Consumer Trends Report | Q4 2022
This quarterly study of 1,000 U.S. consumers explores spending and ecommerce trends for the 2022 holiday shopping season, with insight into the ways inflation and social media are impacting shoppers now and as they look ahead to 2023.
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Move over, TV ads! In 2022, nearly 20% of U.S. consumers get holiday gift ideas from social media. Gen Z and Millennial shoppers are more than twice as likely as Gen X and Baby Boomers to buy social media-inspired gifts.
More than 93% of consumers are noticing higher prices in their everyday shopping. As record inflation persists, the majority of American shoppers have adjusted their spending and a third of those are cutting back on holiday expenses.
Consumers are more focused on financial security ahead of 2023. While family, physical and mental health remain top priorities for consumers, their career and finances have increased in relative importance this year.
Throughout 2022, our quarterly Consumer Trends Reports have explored the growing impact of social media on the ways Americans shop and what they’re buying. In Q4, we examine the ways social media — and which channels — are influencing holiday shoppers.
Gen Z, Millennial, Gen X and Boomer percentages represent the portion of respondents from each generation that comprise the 19% of consumers deriving gift ideas from social media.
Among consumers who use TikTok, 77% said people on their gift list asked for products they learned about from the app. Facebook has the largest share of influence on consumers’ holiday gift shopping generally, but TikTok’s share is close behind and is especially influential among Gen Z consumers. For more TikTok-specific holiday shopping data, read our full report.
The majority of consumers (77%) said their overall spending decreased or stayed flat in the fourth quarter of 2022 ahead of the holiday shopping season. Nearly 60% of consumers notice higher product prices in their everyday shopping (in essential categories such as groceries, cleaning supplies, and clothing in particular) and 83% say they’ve adjusted their spending due to inflation.
69% of consumers are worried about their family’s finances. Among the reasons for concern, inflation is the top issue, followed by gasoline prices, housing costs, and rising interest rates.
As 2022 draws to a close, more consumers are focused on their finances and careers when looking ahead to the new year. In ranking 14 common priorities by order of importance, consumers gave these two more weight compared to a year ago; career moved up three spots to #9 from #12, while finances rose to the #4 spot from #6.
77% of consumers will re-evaluate their spending in 2023 (up 8% from a year ago).
45% of consumers plan to make a career change in 2023 (up 9% from a year ago).
In this report, you’ll find:
Jungle Scout conducted an anonymous survey on Oct. 14, 2022, among more than 1,000 U.S. consumers about their buying preferences and behaviors. Respondents represented 49 U.S. states, all genders and ages 18 to 75+, as well as varying employment types and income levels.
Respondents were asked questions about their behaviors and spending for the fourth quarter (October, November, December) of 2022. Some of the analysis in the report compares responses from this survey to previous consumer trends surveys conducted by Jungle Scout, where data has been collected on a quarterly basis since June 2020.
We invite you to explore Jungle Scout’s Q4 2022 Consumer Trends Report and to share, reference, and publish the findings with attribution to “Jungle Scout” and a link to this page.
For more information, specific data requests or media assets, or to reach the report’s authors, please contact us at [email protected].
Jungle Scout is the leading all-in-one platform for ecommerce sellers, supporting more than $50 billion in annual Amazon revenue. Founded in 2015 as the first Amazon product research tool, Jungle Scout today features a full suite of best-in-class business management solutions and powerful market intelligence resources to help entrepreneurs and brands manage their ecommerce businesses. Jungle Scout is headquartered in Austin, Texas, and supports 10 global Amazon marketplaces.
