It is no shock that budget plays a major role for Millennial travel decisions, but even as student levels remain high and home purchases are increasingly delayed, members of that age set believe travel spend is an easier pill to swallow, according to new research from Expedia Group Media Solutions.
- Budget plays a major role for Millennial travel decisions, according to new research from Expedia Group Media Solutions;
- The research highlights that travel deals and informative content on destinations are important for around nine out of ten Millennial travellers;
- The findings show roughly 57% of Millennials prefer booking through online travel agencies (OTAs), followed by hotel sites at 36% and airlines with a 32% share.
“Budget and deals are important for Millennial, and this preference carries over into the types of content they find compelling,” the Group’s report stated. Roughly 91% of Millennials look for content that features deals before making a travel decision, followed by 88% who report informative content from destinations as influential.
And even as rising home prices and rising student debt levels cause some Millennials to delay purchasing homes, “a relaxing trip on a pristine beach that may cost [USD]1500/person is a much easier pill to swallow. With this type of purchase, Millennials get their experience and have something to show for it”, the Group explained in its findings.
Roughly 57% of Millennials prefer booking through online travel agencies (OTAs), followed by hotel sites at 36% and airlines with a 32% share. About 52% of Millennials also use OTAs to plan their online travel.
Even as it seems Facebook draws an older age set, Expedia’s travel research shows 71% of Millennials say Facebook alone is influential in their decision making process when booking a trip. Instagram was second with a 45% share and Twitter’s third place share was 33%.
Given social media’s steady tailwind and near instantaneous communication ability, coupled with people turning to friends and family for travel inspiration via social media, it is “easy to see why any marketing campaign needs a social media strategy to be effective”, the Group concluded.