It's that time of year again - a fresh start, with resolutions to save money, get healthy, focus on self care abundantly affecting consumer shopping habits. 60% of Americans make New Year resolutions, but only about 8% are successful. The majority of people tend to see spending money on resolutions as preparation that will prove invaluable to helping them stick to goals and stay on track for the next 365 days (even if it means spending money to help them save money in the long run). Knowing what the top trends are for New Years, means being able to strategize and prepare effective campaigns to reach a significant number of people looking to invest in themselves this time of year. Here are some of the top resolution trends of 2019 and some of the most effective marketing campaigns using this month to their advantage:
Always at the top of the list, 71% of people hope to diet or eat healthier, 65% are planning to exercise more, and 54% want to lose weight so expect to see a rise in fitness subscriptions (especially app-oriented) and services. Take for example, ClassPass, which is seeing rapid expansion as it incorporates the ease of an online class booking with an easy to track billing process for many gyms and fitness programs, allowing flexibility and experimentation in people's fitness routines. Other trends in fitness that are skyrocketing: meal planning, and prepping. From home delivery subscription services such as Hello Fresh, diet options like keto and gluten-free menus are on the rise, as people try to pay attention to what they're eating and how it's being prepared.
People will invest big to achieve their fitness goals - from buying a year's worth of exercise classes, to investing in home workout equipment or virtual classes. Meal preparation tools such as cookware, containers, and meal planning and diet apps and tools will top the charts this month in sales. Personalized vitamins such as Care/Of have seen a boost in sales as people begin to change their eating and health habits for the new year. Other big fitness trends? Wearable fitness tracking technology, HIIT (high intensity interval trianing) routines, fitness accountability social media posts.
2. Budgeting and Saving Money
Saving money is almost always in the top five resolutions made in the New Year, and also one of the top five most commonly failed, with 32% of people planning to save more and spend less in the coming year. One big way affecting this resolution this year is the rising usage of mobile apps to help save, track, and budget. Some apps, like Mint, allow consumers to connect their accounts and bills to the app to help them set goals, get an overview of their spending habits, and receive alerts about when they're getting close to meeting their budget goal in certain areas.
Others, like Qapital and Acorns, center their offerings around making it easy and painless to transfer money to build up savings by rounding up purchases to the nearest dollar and moving it into savings for every purchase. However, many Americans are shifting their savings toward long-term objectives; 48% plan to increase their retirement savings by 1% or more of their salary in 2019.
People are optimistic, despite the pitfalls of financial resolutions, with 85% of millennials predicting they will be better off financially in 2019, and 42% state they are in a better financial situation this year. The primary resolutions? Saving more, paying down debt, and spending less.
3. Self Care
Last, but certainly not least, people are invested more than ever this time of year in self care. Apps that reduce social media time see a spike in popularity, as well as meditation guides, self-help guide sales, and self-improvement events and purchases, such as candles, beauty supplies, massages. It's a great time to reach out to your customers and offer some great deals on package deals, free trials, and creative marketing to promote self-care with your marketing efforts.
People are also hoping to spend more time with loved ones in the new year, and organizations that offer a gathering space, whether restaurants or shopping centers, will do well to position themselves taking into consideration the fact that people are looking for spaces, reasons, and activities to bring their friends and family together in the New Year. Shopping trends are shifting towards pop-up and unique experiences, so take advantage of your social media feed to show off how your space is the perfect hangout spot.
Important also during this season, is making sure you're reaching out to new movers who are setting resolutions and looking for places to fulfill them in their new neighborhoods.