BELLEVUE, Wash., Jan. 3, 2018 /PRNewswire/ -- Today
Expedia.com® released the results of a multi-generational travel
study, exploring consumer behavior and travel preferences of
American adults from Generation Z (age 18-22) to Baby Boomers (age
55-65).1 Results
illustrate that people are shifting away from a society of stuff
(products like clothes, electronics, jewelry), to a society of
experiences, and are specifically saving for travel.
"Insights into younger generations preferences are as good as a
crystal ball, and currently their trends are pointing towards a
great future for the travel space," said Sarah Gavin, Vice President of Expedia, Inc.
Global Communications. "Knowing what travelers of all ages
prioritize is important, but the younger generations' growing love
for travel is what keeps us going as we prioritize customer
centricity, offering the best deals and the convenience of booking
everything at once, all in one place."
Experiences Over Possessions
Social media is influencing consumer purchasing decisions, with 36%
of Gen-Z saying they've chosen a travel destination because they
saw it on social media. However, priorities are shifting from
posting a new handbag to live streaming a ziplining experience.
- 74% of all US respondents said they would prioritize spending
spare change on experiences rather than products, especially
millennials, with 65% disclosing that they are currently saving
money to spend specifically on travel.
- Nearly 20% of Gen-Z respondents said they have stayed at a
specific hotel or destination in order to score a positive response
from followers on posts on their own social media channels.
- Nearly half of Millennials said they would sell their clothes
or furniture to travel more.
Overwhelmingly, travelers prefer to book through online
travel agencies
With technology impacting the everyday
lives of American consumers, the way Americans prefer to book
travel is shifting towards convenience versus brand loyalty.
- Overwhelmingly (80%), each generation studied declared that
they preferred booking all travel and hotel accommodations on one
site, versus booking each travel item separately.
- 87% of Gen-Z respondents said they find booking all travel
components in one place helpful and most (55%) would consider
booking entirely through an OTA, with no comparison shopping when
asked, "Would you book an entire trip through an online travel
agency without visiting any other sites?"
Younger Generations are postponing breakups for the
beach
The youngest generations surveyed, Gen-Z and
Millennials (age 22-35) focus their purchasing decisions on travel,
with 65% currently saving for a trip this year. Younger generations
tend to prioritize impressing their peers, along with seeking out
adventure and disconnecting for relaxation.
- Travel-obsessed millennials are also extremely independent,
with one in every four millennials having traveled alone on a
leisure trip in the past year.
- 71% of Gen-Z respondents said they would get a part-time job
just to save up for a leisure trip.
- 11% have actually postponed a breakup due to a previously
planned trip with their partner.
The shift in consumer purchasing intent from products to
experiences signals a promising road ahead for the travel industry.
Furthermore, younger travelers trust online travel agencies to have
a breadth of choice, technological simplicity and savings that help
satisfy their increasing appetite for travel. This proves that the
American thirst for travel and adventure isn't subsiding anytime
soon, especially if the younger generations have anything to say
about it.
Access the full report HERE.
1Survey Methodology
This study was conducted on behalf of Expedia by The Center for
Generational Kinetics, a boutique research and consultancy firm.
Expedia surveyed 1,254 U.S. respondents ages 18-65 from
August 8 – 17, 2017.
About Expedia.com
Expedia.com® is one of the world's
largest full service travel sites, helping millions of travelers
per month easily plan and book travel. Expedia.com
(https://www.expedia.com/, 1-800-EXPEDIA) aims to provide the
latest technology and the widest selection of top vacation
destinations, affordable airfare, hotel deals, car rentals,
destination weddings, cruise deals and in-destination activities,
attractions, services and travel apps.
© 2018 Expedia, Inc. All rights reserved. Expedia and the
Airplane logo are either trademarks or registered trademarks of
Expedia, Inc. in the U.S. and/or other countries. Other product and
company names mentioned herein may be the property of their
respective owners CST # 2029030-50.
Visit our web site https://www.expedia.com/ or use our mobile
app to book cheap flights and hotels.
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SOURCE Expedia.com