TikTok's 2024 Shopping Trend Report reveals consumers reshaping reality

TikTok this month released its What's Next 2024: Shopping Trend Report unveiling key insights into how consumers are reshaping their shopping habits in response to ongoing economic challenges. The report, which comes at a time when traditional forecasting methods are struggling to predict market behavior, highlights a significant shift in consumer mindset from reactive spending to proactive reality-shaping.

According to the report, shoppers are no longer simply reacting to economic pressures but are instead actively working to bend their reality to fit their evolving needs for joy, community, and trust. This transformation is occurring across three main categories: bending emotions, bending communities, and bending relationships.

In the realm of bending emotions, TikTok has identified three key trend signals. The first, dubbed "Brandship," sees brands moving beyond product value to embody values that resonate with consumers. This shift is reflected in the statistic that TikTok users are 5.2 times more likely to say TikTok is the best platform to connect with brands compared to other social and video platforms.

The second emotional trend signal, "Glimmers," highlights consumers' search for mood-boosting purchases that offer respite from daily challenges. The report indicates that TikTok positively shifts 42% of user mindsets, with users feeling 1.4 times more joyful and inspired than on other platforms.

"Newstalgia," the third emotional trend signal, describes how brands are blending nostalgia with new contexts to bridge generational gaps. This trend is particularly evident in the retro gaming movement, which is attracting both nostalgic players and a new generation of gamers.

In the category of bending communities, TikTok has observed a trend towards "Buy it for Life" purchasing decisions. Consumers, weary of low-quality, disposable products, are turning to TikTok for guidance on higher-end, durable purchases. The report notes that after discovering something on TikTok, 45% of users continued searching for more information on the platform.

"Community Convergence" is another significant trend in this category, with TikTok users 4 times more likely to say TikTok is the best platform for being part of a community. This trend is characterized by unexpected brand partnerships that unite diverse audiences across seemingly unrelated communities.

The third community trend, "Shopping Across Borders," reflects TikTok users' growing curiosity about international trends. The report states that 74% of TikTok users feel the platform connects them with people from different backgrounds and cultures around the world, opening doors for cross-market opportunities.

In the category of bending relationships, TikTok has identified a trend towards greater collaboration between brands and consumers. The "Comments to Concept" trend signal shows that 68% of TikTok users believe brands should use the comment section to better understand their customers, leading to stronger bonds as brands invite customers into the product development process.

The report also highlights the growing role of artificial intelligence in easing everyday shopping decisions. More than half (57%) of TikTok users are interested in AI tools and solutions, with both brands and consumers actively experimenting with AI to resolve decision fatigue in the shopping process.

Lastly, the "Looking for Advice in Finance" trend signal indicates a shift towards more casual discussions about money on the platform. The report reveals that 42% of TikTok users who watched financial content took some form of action, whether it was conducting more research or making a purchase or financial decision.

These trends are emerging against a backdrop of economic uncertainty, with consumers adapting their spending habits in response to rising inflation and shifts in online commerce. The report suggests that brands that can tap into these trends and connect with consumers on a deeper level will be better positioned to thrive in the evolving landscape of shoppable entertainment.

It's important to note that while this report provides valuable insights, it represents a snapshot of current trends and should not be considered a guarantee of future market behavior. As with all trend forecasts, businesses should consider this information alongside other market research and their own customer data when making strategic decisions.

The release of this report comes as social media platforms increasingly position themselves as not just entertainment hubs, but also as crucial touchpoints in the consumer journey. TikTok's focus on these shopping trends underscores the platform's growing influence in the e-commerce space and its potential to shape consumer behavior.

As the retail landscape continues to evolve, reports like TikTok's "What's Next 2024: Shopping Trend Report" serve as valuable tools for businesses seeking to understand and adapt to changing consumer preferences. By highlighting the ways in which shoppers are actively reshaping their reality, the report provides a roadmap for brands looking to create more meaningful and effective connections with their target audiences.

Key facts from the report

TikTok users are 5.2 times more likely to say TikTok is the best platform to connect with brands compared to other platforms.

TikTok positively shifts 42% of user mindsets, with users feeling 1.4 times more joyful and inspired than on other platforms.

45% of users continued searching for more information on TikTok after discovering something on the platform.

TikTok users are 4 times more likely to say TikTok is the best platform for being part of a community.

74% of TikTok users feel the platform connects them with people from different backgrounds and cultures around the world.

68% of TikTok users believe brands should use the comment section to better understand their customers.

57% of TikTok users are interested in AI tools and solutions.

42% of TikTok users who watched financial content took some form of action, such as conducting more research or making a financial decision.