A new survey has found that 36% of people expect to increase their spending on food in 2025 compared to 2024, despite having money saving as their top New Year’s resolution.
The study by media firm Clear Channel UK found that Gen Z (41%) and younger Millennials (27%) expect to increase their spending on clothing more than older age groups, while the latter plan to spend more money on food.
When asked about openness to new brands, Gen Z shopping habits suggested that they are more likely to step out of their comfort zone and experiment with new products than older generations.
One in five (21%) of 18-24-year-olds and nearly a quarter of 25-34-year-olds (24%) claim to want to try new brands. That figure is almost three times higher than those aged 45 and over.
Food (47%), clothing (35%), household items (31%), toiletries/cosmetics (28%) and drinks (24%) were revealed as the top product categories people are looking to try from a different brand.
When it comes to main motivators for trying new products, the most popular responses were: when recommended by a friend (52%), when being exposed to advertising (23%), around specific occasions of the year (22%), the beginning of the year (20%) and when the product goes viral (18%).
Other key findings from the study include millennials and younger people – those aged 18-24 (27%), 25-34 (31%), and 35-44 (25%) – are more inclined to try a new brand after being repeatedly exposed to advertising. The top reasons for trying new products were affordability, better product reviews, superior quality, brand reputation and dissatisfaction with a current product. Meanwhile, men (19%) were found to be more likely to try new brands than women (10%).
Ben Hope, Marketing Director at Clear Channel, said: “Our study shows that while the younger generations are prioritising money saving for 2025, they are also more open to trying new brands after becoming aware through advertising – particularly Gen Z and Millennials. This suggests they are a perfect target for marketers who plan to expand their reach.”
NAM Implications:
- So much for the target audience.
- The key is reaching and converting them…
- …with spot-on marketing, delivered in the aisle.
- This looks like a job for Super Retail Media…
