Consumer Trends Report | Q1 2024
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.
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.
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.
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