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| Name | 12 Consumerism Trends That Will Impact You In 2024 |
| Video Uploader | Video From Austin Williams |
| Upload Date | This Video Uploaded At 01-12-2023 09:00:45 |
| Video Discription | As 2024 approaches we will see the rise of many new trends that will impact how we spend money. If you would like to support my channel!: https://www.buymeacoffee.com/williamsauQ Mint Mobile (save on your cell phone): https://mint-mobile.58dp.net/rn6rJQ Books I'm Reading The Dawn of Everything: https://amzn.to/3DZiaeI Who Moved My Cheese: https://amzn.to/3E0TNgF Outlier: The Story of Success: https://amzn.to/44gJxvF Chapters 00:00 Start Here 00:37 The Expansion of ‘Subscription-ification’ 01:41 The Increase of Under $15 Price Models 02:57 The Increase of The Annual Subscription Price Models 03:47 The Increase of Sneaky ‘Free Trial’ Non Refundable Subscriptions 05:03 More Charismatic CEO Personality Cults 06:41 The Expansion of Tipflation 08:01 More Focus On Aesthetics 09:09 The Decline of Cash 10:13 Increased Exposure To Advertising 11:10 Nudging Reminders To Spend 11:48 Green Washing 13:05 The Rise of The Experience Economy As 2024 approaches we will see the many new trends and the continuation of existing trends that impact how we spend our money. In this video, I share 12 trends that will impact how you consume in 2024. 1. The Expansion of ‘Subscription-ification’ Society is shifting away from ownership models and more towards subscription models where we pay a month fee to use a product or service. In 2024, we will see this subscription trend continue to expand making ownership a thing of the past. 2. The Increase of Under $15 Prices Models Subscription models work well because they are normally under $15. And this price point is very strategic because once you go above $15, you think about it more. We will continue seeing this $15 pricing model that will silently increase people's cost of living. 3. The Increase of The Annual Subscription Price Models Another trend that has appeared recently is instead of paying a monthly fee, businesses charge yearly. This causes people to subscribe to a service that they overspend on. 4. The Increase of Sneaky ‘Free Trial’ Non Refundable Subscriptions The final pricing model is when companies offer a free trial to use their service and once the trial ends they automatically charge you and don't offer refunds. This model will continue and we will be locked into spending money. 5. More Charismatic CEO Personality Cults In the last 10 years, CEOs like Steve Jobs or Elon Musk have become ambassadors of their brands. People are buying certain products not because they love the product, but because they love the CEO that represents the product. 6. The Expansion of Tipflation Since COVID began, tipping has expanded into many different industries where almost everywhere we are expected to tip. As we enter 2024, this practice will continue to expand and tipping will be expected everywhere. 7. More Focus On Aesthetics Companies have been focusing a lot on creating a beautiful environment for their customers. This trend, however, inflates prices and causes people to spend more. 8. The Decline of Cash Cash transactions have been on the decline and most people use credit cards when they spend money. This causes people to be a bit more careless with their spending. 9. Increased Exposure To Advertising Since the advancements of technology, companies are now able to advertise to us in places that weren't possible before like our kitchen, bedroom, and driving. This increased exposure to advertising is causing people to spend more. 10. Nudging Reminders To Spend Smart technology attempts to nudge people to spend more by reminding us the last time we bought something or a car alerting the driver to get a vehicle serviced. Many people eventually cave into these nudges and spend more money. 11. Green Washing Many consumers are making decisions on what is the most environmentally friendly; however, companies often green wash their products to trick customers. This causes people to spend more money on products for misleading information. 12. The Rise of The Experience Economy Since COVID, people have been focusing more on spend their money on experiences rather than stuff. In 2024, we will see the rise of the experience economy where we spend more money on experience. **Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. ** |
| Category | Howto & Style |
| Tags | Frugal Living | Consumerism | Shopping | Money | Spending | Frugality | 2024 | Trends |
