Gen Z and millennials aren't as jazzed as they used to be about forking out for unli swipes and extended matches.
👉 Background: Bumble is the female-focused dating app where women make the first move. Since it launched in 2014, Bumble has been responsible for over 5,000 engagements and weddings!
👉 What happened: The good news is that Bumble has been growing sales at a steady 16% over the last three months. But the growth in its paid subscriptions has been slowing down, especially with younger users.
👉 What else: Gen Z and millennials aren’t as jazzed as they used to be about forking out for unlimited swipes and extended matches.
💡Inflation is impacting the hip pockets of young daters, and is therefore making people money-savvy. Slow growth for Bumble’s paid app features show us that people are cutting back on non-essential purchases.
💡 Zillennials have started spending less on dates too. That's because almost a quarter of young people say they’ve gone into debt from over-spending on dates.
💡So when the choice is between paying for unlimited swiping or a high-quality date, Gen Z is choosing quality over quantity.
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