2024 Shopping Trends: Navigating the New Consumer Landscape
Over the past few years, the way we shop has undergone significant changes. What used to be a Saturday ritual of scouring retail stores for the best deals has now shifted to scrolling through Instagram, where influencers share exclusive discounts.
Instead of waiting for TV commercials to introduce us to new products, we now encounter them while watching YouTube videos.
In this article, we’ll dive into the shopping trends of 2024, based on insights from our State of Consumer Trends Survey, to help you connect with customers at their preferred shopping moments and platforms. Let’s get started.
How Shopping Preferences Evolved in 2024
1. Flexibility Trumps Subscription Models for Consumers
In today’s market, consumers enjoy a wide range of options when it comes to purchasing products. They can opt for a one-time purchase or choose a subscription service. Additionally, platforms like Afterpay and Klarna allow them to pay either upfront or through installments.
Yet, despite these options, a significant 63% of consumers still favor buying products as the need arises, rather than committing to a subscription. Only 17% actually prefer the subscription model.
HubSpot staff writer Erica Santiago shares her perspective: “I’ve noticed an increase in ‘grocery subscription’ services lately, where you commit to receiving certain items on a regular basis. However, I prefer to buy things as I need them because I don’t want to be tied down to a purchase commitment.”
She elaborates, “For example, I might typically order a lot of fruits and vegetables, so I could subscribe to a service that delivers these items every month. But come summer, when I’m often traveling for vacations or weddings, I might end up with more produce than I can consume. Plus, I’d need to remember to pause the subscription while I’m away.”
For Santiago, the hassle of managing a subscription isn’t always worth it, and it doesn’t necessarily guarantee savings.
“With the number of subscriptions I already have, I’m constantly receiving emails about price increases,” she adds. “It can be overwhelming to decide which ones to keep or cancel. I’d rather just make purchases as needed.”
Furthermore, many consumers prefer to pay in full rather than in installments, with only 21% opting for installment plans.
“An installment plan is just another monthly payment to track, even if it’s temporary,” Santiago explains. “I’d much rather make a one-time payment and not have to think about it again until I need the product next.”
2. Baby Boomers’ Hesitation Toward Social Media Shopping Is Fading
Our report reveals that only a small fraction, about 8%, of Baby Boomers currently feel comfortable making direct purchases through social media platforms. Despite their initial reservations, this trend appears to be shifting.
In the past three months, 20% of Baby Boomers have discovered a new product via social media—marking a significant 41% increase since May 2022. Furthermore, 8% of Boomers have actually made a purchase through social media during this period, reflecting an impressive 50% rise since May 2022.
While these figures indicate growing acceptance, it’s crucial to engage Baby Boomers through the channels they trust most. If your target demographic includes this older audience, you might find more success with traditional methods like TV advertising and search engines.
3. Social Issues Matter to Millennials and Gen Z, But Product Quality Takes the Lead
While aligning with a company’s values is still important to Millennials and Gen Z, the quality of the products remains their top priority.
Consumers do appreciate brands that reflect their beliefs. For instance, 64% of them want businesses to take steps to reduce their environmental impact.
However, recent data shows that social responsibility isn’t as decisive as it once was:
- 58% of consumers think companies should donate part of their profits to charity, a slight drop of 3% from 2023.
- 76% believe companies should focus on improving employee well-being, a minimal increase of just 1% since May 2022.
- Only 7% consider charitable donations as the most important factor when making a purchasing decision.
While taking a clear stance on social issues can help build trust and credibility, consumers ultimately prioritize the quality and value of a product. According to our research, 51% of consumers rank quality and price as the top factors in their purchasing decisions. Additionally, 44% cite concerns about product quality when shopping online.
The Leading Shopping Trends of 2024
1. Gen Z Trusts Influencers More Than Family and Friends—But the Gap Is Closing
Our survey reveals that just over 22% of Gen Z consumers prefer discovering new products through influencers on social media, a sentiment shared by 29% of millennials.
Additionally, 27% of Gen Zers have made purchases based on influencer recommendations in the past three months, with 36% of millennials doing the same.
Influencer marketing continues to be a powerful tool for brands, which is why 50% of marketers plan to increase their investment in this area in 2024.
However, there’s a subtle shift emerging, especially among Gen Z. In our survey, only 9% of Gen Z respondents ranked recommendations from friends and family as a top factor in their purchasing decisions—just 2% less than those who prioritized influencer recommendations.
Despite this, both millennials and Gen Zers in our survey still place significant trust in influencers when making buying decisions.
