Travel markets are now called to maximise their conversions and make up for lost time during the pandemic, focusing on adult travellers who are looking to purchase trips and accommodation in the next few months.
However, a great opportunity lies ahead, with May 2022 data showing that since October 2020, propensity to travel in the next 12 months is at its highest among 18 to 24-years-olds. This group, Gen Z, is made of young people who will make the big transition between student life and financial independence in the next few years.
Gen Zs are projected to account for 34 per cent of the US workforce by 2030, (40 per cent of the consumer market in the US) and they are the first digital natives, where physical and digital life have always coexisted. This generation will form its attitudes towards travel in the next few years, and it is important for marketers to get to know and monitor their travel preferences as they work on their planning; the positive associations their brands will be able to create today, will result in building engagement, trust and purchase in years to come.
Travel markets need to understand Gen Z
As young adults in Gen Z grow up and join the workforce, start earning steady salaries and having disposable income, their preferences and attitudes will consolidate over time. For marketers in the travel sector, it is important to understand how this generation responds to different levers such as price and brand purpose, to maximise their investment efforts around what matters most to Gen Zs.
To cater for a generation for which the only constant is change, it is vital for the travel market to keep engaging with Gen Zs through constant monitoring and generation brand tracking.