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New Year’s Resolutions: You probably won’t keep them, but many companies profit from your effort

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Almost everyone sets new year’s resolutions, yet only a few driven souls are still in hot pursuit of them come February.

Let’s face it, setting new year’s resolutions is a mug’s game. The smart money is in servicing these resolutions, for they are as recession-proof as gambling and religion.

Fuelled by our over-indulgence during the festive season, the fitness and health sector is the perennial commercial beneficiary of the most common new year’s resolution: getting into shape.

According to business information analysts IBISWorld, health and fitness-related resolutions will translate into January takings of $111.8 million for the swelling weight loss industry and $93 million for gyms and fitness clubs. IBISWorld forecasts that weight loss centres will post five percent growth in 2010 to reach revenue of $745.6 million, with gym and fitness centres growing by 2.4 percent to be worth $929.6 million.

Closely associated with the resolution to shed a few of last year’s pounds is the desire to quit smoking/drinking. Great news for supermarkets and pharmacies selling nicotine patches and gum. Also good news for fast food retailers, whose fatty/salty/sugary fare is a popular replacement for missing toxins.

Other sectors to benefit from our ephemeral new year resolutions include:

  • Charities
  • Short course and vocational education providers
  • Recruitment agencies and job-listing websites
  • Airlines and accommodation providers (thanks to the recovering economy and strong Aussie dollar)
  • Hardware and material retailing industries (though domestic DIY enthusiasm is expected to be weaker than during the crescendo of frugality prevalent in January 2009)

Photo: Sasha W

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