2024 has seen significant changes in shopping trends with economic uncertainty and increasing inflation prompting consumers to be more mindful of their spending habits. The era of revenge spending and impulse buying to recapture lost time or experiences is fading away. Instead, people are engaging in what is known as “loud budgeting”, embracing fun-flation by splurging on things that bring them happiness, and forming buy-it-for-life communities, focusing on long-term value and bending reality regardless of their budget.
Today, we are unveiling the second annual What’s Next 2024: Shopping Trend Report, offering insights into what matters to consumers now – the new emotions, communities, and relationships shaping the shopping landscape. The report highlights trend signals from our community using data, brand examples, and case studies, ushering in a new era of shopping.
Shopping trends on TikTok are rooted in the “What’s Next” culture, where the Creative Bravery mindset of the community, driven by curiosity, imagination, vulnerability, and courage, intersects with more mindful, effective, and strategic spending habits. Consumers are leveraging TikTok to shape their reality, adapting to evolving needs for joy, community, and trust.
Sofia Hernandez, Global Head of Business Marketing for TikTok, noted the profound transformation in how people interact with brands and make purchasing decisions. The shift from fleeting viral trends to deliberate and informed buying choices is reshaping the retail landscape. Today’s shoppers are motivated by joy, curiosity, and the pursuit of long-term value, valuing authentic brand relationships over superficial interactions.
In this evolving shopping environment, brands must adapt to meet the changing needs of consumers and combat overstimulation. Platforms like TikTok provide insights into the shifting priorities of shoppers, emphasizing the importance of emotions, communities, and genuine connections. Brands that leverage these insights can cultivate deeper, more meaningful relationships with their audience, fostering loyalty beyond fleeting trends.
The report categorizes its findings into three main sections, each accompanied by relevant shopping trend signals that are reshaping consumer habits:
1. Bending Emotions
2. Bending Communities
3. Bending Relationships
In the Bending Emotions category, TikTok serves as a hub where mood-boosting entertainment, shopping, and community intersect. Consumers are seeking out brands that bring them joy and relief from a saturated market, opting for products that align with their values and foster a sense of connection. Brands like Kinder World are focusing on building genuine relationships with consumers, resonating with TikTokers seeking authentic brand interactions.
Bending Communities highlight the emergence of communities as a form of self-care, fostering connections to combat feelings of isolation. Conscious consumers are turning to TikTok for trusted advice on high-end purchases, with brands like Klarna engaging with the #BuyItForLife community to offer guidance on investing in luxury items. TikTok’s diverse and vibrant communities are breaking traditional demographic barriers, creating a new hybrid culture that celebrates individuality and shared experiences.
In the Bending Relationships section, marketers are shifting towards collaborative and transparent relationships with consumers. Brands that involve customers in the product development process are building stronger connections, while leveraging AI to streamline the shopping experience. Consumers are actively participating in AI experiments, with brands like Second Cup using ChatGPT to enhance customer engagement.
The report’s methodology relies on data from the Global TikTok Marketing Science team, drawing from various research studies conducted from 2022 to 2024. The insights gathered reflect the current trends and forces shaping the shopping landscape in 2024, guiding brands towards building meaningful connections with consumers in an ever-changing retail environment.