Consumer New Year’s Resolutions: 2020 vs. 2019

Last year we analyzed shoppers’ New Year’s resolutions to help ecommerce brands understand their customers’ 2019 goals. Our key findings indicated:

  • Younger generations were more likely to make (or intend to make) resolutions
  • Overall, women were more likely than men to make resolutions
  • Goals related to individual health and wellness (specifically getting fit or losing weight) were the most popular

We surveyed shoppers in the Bizrate Insights network this January and found that shoppers in 2020 are more committed to setting personal goals and more likely to look to their favorite brands for help in accomplishing them.

Our research suggests that 30% of shoppers would make resolutions in 2020 compared to 27% in 2019. Not only that, several resolutions grew significantly in popularity.

What types of New Year’s resolutions have you made?

Source: Bizrate Insights Flash Survey, January 2020.

Compared to last year, consumers are focusing on goals oriented around money. Financial resolutions saw a jump from 35% to 42%. Retailers that target messaging and offers to appeal to these more budget-minded shoppers are likely to win them as customers.

Family-related resolutions were also more popular. In 2019, just 29% of people made a resolution related to family. In 2020, that number rose to 34%.

Despite significant gains in other categories, the top resolutions in 2019 showed zero or negative growth. While health and wellness resolutions were again the leading category, with 64% of consumers making them, this is a 1% drop from last year. Personal development, the second-most popular category in 2019, saw a 4% drop, from 48% to 44%.

However, there’s a silver lining for health and fitness retailers: 2020 shoppers told us they were more likely than 2019 shoppers to buy a gym or fitness club membership (18% to 15%) or vitamins/supplements (20% to 18%) to help them reach their wellness goals.

What types of products are you planning to buy to help with your resolutions?

Source: Bizrate Insights Flash Survey, January 2020.

Overall, the 2020 shopper is motivated, budget-conscious, and ready for change. They’re looking for brands that will cater to their needs and empower them to achieve the goals they set for themselves – and those that do are likely to earn their loyalty for the rest of the year as well.