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After its US launch in September 2023, TikTok Shop has become a significant competitor in the social commerce space. Momentum has been slow to build; only 11% of US households report making a purchase through TikTok. But those sales equate to a 7.7% share of the total social shopping Gross Merchandise Value.
In a move that illustrated the power of AI technology, Klarna announced that its new AI assistant was able to handle 2.3 million conversations, or two-thirds of the company’s customer service chats, during its first month.
Influencer marketing has become a necessity as customers shift their shopping preferences. The American Marketing Association says that 80% of companies in the US now use influencers for marketing purposes in what has become a $17.4 billion industry.
LegalShield’s Consumer Stress Legal Index (CSLI) revealed that consumers are now experiencing financial stress at a level higher than has been seen since November 2020. The CSLI, which analyzes data from more than 35 million consumer requests for legal assistance, originates from unprompted calls from existing LegalShield members seeking help from an attorney.
Effective March 11, 2024, the US Department of Labor’s Final Rule, called the Employee or Independent Contractor Classification Under the Fair Labor Standards Act, is expected to create further limitations for millions of entrepreneurs classified as independent contractors.
Gallup’s State of the Global Workplace: 2023 Report revealed that 23% of employees were engaged at work in 2022—the highest level since 2009. The flip side is that more than half (59%) of employees are quiet quitting, meaning they put in the minimum effort required and feel disconnected from their work.
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