The new year has begun and with it comes high hopes for a better year! For many, the challenges of 2020 were great, but every new year, even this one, sees a unique impact on consumer behavior.
In many cases, the impact is a direct result of new year’s resolutions made by consumers. For businesses and industries, these consumer resolutions and their impact on consumer behavior can mean enhanced opportunities and greater profits.
While a common resolution of weight loss likely comes to mind, fitness centers aren’t the only industry that can expect a boom as 2021 begins. Let’s explore how the start of a new year impacts consumer behavior.
The “Why” of New Year’s Resolutions
New Year’s resolutions happen every year, with individuals seeking to change behaviors for the better. This year is no exception, but why make resolutions at the advent of a new year? Resolutions showcase individual goals and aspirations, but research shows only around one-fifth of those who make resolutions actually keep them. So, why make them at all? And if they are made, how are they kept?
Many individuals make resolutions simply because everyone is doing it. Most consumers see behavior changes as correct behavior when others are doing it. For businesses, this means showcasing positive behavior adjustments can help you influence the behavior (including spending) of your target audience.
The start of the new year signals a milestone for many, a fresh start permitting not only self-improvement but self-discovery. These milestones are significant for consumers, and businesses can use them to influence consumer behavior and garner attention for their brand.
Resolutions are designed for the future, not the present because most people see the future as a better place with a better self. Businesses that offer products or services with future benefits can leverage this belief and bridge the gap between the present and the better future much of humanity envisions.
For all businesses and industries, harnessing the New Year’s resolution behavioral milestone, means making the anticipated changes in behavior easy to accomplish. Think about it, if the New Year’s resolution is to be healthy, one easy way to make the goal more accessible is by tossing out the junk food and filling the kitchen with healthy delicious options. For businesses, this translates into marketing campaigns that are approachable and easy to act on quickly.
To a New Year Filled with Health and Wellness
Health and wellness categories include produce and seafood at the grocery store, but also nutrition bars and drinks, as well as vitamins and supplements. Also included are not only fitness and gym memberships but home fitness equipment and clothing categories.
Environmental impact, or going green (or more green) often aligns with the health and wellness trends, as these individuals believe environmental improvements, including the purchase of eco-friendly brands or products, aid in the overall health and wellness of humanity.
Leveraging the New Year Consumer Behavior Trends
To engage the consumers involved in the New Year’s behavior trends – health, fitness, organization, hobbies, spending, and living better – businesses need to glean enhanced insights into their target consumers and gain a greater understanding of existing customers. Intentions, actions, and interests influence shopping trends. How?
At the beginning of a new year, consumers are more willing to try new products and services. Why? They want to change their routine, do a new thing, explore new horizons. Your brand can tap into this “new” nature by simply changing marketing tactics, and offering new, improved products and services.
As already mentioned, health and wellness are the peak of New Year’s resolutions, which means a change from the indulgent marketing of the holidays to a cleaner, self-improvement approach for the new year that showcases your company’s health and wellness offerings.
The New Year also brings a host of resolutions about budgeting better, a trend toward saving more and spending less. Businesses can engage these consumers with deals, discounts, and promotions to start the New Year and attract new customers as well as encourage existing customers to spend more.
Not only in the New Year, but all year round, consumers are driven by experiences. Whether a shopping experience or a positive experience surrounding the use of your products and services, creating experiences is a great way to reach out to your customer base and target audience and draw them into your brand.
Exults Digital PR Can Help You Leverage the New Year’s Impact on Consumer Behavior
The start of the New Year is the ideal time for your business to develop a plan for successful digital marketing. Digital PR powered by Exults is ready to help with an expert team who knows the industry inside and out and can give your company the guidance needed to stake your claim in all the New Year has to offer!