hey what's up guys today we're going to
take a look at the jungle scout
consumer trends report for the first
quarter of 2021
guys if we are e-commerce sellers we
should keep our finger on the pulse
of the consumer and that's exactly what
this report
aims to do they put it out there for
free i'll put a link to it in the
description
and let's just read through it i'll do
some commentary along the way
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here's a quick description of the study
so this quarterly study
of 1000 us consumers explores changing
behaviors and preferences with the focus
on financial strain in a pandemic
economy
and new e-commerce tech so the key
findings are available here and you can
download the full report again i'll put
a link to it in the description
all right so let's check out the key
insights so this is just in order
financial strain is causing consumers to
reduce
their spending now you know what's funny
i always just real quick i'm gonna
interject some obviously it's why you
come to the channel hopefully for
some commentary but you know this is how
my parents think they think that
like and i'm not like hating on my
parents love my parents right and they
instilled good
uh understanding of financials in me but
like it's like when money's tight
you can do two things right you can do
three i guess make no change
first second you can spend less third
just make more
like make make more is on the table as
an option yet it's almost like it
doesn't even get addressed as an option
in publications like this and in most
people's minds i don't think it's on the
table either yet you guys know
you're here you're watching my channel
what do we do here we talk about how to
make our own money
how to control our own destiny so i
don't know i just i get fired up talking
about it because it's like why isn't
that even acknowledged as an option make
some money you know and it's like
i look at my um month over month youtube
subscribers and it's like they're going
down it's like wait a second
shouldn't they be going up and uh we'll
get to my theory as to why they're going
down instead of up a little bit later in
this
article because i already read it ahead
of time and you'll get to see why i
think people
aren't feeling the need to make more
money and you may already guess where
i'm going to go with that
so more than half of american consumers
56
say they're living paycheck to paycheck
and 48 have experienced unexpected
financial setbacks in the last three
months which is crazy in the last three
months because what could have changed
in the last three months
notice this word right here unexpected
what what what happened that was
unexpected in the last three months that
you couldn't have seen coming from a
year ago
just saying like i'm like you know what
i mean like i don't know maybe i mix in
different circles and i have a different
view of
reality let's say um but like i could
have predicted financial setbacks
coming down the pipeline for a lot of
people given their response to the
you-know-what but
73 say they're say they are becoming
more conscientious
of where they spend their money and 70
are looking for less expensive
products when shopping which again what
percentage of people said
you know what i'm going to spend the
same amount of money and just make more
just saying that is on the table as an
option as we all know
you know tell a friend about my youtube
channel literally i'll teach you how to
make your own money
uh consumers are adopting more tech
forward ways of buying
45 use deal finding browser extensions
or plug-ins when shopping online guys if
you're not doing that you should be
um there are two that i use that
literally like they work automatically
they're just chrome extensions
completely free and they either give
well they do both they give you cash
back and they'll apply coupons at
checkout
i'll put a link to them in the
description one's called honey one's
called rakuten
uh used to be called ebates nearly half
have shopped online for groceries in the
last three months and over
one in three have used restaurant
curbside pickup
you know what i do guys is i had post
mates and
on a website that i run i just had an
affiliate link to postmates
and every time i recommended or i
referred somebody by the way every time
i referred somebody postmates gave them
100
of free delivery credit and then every
time they placed an order i would get 25
25 bucks of free money so it was a
pretty good deal i would get a lot of
postmates for free
over the last like year uh 54 have
purchased
products they first learned about on
social media so again social media
you could say influencing micro
influencing sometimes it's unintentional
sometimes it's intentional if you guys
missed that video where i had somebody
on
about a month ago that was selling the
strawberry milk carton shirt
and it was because this tick tock
influencer with like
millions of subscribers millions of
followers wore it by the way the tick
tock influencer wasn't like
trying to be an influencer he didn't get
any kickback for wearing the shirt he
just wore the shirt next thing you know
that thing went viral
i can put a link to that video right
here in the youtube cards in case you
want to check it out
so amazon dominates e-commerce but
walmart is gaining
consumer loyalty percent of consumers
have an amazon prime membership i think
i heard that
amazon prime memberships are like 200
million households in the united states
now it's absolutely
crazy while 38 are currently walmart
plus members
however another 24 of consumers would
consider getting a walmart plus
membership
talking about walmart i actually before
this was on a call
doing a consulting call with somebody
who is crushing walmart that's like his
specialty him and his team
and he was talking to me about getting
into print on demand and then also like
kind of expanding onto other e-commerce