This trend is understandable: Influencers are often seen as experts in their specific niches. For instance, following a makeup influencer typically means they have more knowledge on the subject than most friends or family members.
For e-commerce brands, this is a compelling insight: While word-of-mouth remains valuable, influencer marketing has proven to wield even greater influence over consumer behavior, making it a critical component of any modern marketing strategy.
2. Social Media Leads Gen Z to Discover New Products, But In-Store Purchases Still Hold Appeal
According to our State of Consumer Trends Survey, 40% of Gen Z consumers (ages 18-24) have found new products on social media within the last three months, with internet searches (28%) and word of mouth (26%) trailing behind.
For e-commerce businesses aiming to capture Gen Z’s attention, it’s crucial to prioritize social media over traditional paid ads for both attracting new customers and educating them about your products.
When it comes to learning about products on social media, 48% of Gen Z respondents prefer short-form videos, like those on TikTok or Instagram Reels. This preference also extends to social media marketplaces where transactions occur outside the app, such as Facebook Marketplace.
However, it’s important to note that 38% of Gen Zers still favor making their purchases in-store.
This highlights the need for a dual approach: while social media should be central to your lead generation strategy, it’s equally important to offer a compelling in-store experience for those who prefer to complete their purchase in person.
3. Social Media Dominates Product Discovery for Millennials and Gen X
For both millennials and Gen X, social media has become the go-to platform for finding new products. Among millennials, 34% rely on social media for product discovery, making it the most popular choice in this demographic.
YouTube ads follow closely, with 29% of millennials using this channel to learn about new products. If your target audience includes millennials, it’s worth considering an investment in YouTube and its advertising options to capture their attention.
Similarly, social media is also the top choice for Gen X consumers (ages 35-54), with 28% preferring this method to discover new products. In addition, 27% of Gen X shoppers turn to internet searches, making SEO a valuable strategy for reaching this group.
4. Short-Form Videos Are the Preferred Way to Discover Products Across Generations
One thing that Gen Zers, millennials, and Gen Xers have in common is their shared preference for discovering new products through short-form videos. In fact, 48% of Gen Z, 47% of millennials, and 36% of Gen X indicate this as their favored method.
If your goal is to engage with these three generations, incorporating short-form content on platforms like TikTok or Instagram Reels should be a key component of your strategy.
5. While Mobile Phones Dominate Online Shopping, In-Store Purchases Still Reign Supreme
Our survey shows that 62% of consumers prefer shopping online using their mobile phones rather than tablets, computers, or other devices.
You might assume this preference means most people also favor completing purchases via mobile apps or websites, but surprisingly, 64% of respondents actually prefer buying items in-store.
“I often discover new products online and engage in what I call ‘virtual window shopping,'” explains HubSpot’s Santiago. “I’ll browse various online stores on my phone without necessarily intending to make a purchase.”
Yet, like 52% of millennials in our survey, Santiago prefers to finalize her purchases in a physical store.
“I enjoy the tactile experience of holding an item, assessing its quality, or trying on clothes in a fitting room—something you can only do in person,” she adds.
This highlights the importance of ensuring your in-store experience is just as seamless and enjoyable as your online presence.
For e-commerce businesses, it’s crucial to have a mobile-optimized website with responsive product pages. If navigating your site on a phone is cumbersome, customers are likely to abandon it quickly. Therefore, following mobile best practices—such as using large text, ample white space, responsive design, and mobile-friendly calls-to-action—is essential.
6. Price and Quality Are Key in Purchasing Decisions—But Their Importance Varies
When it comes to choosing a product, both price and quality are critical factors, though their significance differs among age groups.
For 40% of Gen Z and a notable 71% of Boomers, price is the most crucial consideration when making a purchase.
On the other hand, our survey indicates that Millennials and Gen X prioritize quality over price. Specifically, 33% of Millennials and 46% of Gen Xers rank quality as their top concern when deciding what to buy.
Interestingly, while quality ranks second for both Gen Z and Boomers, it’s clear that both price and quality consistently emerge as the top two factors influencing purchasing decisions across all groups. Therefore, it’s essential to ensure your products are not only competitively priced but also meet high-quality standards.
7. Short-Form Video Presents Significant Advertising Potential
Short-form videos have emerged as the most popular content format on social media, making platforms like TikTok prime channels for advertising. Our survey reveals that 37% of consumers prefer to discover products through short-form videos, such as TikToks or Instagram Reels.
Additionally, 52% of U.S. TikTok users find the ads on the platform to be both fun and engaging—two key elements of successful advertising campaigns.
