Travel in the Post-COVID Era: Tracking Emerging Trends Impacting the Industry's Rebound

While younger audiences yearn for freedom to travel older audiences will have the protection and means in the shorttermYounger audiences showed an initial willingness to travelTravel during the summer of 2020 was no doubt driven by young cohorts with less risk aversion less health risks and a greater likelihood to prioritize exploration As travel brands plan their recovery strategies then they may be considering how they can appeal to younger travelersHowever older travelers may have the means to travel firstStudies indicate that younger generations have suffered the greatest financial impact as well as uncertain future job prospects putting older generations in better financial health In addition vaccination roll outs prioritize older vulnerable audiences further impacting travel demographics In the UK for example TUI announced 50 of bookings since last summer came from over 50s In markets with slower vaccination roll outs this may be more pronouncedThis means travel brands shouldn39t rely on younger audiences to drive recovery aloneBrands should consider their core proposition and where both short and longterm demand is likely to come from If your brand traditionally wins with Gen X and Baby Boomers pivoting heavily towards younger travelers is unlikely the answerThe takeaway for marketers It has never been more important to look beyond static demographic audiences Instead travel brands should have an empathetic understanding of individual traveler motivations and the ability to harness this shifting demand in real timeTravelers are dreaming of bucket list destinations However connection with friends and family comes firstPeople haven39t stopped planning their dream tripsIn fact AMEX39s travel report indicates that 76 of respondents are actively creating wish lists ahead of travel resuming Those with the funds are also looking to indulge with 61 planning to spend more than usual on a trip and many reports citing the exploration new or preferred destinations amongst the top motivations for travelHowever time with loved ones comes firstThe reality is that international travel is unlikely to be back in full swing in 2021 This along with extended time away from loved ones means that before experiencing far flung adventures people are likely to prioritize connecting with friends and family with a relaxed and safe tripThis means travel brands should consider a phased approach and harness advocacy to motivate travelersIn the short term focus on domestic trips with loved ones pushing group accommodation and road trips to those showing an interest in travel To kickstart international travel repeat visitors and VRF visiting friends and relatives will be key Brands should consider how they harness the experiences of these initial travelers to instill wider confidence through advocacyFor the longer term continued use of aspirational channels and messaging remains crucial to ensure travel in particular your brand is at the top of consumers39 priorities when the time is rightWhile some can39t wait to get back to indulgent experiences for others it will be a cautious reentryOpen space and sustainable travel are front of mind for travelersAfter so long in isolation we have become accustomed to open space and keeping distanced from crowds with over 60 of people globally saying they are quotavoiding crowded public spacesquot according to OMD39s proprietary Fast Start Dashboard This is reflected in the needs of travelers with Tripadvisor reporting a significant rise in rural and naturefocused trips searches The pandemic also shone a spotlight on the negative sideeffects of tourism driving a renewed interest in sustainable travel solutions such as eco lodgingsYet a yearning for culture means there is still a place for city breaksWhile there is a desire for sustainable travel not everyone is ready to sacrifice indulgent and cultural travel experiences Recent reports suggest that culinary travel is still one of the top requirements for travelers giving hope for urban tourist hotspots around the worldTo succeed travel brands will need to work hard to provide new and exciting experiences without compromising on sustainability credentialsReimagining wellknown locations by highlighting lesserknown aspects allowing travelers to play their part in reducing the impact of that tourism will be fundamental As highlighted in OMDs Travel Revolution embracing AI developments will allow travel brands to innovate and gain distinction while helping more travelers get off the beaten track Tech that empowers and diversifies consumer choice will grow in importance with a likelihood of consumers taking less trips but doing so for longer periods impacting the construct of the quotcity breakquot as we previously knew itExternal Sources The International Labour Organization BBC News AMEX Travel Report Airbnb Tripadvisor COVID19 WhitepaperClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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Travel in the Post-COVID Era: Tracking Emerging Trends Impacting the Industry's Rebound

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Carly Whiteford

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Travel in the Post-COVID Era: Tracking Emerging Trends Impacting the Industry's Rebound

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