U.S. buyer consumption trends in the first quarter of 2022

Recently, the technology company junglescout conducted a survey on the consumption habits of 1,000 American consumers in the first quarter of 2022.

The results of the study show that 38% of consumers reduced their overall spending in the first quarter. The reduction in consumer spending was mainly affected by inflation and personal savings. 70% of consumers said that inflation reduced their impulse buying behavior, and they saved money mainly to prepare for new homes and vacation expenses.

In addition, price and coupons are also an important factor affecting the purchasing motivation of American consumers . 53% of consumers said that they would have an impulse to buy when they get discounts, coupons or discount codes, and nearly half of the respondents said that they would only buy discounted products.

Brand loyalty also affects consumers’ purchases, with one in five respondents looking for a specific brand. It can be seen that increasing consumers’ brand loyalty is a very important part for sellers.

The study also found that in terms of consumer categories , the "home economy" is still favored by buyers . More than half of people said they would spend more time at home in 2022, and their willingness to buy a house has also increased. As consumers spend more time at home, their interest in house decoration and renovation will naturally increase.

Among the male consumers who participated in the survey, 30% of "homebodies" said they would buy home decoration and furniture, 28% would buy hardware products, and 24% would buy small kitchen appliances and bedding.

In terms of purchasing platforms, consumers still mainly choose large e-commerce platforms such as Amazon, Walmart, and eBay . Among them, Amazon still ranks first with a share of 65%, and Walmart ranks second with 34%. eBay, Target, and Etsy also rank high .

According to statistics from relevant agencies, in 2021, American consumers spent US$870.78 billion online, a year-on-year increase of 14.2%. In 2020, this figure was US$762.68 billion.

Although affected by the epidemic and inflation, local consumers' monthly online spending is about twice that before the epidemic. The huge market and consumption power have also intensified the competition in this market.

First Quarter

2022

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