Business Opportunities Abound With Travel Trends

Rhea-AI Summary

BIGtoken® Inc. has unveiled insights from its summer travel study, revealing a strong desire for travel among Americans post-pandemic. A survey of 5,839 respondents showed that 44% plan to travel this summer, with the majority preferring road trips. Key motivations include visiting family and friends (35%) and seeking new experiences (20%). Concerns about travel include costs, particularly rising gas prices. The study highlights consumer spending trends, indicating opportunities for brands in the travel sector to cater to budget-conscious travelers.

Positive

• 44% of respondents plan to travel this summer, indicating strong consumer interest in travel.
• Majority prefer road trips, suggesting increased spending on fuel and related services.

Negative

• Top concerns include high travel costs and the rising price of gas, which may deter travelers.
• 30% of potential travelers are not ready to travel by plane this year.

BIGtoken® Inc., the first privacy-focused, opt-in data marketplace where people own and monetize their data, has released insights on its summer travel study.

After more than a year of staying at home due to the pandemic, Americans are eager to travel again. Some are comfortable flying, but the vast majority prefer road trips. This means increased spending on everything from airfare to gas, hospitality and food, apparel, CPG, entertainment, and gifts.

Through a survey of 5,839 users who are 18 or older from June 2–12, 2021, BIGtoken asked, “Are you planning to travel over the next few months?” Users were then asked a series of questions if they answered in the affirmative.

Some data:

• 44% are planning to travel this summer; 36% are not, and 19% are still unsure.
• Top reasons for travel include seeing family/friends (35%), seeing new sights and having new experiences (20%), and shaking off cabin fever (15%).
• Nearly 8 in 10 will travel by car, with 6 in 10 choosing to travel more than 100 miles from home.
• Of those who plan to travel by plane, 4 out of 10 are ready to travel now and 3 out of 10 won’t be ready to travel this year.
• Travelers need new wardrobes (44%) and will be working while traveling (26%)
• The top concerns keeping people from traveling now include the cost and COVID-19; the top concern among travelers is the price of gas.

“BIGtoken is constantly collecting information from users who voluntarily interact with us,” BIGtoken President George Stella said. “We have the ability to glean insights from their response and share them with our clients. For example, our summer travel study indicates consumers will be watching their wallets, so affordable meals, snacks, entertainment, and lodging will be smart offers. Or opportunities for non-traveling families looking for safe and fun local alternatives.”

The BIGtoken Summer Travel study contains many additional data points and insights designed to help brands the travel and travel-adjacent industries. Read more and find infographics at bigtoken.com/

About BIGtoken

BIGtoken® believes that data privacy is a human right. BIGtoken is the first privacy focused, opt-in data marketplace where people own and monetize their data. Through a transparent platform and consumer reward system, BIGtoken offers users choice, transparency, and compensation for their anonymized data. Participating consumers earn rewards and advertisers and media companies get access to insights from compliant first-party data for marketing and media activation. For more information on BIGtoken, visit bigtoken.com.

View the full study: https://research.bigtoken.com/resources/reports/bigtokens-2021-summer-travel-insights

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005874/en/

FAQ

What are the findings of the BIGtoken summer travel study?

The study found that 44% of respondents plan to travel this summer, with road trips being the preferred choice.

How does the summer travel study impact consumer spending?

The study indicates increased spending on travel-related expenses, especially for affordable options due to budget concerns.

What are the main concerns for travelers according to the BIGtoken study?

The primary concerns include the cost of travel and rising gas prices.

How many people participated in the BIGtoken travel study?

The study surveyed 5,839 users aged 18 or older.

What is BIGtoken's role in data privacy?

BIGtoken provides a platform where users can own and monetize their data, emphasizing privacy and consumer choice.