Editor's note: This article appeared in the January 11, 2010, edition of Quirk's e-newsletter.
There appear to be signs the U.S. leisure travel industry is stabilizing. While two-thirds of Americans say their leisure travel activities will be the same in the next 12 months as it was in the past 12 months, the proportion of those who say they will travel more for leisure in the next 12 months compared to the past 12 months is slightly higher (19 percent) than those who say they will travel less (15 percent), but is it all talk and no action? According to research conducted in October 2009 from Ipsos Marketing, a Bellevue, Wash., research company, travelers do not appear to be in any hurry to finalize their purchases.
Overall, 70 percent have not yet purchased travel products they will need for their next trip. This feeling of flexibility is even more heightened for certain types of travelers and travel products and could lead to a crunch on product availability. "Visiting friends or relatives" (63 percent) and/or grabbing "weekend getaways" (53 percent) are among the most likely trips to be taken first by U.S. travelers in the next six months; and hotel is the most popular travel product purchased for both types of trips. Yet 80 percent of those planning to visit friends or relatives and 93 percent of those planning a weekend getaway have not yet purchased their needed hotel nights.
Whether they're booking or just talking about booking, more consumers feel travel is affordable (41 percent) compared to those who feel it isn't (32 percent). Their personal wallet also doesn't appear to be a significant barrier to future travel intentions with, 47 percent saying that - based solely on their personal finances - they are somewhat or very able to travel. Two-thirds of consumers also say that they have the time availability to travel. So with affordability and flexibility converging, there's a possible sweet spot for some travel suppliers and destinations, says Mary Kaye O'Brien, vice president of travel for Ipsos Marketing.
Of the more than 15 types of trips that Ipsos tracks, others that show stronger signs of consumer travel consideration over the next six months include beach or sunny destinations (30 percent very/somewhat likely); a family trip with the kids (28 percent very/somewhat likely); romantic getaways (26 percent); and major vacations within the U.S. (26 percent). Trips that are least likely to be taken over the next six months tend to be seasonally- and niche-oriented, including ski (85 percent not very/not at all likely); golf (84 percent not very/not at all likely); and major international vacations (80 percent not very/not at all likely).