Not long ago, I pointed to a Research Brief indicating that many consumers were defying the high price of gas, and taking their vacations as planned (see “UPDATE: Gas Pains,” May 23, 2011). Today, another survey seems to contradict that assertion, as published by BIG Research. Click here to see the release.
Implications: This is a good reminder that trend observations are not unilateral; for every trend, there is a countertrend. While some folks have “had it” with the recession and are pressing on with their travel plans, there are still plenty of households where caution reigns.
Do you cater to the cavalier or the constrained consumer? There is room to profit either way. Perhaps the family that declines travel this year will instead install a small pool or deck in their back yard, or purchase patio furniture or interior home furnishings… as a means of enjoying a little entertaining, down-time or family fun, without leaving home.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.