marketplaces beyond just walmart but i
was like hey tip of the hat to you man
because you found your edge not a lot of
people well
the competition on walmart relative to
the uh demand the consumers
is very favorable to the seller so i
mean well done to him
and he's going to help me get on walmart
because i'm still trying to get on there
ebay target and kohl's remain in the
e-commerce race with at least 10 percent
of consumers purchasing there
in recent months i'm a big ebay guy by
the way and i love going to target in
person and
kohl's probably once a year maybe with
my with my mom
consumer finances in 2021 finances are
tight and causing consumers to reduce
their spending
half of americans have experienced
recent unexpected financial setbacks
top five financial stressors per the
survey number one
having enough emergency savings
so it's not good if emergency savings
have been depleted
number two saving for retirement number
three
reduced or lost income number four
paying utilities number five major
financial purchases such as buying a
home
i don't want this video to go on forever
but you know
understanding finance is something that
should be taught in school it's not
taught in school or it's not taught
very well and it's something that
everybody should study i've dedicated an
incredible amount of time especially
over the last year and a half
um to really understanding finances and
when i say finances i don't mean
personal i mean like on kind of on a
global scale since it's also
interconnected
and you can get some of my thoughts if
you want check out my investing youtube
channel i'll put a link in the
description in case you want to
um i should do more just general finance
stuff i mean
reading this stuff really makes me want
to talk so much more but i'll try to
stay on point
for now so many americans rely on
financial support in fact 23 percent
received a loan
to make ends meet in the fourth quarter
43 of consumers state that they are
extremely or very reliant on a
government stimulus check and that's why
i think
not a lot of people are subscribing to
my channel and there's less people going
online and trying to figure out ways to
make their own money because they don't
they don't feel like they have to you
know they feel like
there's a sense of security like in in
these
checks from the government that's not
how i would want to live but whatever
um and also another quick story but like
there was a you know somebody
told a story just a couple weeks ago
about in las vegas you like
can't get an uber like it's it's
literally like you can't get it even if
you're willing to pay the
2x 3x rate it's just because nobody
wants to drive for uber people are
staying home playing video games and
getting their stimulus checks and it's
again right now that may seem like a
safe bet but i mean
i don't know we'll see what happens
later on how are consumers trying to cut
back spending
70 percent shop for less expensive
products 69 percent
research multiple products before buying
69
make lists in preparation for shopping
okay if you shop online also you there's
less of a need to prep
um because you can price check pretty
easily online again this is why
anybody who joins any of my courses by
the way like the first well not the
first lecture but like the second
lecture that i always include is like
you're running an online business
optimize
your whole situation for success
meaning like your computer should be
like a decent computer
you know multiple monitors helps
increase efficiency
all these things then if you do things
like online shopping well hey
why overpay you can price check by just
open a new tab search
google shopping tab like uh just little
things man like it's just gonna give you
an edge in life and you should always
have an edge in pretty much everything
you do you should be looking for an edge
in anything you're going to spend your
time doing so 60
of consumers can't wait to get back to
shopping at physical stores
of course if vaccinated and real quick
um
you know just want to highly suggest
that you understand your risk factor
for the thing you may get vaccinated
against
per your age per comorbidities per
anything else that's all i'm going to
say
understand your risk factor 99.99999
percent of people don't know their own
risk factor
there was a study published in new york
times recently illustrating
just how far off people actually are in
their understanding of their risk factor
and whatever you think it is it's 10
times worse in their
understanding of what the risk factor
actually is if you don't know your risk
factor it's okay you're in the 99.99
nine percent please go look it up though
all the data's out there
the majority of consumers would be
interested in returning to daily outings
67 percent would run errands 63 would
get together with family and friends 63
would enjoy outdoor activities 57 would
shop for non-essentials
53 would go to hair or nail salon or spa
i'm not gonna lie like me and marielle
never stopped going to uh we love
getting massages there's a great place
near where we live
and like guys when was last time you
went and like got your body just kind of
got the kinks worked out of your body
because i tell you what it's one of
those things that makes life worth
living it's
amazing and you can kind of just no
matter how crazy life is
you can reset and almost like leave your
body you can leave this world for
a period of time and just kind of i
don't know zone out or look inwards or
whatever you want to call it just
meditate it's really nice
so i recommend getting out there
spending trends consumer spending is
precarious
in 2021 after having continuously
dropped throughout 2020
a year inescapably marked by the
worldwide response to i'm going to edit
that in response to the
c19 pandemic 43
of americans reduced their spending from
october through december
after already reducing it in q2 and q3
of 2020.
