As we enter 2023 and people return from Christmas holidays, inevitably thoughts for many Brits have turned to New Year’s resolutions, fitness, and travel. Spiking sales in these categories are an annual trend that sellers will be keenly aware of, but retailers should be mindful of the particular context for this year. As we reported in December, this winter will be challenging for many with cost of living concerns and an energy crisis prompting 58% of consumers surveyed to report that they will be watching their spend carefully.
Businesses looking to get a head start in 2023 will need to tap into the trends that matter to their potential shoppers, so let’s take a look at what those trends are likely to be.
Working out at home
One of the shifts that emerged during the pandemic was a rise in Brits exercising in their own houses rather than at gyms, with sales of home gym equipment rising sharply during the first half of 2020. This has proven to be more than a temporary spike, as we reported previously on this blog. Even after lockdowns had lifted, a third of the customers we surveyed reported they planned on working out at home.
Retailers who are looking to reach fitness enthusiasts should consider the appeal of things like foldable equipment, and flexible but simple products such as dumbbells. Many at-home workouts incorporate this type of equipment to mix up tried and tested exercise routines, and having fewer products used in more imaginative ways can help to avoid at-home clutter.
Another trend that is on the rise across all sectors, not just fitness, is the shift toward pre-owned. Research we conducted last year showed that a fifth of Brits surveyed (19%) reported that shopping as sustainably as possible was really important to them, but it’s not just about being mindful of environmental factors.
In the context of the cost of living increases and the high energy bills facing households across the UK, second-hand offers a great way to get even better value. Our surveys in Q4 of last year found that a fifth of respondents are buying more second-hand items specifically to cut their spending.
For those looking to engage with customers who are concerned with trying to find the best value, considering the pre-owned market can be a very powerful opportunity.
Tech on the rise
2023 is already shaping up to be a big year for fitness tech, with recent research suggesting that 94% of respondents trusted smart technology over traditional measurement methods for monitoring exercise. It isn’t just traditional wearables like smart watches and heart monitors that are helping people to achieve their fitness goals this year, however.
Another area influenced heavily by tech is smart fitness equipment like Peloton and Zwift bikes, as well as home fitness apps that allow people to access workouts through social apps. Workouts linked to online participation and social leaderboards have been around for a while now, and are becoming more and more established amongst fitness enthusiasts.
Linked with the rise of home workouts, virtual reality headsets are also seeing increasing traction amongst tech-savvy fitness enthusiasts as a great way to ‘gamify’ workouts. Big players in the tech space have already invested in virtual and augmented reality solutions, and rumours of a potential new headset from Apple to come later in 2023 will only fuel the adoption of these innovative products.
There’s no doubt that this is a key retail period for sellers looking to capitalise on Brits’ enthusiasm for fitness in the new year. Those who want to make the most of this opportunity should be conscious of the trends we’ve discussed here. Want to make your eBay fitness listings stand out? Check out our Promoted Listings portfolio today.