How Millennials are Shaping the Travel Industry
August 22, 2018
The ‘why not’ attitude is seeing an increase in international tourism, which has more than doubled in 20 years, driven largely by the millennial generation. Now entering their prime spending years, millennials are opting for life-changing experiences over the usual landmark purchases such as mortgages and cars.While millennials continue to strive to be unique individuals, gaining wider cultural experiences through world exploration, 89% plan their travels based upon that posted by their peers. As the first digitally native generation, sharing online has become an integral and vital part of their lives.
Consumers are bombarded with travel inspiration and online recommendations, coming from peers to influencers, leaving them overcome with a plethora of aspirational destinations and activities. While they may be inspired by their peers, no two customer journeys are the same. Furthermore, with holiday information a few clicks and taps away (83% of holidays are now booked online) consumers have never been more in control.
Harvesting their digital footprint, PROFILE transforms insights, such as what is top of their bucket list and places their friends have recently visited and recommend, into usable personalised campaign content. A tactic over ⅔ of Accenture respondents want from travel brands. Brands acting mobile-first, leveraging themselves into the new personalised era in this way will be at the forefront of the industry.
The next step for the industry is optimising this online data for use in highly personalised marketing strategies to provide the same convenient and seamless experience of that found in the retail industry that is now simply expected by consumers. 75% of Accenture respondents admitted they are more likely to buy from companies if recommendations are relevant and personalised, while less than half think that current efforts are good enough.
Speak to one of our data experts now to see how PROFILE can improve your personalisation efforts, ultimately resulting in boosting your revenue.