At a Glance
| Shopping Trend | Key Insights | Statistics | Implications |
|---|---|---|---|
| Flexibility Over Subscription Models | Consumers prefer one-time purchases over subscription services, with a significant portion favoring immediate purchases over commitments. | – 63% prefer one-time purchases – 17% prefer subscription services | Businesses should offer flexible purchasing options, emphasizing one-time purchases and reducing reliance on subscription models. |
| Baby Boomers and Social Media Shopping | Baby Boomers are gradually becoming more comfortable with shopping via social media, though they still prefer traditional methods. | – 8% of Boomers are comfortable with social media shopping – 20% discovered new products via social media (41% increase from 2022) | Brands targeting Boomers should maintain a presence on social media while continuing to leverage traditional channels like TV ads and search engines. |
| Social Issues vs. Product Quality | Millennials and Gen Z value a company’s stance on social issues, but product quality remains the top priority when making purchasing decisions. | – 64% want companies to reduce environmental impact – 51% rank quality as the top factor | Brands should continue to support social causes, but they must prioritize product quality to appeal to these demographics. |
| Influencer Recommendations | Gen Z and Millennials trust influencers for product discovery, though the influence of friends and family is closing the gap. | – 22% of Gen Z prefer influencer recommendations – 29% of Millennials prefer influencer recommendations | E-commerce brands should focus on influencer marketing while still acknowledging the growing influence of word-of-mouth from friends and family. |
| Social Media and In-Store Shopping for Gen Z | While Gen Z discovers products on social media, they still prefer to make purchases in physical stores. | – 40% discover new products on social media – 38% prefer in-store purchases | A dual strategy is necessary: businesses should leverage social media for product discovery while ensuring a strong in-store shopping experience. |
| Product Discovery for Millennials and Gen X | Social media is the most popular platform for discovering new products among Millennials and Gen X, with YouTube ads and SEO also playing significant roles. | – 34% of Millennials prefer social media – 28% of Gen X prefer social media | Invest in social media and YouTube advertising for Millennials and Gen X, while also optimizing SEO efforts to capture this audience. |
| Short-Form Video Advertising | Short-form videos are the preferred method for product discovery across generations, with platforms like TikTok offering substantial advertising opportunities. | – 48% of Gen Z prefer short-form videos – 52% of U.S. TikTok users find ads fun and engaging | Incorporate short-form videos into marketing strategies, using platforms like TikTok and Instagram Reels to reach a broad audience effectively. |
| Mobile vs. In-Store Shopping | Although mobile phones are popular for online shopping, most consumers still prefer making purchases in physical stores. | – 62% prefer shopping online via mobile phones – 64% prefer in-store purchases | E-commerce sites must be mobile-optimized, but the in-store experience should remain a priority, offering a seamless and enjoyable shopping journey. |
| Price vs. Quality in Purchasing Decisions | Price is the most crucial factor for Gen Z and Boomers, while Millennials and Gen X prioritize product quality over price. | – 40% of Gen Z prioritize price – 46% of Gen X prioritize quality | Ensure products are competitively priced and maintain high quality to meet the expectations of different age groups. |
| Anticipated Shopping Trends for 2025 | Omnichannel retailing, sustainability, and micro/nano-influencers in short-form videos are expected to be key trends in the coming year. | – 64% agree companies should reduce environmental impact | Businesses should focus on omnichannel strategies, adopt sustainable practices, and leverage micro/nano-influencers for effective short-form video marketing to stay ahead in the evolving retail landscape. |
Anticipated Shopping Trends for 2025
As we look ahead to 2025, several key trends are likely to shape the retail landscape:
- Omnichannel Retailing Will Dominate: Our survey indicates that consumers across all generations value the ability to shop seamlessly across mobile, online, and in-store channels. Expect businesses to prioritize omnichannel strategies, ensuring a cohesive and enjoyable shopping experience, no matter where or how customers choose to shop.
- Sustainability and Ethics Will Be Paramount: Consumer trust increasingly hinges on a company’s commitment to ethical practices and sustainability. With 64% of consumers agreeing that businesses should work to reduce their environmental impact, it’s crucial for companies to adopt sustainable practices that benefit both the planet and their customers.
- Micro and Nano-Influencers in Short-Form Videos: Short-form video remains a favored format for discovering new products, and the trend is set to continue. Marketers will likely increase their reliance on micro and nano-influencers to promote products on platforms like Instagram Reels, YouTube Shorts, and TikTok, given the success these influencers have achieved.
Developing an effective e-commerce strategy requires a deep understanding of current and future shopping behaviors. As consumer preferences evolve, aligning your business with these trends will be key to sustained success in the years to come.
