Consumers Weigh Travel Industry Uncertainty With Growing Desire For Adventure
Stay-at-home orders and pervasive consumer fears have devastated the travel industry, which, after setting profit records a few months ago, has been reporting losses around $18 billion a week since March. Preparing for recovery begins with measuring the evolution of consumer motivation, attitude, and behavior. While record-breaking unemployment rates and anxiety about a fragile economy signal evaporating discretionary income and reduced spending on leisure travel, consumers also acknowledge that pent-up energy is fueling their desire for adventure. In this week’s consumer insight spotlight, I highlight our latest data that informs how consumers navigate this tension.
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