Cord-cutting is another trend that turns out to be further along than you may have realized. Pixability reports that 41% of U.S. consumers say they’ve already dropped their cable subscription and another 20% plan to leave within the next year. That would leave just one-quarter of consumers watching linear TV. Marketing dollars are sure to follow.
We knew that product-led marketing, such as freemium and free trials, is increasingly popular. But we hadn’t realized that two-thirds of businesses already offer some sort of free trial – including nearly as many B2B (64%) as B2C (69%). That’s according to Recurly, whose study also provides lots of other information on conversions, subscription plans, churn rates, payment methods, and more.
Is the metaverse also growing faster than you thought? Probably not: CommerceNext finds that 75% of consumers have barely heard of it and just 5% visit on a regular basis. Even that group uses it almost mostly for gaming (76%) and socializing (39%); just 30% do any shopping. Most social commerce still takes place on the major social media platforms.
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.