Subscription models for goods have become so widespread, it’s possible to live an entire life without permanently owning anything. Thank the subscription economy, kickstarted over a decade ago by the likes of Netflix, Spotify, Blue Apron, and Uber, and today encompassing nearly every element of daily life. Now, you can pay for monthly access to software, news, entertainment, your work wardrobe, your morning cup of Joe, and even your regular dinner out.
It’s not hard to see why. Companies can make more money selling something repeatedly than selling it just once, especially if, like would-be gym goers, their repeat buyers forget they ever signed up, leaving sellers to collect a hefty monthly payment. The problem of forgotten subscriptions is so large there’s now a robust ecosystem of startups, such as Trim and Rocket Money, promising to save users money by ferreting out and canceling the subscriptions they forgot about.
