Global Consumer Trends in 2023: The rise of artificial intelligence, short video and sports content!
With the rapid progress of technology, artificial intelligence technology has become one of the most concerned topics for consumers in 2023. The rise of this trend stems not only from consumers’ curiosity and desire to explore advanced technology, but also from potential concerns about future technology. According to the data, in the second quarter of 2023, the proportion of American consumers interested in and worried about artificial intelligence technology was 21% and 22%, respectively, which showed contradictory emotions, but also to a certain extent reflects the complex attitude of consumers towards this technology.
At the same time, social media platforms also play an important role in consumer trends. While Facebook remains one of the most popular social media platforms for overseas consumers, video-based social media platforms such as TikTok and Pinterest are seeing rapid growth in user numbers. TikTok, in particular, has seen a significant increase in the number of users, up by 57%, which not only demonstrates the popularity of short video platforms, but also reveals the growing interest of consumers in such platforms.
In addition, consumers’ focus on entertainment content and brand engagement is increasing. From 2020 to 2023, trust in social media bloggers among baby boomer consumers increased by 13%, indicating that consumers are increasingly willing to trust and accept recommendations and information from these platforms.
In terms of consumption behavior, compared with new age consumers, baby boomer consumers shop online more frequently per week, and owning credit cards gives them higher purchasing power. Some consumers say they have enough savings to cover basic living expenses for the next six months or more. This spending power and willingness to spend provide brands with more opportunities and challenges.
It is worth noting that sports content has also received more and more attention on social media platforms. The number of social media users in the United States has increased by a whopping 19% year over year, which has raised concerns about the sales of sports-related extended categories. Brands can take this opportunity to increase their association with sports content and increase brand awareness and influence through sponsorship or partnerships.
In summary, the global consumption trend in 2023 shows a diversified development trend. The rapid development of artificial intelligence technology has made consumers both curious and worried; The rise of short video platforms allows brands and consumers to find new ways to communicate; The increased focus on sports content provides more marketing opportunities for brands. In the face of these trends, brands need to be flexible, focusing not only on technological advances, but also on emotional connection with consumers, while also being keen to grasp the new dynamics of the market to meet the changing needs and expectations of consumers.