Quotient (QUOT) - Get Quotient Technology Incorporated Report, the leading digital promotions, media and analytics company, today announced findings from a recent survey that reveals consumer mindset on New Year's Eve celebrations, resolutions and food habits for 2021.
The survey of over 1,100 US consumers showed that 82% of consumers will celebrate New Year's Eve in some form or fashion this year, but more than 48% are planning to celebrate New Year's Eve at home with immediate family (no guests). Like many cherished holidays, food and drink will continue to take center stage. According to the survey, the majority of New Year's Eve meals (68%) will feature food that is made and eaten at home. Thirty-nine percent of those surveyed noted they plan to cook themselves while another 29% plan to enjoy a home-cooked meal prepared by someone else.
As restaurants continue to shutter indoor dining, it's no surprise that only 4% of consumers plan to go to a restaurant or bar. In fact, as time progresses, Quotient's COVID-19 data dashboard shows an upward trend in grocery dollar spend lift—the dollar sales value of each basket—within Boston, Los Angeles and other major markets, reflecting the need for increased home cooking.
In addition to dining out, a champagne toast isn't on the menu for everyone: only 23% of consumers surveyed will be consuming the sparkling beverage for New Year's Eve. Alternatively, 20% plan to ring in the New Year with spirits/liquor, 17% with wine/mulled wine and 11% with beer. Additional insights on adult beverage preferences can be gained from our internal data tracking from March 1 to October 31, 2020. 1 The liquor category saw the biggest sales lift (24%) and the highest increase in the number of shoppers (14%) when compared to other alcoholic beverages during the same period in 2019. Beer enjoyed a 23% sales lift and a 12% increase in the number of shoppers while wine experienced a 14% sales lift and a 5% increase in shoppers.
"Brands that cater to at-home celebrations and offer ingredients and ideas for experiences for a fun night in can reach consumers looking to close the book on 2020," said Steven Boal, CEO and Founder at Quotient. "As 2020 taught us, brands have a great opportunity to listen and adjust their marketing approach to changing consumer needs to build brand affinity and loyalty long-term."
Pandemic (and recession) fueled resolutions
In addition to New Year's Eve plans, the survey also explored consumer resolutions for the coming year—with most (58%) planning to make a new year's resolution. Consumers are taking a practical approach to 2021 and intend to save money/stick to a budget (58%) and eat healthier/cook at home (50%).
These goals, and the overall urge to commit to them, may have been fueled by the pandemic. Previous reports indicate that far fewer consumers were interested in making resolutions in 2019. This includes a report from Ipsos/Urban Plates, in which 38% of consumers said they had goals for 2020, and a report from YouGov, which showed that only 28% were willing to commit to meaningful changes in the months ahead.
"While saving money and eating healthier generally top new year's resolution lists, both may have more momentum behind them this year as we wade through a pandemic and a recession," said Boal. "Offering smarter ways to save, and expanding this into the digital realm for consumers that are online now more than ever before, will resonate with budget-conscious shoppers heading into the new year."
Interestingly, an overwhelming majority of women (75%) vow to save money/stick to a budget while only 54% of men plan to do the same. Fifty-nine percent of consumers plan on using digital coupons to help in this effort and 36% plan to use digital rebates, further emphasizing the trend toward digital.
New year's resolutions go beyond saving money and eating healthier. The survey found that staying at home this past year may have given some consumers a bit of clairvoyance. In fact, 17% of respondents plan to make a big life change in the upcoming year—such as seeking a new career or moving to a different state. Additionally, over 24% plan on spending more time in nature—doing things like hiking and camping.
Eating behavior shifts that stick
The pandemic showed us a tale of two eaters—with some consumers choosing to eat more healthily, while others opted for quick and easy comfort. When asked how the pandemic and staying at home affected consumers' eating habits, 27% said they focused more on eating healthy foods and prepping their own meals. However, not everyone took the healthy route. Nearly half (48%) of respondents made adjustments to eating habits out of ease or convenience, choosing comfort food (22%), junk food (10%), frozen/pre-made meals (8%) and food from meal delivery services (8%) over alternative options. This is not surprising as Quotient's COVID-19 data dashboard reported "frozen pizza" as one of the top 10 products sold at the end of October/early November. Additional items included "chocolate candy" and "refrigerated cookie dough."
"We already know from our COVID-19 data tracking that more time spent at home means more food is needed, especially when meals provided from school or dining out aren't readily available," added Boal. "It's no surprise, then, that resetting a healthier eating mindset is high on the list of resolutions for many consumers, tempered with the realities of today, and will be reflected as such on grocery lists."
In the year ahead, consumers are planning to add fresh produce to the top of their grocery lists (66%). Pantry basics (43%) also remain in high demand as we continue to wade through the pandemic and spend more time at home. More than three-fourths of consumers (79%) surveyed plan to cook meals at home at least 75% of the time—up from less than two-thirds (59%) who did so before the pandemic.
Some will also be happy to know that bread's 15 minutes of fame aren't over just yet. Of the 34% of consumers that started baking bread during the pandemic, 79% will continue their newfound passion in the new year. Interestingly, Gen Z proved to be the demographic that baked the most bread (44%), and 77% of those individuals plan to continue baking bread in 2021.
More survey findings can be accessed on Quotient's website here.
To assess changing consumer behavior related to the New Year's Eve holiday and eating habits going into 2021, Quotient conducted a survey of over 1,100 respondents across the United States via Survey Monkey in November 2020.
Quotient Technology (QUOT) - Get Quotient Technology Incorporated Report is the leading digital promotions, media and analytics company that delivers personalized digital coupons and ads—informed by proprietary shopper and online engagement data—to millions of shoppers daily. We use our proprietary Promotions, Media, Audience and Analytics Platforms and services to seamlessly target audiences, optimize performance and deliver measurable, incremental sales for CPG and retail marketers. We serve hundreds of CPGs and retailers nationwide, including Clorox, Procter & Gamble, General Mills, Unilever, Albertsons Companies, CVS, Dollar General and Peapod Digital Labs, a company of Ahold Delhaize USA. Quotient is headquartered in Mountain View, California, and has offices in Bangalore, Cincinnati, New York, Paris, London and Tel Aviv. Visit www.quotient.com for more information.
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1 Source: Quotient Internal Data (3/1/20-10/31/20 vs. 3/1/19-10/31/19)
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