The Business of New Year's Resolutions: Top Brands and Retailers 2020
You know what they say: New year, new you.
As we launch into a new year, many will be looking inward, making resolutions—losing weight, eating better, relaxing more—to improve themselves.
Well, for the first month or so anyway.
And with each new year, retailers see a bump in sales as shoppers make purchases to aid in their pursuit of such resolutions. But this raises some questions:
- How common are purchases to aid the achievement of New Year's resolutions?
- What specific product categories make especially common "new year, new you" purchases?
- Which retailers are particularly popular for such purchases?
- Which brands are most commonly associated with the achievement of resolutions?
Let's get some answers.
Down to Business: New Year's Resolutions
To understand the shopping behavior of Americans toward New Year's resolutions, Field Agent surveyed 2,101 shoppers* across the country this weekend.
All respondents were smartphone owners and U.S. adults at least 18 years of age. The survey was administered entirely through the Field Agent mobile app, January 3-4, 2020. Demos: Gender - Female (69%), Male (31%); Age – 18-34 (30%), 35-44 (35%), 45-54 (22%), 55+ (12%); Race – Caucasian (71%), African American (13%), Latino/Hispanic (7%), Other (10%); Household Income - <$35K (24%), $35-49K (20%), $50-74K (23%), $75-99K (15%), $100K+ (18%).
Turns out, quite a few people jumped on the resolutions wagon in 2020.
More than half surveyed (65%) indicated they had set at least one resolution or self-improvement goal for the new year.
Below we present some of the highlights from this survey as a 5-question QuickFire Q&A.
QuickFire Q&A: The Business of New Year's Resolutions
1. What resolutions did Americans set for themselves this year?
What resolution or goals, you ask?
Though we gave agents 19 options to choose from, ranging from making new friends to breaking bad habits, four of the top five resolutions selected had to do with physical health, with exercising more (47%) taking the top spot.
2. How common are purchases in pursuit of New Year's resolutions?
It's hard to accomplish major goals solo. That's why many people download apps, join support groups, and purchase products to help them fulfill their resolutions.
But how common are such product purchases?
Of respondents who said they made resolutions for 2020 (n = 1,371), a whopping 77% said they have or will make purchases in support of these resolutions.
3. What are the most common "new year, new you" purchases?
Then comes the question of what. What are folks buying in support of their 2020 New Year's resolutions?
Among 1,057 shoppers who have or will make purchases in pursuit of their resolutions, groceries (45%) were the top purchase, followed by vitamins, minerals, and supplements (29%) and hygiene/beauty supplies (25%).
Field Agent followed up with many of these respondents, asking for a photo of their "new year, new you" purchases. Here's a selection of these photos...
4. Which retailers are popular destinations for new year, self-improvement purchases?
And where, pray tell, will these purchase-minded, resolution-makers (n = 1,057) be spending their money?
As you can see, Walmart (68%), Amazon (54%), and Target (45%) are the most popular retailers for purchases in support of New Year's resolutions.
5. What brands are commonly associated with the achievement of New Year's resolutions?
We wrapped up the survey by asking respondents who made at least one 2020 resolution (n = 1,371) to identify the one brand they most associate with the achievement of their New Year's resolutions.
Nike was far and away the most popular choice. Several agents even included the company's slogan, "Just Do It," in their responses as a motto for pursuing their fitness goals.
You know, one New Year's resolution deserves another.
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