Consumer Digest: 2024 New Year's Resolutions January 2024
Welcome to the January Consumer Digest, where we provide relevant, informative and actionable insights around consumer trends. As we start the new year, we examine the changes that shoppers plan to make in 2024 especially around physical health, finances, and emotional wellbeing. We’ll also look at perceptions around “food as medicine,” dietary changes for the new year as well as what shoppers are looking for on product labels. Finally, we’ll wrap up with plans around Valentine’s Day & The Big Game.
Family matters: how HH composition dictates shopper behavior
2024 New Year’s resolutions and spending habits
58% of shoppers are setting goals heading into the new year, with most focused on physical health, finances, and emotional wellbeing. Shoppers report planning to cut back on discretionary spending and focus on necessary costs and savings.
43% set New Year’s resolutions
25% never set New Year’s resolutions
17% did not set New Year’s resolutions this year
15% haven’t yet, but plan to set New Year’s resolutions
Shoppers setting New Year’s resolutions are focused on mind, body, and wallet:
79%: Physical health
53%: Personal finances
42%: Emotional wellbeing
36%: Family
34%: Mental health
31%: Personal relationships
31%: Experiences
Shoppers have a frugal outlook on the year ahead – claiming they’ll spend less on discretionary costs like dining out, the same on necessary costs like prescriptions, and more on savings/investments.
I plan to spend less:
57%: Dining out/Carry out/food delivery services
48%: Outside of home entertainment
47%: Clothing
43%: Beauty Services
No change in spending:
69%: Prescription medicine
66%: Medical providers and services
65%: Transportation
61%: Household essentials
I plan to spend more:
53%: Savings/Investments
27%: Travel
23%: Supplements
19%: Groceries
Where they plan to eat – Over the next few months, most shoppers will continue with where they have previously eaten. However, more are planning to cut back on eating food away from home, increasing eating at home.
Physical health sentiments
58% of shoppers report that they’ll follow a diet this year, with the leading reasons being support a healthier lifestyle, feel better, and lose weight.
42%: No diet
22%: Low carb
19% High protein
16%: Intermittent fasting
8% Natural/Organic
7%: Mediterranean; Keto
5%: Vegetarian
4%: Weight Watchers, Gluten free, Flexitarian
Shoppers who are following a specific diet reported the following reasons:
65%: Support a healthier lifestyle
62%: Feel better
59%: Weight loss
44%: Increase energy
25%: Lower cholesterol
22%: Treating a medical condition
18% Save money
15%: Doctor, physician, or dietician recommended
Food as medicine – managing heart health, weight, and cholesterol are the most universal concerns by all age segments
How important do you believe the food you eat is, if at all, when it comes to the following?
Reading labels…It’s what’s on the inside that counts
Shoppers read labels in categories that include ingestible products like medicines and vitamins in Health Care, along with Frozen Foods, and shelf stable products.
How important are the following when it comes to food product labels?
43%: Guaranteed fresh
43%: Good for your health
42%: Nutritional value
39%: Gives you energy
37%: Strengthen immunity
The Big Game – What fans are eating on the side-lines
What type of food/beverage do you plan on purchasing for your Big Game celebration?
51%: Household requests/preferences
43%: Deals in preferred store
35%: Items available in physical store while I shop
33%: Recipes that I plan to make
27%: Items I already have at home
Valentines
Who are they buying for?
54%: Spouse/Significant others
32%: Children
11%: Pets
10%: Other relatives
9%: Myself
Where do they find gift inspiration?
52%: A mass retail store
37%: Online search
33%: A grocery store
27%: Do not plan to celebrate Valentine’s Day this year
Want to dig deeper?
Each month. 84.51°’s Consumer Digest Report delivers relevant and actionable insights around consumer trends directly to your inbox. Now, for an incremental investment, 84.51° invites you to explore these insights the way you want via the 84.51° Consumer Digest Dashboard.
SOURCE: 84.51° Real Time Insights, January 2024
Visit our knowledge hub
See what you can learn from our latest posts.
