In its 2024 Economic Impact Report, the Direct Selling Education Foundation reported the combined annual industry impact of direct selling activity on the US economy in 2022. The study was conducted by Professor Robert A Peterson, John T. Stuart III Centennial Chair in Business Administration at the McCombs School of Business, The University of Texas at Austin.

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.