As of August, 65% of US adults said they’d spent more on groceries and less on experiences in the past six months. Meanwhile, 59% agreed they’d spent less on experiences such as travel and dining out. Adults also reported focusing on savings while forgoing big-ticket purchases.
Microsoft wants airlines to burn the carbon they emit: The tech giant and Alaska Airlines are giving a startup’s sustainable fuel a boost. But potential hidden emissions are a caveat.
Airbnb’s Minority Report: Preemptive tech scrutinizes renters to determine if they’re risky. The tools reportedly reduced unauthorized parties in Australia by 35% but could alienate some customers feeling discriminated against.
Abercrombie & Fitch turns to new store formats to appeal to younger audiences: The retailer’s new “getaway” concept aims to capitalize on millennial and Gen Z affinity for travel.
Consumer spending on travel soars in Q2: That’s why companies like Airbnb and American Airlines are far more bullish than retailers about their outlooks for the rest of the year.
Walmart looks to benefit from consumers’ shifting spending patterns: The retailer giant is working with health and wellness hospitality company Getaway to develop small general stores at some travel outposts.
Worker shortages show no signs of easing this summer: Travel and an uptick in COVID-19 cases are straining businesses’ already slim operations.
Air travel disruptions could stall recovery: Skyrocketing complaints show industry has a customer service problem.
Travel tanked in 2020, as the onset of the Covid-19 pandemic shaved US digital travel sales by 50.0%. This is the first year sales will pass what they were in 2019, and the number of digital travel bookers in the US won’t return to what it was in 2019 until 2024.
Future of work, focus on CX trends are powering Airbnb success: The travel platform’s growth come as the rest of the travel industry sees mixed results.
This year, 120.0 million US adults will book travel via digital channels. While that figure is up 29.7 million from 2020’s pandemic low, it’s 6.2 million fewer digital travel bookers than in 2019.
On today's episode, we discuss the actual viability of the sharing economy: What should we make of Uber's diversification efforts and are Airbnb's latest changes enough to power the company up and to the right? "In Other News," we talk about the travel industry's optimism in the face of inflation and ad spending's positive outlook in the face of recessionary fears. Tune in to the discussion with our Briefings director Jeremy Goldman.
The travel industry looks forward to a summer rebound: Will they get it, though?
On today's episode, we discuss how much "Top Gun: Maverick" is helping movie theaters recover, why the number of American video game players is shrinking, the headwinds threatening air travel's recovery, how much money Spotify made from podcast ads, when Amazon may overtake Walmart as the largest retailer in the US, an unpopular opinion about the movie-viewing experience, how Bluetooth got its name, and more. Tune in to the discussion with our analysts Dave Frankland and Paul Verna and director of forecasting Oscar Orozco.