As the cost-of-living crisis keeps soaring, ThinkCX, a Market Intelligence company’s data suggests that UK consumers are switching broadband internet services and looking for cheaper broadbands due to inflation.
As per the report, in this high inflation environment TalkTalk and BT are two broadband services that are seeing a significant rise and fall in their subscribers respectively.
The graph represents that BT had been enjoying month-over-month market share gains prior to February 2021, but it tailed off considerably after September and constant small losses became commonplace for BT in 2022.
As for Talk Talk, the graph showed a reverse trend. Talk Talk consistently lost market share throughout 2021 and into 2022, but after February 2022, it saw a positive growth in three successive months.
ThinkCX says: “In August 2022, BT experienced its worst monthly performance in the last two years, extending a negative growth trend that began nearly one year ago. And now September’s data shows this negative run continuing. The reverse was true for TalkTalk over the same period, completely flipping what had become the de facto win/loss script in relation to BT.”
They believe that in a season of inflation, TalkTalk’s budget-friendly services is the key factor that has led to their growth of market share and are intrigued to see if this trend continues.