#Trending This Week - The Arctic Circle, Aspiring Luxury Travelers, Personalization Is The Future, Traveler Archetypes, And Going Solo
Issue 199 • June 4, 2024
There’s a brand-new McKinsey Report out about the state of the travel industry and it has some interesting findings. But first, would you believe the NEXT HOT TRAVEL DESTINATION this winter is going to be the Arctic Circle? We’re learning more about the luxury travel scene and one key cohort of luxury travelers is being called “ASPIRING LUXURY TRAVELERS.” Consumers no longer want a “one-size-fits-all” vacation. If you want to stand out and continue to grow your business, PERSONALIZATION is key. Marketers may be interested to learn there are a number of new TRAVELER ARCHETYPES out there including the sun and beach travelers who rarely venture out and spend quite frugally. And after years of SOLO TRAVELERS being penalized with single supplements, they are heading out this year in record numbers and planning to spend big. Check it all out in our three-minute read below.
The Arctic Circle Is Hot
What’s the next “it” destination going to be this coming winter? If you follow where the airlines are adding more service, then our guess would be the Arctic Circle. In recent weeks, major airlines from across the continent have announced a flurry of routes to destinations deep within the Arctic Circle — many routes being operated for the very first time. Climate change and the lack of reliable cold weather for winter ski destinations as well as the desire for people to travel off the beaten path are considered the top factors. Read more in Skift here.
Meet The “Aspiring Luxury Traveler”
McKinsey just released its “The State of Tourism and Hospitality 2024” report and one of the key findings is that the profile of the global luxury traveler is changing. The report highlights “a large and expanding base of aspiring luxury travelers whose net worths are significantly leaner—between $100,000 and $1 million.” Last year, 35% of spending in the segment was powered by these “aspiring luxury” travelers, who collectively spent $84 billion on luxury travel — more than any other cohort. One key thing for us all to remember is believing that luxury travelers are old is simply no longer the case. Read more in Forbes here.
Personalization In Travel Needs To Be A Standard
There is so much to unpack in the McKinsey Report that we’ve still talking about it. One key element is the fact that while consumers are traveling — even in somewhat difficult economic times — they want to do it on their own terms. Travelers are no longer content with a “one-size-fits-all” approach. Industry players who fail to articulate target customer segments and adapt their offerings accordingly risk getting left behind. Read more in Hotel Dive here.
New Traveler Archetypes Are Emerging
There are seven new traveler archetypes emerging. As marketers we need to pay attention to them to help us secure their hard-earned travel dollars. These include the “sun and beach travelers” who rarely travel and spend frugally, the “culture and authenticity seekers” who are active and high-budget, “strategic spenders” who selectively splurge on carefully curated experiences, and “trend-conscious jet setters” who turn to friends and family and then social media when scouting destinations. To learn more about each of these and the other archetypes, download the full McKinsey report here.
Are You Ready To Welcome The Solo Traveler?
There is an incredible boom in solo travel, with a recent report noting 42% of travelers plan to go solo this year. These solitary jetsetters are sparing no expense, with 53% budgeting more than $3,000 for their next vacation, and another 39% allocating between $1,000 and $3,000 for their getaways. Are you poised to take advantage of the solo travel market? Read more in TravelAge West here.
How Can You Leverage These Trends?
At JC Communications, we are crazy about trendspotting. We’ve got our finger on the pulse of pop culture and what’s trending in hospitality, food and beverage, luxury, leisure, lifestyle, and sustainability. We keep a close eye on what’s happening and work to pitch our clients to the media to demonstrate how what our clients offer, either creates, leads, or fits into a notable trend — and the media love it. If you would like to find out more about how we can leverage our trendspotting for your brand, please to reach out to Jane Coloccia at Jane@JCCommunicationsllc.com.