Post-Recession Travelers More Value-Concious
We’ve become a nation of coupon-clippers, travel guru Peter Yesawich told an audience at the Wyoming Governor’s Hospitality and Tourism Conference. His firm does in-depth research nationwide for the travel industry.
Among their findings: 2012 will be about the same as last year. What's changing, he says, is the affordability of travel--leisure airfare is up 22% from last year, for example. Hotel rates have also gone up. “Consumers are embracing a new mantra: they're looking at every spending category to see where they can save,” Yesawich said.
An astounding three-fourths of the populace is now using coupons, his research shows. Local newspapers are even focusing on including coupons as a way to improve circulation, and its working.
“It’s ‘The New Frugal’--If you can buy it cheaper, its chicer,” he said. “Value is still in vogue. People don't necessarily want to buy the cheapest, they just don't want to overpay. The typical adult in America took four vacations last year, but they don’t have as much time as before. Email has added an hour to the typical workday.
- Flash selling will be a permanent part of marketing (selling trips or hotel space in a limited-time email).
- Speed vacations: hurry up and relax. Weekend trips. Half of vacations 4 nights or less.
- Radius of Effectiveness in Marketing: closer to home. Staycations; within 50 miles of home, its growing by 30% because of time poverty. Short-form trip is the one most likely to grow.
- 10% of travelers in America say they dream about coming to Wyoming. Yellowstone on top of dream vacations. Potential market of 65 million travelers.