Last week I received a letter from The Economist to renew my subscription and noticed how it had changed from previous years – see 2019 and 2021 renewal letters
Notice the following:
- They have moved away from 3 to 2 options in 2021.
- They have still left the Print only edition on the subscription letter even though it is not available. This is showing the customer that they are getting a very good deal with the Print & Digital package.
- In 2019 the Print & Digital package is more expensive than the Print alone option.
With the increasing cost of print media I believe The Economist is trying to nudge subscribers to the Digital option by making the price of the Print version (although not available) the same as the Print & Digital. Therefore the Digital subscription is part of both available options.
But there are those subscribers that still like the hard copy every week in their letter box but the fact that they are getting the digital version free (if you compare it to the Print only discontinued option) it might nudge them go onto The Economist website and read the magazine through that medium i.e. the Internet. The bonus is if they like the digital version they get rewarded by saving NZ$90 when compared to the Print & Digital option. No doubt The Economist will acquire subscribers email addresses and send them news, offers etc. in the hope of getting them to subscribe to the Digital only option. If the Print option is no longer offered will the price of the Digital option stay the same? I guess not.