In this day and age, consumers tend to have an appetite for new brands, new products and new experiences, and therefore prefer to not see the same things over and over again. However, when it comes to seasonality, your sales can change. Here is why retailers should take advantage of this Winter season.
New Year’s Resolution
The most popular New Year’s resolution is healthy eating, although 65% of Americans feel that the New Year’s resolutions put extra pressure on the start of the new year. Many consumers also doubt that their resolutions will be successful. For that reason, food retailers have come up with solutions to help the consumers reach their goals, such as meal kits, curbside pick-up, and virtual nutrition services, with the demand reaching its peak in the beginning of the year.
The growing awareness among consumers on health is driving the health and wellness food market. In 2020, the global health and wellness food market was valued at 733.1 billion U.S. dollars and is projected to increase to one trillion U.S. dollars by 2026. The meal kit industry has also flourished since the pandemic. The expected worth of the industry in 2022 amounts to 11.6 billion U.S. dollars.
The rapid increase of cases due to COVID-19 has had a negative impact on the sport and tourism industry. However, the Winter Sport Equipment gained momentum in 2021 when the expected YOY growth in 2021 was expected to be 3,25%.This year, the market growth is expected to be at 4,41%, which amounts to 13,743 Million U.S. dollars.
The expected growth this year can most likely be connected to the 2022 Winter Olympics that is happening in Beijing, which will mark the 98 years of Winter Olympics. The game will begin on February 4th, which is why winter sports equipment retailers can expect a boom this February, as most watchers of the Winter Olympics either do these sports as hobbies or will get somewhat inspired to start after watching the games.
Ropeway transportation equipment manufacturer Poma has done business in China for 35 years, and its executives have told the Chinese news media Xinhua that the upcoming Winter Olympics is providing the emerging ski markets in China with a strong boost. European countries that have a mature snow sports market are able to benefit from this boost by being able to provide equipment and offering training which can go beyond the Olympics, says the executives.
The month of February brings another retail occasion which is Valentine's Day. Some emerging trends we can see are that consumers focus on selfcare, meaning that they choose to spend their money on gifts for themselves on Valentine’s Day. These gifts include activewear and loungewear, since most people are working from home and dress in loungewear and activewear most of the time. Many consumers also invest in a new pair of sneakers for themselves as many sneaker brands release Valentine’s Day edition sneakers.
Valentine’s Day is also an occasion to show your love and appreciation for your significant other. Consumers state that flowers, chocolates, flowers and underwear are their preferred gifts. The National Retail Federation reported that Amercans spent up to 21.8 billion U.S. dollars on Valentine’s Day last year and some of the favorite shopping destinations are department stores, discount stores, specialty stores and local/small businesses.
Seasonality is incredibly beneficial for retails, and Winter Olympics, New Years and Valentine’s Day are some occasions that can boost some retails, if they choose to take advantage of them. A great way to take advantage of the occasions is to have Pop Up stores, to showcase the limited edition products and/or to create brand awareness. Contact us to create your own Pop Up store this winter at [email protected]