The current state:
Summer is traditionally a peak travel season, and this year is no exception. A significant 83% of consumers plan to travel this summer, likely driven by pent-up demand from previous COVID-19 restrictions and a general desire to enjoy life to the fullest while they can.
How we’re feeling right now:
- As the summer season quickly approaches, we've captured a snapshot of travel plans and sentiments that highlight significant trends affecting both consumers and the travel industry. Here’s what our latest Consumer Pulse reveals about this summer’s travel behaviors and preferences:
77% of respondents typically travel during the summer, showing consistent enthusiasm across different age groups.
Financial constraints remain a concern for those who are choosing not to travel, with 68% citing a lack of funds due to inflation as a significant barrier to travel plans.
Despite economic pressures, a striking 56% plan to travel more than usual, indicating a strong market potential for targeted travel offerings and promotions.
Why it matters:
The data suggests a robust season for the travel industry, yet it's not without its challenges. With 68% of non-travelers citing inflation and 61% pointing to high costs as deterrents, there's a clear opportunity for businesses to offer value-driven solutions and promotions that address these financial concerns. Additionally, the variance in travel intent among different demographics provides an excellent opportunity for personalized marketing strategies.
Do you want to take the Pulse of your customers? Our Insights team will partner with you to design a study to help you better understand your customers and their problems, and how your brand can win at retail.
To get additional insight into what this means for brands and retailers, read the entire study.
