1、Shaping The Market 2O24|1Shaping The Market 2O24|11Shaping The Market 2O242024 CONSUMER TRENDS:A NEW EQUATION OF VALUESHAPING THE MARKET 2O24Can Brands Meet the Evolving Needs of Consumers in 2024?A NEW EQUATION OF VALUEShaping The Market 2O24|2Shaping The Market 2O24|22Shaping The Market 2O24TABLE

2、OF CONTENTS01 Convenience02 Eco-mindfulness 03 AI assistance 04 Turn insights into action5-910-18 19-2324-29Shaping The Market 2O24|3Shaping The Market 2O24|33Shaping The Market 2O24SUMMARYIn a landscape redefined by economic prudence,consumers in 2024 are changing their habits.Theyre prioritizing v

3、alue and choosing wisely what they spend their money on.In addition,theyre being more mindful of the environment and opting for technology that improves their quality of living.Businesses that adapt to and resonate with these evolving consumer priorities stand poised to flourish,but they must tread

4、carefully to remain authentic.Daniel Reid Senior Insights Analyst at Similarweb Tightened belts led to a reshaped consumer landscape in 2023,with changes in behavior that will only become more pronounced in 2024.In 2023,consumers looked to low-cost options as they found their wallets squeezed but th

5、is began to ease through the latter part of the year.In 2024,they are prioritizing value and choosing wisely what they spend their money on.Theyre being more mindful of the environment and opting for services and technology that improves their quality of living and gives them more spare time.Busines

6、ses that adapt to and resonate with these evolving consumer priorities stand poised to flourish,but they must keep the consumer at the heart of the decisions they make.Daniel Reid Senior Insights Analyst at Similarweb Shaping The Market 2O24|4Shaping The Market 2O24|44Shaping The Market 2O24In a lan

7、dscape redefined by economic prudence,consumers in 2024 are changing their habits.Theyre prioritizing value and choosing wisely what they spend their money on.In addition,theyre being more mindful of the environment and opting for technology that improves their quality of living.Businesses that adap

8、t to and resonate with these evolving consumer priorities stand poised to flourish,but they must tread carefully to remain authentic.Daniel Reid Senior Insights Analyst at Similarweb Convenience:Increased usage of personalized subscription servicesThe overarching trend we are focusing on highlights

9、the evolution from the cost-conscious environment of 2023 to the value-driven landscape of 2024.Shifting Consumer Trends:Unveiling the Value-Centric Landscape from 2023 to 2024Similarweb performed an in-depth analysis of digital data signals like web traffic and app usage along with behavioral analy

10、sis of consumer searches,surveys and real-world user queries fed into generative AI models,offering a multifaceted view of consumer attitudes in 2024.Eco-mindfulness:Preference for sustainable fashion,local business,and refurbished goodsAI assistance:Using AI to help the overall consumer journey,fro

11、m research to purchaseIncreased usage of personalized subscription servicesConvenience:Increased usage of personalized subscription servicesConvenience:Increased usage of personalized subscription servicesIn this transformation,consumers are inclined towards maximizing the utility of their spending,

12、prioritizing value over cost-effectiveness.Within this value-centric paradigm,three key trends are anticipated to shape consumer behavior:Shaping The Market 2O24|5Shaping The Market 2O24|55Shaping The Market 2O24O1EMAIL PROSPECTINGIN 2024O1CONVENIENCEShaping The Market 2O24|6Convenience reigns supre

13、me as consumers prioritize qualityand priceIn the name of convenience,consumers increasingly turn to subscription-based business models that work for them over traditional retail channels.We observed the rise of subscription services across multiple industries globally-between 4%-14%YoY in the pet f

14、ood,beauty and grocery industries-with usage and growth accelerating through the latter part of the year(2023).These subscription services not only save consumers time and money,but also personalize their offerings to meet the consumers specific needs.BarkboxPet humanisation is an increasing trend i

