Horizon Examine Examines Client Sentiment On Journey In the course of the Pandemic and How Journey Manufacturers Can Reply to Drive Restoration in 2021
NEW YORK, Dec. 15, 2020 (GLOBE NEWSWIRE) – Horizon Media, a leader in data-driven business results for some of the most innovative and ambitious brands, today announced results of its latest study of consumer sentiment when traveling during the year pandemic and the impact on brands in the US travel and hospitality industry, a sprawling $ 1.5 trillion category (source: Statista).
The results are part of an ongoing Finger on the Pulse Consumer Sentiment Tracker by Horizon’s WHY Group, which examines how people understand and respond to today’s environment. Brands face unprecedented uncertainty about how people will react to economic turmoil, the continued spread of COVID-19, and the promise of a vaccine. In this new normal, Horizon helps clients understand people’s current feelings, behaviors, and cultural changes as they affect how brands respond.
The Horizon study found that people return in seizures and beginnings to balance competing emotions, practical considerations, and even the decision to spend their hard-earned money or save it during this time of financial uncertainty. Despite rising infection rates, the recent surge in Thanksgiving travel showed that pandemic fatigue has set in. People have exhausted ways to avoid quarantine fatigue and a persistent appetite for new experiences. Those willing to travel plan their trips with an approach that weighs the risks and rewards and creates a precarious balance between chance and safety.
Those feeling the travel bug are ready to take off, and potential travelers and hotel brands alike are fixated on when will we return to pre-COVID-19 travel. 47% of those who traveled before the pandemic report that they have already dreamed of the exciting vacation destinations they will visit in the future. To meet this pent-up demand, brands need to advertise during the hold period and serve last-minute shoppers when the journey resumes.
The return to normal travel will be driven by sentimentality and a collective celebratory mood rather than a sense of adventure. 56% say their first trips after the pandemic will be focused on seeing loved ones, and 29% will hit late milestones like weddings.
The study also found that because of travelers’ willingness to plan and book travel in response to vaccine availability, people fell into one of three segments of roughly the same size – those who lived their lives normally (called “live mine Life”). People who are waiting for a vaccine before booking (“Are we there yet?”) And people who are taking a break from travel for the foreseeable future (“Shelter in Place”).
The impact matters to travel brands, who can win by placing their bets on key travelers.
Horizon believes travel brands should focus on those with a “Live My Life” view in the first half of 2021, people who are more likely to be young, affluent parents hoping to offer adventure for their children or their own To find escape. Then in the second half of 2021 we will see more demand from the Are We There Yet camp, an affluent group of elderly travelers, often parents, who choose to wait for their own safety and the safety of their communities. Brands should expect little activity in the “Shelter In Place” group, which is more likely to have stopped travel due to financial uncertainty and job loss.
The poll also identifies a segment that Horizon calls the “new nomads” as the great escapists of the COVID era. After months of lockdown and work-life imbalance, an estimated 55.9 million remote workers in the Live My Life and Are We There Yet segments still view travel as a great escape. They benefit from more flexibility in long-term “jobs” where they work part-time on vacation destinations or fully embrace nomadism by living and working on the streets.
There are of course challenges for the travel industry and its adjacent brands as the nation prepares for a winter of ongoing COVID-19 spread. Still, 2021 will be a year of recovery and hope as more vaccines get approved and become more widely available.
Via Horizon Media
Horizon Media, Inc. is a leader in delivering data-driven business results for some of the most innovative and ambitious brands. Founded in 1989, the company is headquartered in New York with offices in Los Angeles and Toronto. With estimated bills of approximately $ 8 billion ($ 9 billion before COVID) and over 2,400 employees, Horizon is the second largest US media agency according to AdAge Datacenter.
Horizon Media was recognized by Fast Company as one of the ten most innovative marketing and advertising companies in the world and was named Media Agency of the Year by MediaPost, Adweek and AdAge. It is known for its extremely personal approach to customer service. Known for its culture, Horizon is regularly featured on all of the prestigious annual Best Places to Work lists published by AdAge, Crains New York Business, and the Los Angeles Business Journal. Fortune was named Best Workplace for Diversity, Women and Millennials by Fortune.
Bill Koenigsberg, President, CEO and Founder of Horizon Media, has received numerous industry awards and received the industry’s top award in 2019 when he was inducted into the American Advertising Federation (AAF) Hall of Fame.
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