick with what they know than to branch out to new kinds of subscriptions. By the Numbers The PYMNTS Intelligence report “The Impact of Subscription Models on Consumer...
