Episode 2- Global Consumer Trends: Opportunities for Travel

Episode 2- Global Consumer Trends: Opportunities for Travel

Listen now on iTunes
Listen now on Spotify

Direct from the shop floor on the first day of the 3 day World Travel Market event in London’s Excel, with Global Consumer Trends; Opportunities for the Travel with Paul Davies and Mintel Research. We learn about the 6 key consumer trends affecting the travel industry right now and how brands can adapt and take advantage of these. An exciting start to WTM 2018.

On this episode we cover:

-The six consumer trends having the biggest Impact on the travel industry

-One constant theme – rising demand for experiences – the experience economy. Doing things that are different from the norm

-Young consumers wanting ‘more’ from a trip away -Experience is all – shift from owning goods to owning experiences

-The digital dilemma – loving tech but becoming more aware of the need to escape

-Make it Mine – the rising demands for personalised products and services -50% UK consumers would rather spend money on luxury holidays rather than luxury goods

– The huge rise and demand for experiences compared to product dominant areas which only see single-digit growth -the holiday market continues to prosper -consumers demanding experiences like never had before

– Trying something new, a bit unconventional -Social media – Instagram playing a bigger part in determining the choice of holiday

– People going to quirkier destinations -Brands already tapping into this

– Culture Trip – a travel blogging website launching online travel agency

-Looking to millennials to try more unusual activities -Airbnb and other accommodation tapping into this demand -Encouraging people to book activities via the same platform

-Moving away from museums and cathedrals to more secret locations

-Going against the norm in terms of where they stay – looking for nature lodges, traditional Japanese inns, yurts etc –

Transformative travel – the rise of this

-People looking to go away to discover a new side to themselves, a new connection to nature, to travel more responsibly, to volunteer

-50% of US travels saying they want to travel like a local less touristy landmarks -Fly, flop and shop

– Hotels partnering with local retail and leisure centres

– Consumers prioritising experiences over products

-Brands that offer unconventional activities

-Experience doesn’t have to be too radical – it’s not all yoga and yurts – just getting them out of the hotel for the day

-The digital dilemma -On one hand consumers are attached to their smartphones 24/7 but on the flip side more and more consumers are becoming more aware of the dangers of too much social media

-The positive side of digital – Consumers really recognising the emotional benefits of social

– bring them closer to others

-The rise of gamification in travel use augmented reality to explore cities and destinations

-Travel helping with the more mundane side of travel – apps to guide through airports

-Thomas Cook’s end of towel wars –reserving sunbeds -But also – the rise of the analogue experience.

-People escaping technology altogether.

-Consumers are recognising the desire to disconnect temporarily

-Growing awareness of detrimental of overuse of technology

-Apple screen time launched -58% of UK consumers say they like to get away from technology on holiday

-Live Like a Nomad

-Opportunities for travel brands

-Mobile apps that make travel easier

-Promoting more analogue experiences

-Instead of banning tech – help consumers

-Make it Nice – embracing customisation

-The rise of personalised products and services

-Privacy-conscious – 52% of UK travellers are not confident in knowing what info they’re sharing online but at the same time want personalised products and services

-How the hotel sector is embracing customisation

– Thomas Cook new tailor-made service

– Luxury travel brands play on tailor-made

– Kuoni at the forefront of this

Tagged .

World Travel Market brings the travel industry together through world leading events, content and digital tools, that make it easier for you to find personal and business opportunities and do more effective business.

Leave a Comment

Your email address will not be published. Required fields are marked *