Luxury travel network Virtuoso has released findings from its first generational traveler study, which taps into transactional data from its U.S. and Canadian agency members that spans more than six years and totals more than US$35 billion. Virtuoso also analyzed spending habits and layered this information with input from focus groups, interviews with travel advisors and studies from research partner Wealth Engine.
Findings from the study included:
- The vast majority of Millennials (ages 22-32) — 90% — book travel online, and 87% use OTAs for research and rate comparisons.
- Gen Xers (ages 33-49) are the least loyal, perhaps because they came of buying age at precisely the time OTAs came into the picture, shifting loyalty from brands in favor of price shopping.
- Boomers (ages 50-68) are experiencing a big point of transition and as they retire, travel ranks among their top activities.
- Matures (ages 69-89) are the highest-spending travelers in aggregate, and their loyalty remains the highest, too, as they are the most likely to repeat purchase.