New Year's Resolutions for 2023 from a Consumer Perspective
The ancient Babylonians are said to have been the first people to make New Year’s resolutions, around 4,000 years ago, and it used to be that these resolutions were made in part as offerings to religious gods, but nowadays, a New Year's resolution is a tradition in which a person resolves to practise better habits and achieve personal goals. For MAG, new year’s resolutions paired with consumer data make us excited. Why? Well, we can use these common new year’s resolutions to understand our campaign audiences.
As a brand, you can take advantage of these trends. So let’s look to what’s likely to be on consumers' minds when they make their new year’s resolutions for 2023.
New Year’s Resolution 1:
In 2023 people are going to make new year’s resolutions concerning health and fitness:
8 in 10 aspire to the idea of being fit and healthy.
+35% are more likely to purchase a gym membership in the next 3 months.
+92% are more likely to be considering buying a smart scale or other smart health tracking device in the next 6 months.
What this shows is that consumers will be more receptive to fitness/health brands in early 2023, and will also be seeking them out- in particular for memberships & device, they’ll be looking to the sales.
New year’s resolution 2:
With an upcoming recession, people are going to be more concerned about where they’re putting their money- and the beginning of the year is a good time for them to plan on how they’ll spend or save. Let’s look at the stats:
69% plan to save more money in 2023.
+39% of people are more likely to switch mortgage provider.
+25% more likely to take out a credit card.
+24% say there are better sales selections in-store
72% ensure they utilise all sales, coupons and deals .
What does this data show us? Well, ultimately it shows that in 2023, consumers will be seeking out value- using the sales, vouchers, and switching to financial companies that will save them money.
New year’s resolution 3:
Travelling is always a big consideration for people at the beginning of the year, especially with new-year’s deals.
73% are more optimistic about travel than they were in 2022.
72% say travelling is still worth it despite financial uncertainty .
1 in 2 say investing in a holiday is still a top priority .
There are always trends with travel, and it’d be useful to spot these as early on as you can as a brand, especially as more and more consumers are prioritising them in 2023.
There you have it! One way to know your consumer further.