12 Consumerism Trends That Will Impact You in 2024

TLDRIn 2024, consumerism will be shaped by trends such as the expansion of subscription-based models, the increase of under $15 price models, the rise of annual subscription pricing, and the prevalence of sneaky free trial subscriptions. Additionally, consumers will be influenced by charismatic CEO personality cults, tip-flation, a focus on aesthetics, the decline of cash, increased exposure to advertising, greenwashing, and the rise of the experience economy.

Key insights

💸The expansion of subscription-based models will lead to a decline in ownership and an increase in monthly payments.

💰Under $15 price models will entice consumers to subscribe to multiple services, leading to increased spending.

🔒Annual subscription pricing models may result in customers paying for services they rarely use throughout the year.

🎁Sneaky free trial subscriptions can trap customers into paying for a service they forgot to cancel.

👔Consumers are increasingly influenced by the charismatic personalities of CEOs when making purchasing decisions.

Q&A

What impact will the expansion of subscription-based models have?

—The expansion of subscription-based models will lead to a decline in ownership and an increase in monthly payments.

How do under $15 price models affect consumer spending?

—Under $15 price models will entice consumers to subscribe to multiple services, leading to increased spending.

What are the potential drawbacks of annual subscription pricing models?

—Annual subscription pricing models may result in customers paying for services they rarely use throughout the year.

What risks do sneaky free trial subscriptions pose to consumers?

—Sneaky free trial subscriptions can trap customers into paying for a service they forgot to cancel.

How does the personality cult of CEOs influence consumer behavior?

—Consumers are increasingly influenced by the charismatic personalities of CEOs when making purchasing decisions.

Timestamped Summary

00:00In 2023, consumerism was reshaped by trends like the expansion of subscription-based models and the rise of artificial intelligence.

02:02Under $15 price models have become popular, with consumers subscribing to various services, resulting in increased spending.

03:12Annual subscription pricing models have gained traction, but customers may end up paying for services they don't frequently use.

03:57Sneaky free trial subscriptions can lead to customers unknowingly getting charged for a service they forgot to cancel.

05:20Consumers are increasingly drawn to products associated with charismatic CEOs, influencing their purchasing decisions.

Browse more