Expedia has unveiled research that gives insight to Millennial generation travel trends. The report, conducted by global consumer trends and insight group Future Foundation across eight countries: Australia, Brazil, China, Germany, France, South Korea, the UK and USA – highlights what inspires Millennials to travel, what types of travel experiences they want and what they expect from travel brands.
Gary Morrison, Senior Vice President, Brand Expedia Retail, launched the report in his opening keynote at the Millennial 20/20 Summit in London. Expedia’s Millennial Traveller Report can be downloaded at: http://futurefoundation.net/expedia
The report reinforces that Millennials, having grown up with the world at their fingertips through the Internet and social media, have an inherent passion for travel. Other key Millennial travel trends include:
- Travel is Important – Millennials value experiences over possessions; they are delaying marriage and buying a house, but want to invest in travel
- Authenticity v Social Standing – Millennials value authentic travel experiences, but these experiences need to be recognised by their network, otherwise it loses its value
- Inspiration from Everywhere – Millennials receive travel inspiration from friends, brands and other sources, and they trust fellow consumers over industry sources more than non-Millennials
- Personal Data = Personalisation – Millennials are prepared to share their information in order to receive the personalisation they demand
- Risk Averse – Millennials want to limit risk as much as possible and make sure their travel plans have been verified by a trusted source
- Technology Should Make It Easy – Millennials want to use new technology such as virtual reality to enhance their travel experience, and they have a product expectation for things like split payment and instant concierging
“Millennials are entering their prime spending years, and as our Millennial Traveller Report shows, they see value in investing in travel experiences over other traditional life purchases. Through social media, Millennials have grown up with deeper connections to the world than previous generations, and there is a strong desire to enrich their lives through travel,” said Gary Morrison.
“As the travel industry evolves to meet the demands of the Millennial traveller, our report reinforces that above all else Millennials expect personalisation from their travel brands. Here at Expedia, we see ourselves as a technology company in the business of travel, and we leverage our powerful data and insights to deliver a better, personalised, customer experience. The next big thing in travel will be the better use of information to make travel more personal and predictive, and Millennials will be the driving force demanding that the travel industry deliver on this promise.”
Expedia’s Millennial Traveller Report in more detail:
Authenticity v Social Standing:
- 2 in 3 Millennials state that they desire authentic holiday experiences above all else when travelling.
- 31% of Millennials feel that having an authentic experience and having people comment on their photos are equally as important, compared to 24% of non-Millennials.
- 1 in 4 Millennials admit that it is important for people to comment on the holiday photos they post on social media, rising to almost 1 in 2 American Millennials (46%).
Inspiration from Everywhere:
- 42% of Millennials say that holiday photos posted to social media influence where they decide to go on holiday. This is particularly true in America, where what their network shares online influence more than 50% of Millennials.
- 30% of Millennials are actively entertained by collecting and sharing images of things they like – this generation enjoys being inspired and curating their inspiration.
- Millennials rely on a wide range of trusted sources from their social network to consumer peers including travel blogs and online review sites to industry experts and travel company websites. In fact, Millennials sampled in the report researched an average of 3.7 of these source types before booking their travel – more than any generation.
Personal Data = Personalisation:
- 77% of Millennials see value in sharing their data, compared to just 64% of non-Millennials.
- 80% of Millennials want a service that sends holiday recommendations based on their preferences and budget requirements.
- 45% of Millennials are prepared to provide personal data to online travel agents if it meant they would receive special discounts / offers relevant to them in return.
- Millennials have a big aversion to risk. According to the study, they want travel experiences verified by their network or a trusted source – they don’t want to be the first to try something untested.
- 43% of Millennials are intimated of travelling alone – a higher percentage v non-Millennials at 32%.
- 59% of Millennials worry about their safety abroad.
Technology Should Make It Easy:
- Nearly 50% of Millennials would like to use virtual reality to discover new holiday destinations.
- More than 65% of Millennials would like the ability to split the cost of their holiday within their group.
- Nearly 60% of Millennials are interested in travel related wearable technology.
- 68% would use a smart suitcase connected to the Internet, which is trackable using a smartphone app.
- Millennials are interested in instant concierge functionality – 44% would be interested in “an online shop assistant that I could talk to for advice as I was browsing products online”.