The holiday season may help retailers boost their Q4 sales, but new research indicates that consumers also spend a lot of money well into the New Year.
And no, it isn’t to purchase unnecessary items that are on sale so retailers can deplete excess inventory. In reality, consumers are purchasing items in an effort to keep pace with their New Year’s resolutions!
Ah yes, we all know the New Year’s resolution all too well, don’t we? Whether you pledged to lose weight, practice yoga or learn how to knit, obviously, you need a few new items to support your goals.
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According to research from Influence Central, 68% of consumers plan to spend up to $500 to keep their New Year’s resolutions. More than half (54%) of the 20,000-person panel said they’d be spending this money throughout the year, while 21% said they’d blow through their budget within the first three months of the year.
Unsurprisingly, the top New Year’s resolutions are to:
- Get fit/get more exercise (43%);
- Lose weight (43%); and
- Eat more healthily (42%).
To that end, retailers can look to these New Year’s resolution trends to identify new marketing opportunities. For example, Zappos used its content curation site Glance to promote workout outfits and other “gear” that can support consumers’ fitness resolutions.
Another idea is to develop a series of lifestyle blogs focused on new workout or nutrition trends. These articles can be supplemented with information on complementary products and recommended items.
Retailers: Have you been capitalizing on the New Year’s resolution season? We’d love to hear how you’re empowering your customers to improve themselves in 2015!
