The psychology of subscriptions

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Psychological factors, like decision paralysis and the cashless effect, influence consumer purchasing habits:


The psychology of subscriptions is relevant to my topic of personal financial and wellness, as it offers a look into consumer habits and how we perceive and manage recurring payments. Subscription services may go unnoticed overtime, and people are more likely to spend when not using cash, both of which can lead to overspending and financial strain.

Part of my scope is to offer an extension towards self-growth, and amplify freedom of choice. Diving into the psychology of subscriptions allowed me to hear about the Paradox of Choice, how more options will make people less likely to act. With this in mind, how can I balance the paradox of choice while not limiting people’s freedom of choice? How can I incentivize people to define their own options, but also not steer them away with the thought of all the possibilities? If there is no mental model for living today while balancing a responsible future, how does that begin?


References

Hughes, A. (2021, July 6). The psychology of subscriptions. Cerillion. https://www.cerillion.com/blog/the-psychology-of-subscriptions/