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New Year’s Resolution Statistics: How Resolutions Correlate to Consumer Buying Trends in Durable Goods

January 5, 2023
Ashley Jefferson Author 5 mins read
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New Year’s Resolution

In a tradition that dates back more than 4,000 years, consumers around the world choose New Year’s resolutions that impact how they spend time and money – recreationally, professionally, and personally. As a result, businesses in the U.S. typically see an increase in purchases like gym memberships, home gym equipment, cookbooks, and other lifestyle change-related goods. 

After a flurry of holiday spending, consumer durable spending often slows in the first quarter. However, not all product categories are affected equally by this trend.   

In this article, we analyze 10 years of consumer insights data to determine how the new year impacts the consumer durables industry. By evaluating incidence rates across 20 different TraQline Durable IQ™ product categories, covering a total of more than 250 products, we were able to find the top 3 durables goods categories with the most notable increase in demand from holiday spending in Q4 to new year purchases in Q1. 

New Year Consumer Purchase Trends

Top 3 Durables Product Categories by Spend Increase  

Based on TraQline consumer insights data from 2012-2022, the following 3 product categories show the most notable increases in demand between Q4 to Q1: Exercise Equipment, Outdoor Power Equipment (OPE), & Household Cleaning Supplies.

Let’s look at what the data shows, and how these increases might correlate with consumer resolutions.  

Exercise Equipment
Q4 to Q1 Purchase Trends

Across all TraQline’s 250+ consumer durables products, consumer demand for Exercise Equipment products has consistently seen the largest increase from Q4 to Q1 in the past decade.  

With a majority of all New Year’s resolutions in the United States relating to health and wellness changes – namely to exercise more – this is an unsurprising finding. Since Sweatin’ to the Oldies, the first YouTube workout video, launched in 2003 – followed by Peloton in 2013 and FitBit in 2014 – the popularity of improving exercise habits at home has continued to increase. 

Notably, while still higher than the rest of the year, the Q4 to Q1 demand from 2021 to 2022 did see a minor decrease in demand, when compared to previous years. It will be an interesting to watch this data in the coming years to determine if this is an ongoing trend or if the decline correlates primarily to a rise in more consumers opting again for gym memberships in the wake of the coronavirus pandemic. 

Products within the Exercise Equipment durables category include, but are not limited to:  

Elliptical Machine  

Incline Trainer  

Multi-Purpose Gym 

Rowing Machine  

Ski Machine  

Stair Climber/Stepper  

Stationary Bike 

Treadmill   

Weight Bench  

Outdoor Power Equipment
Q4 to Q1 Purchase Trends

Though Q1 isn’t the quarter consistently showing the highest demand for Outdoor Power Equipment (OPE) products, there is still a notable increase in demand at the start of the year.  

Surprisingly, this increase in demand is not led by cold weather-specific products. While typically still in high demand during the winter months, peak demand increase is not seen in Q1 for key winter OPE products, such as snow throwers – despite that Q1 is undeniably the coldest of the year. 

On the contrary, the Q1 demand increase trend can be seen in the sales of products like walk-behind mowers and line trimmers, as well as garden tools and plants. While unlikely to be closely connected to any standard New Year’s resolution, the increase in demand for warmer weather OPE is more likely to be related to consumers preparing for the summer and taking advantage of President’s Day sales at the end of the first calendar quarter. 

Household Cleaning Supplies
Q4 to Q1 Purchase Trends

The demand for products in the Household Cleaning Supplies category stays fairly consistent throughout the year. However, data from the past several years does show that there is generally a noticeable spike in demand for Household Cleaning products in Q1.  

With the Healthy Home concept seeing a rise in prominence in 2021-2022, this increase in demand for household cleaning products could be linked to resolutions to start the new year off with a clean and organized home, maintain a clean and healthy environment throughout the year, or complete home renovation projects. 

Household Cleaning Supplies include products like all-purpose cleaners, disinfectants, and laundry detergent. 

Stay Informed of Consumer Purchase Trends in Durable Goods

As a brand, marketing, or insights manager in the consumer durables industry, it’s important to keep an eye on purchase behavior trends to ensure products are properly merchandised to meet expected increases in demand. By staying informed of the most important consumer behavior trends, you’ll be better equipped to make data-driven decisions, capitalize on trends, and boost sales throughout the year. 

Interested in seeing the quarterly trends for any consumer durables industry, brand, or retailer? Reach out to our team at TraQline today to request a demo of Durable IQ.  

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