15、n the industry,BarkBox leverages this to capture a growing segment of dog owners willing to pay premium prices for personalized offerings.Pet Supplies Function of BeautyFunction of Beauty personalizes self-care,catering to a ingredient-conscious consumer seeking efficacy beyond off-the-shelf solutio

16、ns while also receiving huge insight into their customer base.Beauty BirchboxBirchbox delivers beauty discovery through curated boxes.Its appeal lasts beyond convenience and personalization as it gives the consumers the chance to try new products and switch up their routines.Beauty retailerwww.birch

17、box.co.ukShaping The Market 2O24|7Subscription based pet food services experienced dynamic YoY growthPet Food D2C SubscriptionsOct-Dec 2022Oct-Dec 202320.63%United States|Total visitsMarket leader 36.63%United Kingdom|Total visits14.05%France|Total visits3.35%Germany|Total visits17.93M14.86M8.06M5.9

18、0M4.30M3.76M4.24M4.10MMonthly visits 2.5MMarket leader Monthly visits 540KMarket leader Monthly visits 270KMarket leader petsdeli.deMonthly visits 247KOnline Market in Selected Countries,Desktop&Mobile Web in Q4 2023 vs Q4 2022Visits|Similarweb Data,Oct 2023-Dec 2023Highest growth ratesShaping The M

19、arket 2O24|8Consumers ditch the prep to feast like a foodie withoutthe fussConsumers are increasingly turning to meal kits over traditional grocery services with substantial recent YoY growthMeal Kits,Groceries and Combined View-YoY Visit Growth-WorldwideDesktop&Mobile Web,%10%0%-10%-20%2

20、O222O23JanFabMarAprMayJunJulAugSepOctNovDecJanFabMarAprMayJunJulAugSepOctNovDecMeal KitsGroceryTotal 20%9.4MLargest WebsiteQ4 23Monthly visitsLargest AppQ4 231.3MMonthly active users+107%Largest Growth WebsiteQ4 23|837K monthly visits+59%Largest Growth AppQ4 23|178K monthlyactive users,Android*Large

21、st growth of websites or apps with over 100K monthly visitors or active usersHello Fresh is the global market leader in the meal kit space but those seeing the largest YoY growth are those that take convenience to a whole new level.Both youfoodz and Factor_ take even more stress out of the cooking p

22、rocess by offering fully-prepared,nutritionally balanced meals that just need to be heated.Shaping The Market 2O24|9New meal service players pop up regularly,but those who thrive provide consumers value beyond just convenience:Meal Kit Services,Unique Visitors and QoQ Growth-UKDesktop&Mobile Web,Q4

23、2023Meal Kit Services,Unique Visitors and QoQ Growth-USDesktop&Mobile Web,Q4 2023Abel&Cole and Riverford sell organic fruit and vegetable boxes,while Dishpatch gives a restaurant experience from the comfort of your own home.While Factor75 gives consumers chef-prepared meals,the largest growth belong

24、s to Blue Apron who offer sustainable,direct from source ingredients to prepare their nutritionist-approved recipes.The sweet spot where sustainable choice meetsgastronomic gousto.co.ukhellofresh.co.ukUnique visitors%change QoQAvg.unique visitorsAvg.monthly visits10%11%8%-1%-2%4%28.4K50.6K394.2K804.

25、9K307.1K716.4K139.5K264.0K679.6K1.3M2.0M3.3M10%8%-3%-10%-30%-10%889.0K1.5M2.5M4.3M400.4K714.4K739.7K1.5M1.2M2.2M5.4M8.8MUnique visitors%change QoQAvg.unique visitorsAvg.monthly visitsShaping The Market 2O24|10Shaping The Market 2O24|1010Shaping The Market 2O24O2ECO-MINDFULNESSShaping The Market 2O24

26、|11Search Volume for phrases containing sustainability-related keywordsWorldwide,Monthly,2021-2023A green revolution is impacting consumer desire2021100.0M75.0M50.0M25.0M0.0KRecyclableSustainableOrganicChemical freeRefillable20222023Following a record breaking year for global temperatures,consumer s

