Afterpay Reveals the Top Industry and Consumer Trends for Spring Summer 2024
Afterpay unveils its bi-annual trend report, providing a comprehensive overview of the industry and consumer trends across fashion, beauty, home and travel sectors. Leveraging Afterpay’s first-party purchasing data, the report offers macro insights shaped by the buying behaviors of Millennials and Gen Z.
Industry Insights
Younger consumers continue to demonstrate a growing preference for alternative payment methods, enabling greater control over their finances while avoiding high-interest credit card debt. Notably, Afterpay’s usage among Gen Z and Millennials saw a significant 22% year-over-year increase.
Consumer Trends
Maximalist Moves
The spring runways took inspiration from two boom-time eras, and consumers are here for it. The opulence of the ‘20s is back with a modern twist and Afterpay is seeing sales of long pearls up a staggering 365% YoY and sales of beaded dresses increasing by 47% YoY. A resurgence in loud, oversize styles harkens to the boldness of the ‘80s as seen in a prevalence of big shoulder purchases up 122% YoY and oversized sunglasses up 54% YoY.
The Coquette Look
Americans are buying into the ultra-feminine coquette makeup trend everywhere, from TikTok to the red carpet. It’s all about achieving a soft romantic look through pinks and pearly shine, so it’s no surprise that Afterpay recorded sales of pink eyeshadows increased 103% YoY and sales of white eyeliners climbed 155% YoY.
All About the Curves
Shoppers are increasingly choosing softer shapes and curved lines for their home decor. Curved sofas have seen a 207% increase in purchases year over year, while curved tables are also on the rise with a 90% increase. This trend suggests a preference for more organic and inviting aesthetics, creating spaces that feel cozy and visually appealing.
Travel Bug for One
An uptick in solo travel has Americans heading out of town to visit their version of the White Lotus, with 34x more hotel and accommodation purchases than last year. Consumers are ready to explore by hitting the roads and the friendly skies!
Unsplash
For all of the latest lifestyle insights revealed by Afterpay’s Spring/Summer 2024 Trend Report, read the full report here.