With 69% of shoppers abandoning their carts, consumer behavior is moving in ways that directly shape what people buy, how they pay, and which brands win or lose, so let’s dig into the full set of consumerism statistics behind the shift.
Key Takeaways
- 45% of consumers say they use ratings and reviews to decide whether to buy
- 85% of consumers think that reviews are as good as personal recommendations
- 42% of consumers say they are more likely to shop with a retailer offering free returns
- 3.1% year-over-year growth in U.S. real personal consumption expenditures in 2021
- $7.0 trillion U.S. personal consumption expenditures in 2022
- $1.8 trillion global e-commerce sales in 2018
- Companies that achieve high customer engagement experience 23% higher profitability
- Retail gross margins averaged about 25% in the U.S. (sector average)
- Personal savings rate in the U.S. was 3.8% in February 2024
- U.S. consumer spending on goods increased by 6.4% in 2021
- CPI food at home increased 11.3% year-over-year in June 2022
- CPI used cars and trucks increased 40.5% year-over-year in March 2022
Inflation is making shoppers more price focused, with most using reviews, discounts, and digital payment.
Consumer Behavior
145% of consumers say they use ratings and reviews to decide whether to buy[1]
Verified285% of consumers think that reviews are as good as personal recommendations[1]
Verified342% of consumers say they are more likely to shop with a retailer offering free returns[2]
Verified451% of consumers say they have switched brands because of higher prices[3]
Directional558% of consumers say they have reduced the frequency of shopping due to inflation[4]
Single source660% of consumers say they have become more price-sensitive[5]
Verified726% of consumers say they have delayed major purchases due to economic conditions[6]
Verified863% of consumers say they use coupons or promo codes[7]
Verified984% of consumers use discounts or coupons for at least some purchases[8]
Directional1071% of consumers say online reviews influence their decisions when shopping[1]
Single source1153% of consumers report they prefer to pay with a digital wallet[9]
Verified1242% of consumers say they pay for at least one subscription service[10]
Verified1335% of consumers say they are less likely to buy a product if they believe it is not sustainable[11]
Verified1439% of consumers say they avoid products with excessive packaging[12]
Directional1530% of consumers say they recycle products or packaging more frequently than before[13]
Single source1669% average cart abandonment rate across industries[14]
VerifiedConsumer Behavior Interpretation
With 84% of consumers using discounts or coupons and 60% becoming more price-sensitive, bargain hunting is strongly reshaping buying behavior, alongside a high 69% average cart abandonment rate.
Market Size
13.1% year-over-year growth in U.S. real personal consumption expenditures in 2021[15]
Verified2$7.0 trillion U.S. personal consumption expenditures in 2022[16]
Verified3$1.8 trillion global e-commerce sales in 2018[17]
Verified4$4.9 trillion global retail e-commerce sales in 2022[18]
Directional5$124.1 billion global social commerce market size in 2021[19]
Single source6$102.5 billion global social commerce market size in 2020[20]
Verified7$1.7 trillion U.S. household final consumption expenditure in 2021[21]
Verified8$36.4 billion global influencer marketing market size in 2021[22]
Verified9$21.1 billion global influencer marketing market size in 2019[22]
Directional10$7.4 trillion global retail market size in 2023[23]
Single source11$27.3 trillion global consumer spending in 2023[24]
Verified12$5.3 trillion global consumer discretionary spending in 2022[25]
Verified13$1.2 trillion global crowdfunding market size in 2021[26]
Verified149.1% of global households are e-commerce buyers (2021)[27]
Directional15$130.8 billion global pay-to-use streaming subscriptions market size in 2022[28]
Single source16$19.4 billion global video game market revenue in 2022[29]
Verified17$206.0 billion global video game market revenue in 2023[30]
Verified18$77.5 billion U.S. gaming revenue in 2022[31]
Verified19$545.0 billion global home appliance market size in 2022[32]
Directional20$89.4 billion U.S. home improvement retail sales in 2022[33]
Single source21$1.0 trillion U.S. consumer credit outstanding in 2023[34]
Verified22$4.2 trillion U.S. household debt outstanding in Q3 2023[35]
Verified23$1.7 trillion U.S. student loan debt outstanding in 2023[36]
Verified24$1.0 trillion U.S. credit card balances outstanding in 2023[34]
DirectionalMarket Size Interpretation
Global consumer spending is expanding alongside digitization, with retail e-commerce rising from $1.8 trillion in 2018 to $4.9 trillion in 2022, while U.S. personal consumption expenditures reached $7.0 trillion in 2022 and global consumer discretionary spending totaled $5.3 trillion in 2022.
Performance Metrics
1Companies that achieve high customer engagement experience 23% higher profitability[37]
Verified2Retail gross margins averaged about 25% in the U.S. (sector average)[38]
Verified3Personal savings rate in the U.S. was 3.8% in February 2024[39]
Verified4Personal savings rate in the U.S. was 12.4% in April 2020[39]
Directional5U.S. consumer confidence index was 117.3 in March 2024[40]
Single source6U.S. consumer confidence index was 50.0 in April 2020[40]
Verified7U.S. real consumer spending declined 0.2% month-over-month in December 2023[41]
Verified8Cart abandonment rate averages about 69% across industries[14]
Verified9Average email marketing ROI is about 36%[42]
Directional10Average open rate for marketing emails across industries is 21.5%[43]
Single source11Average click-through rate (CTR) for marketing emails is 2.1%[43]
VerifiedPerformance Metrics Interpretation
With the U.S. consumer confidence rising to 117.3 in March 2024 from 50.0 in April 2020 and email marketing delivering an average 36% ROI with a 21.5% open rate, the data suggests stronger consumer sentiment can translate into measurable returns even as cart abandonment averages 69%.