27、earches for phrases associated with greener purchases are increasing.Even those that saw a recent decline,like organic,are back on the rise.“Green consumerism has gained societal importance as a result of sustainability concerns and growing consumer attention to environmental degradation.”Dr.Rambabu

28、 Lavuri Shaping The Market 2O24|12What matters to you?-My carbon footprintUS,Nov 2023While 29%of US consumers say that their carbon footprint matters to them,this jumps to over 40%for those under the age of 25.A third of consumers between the ages of 25-34 said this sentiment is reflected in their p

29、urchasing behaviors.Gen Z lead by example on the green frontMore likely than one year ago to buyUS,Nov 202350%40%30%20%10%0%Total18-2425-3435-4445-5455+Products made from eco friendly materialsProducts produced locallyBiodegradable productsPre-owned productsManufacturer refurbishedReduced packaged p

30、roductsRecycled productsRecyclable products18-2425-34Total46%35%41%40%41%33%35%41%34%36%43%36%44%37%43%33%29%42%34%29%27%27%Representative sample of US consumers n=2499(total sample)Shaping The Market 2O24|13And their preference to buy sustainable remains unchanged even in the face of a premium pric

31、eYoung consumers are more likely to and perhaps even expect to pay more for products and services that boast sustainable qualities-even those that are associated with a lower cost like refurbished and pre-owned.For some consumers,its not just about saving money as highlighted in their willingness to

32、 pay more for refurbished/pre-owned.Its about aligning values with choices and doing their bit for the planet despite the lower cost of these products.I would pay more forUS,Nov 2023Products made from eco friendly materialsLocal produceBiodegradable productsPre-owned productsRefurbished productsRedu

33、ced packagingRecyclable productsProducts made of recycled materials18-2425-34Total40%40%44%42%43%36%26%24%21%17%33%27%37%31%41%35%Screenshot fromrefurbished tech provider Screenshot from refurbished tech provider Shaping The Market 2O24|14Websites-Top 100 Fashion vs.Sustainable Fashion Avg.Visitors-

34、WorldwideDesktop&Mobile Web,2022-2023While global visitors to top Apparel websites has grown YoY,those centered around a more sustainable business model(sustainable materials,ethical practices,or secondhand retail)grew at a larger pace-particularly in the UK.Sustainable fashion outperforms the overa

35、ll industryYoY%change Top 100 FashionSustainable Fashion637.5M616.3M+3.4%72.9M77.6M+6.4%Top Fashion Apps UK-Fashion vs.Sustainable Monthly Active UsersAndroid Only(Top Fashion Apps),2022-2023Avg 2022 MAUAvg 2023 MAUSustainable Fashion made up of 60 secondhand retail and B-Corp certified brandsTop 60

36、 Fashion apps of which 8 are Sustainable Fashion YoY%change FashionSustainable Fashion172.3K165.4K286.0K327.4K+14%+4%Avg monthly visitors 2022Avg monthly visitors 2023Shaping The Market 2O24|15YoY%change+12%+10%Vinted Visits(all domains combined)-WorldwideDesktop&Mobile Web,2022-2023Vinted is a peer

37、-to-peer marketplace for buying and selling pre-owned fashion.Their meteoric rise in the Fashion industry continues with growing visits and visitors across all platforms.Consumers give pre-loved items a new lease on lifeVinted Avg.Visitors-Unique Visitors&MAU*-WorldwideDesktop&Mobile Web,*Android on

38、ly,Q4 20222023Q4 2023Web visits1.2B1.0B289.2M317.5MYoY%change+24%+19%2022Q4 20222023Q4 2023Web visitorsApp MAU5.3M6.6M6.0M7.0M15.3M18.9M17.5M20.9MShaping The Market 2O24|16#1 in France 30.5M monthly visitsVinteds web traffic throughout Q4 2023 landed them in the Fashion industrys top 10