consumer spending in q4 as you can see
here the legend orange says spending has
decreased that was about 43
white says spending has stayed the same
31 percent
and the remaining 26 percent say
spending has increased
how often do consumers shop online so
19 of people said once a day or more 39
said weekly 34 said monthly and 8
percent said
have never shopped online recently slash
ever and i always wondered what that
percentage really is
uh you know especially prior to 2020
what was that percentage because
i get lost in like my own understanding
of life having only gone through it once
right like i'm like oh everybody shops
online
then i'm like wait a second everybody
hasn't shopped online yet
you know even though it's 2019 and who
isn't shopping online because you
literally save time and money
two things that are awesome and anyways
it's like even after
all of 2020 has passed eight percent of
people still have not shopped online
ever
which is crazy if you haven't you should
try it
online shopping and spending online
shopping however
is a thriving trend 37 percent of
consumers
say their online spending has increased
over the last three months and 19
shop online at least once every day damn
at least once a day that's awesome see
because the reason that's awesome
because people like them
are why people like you and me are doing
so well
running our e-commerce businesses so we
have to thank people like that thank you
e-commerce and amazon amazon continues
to lead in e-commerce but consumers are
increasingly interested
in purchasing through other online
platforms including walmart and even
social media
which is you know funny to note because
you know how like instagram is
integrating
uh shopping into their social media
platforms and facebook is too
so you know that maybe that's one of
these trends that's going to it still
feels like it's very
um elementary it's very like in its
startup phase right now but who knows
where it'll be
in a year 56 percent of consumers
say that if they could only shop from a
single store it would be amazon
i'd probably be in that category as well
amazon prime versus walmart they have a
little section here 70 percent of
consumers
have an amazon prime membership which
actually makes sense if you do the math
on the 200
000 or 200 million um households
relative to
the population in america i think that's
about right uh 38
of consumers have a walmart plus
membership which is actually on the high
side i don't even know what that costs
if you guys have walmart plus let me
know in the comments and let me know
what you use it for because i'm open to
trying it i just
for me i don't know maybe maybe that's
why walmart won't let me sell on their
platform because i don't have walmart
plus as a consumer maybe if i get that
then they'll let me sell who knows
so where did consumers shop in the
fourth quarter 73
shopped on amazon.com 40 shopped on
walmart.com
and 18 shopped on target.com i'm not
gonna lie
i do actually like going to the target
stores in person
uh a lot more than i like going to
walmart and
you know before i go to amazon i usually
price check on ebay because ebay search
has
made it very easy to you know most
people think of ebay still as like the
auction site but like you can just go
and click a button that says
buy it now so everything you're looking
at are like final prices
and then you can also filter by price
plus shipping low to high and you can
actually see what something costs
and it's like it takes like 30 seconds
to do so before you go and like look at
what or amazon
where the search results are kind of
intentionally skewed where the cheapest
product doesn't necessarily rise to the
top
um or you know whatever it's you know
how amazon is you guys have already
shopped there
ebay you can at least get like a real
idea of the cost
initially up front all right the last
section top social media channels
influencing consumer purchasing
according to the survey number one
facebook
number two youtube i would have thought
maybe youtube would be above facebook or
even instagram being above both of them
uh so for number one facebook number two
youtube number three
instagram number four pinterest and
number five tiktok interesting
so 54 percent of consumers have
purchased products after seeing them on
social media and whether i realize it or
not i'm sure that's true about me
uh because if i get some new piece of
information that i think is worth acting
on you know i try to
in that you know time frame where it's
still fresh on my mind i do try to take
action
so you know for me it's a lot of like
self-improvement like um
health-related stuff but either way yeah
so i'm definitely guilty of that or
guilty i'm definitely
in that 54 let's say thank you so much
for watching guys do me a quick favor
hit that like button and subscribe if
you're not already
just a quick reminder i do have an
online school where i teach you
how to start your own e-commerce
businesses so that you are not
solely reliant on a handout from anybody
like the government in order to survive
and especially if you have
dependents you may want to really take
this stuff seriously because
everybody can make their own money you
don't need to have a job
where you have a predetermined salary
and you get paid x number of dollars per
day
in exchange for your time you don't need
to do that that is a thing of the past
now it's okay to work a job i'm just
saying like
you should be supplementing that income
with your own passive recurring
income that we make doing the things
that we talk about on this channel guys
i care about you that's why i get
passionate about it
so make sure you at least subscribe to
the youtube channel and just keep up
with what we talk about here
alright guys again thank you for
watching and i'll see you soon
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you