The internet will play big role in many Americans’ efforts to fulfill their New Year’s resolutions, according to a recent study by Performics. The research found that nearly half (48%) of respondents indicated they would use the internet to perform research as it relates to accomplishing their resolution.
Specifically, the December results from the “2009 Online Buyer Economic Trend Study” revealed that 36% of US consumers indicate they will go online to purchase items to further their resolutions, and 14% say they will uise an online support group or community to help reach their 2010 goals.
The study also found that 29% of respondents plan to use the internet to track the progress they’re making with their resolutions, though this activity had more appeal among the younger population. Some 44% of those in Generations X and Y (ages 18-44) are likely to track progress online, compared with only 20% of those ages 45+ who plan to do so.
Getting Back on Track
In terms of resolutions, consumers are looking forward to 2010 as a year for getting back on track financially. Respondents’ top 2010 New Year’s resolutions:
- Saving more money (41%)
- Enjoying life (38%)
- Losing weight (38%)
- Debt reduction or elimination (36%)
Money Management Top Priority
When Performics delved deeper into the topic of money management, it found that more than half (56%) of respondents say they saved less than they originally planned to in 2009, with 61% of women and 48% of men indicating this was the case. After not saving as much money as planned in 2009, the study found that 55% plan to save more in 2010. Of that majority, 66% of women vs. 44% of men indicated they plan to save more. There were also age gaps among planned savers in 2010: 66% of 18-44-year-olds plan to save more in 2010, vs. just half of those ages 45+.
In December 2009, 58% of respondents indicated that their household economic situation is the same or better, compared with only 47%? in April. December also marked the second consecutive month when a majority of consumers indicated a positive perception of their household economic situation. Additionally, respondents who utilized low-interest mortgage rates, Cash for Clunkers and the new homeowner $8,000 stimulus package in 2009 reported better household economic situations as a result, Performics said.
“Regardless of age or gender, consumers are clearly ready for a fresh start in the new decade,” said? Michael Kahn, SVP of marketing at Performics. “For the past two months, most respondents have said they’ll reintroduce purchases into their budget this year, and consumer confidence has been rising. Balancing these returns to spending with resolutions to boost saving could present some challenges, but consumers clearly feel more confident entering 2010 than when they entered 2009.”
These findings closely echo results from several other surveys which show that Americans are putting fiscal resolutions above physical ones on the priority list for what they need to address this year. These studies similarly showed that younger Americans are more likely to show interest in making and keeping their New Year’s resolutions.
About the study: Performics commissioned ROI Research to conduct the study, consisting of monthly surveys from April through December 2009. The December survey was conducted over a two-day period among 300 consumers who have made an online purchase in the past six months.