39、 websites across multiple European markets:Vinted is redefining fashion in EuropeMonthly visits#6 in the UK13.2M monthly visits#5 in Germany9.4M monthly visits#7 in Spain 5.5M monthly visits#4 in Italy6.0M monthly visitsShaping The Market 2O24|17Fastest-Growing Home&Garden Sites 2023-FranceRefurbish

40、ed and repair websites experience impressive growth as consumers stray away from buying new.Many of these services appeared in our rankings of the fastest-growing websites of 2023.Consumers look to breathe new life into productsAvg.monthlyunique visitorsTrafic totalYoY%changeDomainYouzd.fr(+130%)sel

41、ls refurbished appliances and swap-(+93%)offers spare parts for repairs.162.1K64.1K68.9K73.5K67.6K3.6M1.9M1.8M1.3M1.4M166.1%162.2%129.7%95.7%93.1%1 Ninjakitchen.fr2 T3 Youzd.fr4 Bissell.fr5 swap-166.1%162.2%129.7%95.7%93.1%Fastest-Growing Consumer Electronics Sites 2023-AustraliaAvg.monthlyunique vi

42、sitorsTrafic totalYoY%changeDomainSelling second-hand consumer electronics,CeX()saw its traffic almost double from the previous year.120.3K49.3K30.3K20.0K5.5K2.9M1.1M0.7M1.5M0.6M94.3%64.0%55.5%51.2%41.8%1 2 .au3 4 .au5 .auShaping The Market 2O24|18Fastest-Growing Food&Drink Sites 2023-FranceAcross t

43、he globe,a quiet revolution is taking place when it comes to food consumption.Consumers are embracing services that combat food waste-like Too Good To Go,which is seeing growth across Europe and the US.“Are you going to finish that?”Avg.monthlyunique visitorsTrafic totalYoY%changeDomain160.4K228.8K2

44、.5M4.9M143.1%88.4%1 2 Too Good To Go,MAU&YoY-USAndroid&iOS Combined,20232.0M1.5M1.0M500.0K0.0KJanFabMarAprMayJulAugSepOctNovMonthly active usersYoY%change80%60%40%20%0%Jun70%75%DecOne of the ways the apps popularity has been spreading is via opening up the bab”videos on TikTok and other platforms,wh

45、ich resemble consumer electronics unboxing videos revealing the goodies inside.National expansionShaping The Market 2O24|19Shaping The Market 2O24|1919Shaping The Market 2O24O3AI ASSISTANCEShaping The Market 2O24|20AI continues to become more accessible with Googles release of Bard(recently renamed

46、Gemini)in 2023,leveraging the huge data at their disposal and looking to rival the current market leader ChatGPT.Everyday consumers are getting their hands onpowerful AI toolsMonthly Website Unique Visitors-WorldwideDesktop&Mobile Web,2022-For consumers,these tools open up a world of possibility and

47、 their adoption is not just a fad proved by their increasing popularity.These possibilities range from content writing to replacing what was once the role of the traditional search engine.Some users are conducting whole product research journeys via these services as they allow for review scraping a

48、nd price comparison all in one ecosystem.250.0M200.0M150.0M100.0M50.0M0.0KJanFabMarAprMayJulAugSepOctNovJunDec2O23The#18 most visited web domain“While both ChatGPT and Bard leverage large language models,their strengths diverge significantly.ChatGPT excels in creative content generation,spinning tal

49、es and verses with remarkable fluency.Bard,however,leans towards consumer applications,serving as a digital assistant and knowledge repository.From our initial analysis,the users of these services are in tune with the strengths of both and utilize them accordingly.”Marta Sulkiewicz|VP Global Researc

50、h SolutionShaping The Market 2O24|21OpenAI has announced the launch of its new GPT store allowing individuals to create custom versions of the generative AI.These could range from tools and apps tailored to specific tasks to full-blown digital assistants.Currently,the headline app on the GPT store b

51、elongs to Apples iPhone app of the year-AllTrails.This app allows for personalized trail route recommendations,based on past history,specified hobbies,and interests.These are altered according to location and current preferences.Personalization is at the forefront and the possibilitiesare endlessAI

