Aligning your business with customer resolutions in 2024

Embarking on a New Year often brings a surge of motivation, and let's be honest, sometimes a tinge of guilt for those abandoned resolutions. Dusty musical instruments and untouched cookbooks serve as nostalgic reminders of our high hopes. However, this year, consider aligning your business goals with the aspirations of your customers to create a winning synergy.

For online retailers, understanding your customers' struggles and aspirations can be a game-changer. This insight allows you to tailor your products, services, and messaging, providing a competitive edge in the market. So, what key insights should you be aware of? Forbes Advisor tells us:

1. Rising trends: In 2024, the trend of setting New Year's resolutions is expected to be more widespread, with only 19% doing so in 2023. Be prepared for a surge in demand and align your offerings accordingly.
2. Demographic variation: Younger individuals, aged 18-34, lead the charge with a notable 51% planning resolutions, compared to 34% for those aged 35-54 and a modest 12% for those 55 and above. Recognise the varying needs of these age groups in your product offerings.
3. Pressure points: Understand the pressure points your customers might be feeling. Approximately 18% of Brits feel pressured to set resolutions, with the younger demographic (37% of 18–34-year-olds) experiencing this pressure the most. Tailor your messaging to alleviate rather than exacerbate this pressure.
4. Non-resolution majority: Surprisingly, 57% of people either have never set a New Year's resolution or have no plans to do so in 2024. Consider catering to this market segment with products or services that offer value beyond traditional resolution-related offerings.

Most popular resolutions for 2024

Now, let's delve into the most popular New Year's resolutions for 2024. Here, we break down the percentage of individuals choosing each objective as a resolution, to help you align your offerings with customer priorities.

By understanding your customers' aspirations, tailoring your products and services, and empathising with their pressure points, you can position your online retail business to thrive in 2024.

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Happy selling!