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The Very Real Value of a Busy Summer Travel Season

Summer Spending Soars
Posted on:

Though inflation remains a concern as of mid-2023, reports indicate that Americans are still willing to spend money on the things that matter to them. One of those things is travel.

Like other aspects of life, travel costs more now than it did before 2020. In fact, the overall price of travel is up 16% from this time in 20191.

However, those same costs are down from where they were a year or two ago. The consumer price index shows that airfares are down 13.4% from this time in 2022, while car-rental rates are down by a similar 12.4%, having peaked in 20212.

Meanwhile, with the Covid era being largely a thing of the past, travelers and vacationers are experiencing the joy of a full year without the health-related restrictions that may have put a damper on their plans in 2020-22.

Perhaps then it is no surprise that 85% of U.S. adults have plans to travel this summer3. And while many are extra conscious about saving money on accommodations and flights, those accommodations and flights are still being booked. Money is being spent! Now let’s consider who benefits.

Airport retail spaces generate more than 2 billion impressions annually, with prospective customer demographics evenly split between male and female travelers (many of whom also have families in tow).

The Compass perspective

The Compass Specialty team is dedicated to finding and optimizing shelf space for our clients, often through retail outlets that aren’t necessarily obvious. One of these is airport stores and kiosks.

And with international travel soaring—Allianz Partners projects a 55% increase in the number of Americans traveling to Europe4—airports are a place where brands stand to make big gains this summer and in the months to come.

Customer Development Director Ronnie Jean Burnham notes that airport retail spaces generate more than 2 billion impressions annually, with prospective customer demographics evenly split between male and female travelers (many of whom also have families in tow).

“It is the place to gain exposure to your products,” Burnham says.

Her optimistic take mirrors recent reporting by Airport Experience News. It seems that airports across the country are seeing a significant influx of new concessions, several of which offer healthier meal options—for example, Sambazon Açaí Bowls—and homegrown retail products5.

“I do believe the more availability and choices, the easier it will be to make a better choice,” Burnham adds.

It’s a trend that not only challenges the stereotype of unhealthy airport food purchases, but also points to a different kind of health—that of airlines and the travel industry as a whole.

So, as the summer continues, expect more people to hit the airways and highways… and more opportunities for the brands whose products help make these journeys a little easier, a little more unique, and a little more fun.

 

Sources

  1. Ana Teresa Solá, Here’s how Americans are booking their summer trips this year despite inflation, CNBC (Jun 22, 2023). https://www.cnbc.com/2023/06/22/americans-are-booking-their-summer-trips-this-year-despite-inflation.html2.
  2. Solá.
  3. Solá.
  4. Airport Experience News, AX Newsflash 06.23.23.
  5. 5.AX.

Contributors

Sam Paciello

Art Director

ariel

ERIC MILLER

Copywriter

R.J. Burnham

Director, Customer Development

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Compass Marketing can help you discover opportunities for your brand. Our account managers and eCommerce experts use a holistic approach based on data and insights to help guide brands to success. If you would like to learn more, please reach out to info@compassmarketinginc.net! We are always happy to help and would love to learn more about you and your brand.

ABOUT COMPASS MARKETING

We are dedicated to making brands more valuable by combining the very best in insights and experiences with unmatched human interaction. Our team of sales, marketing, and digital experts is dedicated to growing our clients’ market share and building brand equity. We combine art and science—pairing the personal expertise of our team with proprietary technology—to help brands grow quickly and efficiently. As an Amazon Ads partner, we can help brands realize significant growth on one of the world’s largest eCommerce retailers.

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