52、search queries from real users via Similarweb Research Panel“Give me 10 popular wedding detail product on etsy(with product link)“I am looking for a christmas gift for my mum who is around 55 years old.What would you recommend?”France,Bard,December 2023India,Bard,December 2023“I need to decide which

53、 solar panel to buy”Australia,Bing,December 2023Consumers are conducting entire product research journeys within AIShaping The Market 2O24|22Consumers ask:“Give me the top 10 anti-aging products in the US.”Bard answers:Curology RichMoisturizerCeraVe Skin RenewingRetinol SerumTruSkin Vitamin CFacial

54、SerumPaulas Choice 1%Retinol BoosterRevision SkincareRevox 7Tracie MartynFirming SerumLOreal Paris Revitalift 12%Pure Vitamin C,E,Salicylic SerumBeauty Pie Super Retinol Anti-Aging Hand CreamEltaMD SPF 46SunscreenShani Darden Skin CareRetinol ReformShaping The Market 2O24|23“Suggest language learnin

55、g services both cheap and good for practicing speaking”Bard,Poland“Which is cheaper,qled or crystal 4k”Bard,UKAI assists price-sensitive shoppers in their search for the best value across multiple industries“Best business class deals”Bing,US“Top 10 trendy anti-aging devices”Bard,Poland“Find me a lab

56、grown ring that I can get the most bang for my buck.”“Where to buy variety of men clothes for cheap”Bard,USBing,AustraliaAI search queries from real users via Similarweb Research PanelTravelBeautyLearningElectronicsJewelryFashionShaping The Market 2O24|24Shaping The Market 2O24|2424Shaping The Marke

57、t 2O24Turn insights into action:shape your 2024 retail strategy now.In 2024s dynamic ecommerce landscape,traditional definitions of value have undergone a significant transformation.While consumers are still looking for the best deal,theyre also looking for ways to optimize their spending and make t

58、heir money work the best for them.At the heart of this shift lies the paramount importance of convenience.Personalized subscriptions have emerged as a cornerstone of modern consumerism,offering tailored solutions that save customers time and cater to their preferences and needs.Convenience underscor

59、es a broader societal demand for seamless,hassle-free experiences.But convenience isnt everything.Were in the middle of the green revolution,during which consumers are increasingly mindful of their environmental footprint and impact on the planet.These spending habits extend beyond niche markets and

60、 now impact purchase decisions,such as opting for sustainable fashion,supporting local businesses,and buying refurbished or second-hand goods.Last but not least-the looming presence and ever-growing influence of AI.Were just now seeing the beginning of AIs impact on the ecommerce industry,as consume

61、rs use these tools for smarter research,purchase decisions,and overall buying journeys.With AI,ecommerce companies have an unprecedented opportunity to enhance customer experience and drive engagement,from product recommendations and real-time chatbot assistance.In an ever-changing landscape,identif

62、ying the latest consumer trends as they unfold is imperative.By keeping a pulse on shifting preferences and behaviors,you can identify emerging opportunities,anticipate market demands,and tailor your offerings to meet evolving consumer needs.Not only that,but by embracing the trends most important t

63、o consumers,youll cultivate deeper connections with your audience,fostering loyalty and powering growth.Theres an opportunity to deliver exceptional value to consumers in 2024:Convenience at the best priceA product or service that removes pain points for the consumer and works for themConvenience at

64、 the best priceA product or service that removes pain points for the consumer and works for themConvenience at the best priceA product or service that removes pain points for the consumer and works for themSustainability at its heartA product or service that champions responsible choices,empowering

65、consumers to make a positive impactAI to the consumers benefitA product or service that harnesses AI for positive impact,making things easier and more efficient for customersConvenience at the best priceA product or service that removes pain points for the consumer and works for themRecipe for succe

66、ss in 2024Consumers are seeking products that do it all delivering amazing value,endless possibilities,and a conscience they can feel good about.Win their hearts by mastering this combination.Shaping The Market 2O24|25Shaping The Market 2O24|2525Shaping The Market 2O24METHODOLOGYO1 Survey of US resp

