Vacations, re-defined (or just re-labeled)

Observation:  Two stories from today’s Marketing Daily suggest that family vacations look different than tradition might suggest.   The first article focuses on the now-cliché stay-cation, caused by higher gas prices and airfares.  The second story gives us a new term to consider, the near-cay. 

Implications:   Whether you call them stay-cations, day-cations, or near-cays, the point is essentially the same; consumers would rather spend money on experiences than on getting to those experiences.  They’d rather find attractions that are close-to-home, and then put their money into activities and entertainment instead of gas pumps and airlines.

No new terminology needed, as the old word works well:  Value.  And this is a great example of where the word “Value” doesn’t necessarily mean “lower cost,” it just means more enjoyment received.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.