Loyalty Intent for that income bracket increased 13% for budget providers over the past three months. At the same time, it dropped 4% for customers making more than $200K per year. 

The data seems to suggest that high-middle-income households are switching, or planning to switch, from a big-three provider to a cheaper alternative. Analysis by economist Shernette McLeod shows that recent inflation was felt more by middle-income and higher-income households in the U.S. compared to lower-income households. Research from LendingClub shows that in 2022 more people earning over $100K per year are living paycheck to paycheck than in 2021.

“It's a great product, great store but prices are way too expensive. Can't afford it with this inflation going on,” one customer recently said of a big-three carrier.

“The Crowd” of real phone customers sharing feedback with HundredX has been feeling happier about the pricing of budget carriers over the last year. Customers’ sentiment towards the price of budget carriers surged almost 15% from a bottom in April 2022. In the last three months, sentiment towards pricing for the budget-carriers has caught up to sentiment for the big-three. 

Much of the recent increase is powered by Boost Mobile, the budget carrier owned by Dish Wireless, the fourth largest wireless provider in the U.S. Price sentiment towards Boost, Cricket, and Metro are all up 14%-17% since their bottom in April 2022, but Boost is up the most overall (17%) and in the last three months (8%). 

“Boost Mobile is a low-cost, high-value mobile phone company which has allowed us to provide phones for our family without breaking the bank,” one Boost customer recently told HundredX.

While sentiment towards price is highest for Metro, Cricket, and then Verizon, Boost is catching up fast. In December 2022, Boost launched Boost Infinite in beta. The plan offers unlimited calling, texting, and data for just $25 a month, far less than plans offered by the big-three providers. 

While the price is right for budget carriers, customers are less pleased with their coverage areas. Price and coverage area are the most important reasons a customer likes or dislikes a wireless provider. 

Coverage area sentiment is highest, by far, for Verizon at 50%, followed by AT&T at 32%. The average sentiment towards coverage area for budget carriers, however, has hovered around 12% over the past three months.

Verizon continues to be the leader in sentiment towards coverage area, reflecting credit for its investment in both its infrastructure and marketing of its coverage area. Verizon, which prides itself on its coverage, covers nearly all of the U.S. with its 4G LTE service. It offers 5G service is dozens of cities across the U.S. 

“Love the 5G coverage and unlimited service plans,” one Verizon customer recently told HundredX. 

Another customer said the service is “reliable.” “(I) can get service in elevators, lower levels in buildings, lower parking decks, in remote areas when others cannot get phone access from their carrier at all.”

HundredX will continue monitoring how customers view their wireless carriers as the economy shifts in 2023. How will middle-to-high-income earners react to continued inflation or other economic problems? Time, and HundredX, will tell.

1. All metrics presented, including Net Loyalty Intent (Loyalty Intent), and Net Positive Percent / Sentiment are presented on a trailing three-month basis unless otherwise noted. 
2. Loyalty Intent represents the percentage of customers who expect to stay with their carrier over the next 12 months, minus those that intend to switch carriers. 
3. HundredX measures sentiment towards a driver of customer satisfaction as Net Positive Percent (NPP), which is the percentage of customers who view a factor as a positive (reason they liked the products, people, or experiences) minus the percentage who see the same factor as a negative.

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