67、ondentsSimilarweb conducted a survey in November 2023 of 2,499 US respondents asking them various questions around their spending habits.Some data around spending in relation to more eco-friendly behaviors is included within this report.O2 Generative AI promptsSimilarweb has access to a panel of con

68、sumers for which we have permission to track their behaviors and as part of this are able to look at and analyse their AI prompts to services like ChatGPT,Gemini(formerly Bard)and Bing chat.Some prompts associated with users purchase journeys have been included used within this report.O3 Website and

69、 app metricsSimilarweb collects data on website and app usage,ranging from visits to search volume to active app users.The data is collected using digital signals from four sources which are then blended together to give the whole picture:Direct Measurement,Contributory Network,Partnerships,Public D

70、ata.These metrics are presented in these report with the various websites and apps categorised into appropriate industries to look at larger market trends.While the report paints a vibrant picture of evolving consumer trends in 2024,navigating and capitalizing on them can be daunting.This is where S

71、imilarweb enters the equation.With our powerful digital intelligence tools,businesses can gain actionable insights into real-time consumer behavior,competitor strategies,and market shifts,equipping them to stay ahead of the curve and thrive in this dynamic landscape.Shaping The Market 2O24|26Shaping

72、 The Market 2O24|2626Shaping The Market 2O24Behavioral Consumer and Market IntelligenceOnline Behavioral Data,Pre and Post PurchaseTranslating millions of digital behavioral touchpoints into meaningful insights across the customer journey,from Google and social media to marketplaces,so you can be on

73、 top of the changing consumer.Full View of the MarketCapturing the entire digital landscape,from desktop to mobile web and apps,across 200+industries and 190+countries,so you can compare apples to apples in your reporting.Granular Actionable InsightsFrom markets to websites,keywords and product page

74、s-our ability to zoom in and out of the digital world allows us to be more precise,uncovering unique,hidden insights,so you can determine your next move.Collecting 10B digital signals,analyzing 2TB of data,and generating over 10K traffic reports daily,to measure and map the digital world so you can

75、capture consumer demand in real time.Updates in Near Real-TimeShaping The Market 2O24|27Shaping The Market 2O24|2727Shaping The Market 2O24HOW CAN SIMILARWEB HELP YOU COMPETE IN A WORLD FULL OF DISRUPTION?Benchmark your digital performance against your competitors on all channelsUnderstand overall m

76、arket dynamics to prioritise the right regionTrack digital signals to uncover and capitalize newest customer trendsShaping The Market 2O24|28Shaping The Market 2O24|2828Shaping The Market 2O24ABOUT SIMILARWEBSimilarweb is a market and audience intelligence company that powers the worlds businesses w

77、ith the most accurate digital data.Our market research division identifies trends,tracks market changes,and analyzes online behavior to create meaningful commentary on the digital economy and provide actionable recommendations.Similarweb is a market and audience intelligence company that powers the

78、worlds businesses with the most accurate digital data.Our market research division identifies trends,tracks market changes,and analyzes online behavior to create meaningful commentary on the digital economy and provide actionable recommendations.Similarweb delivers ready-made and custom data via dif

79、ferent solutions and services.To get more data-driven insights,visit:SThe Similarweb blogOur news-oriented Insights blogSimilarweb on LinkedInSimilarweb on YouTubeWere trusted by the best and brightest digital brands:ConsumerElectronicsFood&BeveragesFashion&ApparelRetailBeauty&Personal CareShaping T

80、he Market 2O24|29Shaping The Market 2O24|2929Shaping The Market 2O24Lead Authors,Research&InsightsInes Durand|Senior Insights ManagerDaniel Reid|Senior Insights AnalystMolly Winik|Senior Content Marketing ManagerStrategyMarta Sulkiewicz|VP Global Research SolutionYaara Zajicek|Team Lead,Global MarketingDesign&Data VisualizationShirley Ohava|Brand D