2024 trends & predictions: What to expect from consumer spending in the new year

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Home » Blog » 2024 trends & predictions: What to expect from consumer spending in the new year

Valpak surveyed over 1,400 U.S. adults to understand their spending inspirations and concerns heading into the new year. Unsurprisingly, New Year’s resolutions around maintaining a healthy lifestyle with physical health goals (weight loss and fitness)—similar to last year—featured prominently in survey results. An emphasis on healthy living, physical activity, healthy habits, overall self-care, and well-being seem to be at the top of our minds again, a positive sign as we move further away from and grow more accustomed to and better equipped to take on those cases of flu and other new coughs and colds impacting American lives.

As stubborn inflation continues to set budget limitations, consumers remain shocked at lingering high prices and lighter wallets, pausing and prioritizing purchases of what they need (good healthcare) vs. want (a new tech toy). However, the desire to travel bucked the trend nationwide as experience seekers want to get out there and see the world. Intentions to remodel homes and buy new cars are also high despite worries of a changing economy, with fingers crossed that things continue to move positively and supply chains stay constant in the new year.

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Key Findings

In 2025, consumers will:

  • Prioritize self-care, travel and entertainment
  • Reduce spending on other “unnecessary” items
  • Purchase cars / new furniture as buying conditions improve
  • Pay for professional help to improve overall health
  • Switch service providers based on prices
  • Buy what makes them feel comfortable and happy
  • Travel, despite high costs and tight household budgets

Build your marketing strategy around these online survey result insights and make smarter advertising decisions that resonate with tomorrow’s consumers!

New Year’s resolutions: New year, new (& improved!) you

Healthy eating, exercising and losing weight again became the top 2025 New Year’s resolutions. With enduring high prices on everything from groceries to energy bills to tickets to more big shows like Olivia Rodrigo’s GUTS tour… if you could get them, a good number of respondents (up 9% from last year), 29% still want to reduce debt and save money in the new year.

In the new year, I want to:

in the new year things people want to do categories

Prioritizing Needs Above Wants When Buying

“I have been preparing myself for the New Year, and I am going to stay on a budget and be more practical!”

“It’s all dependent upon the economy and what is affordable.”

Buying what you need (primary care) versus what you want (items on Target.com) can be a challenging impulse to control. Diamonds are a girl’s best friend, but that friend doesn’t put food on the table, boost overall health, or pay the rent. Not all large purchases are frivolous or unavoidable, though (even if some of them might raise one’s blood pressure). Keeping a paid-off car running with routine maintenance is cheaper – until it isn’t. Living in a smaller home with a lower mortgage is great – until your family outgrows it. Many consumers have waited years to buy a car or home, which has been detrimental to their quality of life. They are hopeful that availability and price will improve in the new year, with an exciting 26% intending to buy a car and 12% to buy a home.

In the new year, I intend to:

in the new year things people intend to do categories

Boost My Health & Energy, And Let Someone Else Do The Work

“I don’t wait until the New Year to make changes or improvements but try to do them throughout the year. Why wait?”

“Depending on savings, some spedific home improvements.”

“I plan on quitting smoking, getting a tummy tuck and fixing my teeth!”

Traditionally, consumers often opt for do-it-for-me when it comes to auto maintenance (26%) and home improvements (21%). But there’s nothing like an uncertain economy to encourage learning new skill sets. Search YouTube, and you’ll find DIY channels and videos on how to change your oil or build a deck, or, heck, build an entire house—they have an app for that, right? It’s important to consider whether the money you save is worth the time or effort (or end product). Beyond cars and homes, consumers will be more proactive in protecting their assets in 2025, with 22% hiring professional help to manage their finances and taxes and 11% for legal advice.

Moreover, even though time has passed since those rocky days we all want to forget, it’s no secret that people now have a greater appreciation and want to continue just enjoying things (seeing loved ones, improving mental health)—stuff they were unable to during lockdowns, like parties, events, gatherings, etc., with one reality check: The need to enhance one’s appearance and presentation has made a significant comeback, so why not use an experienced business to do it.

