New data has shown how changing lifestyles caused by the rising cost of living and end of lockdowns is affecting subscription rates to well-known dating apps.
To find out which ones are losing popularity, Access PaySuite has collated Google search data between January to June 2022, and compared it to stats from the same period last year – with the full results shown in the new study.
The research has revealed that Tinder is the dating app most in danger of being dropped by the British public this summer. Overall, people were 10% more likely to consider deleting a dating app in 2022 than they were in 2021.
This follows on from Lloyds Bank’s April announcement, which revealed that over 1.2 million subscription payments have been stopped by its customers since June 2021.
The apps were among 40 put to the test by the payment software provider. It analysed online search terms such as ‘cancel Tinder subscription’ and ‘how do I cancel Hinge’ to find out which ones are losing popularity as the cost of living begins to bite.
According to the study, searches related to cancelling Tinder – whose algorithms were reported to charge more based on age – have increased by 35% over the past year, which was the biggest rise across all dating apps analysed. Interest in cancelling Hinge and Bumble grew by 33% and 25% respectively.
Not all apps were seeing a downturn, however. Data showed that interest in cancelling subscriptions for some services fell over a period of 12 months. The full research showing the apps with the biggest decrease in searches related to cancelling subscriptions can be found in the study.
Although Tinder’s popularity plummeted, Plenty of Fish saw a 31% fall in the number of searches from users wanting to cancel, with other dating services such as Match seeing intent to cancel dropping by 21%.
In comparison, Spotify – which plans to partner with Google Play Store to offer ‘User Choice Billing’ later this year – saw searches fall by 23%, while searches to cancel its competitor Deezer were 61% less than in 2021.
Despite raising the price of its monthly Prime service for UK customers by £1, searches related to cancelling Amazon’s premium offering fell by 18%.
Subscription-based dating apps like Tinder, Bumble and Thursday offer a huge array of benefits for businesses including reliable, regular income, more security over cashflow and ability to create long-term relationships with customers.
This means apps will be competing to attract new customers over the coming months. The Direct Debit Guarantee means that consumers are protected, so provided they are happy with the product, they can set up regular payments whilst businesses gain from recurring revenue.
Commenting on the findings, Andrea Dunlop, managing director at Access PaySuite, said:
“Whether it’s energy prices or rent hikes, the effects of the rising cost of living is hard to escape. It’s no wonder that people are drilling down into what they spend each month, and getting rid of any costs that don’t provide real value to them.
“With offices, shops and leisure facilities now back open, we’re in a very different position compared to two years ago. Rather than spending evenings at home swiping right, people might have jam-packed calendars with rescheduled gigs, weddings and more, meaning there’s less time for casual dating – or they could be trying their luck at meeting new people in real life while catching up on social commitments.
“Looking at successful services such as Amazon or Spotify gives a good idea of what other businesses need to do to keep their subscriptions strong. Over the years the Prime delivery service has become indispensable to so many customers, while Spotify shows constant commitment to creating an experience that suits the needs of its customers, with everything from UX to the way that they pay. By offering a consistently reliable service, they’re able to provide real value to their customers, and keep them loyal.”