Jasmine doesn't need tons of water. Did you harden off the plant when you brought it home? They love heat and full all day sun. They like mildly acidic soil and you do need to feed it. They grow really fast so prune it. If it has been windy or raining the blooms will fall off. Also it's bloom time is July to September. So right now it is ahead of schedule for blooming. Just prune it and let it dry out a bit. You may have been overwatering. I have noticed with mine the buds tend to be on new viney growth at the tips. I have two bushy ones and one viney one. Technically it is a twining vine and it does love to climb up or out. If you can, move it to a place that gets HOT sun all day. Mine didn't do well until it was above 60 at night and in the 80's during the day and the sun was up from 530am to 930pm. The drying buds and flowers falling off might be transplant shock so just trim everything back, all blooms and buds so the roots have time to adjust. Jasmine can be fairly hardy if you watch the leaves. They should be a little shiny and green when you get the right water amount. When it gets too dry the leaves look tired and wilted and dull. I water mine on the same schedule as my lavenders and sages (once a week) and all my other plants get water twice a week.

Also it may not be a plant that is suited for your climate. I would see how it does this year for you. I don't have a Walmart or any box stores like it where I live, so I go to the local nursries. With the language barrier I have sort of assumed that if the local nursries carry the plant in the outdoor section, then it will grow here, and I haven't gone wrong yet for the past two summers.

You have to gradually ease these plants to a different environment - whether to full sun or even to shadey conditions (yes, they can grow and bloom perfectly fine in bright shade as they are an understory vine), or you may get that type of abort of blooms like you are seeing.

It could be that yours wasn't quite adapted yet going from the store having grown under store lighting conditions, to full blazing sun, but it should settle down. They bloom on new growth so it should eventually go into a growth and bloom cycle.