The Top Shopping Trends of 2024 and How They've Changed

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Shopping trends have changed significantly in recent years. This article looks at the key shopping trends for 2024, as identified by the Consumer Preferences Survey, to help you better understand where and how shoppers prefer to shop.

How Shopping Trends Will Change in 2024
1. Consumers prefer flexible subscription models.

Today, consumers have more flexibility in choosing how they purchase products.

They can make a one-time purchase or use subscription services. mauritius b2b leads Thanks to popular platforms, they can also choose between paying the full price of the product or installment options.

However, such flexibility may not always be necessary. The study found that 63% of consumers prefer to buy products as needed, while only 17% prefer to subscribe to a product. Moreover, most consumers prefer to purchase products at full price, while only 21% prefer to buy in installments.

2. Baby boomers are skeptical about shopping through social media, but that's changing.

Baby boomers were initially skeptical about the idea of ​​shopping through social media, but new data suggests that this is starting to change. Only 8% of baby boomers feel comfortable shopping directly through social media. However, this attitude is trending toward changing, which could lead to more social shopping in the future.

While positive statistics are encouraging, it is important to consider consumer loyalty. It is important to engage with your audience based on their current preferences. For example, if your target audience is older, your advertising may be better directed to other channels such as television and search engines.

3. A company's stance on social issues remains important to millennials and Gen Z, but product quality is paramount.

Consumers really want to support companies that share their values. For example, 64% of consumers want companies to reduce their environmental impact.

When a company takes a sincere stand, it can be an effective way to gain consumer trust. However, consumers are most concerned about the quality of the product or service and whether it is worth their money.



Top Shopping Trends for 2024
1. For Generation Z, influencer recommendations are becoming increasingly important, but recommendations from friends remain important, too. According to the survey, about 22% of Generation Z consumers prefer to learn about new products through social media influencers, while 29% of millennials do the same.

What's more, 27% of Gen Z consumers say they've purchased a product or service based on an influencer's recommendation in the past three months, while 36% of millennials have done the same.

Influencer marketing has been an effective strategy for brands for several years now, which is why 50% of marketers plan to increase their investment in this area by 2024.

However, the survey suggests some shifting trends, particularly among Generation Z consumers. Only 9% of those surveyed cited recommendations from friends and family as a key factor in their purchasing decisions.

In the survey, the majority of millennials and Gen Zers continue to trust influencers and consider recommendations when making purchasing decisions.

2. People of the new generation prefer to get acquainted with new products through social networks, but they still like to shop in a store.

The State of Consumer Trends Survey found that 40% of Gen Z (ages 18 to 24) discovered new products on social media in the past three months, followed by online searches (28%) and word of mouth (26%).

If your e-commerce business is targeting the middle-aged generation, it is important to focus on social media rather than paid advertising when it comes to attracting new customers to your products and educating those customers about your products.

3. For millennials and Generation X, social media is the most popular way to discover new products.

Like Gen Z, social media (34%) is the most popular way for millennial shoppers to discover new products.

And if the target audience is Generation X (35-54 years old), then social media is also the most popular option. The majority of Generation X (28%) say they prefer to learn about new products through social media.

Additionally, 27% of Gen X shoppers also search for new products online, so SEO is another good option.

4. Millennials, Gen Xers, and Gen Zers prefer to learn about new products through short videos.

What do Gen Z, Millennials, and Gen X have in common? Most of them (48%, 47%, and 36%, respectively) prefer to learn about new products through short videos.

5. Mobile phones are the most popular device for online shopping, but most consumers prefer to shop in-store.

The majority of consumers surveyed (62%) said they prefer to shop online using a mobile phone rather than a tablet, computer, laptop or other device.

6. Price and quality matter most when making a purchasing decision, but not always in that order.

Most Gen Z (40%) and Boomer (71%) respondents believe that price is the most important factor when deciding to purchase a product.

However, the survey shows that millennials and Gen Xers value price over quality. The majority of millennial respondents (33%) say quality is the number one factor when making a purchasing decision, and 46% of Gen Xers say the same.

According to the survey, quality is the second most important factor for Gen Z and Boomers. Regardless of the order, price and quality are the two main deciding factors, so make sure the products are fairly priced and of high quality.



Conclusion
When developing an effective eCommerce strategy, it's important to take the time to understand how shoppers want to shop today and in the future.

Buyer behavior changes over time. The more your business can meet the changing needs of your consumers, the more likely you are to continue to succeed in the future.