In the new year, I intend to use a professional service for:

in the new year things people will hire a pro to do categories

Among the many lifestyle changes now being adopted, some consumers plan to update their wardrobe, and others want to change their hair color and whiten their teeth. When you get right down to it, as the stability that the “inside days” are officially behind us, getting back out there and enjoying everyday life like before, who doesn’t want to look and dress for success?

In the new year, I plan to pamper myself:

items people plan to pamper themselves with

The Itch To Switch: What Will Convince A Customer To Leave?

Consumers are taking action; they will not sit idly by and deal with higher prices (37%) AND poor customer service (21%). They’ll just take their business elsewhere.

Certain providers, like banks and credit cards, are more complicated than others to move away from or switch. You trust your doctor, and she accepts your insurance; there are 2 years left on your phone plan; nobody cuts your hair as well as your local hairstylist. When a business moves or shuts down, it’s easy for customers to switch.

When asked what type of health-related visit they plan to make in the new year, there was an even split between a dentist and primary care physician (52%), an eye doctor / specialist (23%), or a dermatologist (18%). In the past 30 days, 27% of U.S. adults responded to ads / coupons in their mailbox (AudienceSCAN). If not, advertising, word-of-mouth, and coupons can help them jump ship.

In the new year, I intend to switch:

items people intend to switch in the new year

“It all depends on how quickly we can continue to climb out of consumer debt incurred during the pandemic.”

“I want to manage my money better this upcoming year, and stop spending on useless things.”

“I plan to spend MORE on groceries because of inflation.”

Money and budgets seem to be on many people’s minds, even as things are beginning to look better. And folks want to go out and shop—with coupons. But what types of coupons are people MOST looking for? Unsurprisingly, grocery retook the top spot with 57% of respondents, while dining / restaurants came in second (37%), followed by clothing (34%), pushing down a notch the big box retailers (e.g., Walmart, Target, etc.).

In the new year, I will be looking for the following types of coupons:

in the new year people look for these coupons

Happiness And Comfort Come In A Purchasing Motion

Another need is (the need) to feel good about your buying choices. At the end of the day, how you feel about a purchase, whether smart or healthy or stylish, can make letting go of hard-earned cash that much easier. So why not kill two birds with one stone: get what you want and feel happy (58%), or useful (31%), or maybe even safe (32%) about buying it!

In the new year, I want to buy things that make me feel:

in the new year I want to buy things that make me feel

Places To Go, People To See, Where And How Long (Is The Question)

“We are planning a trip to the Panama Canal, on my spouse’s bucket list. We are gathering with children and grandchildren at Disney World in May of 2025 to celebrate multiple milestones. Then we are going on a lengthy European cruise in the fall. Celebrating all year long being healthy enough.”

“Enjoy the outdoors more, be outside more. Fence in my yard so my dogs can run and get more exercise. Park the RV at a seasonal campground and go there more often than one day / weekend.”

“We are planning a big trip either the next year or the year after but much planning for this trip will be done in 2025.”

When it comes to travel, U.S. consumers are willing to spend on what they want. More than half plan to take a vacation in the new year, ready to experience the outside world more. Of these vacationers, 54% plan to travel out of state, and a whopping 20% will travel abroad, anxious to experience parts unknown. Planning those bucket-list trips takes time and resources – 11% will use a travel agent or service for help.

Which of the following is included in your travel plans?

items that are included in peoples travel plans

With all the social and online media and 24-hour news cycles, people want good entertainment of various kinds to help heal their souls and clear their minds. And just like with travel expenses, they are willing to pay for it, with going to the movies (44%) and attending a festival (36%) or concert (30%) being the most consistently popular ways to relax and have fun.

In the new year, I plan to visit a ___ at least once:

in the new year places people plan to visit
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Make The Most Out Of Your Year With Valpak

Understanding the priorities and desires of your target audience, their needs vs. wants, and what and how much they plan on spending is imperative in planning your marketing strategy. Despite higher prices in the stores and at the pump, people still want to travel, feel good and find a good deal. But they also want a fair price and a positive customer experience.

Whether shared direct mail, postcards, or display advertising, your local Valpak rep can help your business decide which channels are best for your needs and how to reach the right audience to get what you want out of advertising.