New research by creator-driven marketing platform LTK reveals major trends in consumer behavior for the 2024 holiday shopping season.
The LTK Holiday Shopper Study, conducted in June 2024 with 1,125 participants, highlights the growing influence of creators on purchasing decisions, especially among younger generations.
Creator Recommendations
According to the report, 73% of Gen Z consumers purchase based on creator recommendations, compared to 66% of Millennials and 59% of the general population. The study indicates that LTK shoppers, particularly, are highly responsive to creator influence.
Source: LTK
97% report making purchases recommended by creators, a 64% higher rate than the general population and a 6% year-over-year growth.
Buying Power
In terms of buying power, LTK shoppers show a 38% net positive increase for the 2024 holiday season, contrasting with an 8% net negative for the general population.
The research also reveals shifts in consumer priorities. LTK shoppers rank availability, brand, and quality as more important than price when making holiday purchases. This contrasts with the general population, prioritizing price, quality, and availability in that order.
The study identifies key categories for holiday gifting and self-purchases.
For Gen Z, the top gifting categories include beauty/personal care, entertainment, and fashion, with sports equipment and clothing showing a significant 95% increase in intent. For self-purchases, Gen Z prioritizes beauty/personal care, entertainment, and fashion.
Platform Preferences
Regarding social media influence, Instagram, Facebook, and YouTube are the top platforms for holiday shopping among Millennials and Gen Z.
Credit: LTK
YouTube shows the quickest growth in usage for Gen Z. At the same time, Pinterest demonstrates the highest growth for Millennials following creators.
Holiday Campaign Timing
The report also highlights the importance of creator-driven content in shaping consumer behavior.
Cooking and baking emerge as the top holiday behaviors influenced by creators, followed by gift shopping and beauty routines.
LTK’s study suggests that brands should start their holiday marketing efforts early, focusing on gifting and key consumer moments.
Credit: LTK
Early shopping continues to be a trend, with 70% of LTK shoppers planning to start their holiday shopping by September, an 18% year-over-year increase. However, Gen Z shoppers tend to start later, with 50% planning to begin shopping in early November or later.
The platform recommends an “always-on” strategy, targeting multiple audiences to capture last-minute shopping for gifting and holiday preparations.
The research indicates that brands that increased their holiday strategy and spending on the LTK platform in 2023 experienced higher growth.
Nii A. Ahene is the founder and managing director of Net Influencer, a website dedicated to offering insights into the influencer marketing industry. Together with its newsletter, Influencer Weekly, Net Influencer provides news, commentary, and analysis of the events shaping the creator and influencer marketing space. Through interviews with startups, influencers, brands, and platforms, Nii and his team explore how influencer marketing is being effectively used to benefit businesses and personal brands alike.
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New research by creator-driven marketing platform LTK reveals major trends in consumer behavior for the 2024 holiday shopping season.
The LTK Holiday Shopper Study, conducted in June 2024 with 1,125 participants, highlights the growing influence of creators on purchasing decisions, especially among younger generations.
Creator Recommendations
According to the report, 73% of Gen Z consumers purchase based on creator recommendations, compared to 66% of Millennials and 59% of the general population. The study indicates that LTK shoppers, particularly, are highly responsive to creator influence.
Source: LTK
97% report making purchases recommended by creators, a 64% higher rate than the general population and a 6% year-over-year growth.
Buying Power
In terms of buying power, LTK shoppers show a 38% net positive increase for the 2024 holiday season, contrasting with an 8% net negative for the general population.
The research also reveals shifts in consumer priorities. LTK shoppers rank availability, brand, and quality as more important than price when making holiday purchases. This contrasts with the general population, prioritizing price, quality, and availability in that order.
The study identifies key categories for holiday gifting and self-purchases.
For Gen Z, the top gifting categories include beauty/personal care, entertainment, and fashion, with sports equipment and clothing showing a significant 95% increase in intent. For self-purchases, Gen Z prioritizes beauty/personal care, entertainment, and fashion.
Platform Preferences
Regarding social media influence, Instagram, Facebook, and YouTube are the top platforms for holiday shopping among Millennials and Gen Z.
Credit: LTK
YouTube shows the quickest growth in usage for Gen Z. At the same time, Pinterest demonstrates the highest growth for Millennials following creators.
Holiday Campaign Timing
The report also highlights the importance of creator-driven content in shaping consumer behavior.
Cooking and baking emerge as the top holiday behaviors influenced by creators, followed by gift shopping and beauty routines.
LTK’s study suggests that brands should start their holiday marketing efforts early, focusing on gifting and key consumer moments.
Credit: LTK
Early shopping continues to be a trend, with 70% of LTK shoppers planning to start their holiday shopping by September, an 18% year-over-year increase. However, Gen Z shoppers tend to start later, with 50% planning to begin shopping in early November or later.
The platform recommends an “always-on” strategy, targeting multiple audiences to capture last-minute shopping for gifting and holiday preparations.
The research indicates that brands that increased their holiday strategy and spending on the LTK platform in 2023 experienced higher growth.
Find the full study here.