Consumer Trends Report | Q1 2024
Quarterly Changes in Consumer Behavior
Explore the latest spending and ecommerce trends in this quarterly study of 1,000 U.S. consumers. This Q1 report reveals consumer priorities at the start of 2024 and the factors influencing purchase decisions across online and brick-and-mortar channels.
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Key Insights
Cost is the most significant factor driving purchase decisions on Amazon, the marketplace where more than half of consumers start online product searches. With inflation still a persistent concern, more than 70% of consumers are looking for products with the lowest price.
TikTok’s role in ecommerce — and its influence on consumers — is accelerating. One in three shoppers browse TikTok Shop at least once a week, and nearly one in four have bought a product there. Among Gen Z and Millennial consumers, those numbers are even higher.
Augmented reality and artificial intelligence are changing the way people shop. On Amazon, use of the “View in Your Room” tool has led one in three shoppers to make a purchase they would otherwise only make in person.
What’s inside this free report:
- A pulse check on consumer spending: Where, when, and how people are shopping, what they’re buying, and what’s influencing their choices. Fine-tune your marketing and product strategies to align with consumer demand.
- Insights on social media’s disruption of the ecommerce space, including data on the rise of TikTok Shop and its impact on shopping behavior. Adapt your social media marketing to better drive engagement and conversion.
- Data on which product categories are most (and least) price-sensitive as consumers juggle economic concerns. Optimize your catalog, pricing, and promotional investments to maximize profits and stay competitive.
About the report
Methodology
Jungle Scout conducted an anonymous survey between Feb. 21 and Feb. 23, 2024, among 1,000 U.S. consumers about their buying preferences and behaviors. Respondents represented 50 U.S. states, all genders, and ages 18 to 75+, as well as various employment types and income levels. Amazon market trends data was gathered using Jungle Scout’s market intelligence tools. Read the full report for more details.
Using the data
We invite you to explore Jungle Scout’s Q1 2024 Consumer Trends Report, and to share, reference, and publish the findings with attribution to “Jungle Scout” and a link to this page.
For more information, specific data requests, or media assets, or to reach the report’s authors, please contact us at [email protected].
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Jungle Scout Cobalt empowers brands and retailers with a powerful suite of ecommerce tools designed to drive growth, maximize sales, and optimize digital shelf performance on Amazon. Comprehensive data analytics, built-in advertising automation, and intuitive visualizations provide straightforward answers to critical ecommerce questions, turning insights into action.
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