TikTok2024 has experienced transformative changes with economic uncertainty and rising inflation forcing shoppers to become smarter with their spending habits. Gone are the days of revenge and doom spending, where shoppers try to buy back the time and memories lost on the outfits they could've worn or experiences they could've had. Now, people are intentionally spending through "loud budgeting", adopting fun-flation - spending big on what brings them joy - and building buy-it-for-life communities, willing opportunities and bending reality, no matter their wallet size.
Today, we're launching our second annual What's Next 2024: Shopping Trend Report, where we offer a glimpse into what's important to shoppers now – the new emotions, communities and relationships. The new report highlights trend signals from our community using data, brand examples and case studies, driving a new era of shopping.
Shopping trends on TikTok are rooted in "What's Next" culture - where the Creative Bravery mindset of the community, fueled by a blend of curiosity, imagination, vulnerability and courage intersects with more mindful, effective and strategic spending habits where shoppers are using TikTok to bend their reality, adapting to evolving needs for joy, community and trust.
Sofia Hernandez, Global Head of Business Marketing for TikTok said: "We are witnessing an era of profound transformation in how people engage with brands and approach their purchasing decisions. The shift from consumption of fleeting viral trends to more deliberate and informed buying choices is reshaping the landscape. Today's shoppers are motivated by joy, curiosity and a desire for long-term value, prioritizing genuine brand relationships over superficial interactions. In this new shopping landscape, it is imperative for brands to rise to the occasion and support overstimulation. Platforms like TikTok offer a window into the evolving priorities of shoppers, highlighting the importance of emotions, communities and authentic connections. The brands that harness these insights can forge deeper, more meaningful relationships with their audiences, creating loyalty that transcends the temporary allure of must-have products while those that cling to outdated strategies risk being left behind."
You can view the full ‘What’s Next 2024: Shopping Trend Report’ here.
The report findings are separated into three categories and accompanied by the relevant shopping trend signals that are reshaping spending habits. The three categories include:
- Bending Emotions
- Bending Communities
- Bending Relationships
Bending Emotions
TikTok is where mood boosting entertainment, shopping and community collide. Our community embraces a lighthearted and hopeful approach as they share moments of joy and highlight brands that contribute to these positive glimmers. Shoppers are more selective with their spending and are seeking out brands bending their yearning for joy into shopping that gives them relief from an overwhelming market.
On TikTok, brands are going beyond the value of a product, to the values that build friendship-like bonds with consumers. Brands like Kinder World are turning to ongoing actions and content that reflects their brand values outside of traditional flashy campaigns but signals to audiences who they really are and what they care about. That's why TikTokers are 5.2x more likely to say TikTok is the best platform to connect with brands (TikTok Marketing Science Global TikTok Comment Section).
Bending Communities
Communities are becoming a new form of self-care, bending bridges of belonging to soothe feelings of loneliness. Conscious consumers are trading “viral” for value and turning to TikTok as a trusted shopping companion for higher-end purchasing decisions, from clothing to cars.
Consumers are breaking free from traditional demographics and embracing multifaceted identities within TikTok's vibrant communities. When these communities intersect, it's the dawn of a new hybrid culture, exchanging and blending unique traits.
TikTok users are curious about what's trending in other regions too, unlocking greater cross-market potential. In fact, three-quarters (74%) of people on TikTok feel the platform connects them with people from different backgrounds and cultures around the world (TikTok Marketing Science Global Diversity on TikTok Study 2022, conducted by Flamingo Group).
Bending Relationships
Marketers are bending one-way brand and consumer relationships with heightened collaboration and transparency. Brands that invite customers into the development process are developing stronger bonds. As TikTokers share their open and honest reviews, strategic brands are closely listening and adapting real-time feedback into new product formulations and consumer engagement touchpoints.
In a new twist, brands and consumers are actively experimenting with AI to resolve decision fatigue in the shopping process. The reluctance of AI is being steadily eclipsed by a growing wave of exploration, as our community and brands dive into AI's possibilities and share their findings on TikTok. For example, Second Cup brewed up an April Fool’s prank campaign using ChatGPT, adding a dash of artificial intelligence to the mix.
A note on What's Next Methodology
This report is heavily supported by data from the Global TikTok Marketing Science team gathered across multiple third-party commissioned research studies utilizing mixed methods approaches often including quantitative online surveys, exposure to stimuli in a mock TikTok environment and/or advanced analytics. In this report, we've focused on studies from 2022 - 2024, which are most relevant, innovative and speak to the larger trend forces at play in 2024.