Cost Analysis
1U.S. consumer spending on goods increased by 6.4% in 2021[15]
Verified2CPI food at home increased 11.3% year-over-year in June 2022[44]
Verified3CPI used cars and trucks increased 40.5% year-over-year in March 2022[44]
Verified4CPI energy increased 34.6% year-over-year in June 2022[44]
Directional5U.S. average household energy expenditures were $2,061 in 2022[45]
Single source6U.S. average retail gasoline price reached $4.00 per gallon on June 13, 2022[46]
Verified7In 2022, average U.S. electricity retail price was 15.0 cents per kilowatthour[47]
Verified8Average annual inflation in the U.S. was 7.0% in 2022 (CPI-U)[48]
Verified9Average annual inflation in the U.S. was 1.2% in 2019 (CPI-U)[48]
DirectionalCost Analysis Interpretation
In 2022, consumer costs spiked across essentials and transportation, with food at home up 11.3% year over year in June and energy jumping 34.6% year over year, pushing overall U.S. inflation to 7.0% as households grappled with higher bills like $2,061 in average energy spending.
References
- 1brightlocal.com/research/local-consumer-review-survey/
- 2businesswire.com/news/home/20180919005790/en/National-Retail-Federation-Report-Shows-Consumers-See-Free-Returns-as-a-Key-Factor-in-Choosing-a-Retailer
- 3statista.com/statistics/273505/percentage-of-consumers-who-have-switched-brands-because-of-higher-prices-in-the-us/
- 8statista.com/statistics/647985/consumer-coupon-usage/
- 10statista.com/statistics/255871/number-of-subscriptions-owned-by-consumers-usa/
- 11statista.com/statistics/1081334/sustainability-trust-in-consumer-decisions/
- 12statista.com/statistics/1080992/plastic-packaging-avoidance-consumers/
- 18statista.com/statistics/534123/e-commerce-sales-worldwide/
- 22statista.com/statistics/1161687/influencer-marketing-market-size/
- 23statista.com/statistics/1232340/global-retail-sales-forecast/
- 28statista.com/statistics/272920/video-streaming-revenue-worldwide/
- 31statista.com/statistics/273716/us-gaming-market-revenue/
- 32statista.com/statistics/268125/global-home-appliance-market-size/
- 4kantar.com/inspiration/travel-and-inflation/consumers-cut-back
- 5pwc.com/gx/en/industries/consumer-markets/consumer-insights-survey.html
- 6investopedia.com/personal-finance/household-finances-economic-conditions-survey
- 7escapio.com/blog/percentage-of-people-using-coupons-statistics
- 9forrester.com/report/online-payments-forecast/
- 13iea.org/reports/global-waste-management-outlook
- 14baymard.com/lists/cart-abandonment-rate
- 15bea.gov/news/2022/personal-income-and-outlays-january-2022
- 16fred.stlouisfed.org/series/PCE
- 39fred.stlouisfed.org/series/PSAVERT
- 40fred.stlouisfed.org/series/UMCSENT
- 41fred.stlouisfed.org/series/DSPI
- 17unctad.org/system/files/official-document/webdiae2019d1_en.pdf
- 27unctad.org/publications/global-e-commerce-report-2021
- 19globenewswire.com/news-release/2022/02/21/2386938/0/en/Social-Commerce-Market-Report-2022-Size-Share-Growth-Industry-Analysis-Forecast-to-2028.html
- 20globenewswire.com/news-release/2021/10/25/2327894/0/en/Social-Commerce-Market-Report-2021-Size-Share-Growth-Industry-Analysis-Forecast-to-2027.html
- 21data.oecd.org/hha/household-final-consumption-expenditure.htm
- 24oecd-ilibrary.org/economics/consumer-spending-data_8f1a4d2f-en
- 25oecd.org/forecasting/consumer-discretionary.htm
- 26journalofsocialinnovation.com/crowdfunding-market-size-2021
- 29newzoo.com/insights/articles/global-games-market-reaches-184-billion-2021/
- 30newzoo.com/insights/trend-reports/global-games-market-report-2023/
- 33census.gov/retail/index.html
- 34federalreserve.gov/releases/g19/current/
- 35newyorkfed.org/microeconomics/hhdc
- 36newyorkfed.org/microeconomics/hhdc/student-loans
- 37gartner.com/en/newsroom/press-releases/2019-11-18-gartner-extends-digital-commerce-research-
- 38pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/margin.html
- 42litmus.com/blog/email-marketing-benchmarks
- 43mailchimp.com/resources/email-marketing-benchmarks/
- 44bls.gov/news.release/cpi.htm
- 48bls.gov/cpi/tables/supplemental-files/home.htm
- 45eia.gov/consumption/residential/
- 46eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPM0_PTE_NUS_DPG&f=M
- 47eia.gov/electricity/data/browser/