Marketing Forecast from Ad-ology

According to new research from The Knot Inc., “brides remain committed to planning a luxurious, memorable event and are willing to spend despite the state of the economy,” said Carley Roney, editor in chief of The Knot Inc. “In fact, approximately 1 in 5 brides are spending more than $30,000 on their wedding, and 12% of brides are spending more than $40,000.” Destination weddings are becoming more popular, and brides are increasingly using online wedding planning tools to prepare for the big day. More brides are using social media to communicate wedding details (a 78% increase since 2008) and creating/sending save-the-dates or invitations online (a 40% increase since 2008) as well as using an online RSVP service (a 31% increase since 2008) or setting up personal wedding websites (a 23% increase since 2008).

According to Travelocity’s annual “Traveler Confidence Report,” a majority (89%) will spend as much or more on travel in 2011 as they did in 2010. The survey of more than 1,400 Americans also found 95% of respondents will travel as much or more in 2011. Though travelers are planning to spend more, they’re also planning to spend more carefully. Sixty percent of respondents claimed to have a predetermined travel budget for 2011, up from 44% in 2010. “Judging from the number of respondents who say they intend to both travel and spend more in the coming year, the travel industry could see continued growth in 2011,” said Hugh Jones, President & Chief Executive Officer, Travelocity Global.

Consumers may be planning to increase leisure and business travel this year, but that doesn’t mean the travel agent industry will benefit from the increased spending. The traditional business model for travel agents has been disrupted as more consumers use online resources to plan and book their vacations and business trips. The new operating environment means travel agents must find and market new services and many are turning to ancillary services to fill the revenue gap.

Travelers rely on multiple information sources when planning where to stay on a business or leisure trip. As online resources and social media have grown more popular, operators want to know which sites are attracting travelers and why. The Cornell Center for Hospitality Research has studied this topic and published data that explains where travelers are looking for information and how behavior differs between genders.

According to a new survey from Travel Leaders, travel is expected to rebound in 2011 as “people either feel more stable in their situations or decide they can’t wait any longer to take a needed vacation,” according to Roger E. Block, CTC, president of Travel Leaders Franchise Group. Based on current bookings so far for 2011 and conversations with clients, more than 88% of Travel Leaders surveyed say clients will spend the same or more on travel in 2011. In addition, when asked if they would fit more travel into 2011 if good deals were available, 94% of respondents answered yes. And for the second year in a row, 18 to 30-year-olds are expected to spearhead the move to take more leisure trips in 2011.

Is the travel market rebounding? Or is something more complex leading to the growing demand for both private air charter and rental cars. After years of decline or little growth, associations representing private air charter and rental car companies report an improved outlook for the future. Experts are pointing to specific reasons for this growth and this information can help marketers position their ad campaigns.