Looking ahead: 2024 peak season predictions

Ecommerce is set to have another strong year in 2024, but meeting consumer demands won’t be any easier. Rising prices and global pressures have created a more cautious, discerning consumer. While they are still buying online, their expectations will be much higher. Retailers and brands should expect consumers who are more thoughtful and intentional about where and how they spend.
Mintel’s 2024 Global Consumer Trends reports that consumers are redefining value and what indicates quality in a product or service. The report found that as “budget pressures force tighter trade-offs, consumers are becoming more realistic in their search for value as they strike a balance between quality received and cost incurred.”