The travel tourism industry grew by 13% YoY in the first eight weeks of 2018. With this impressive rise, it is crucial for brands to know who is behind this growth, and how they can target them. As seen in our most recent report, Hitwise and agency Propellernet has partnered to unearth the most common misconceptions and myths around the luxury traveller, and show how online audience data can dispel these assumptions.
Consumers are either in the market for luxury, or not
When we think of luxury consumers, we often focus on wealthy individuals with high disposable income. But the market for luxury travel is much more diverse than what we believe it to be. In the chart below, we can see that different types of luxury travellers are performing the same types of searches.
For example, we can see that luxury destinations like St Barths and Maldives, attract a similar share of both honeymooners and affluent households.
Wealthy consumers only engage with luxury brands
It’s also easy to assume that wealthy consumers are only interested in premium or luxury brands. Again this isn’t always the case. For example, in the first 8 weeks of 2018, top affluent types “World Class Wealth” and “Uptown Elite”, were more likely to visit budget airlines and hotels compared to the general population.
Luxury consumers aren’t looking for a bargain and won’t do travel DIY
Another misconception is that affluent audiences aren’t that fussed about deals and bargains. But statistics show that top affluent groups are still conducting their own travel research, particularly on sites like Skyscanner, Tripadvisor, Trivago and Airbnb over peak period.
So what does this mean?
Through these myth busters, we saw that travel-related searches were similar between affluent and aspirant audiences, and as these myths have shown, segmentation is key for brands to understand the “who” and “why” when it comes to their audiences.
To find out more on trends and audience tactics within the peak travel industry, download the full report here: Peak Travel in 2018