DALLAS--(BUSINESS WIRE)--LTK, the platform that powers Creator Commerce™ unveiled its 2024 Holiday Shopper Study, showcasing the latest consumer trends ahead of the busiest shopping season of the year. LTK pioneered creator commerce that has reshaped the retail industry with consumers shifting their shopping habits to creators and purchasing more than $4B through LTK Creators.
An overwhelming majority of shoppers make purchases from creators now - 75% of Gen Z, 64% of Millennials and 58% of the general population. The new LTK Holiday Shopper Study highlights the striking differences between the behaviors, trends and preferences of consumers that shop from creators as we approach the peak shopping season by taking a look at insights from shoppers on the LTK platform.
Increased Buying Power
Shoppers that purchase from creators are set to make a significant impact this holiday season with their buying power up an impressive 38% YoY, while the buying power of the general population decreased 8% from last year.
The study reveals four major categories that creator shoppers plan to buy more or the same this year than the general population. When it comes to entertaining essentials, 75% of consumers that shop creators plan to buy more or the same compared to just 53% of the general population. As for home goods and decor, 79% of LTK shoppers plan to buy more or the same - a 39% increase over the general population. Plans to purchase entertaining essentials and home products align to cooking and recipes being the top watched creator content amongst consumers during the holidays. Creator shopping communities also plan to spend more or the same on gifts and themselves this season.
- Entertaining Essentials: 75% of LTK shoppers vs. 53% of general population
- Gifts: 79% of LTK shoppers vs. 74% of general population
- Home: 79% of LTK shoppers vs. 57% of general population
- Myself: 79% of LTK shoppers vs. 55% of general population
Earlier Holiday Shopping
Creators see their communities shopping even earlier than the general population with 70% of LTK shoppers planning to start their holiday shopping by late September - a notable 18% YoY increase. In comparison, 38% of the general population plans to start shopping by late September while Gen Z shoppers tend to start later, with 50% planning to begin their shopping in early November or later.
Higher Value on Brand Loyalty and Availability
During the holidays, deals are important to most shoppers. This year, the general population continues to prioritize price over brand and quality with more consumers planning to shop during Black Friday & Cyber Monday sales to save money than last year. However, for those that shop from LTK creators, availability and brand rank highest in priority. While price is still important to these shoppers, the availability of products is more important, which indicates the need for retailers to keep items well stocked.
Top Gifts for 2024: Entertainment and Beauty Remain Top of the List
Consumers are planning to shop multiple categories from creator recommendations for the holiday season. This year, entertainment-focused gifts like games, music and books are a top ranked gifting category across the general population, Millennials and Gen Z. Followed by fashion for Millennials, while Gen Z leans towards beauty and personal care products as their number one gifting category. Sports equipment and clothing is also a popular gifting category amongst Gen Z - up 95% this year.
For self-gifting, beauty and personal care ranks as the number one spot across the board.
The reported data is from a survey conducted in June 2024 among 1,125 participants, reflective of the US population with 97% confidence. To learn more about the LTK Holiday Shopper Study, please visit https://company.shopltk.com/ltk-festive-forecast-2024.
About LTK
As the inventor of Creator Commerce, LTK is the trusted platform for creators and their businesses by powering and monetizing the connection between content and commerce. Founded in 2011 by Amber and Baxter Box, the LTK mission is to empower creators to be as economically successful as possible. LTK has over 70 patent assets for its innovative technology solutions that have pioneered an industry. Premium lifestyle creators in 150+ countries drive more than $4.1 billion in annual retail sales through the LTK platform. Today, 40 million monthly consumers turn to LTK Creators in the LTK shopping platform to find inspiration and instantly shop the styles recommended by their favorite creators. More than 8,000 retailers partner with LTK to gain access to its global creator network for content that converts against cross-channel KPIs. LTK is the connection between creators and brands - driving more than 44,000 brand collaborations annually. LTK is headquartered in Dallas, TX and currently operates on five continents. To download the LTK shopping app, search for LTK in the App Store or Google Play.
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