By Justin Reid, Senior Director of Global Partnerships Solutions, Tripadvisor
Travel is more than just a routine – it’s a getaway filled with excitement and anticipation as people set out on a well-earned break or global adventure. While it may seem obvious that travel brands will typically focus their marketing efforts on reaching these jet-setting audiences, the truth is that travellers dive into a far broader spectrum of purchases when planning a trip.
In fact, research reveals that in 2024, a remarkable 84% of travellers are in the market for non-travel-related products—fashion, beauty, electronics, and streaming services amongst them—while organising their travels. This presents a massive, often underutilised, opportunity for non-travel brands to engage an audience primed to spend.
Splurge Alert
So, why does hitting “confirm” on a plane ticket suddenly make us more inclined to splurge on everything from new gadgets to fashion must-haves? The emotional high of planning a trip intensifies consumers’ desire for “affordable luxuries”. This is especially true for Millennials and Gen Z, who are 62% more likely to binge on streaming content and five times more likely to try new beauty products when travelling.
Understanding this psychological shift is crucial for non-endemic brands as they strategise to engage this ready-to-spend audience. The key lies in aligning marketing efforts with different stages of the travel experience.
Stages of Opportunity
The travel journey provides an excellent framework for understanding consumer behaviour across all touchpoints, opening up an opportunity that can attract all kinds of brands. Recent insights from Tripadvisor identified six key stages in the travel journey: dreaming, planning, booking, preparing, transiting, and exploring. Understanding these stages presents a chance for brands to connect with consumers at crucial decision-making points for strategic, targeted engagement.
For instance, certain aspects of travel when booking, such as flights or accommodation, are often the most significant expense. During the booking stage, travellers might seek additional services or products to provide reassurance or support, such as financial services, insurance, or flexible payment options. At this point, relevant companies in finance and insurance can meet these needs.
Stream to Engage
Similarly, brands in the entertainment and streaming space can take advantage of the transiting stage of the journey. For example, platforms like Netflix or Spotify can tap into periods of waiting, such as during long flights or travel delays, when travellers spend 27% more time streaming content than the average global internet user. Millennials and Gen Z travellers, who form a significant portion of this demographic, are 62% more likely to use streaming services during travel than others, making these moments ideal for entertainment brands to connect with this audience.
Data-Driven Moments
While these are just a couple of examples of the kinds of brands that are relevant during the stages of opportunity, the key is to ensure that data underpins the marketing at every point. The forecasted rise in retail media spending for 2024 is expected to reach $61 billion, reflecting advertisers’ growing appetite for first-party data and targeted experiences. By partnering with media platforms that are attracting the right audience, brands can harness valuable insights for more tailored campaigns.
In this context, travel platforms serve as important channels, enabling brands of all kinds to reach high-intent, high-spending consumers. These individuals are not only planning trips but also making purchasing decisions across various other categories. This is a huge opportunity to engage with travellers at moments of decision making.
From Potential to Profit
Ultimately, brands beyond the travel sector can tap into the thriving market by aligning with key moments in the travel experience. From stress-free financial services that bring peace of mind during booking to entertainment during long journeys, there are endless ways to engage with this receptive audience. What’s key, however, is to ensure data is at the core and that marketing is in the right place, to be seen by the right audience. Get this right and brands will reap the rewards of lasting customer loyalty that’s not just about the destination, but every moment along the way.