Bread Financial Holdings Inc.

09/17/2024 | Press release | Distributed by Public on 09/18/2024 09:56

Fall travel look ahead: Avoiding the heat and crowds

Fall travelers are traveling off-peak to get a bargain

Nearly half (43%) of fall travelers will spend between $1,000 - $5,000 on their trip, compared to 47% of summer travelers spending the same. Known as "shoulder season" for mild weather and cheaper prices, 35%said they are traveling in the fall to avoid the heat and 30%said it was to avoid peak summer prices. That said, some will be using their fall trips to splurge: 12%will spend over $10,000 on their trip, compared to 8%who planned to spend the same during their summer travels.

Rewards connect emotionally Travelers not sold on artificial intelligence (AI)
Consumers are evenly split on whether they would let AI build a travel itinerary for them, with 40%saying yes, 41%saying no, and 19%saying they were unsure. Younger travelers were more open to a digital assist.

Open to using AI to build travel itineraries

Big spenders are most likely to be younger
Nearly half (43%) of fall travelers expect to spend between $1,000 and $5,000 on their trips. Millennials and Gen Z are most likely to spend more: 3 in 10will spend more than $5,000 on their trip.

Spending more than $5,000 on vacation

Nine in 10 shopping to prepare for their trip
To get ready for their trip, 88% of fall vacationers are going shopping. Apparel (61%), footwear (43%) and beauty/ personal care products (39%) are top purchase plans, led by millennials.

Pre-vacation shopping plans

Key takeaway: all travelers are looking for something better
Across all generations, 81%of travelers chose the fall for a better experience, including better weather, fewer crowds, better prices and more. Brands can tap into these feelings using messaging and imagery that affirms travelers' sound choices, and by highlighting products and services that offer the best value.

Source: Bread Financial proprietary study, Fall Travel Look Ahead, August 2024.