Berlin, 01 September 2017
How travelling Millennials are getting better value for their money than everybody else
How travelling Millennials are getting better value for their money than everybody else.
Millennials, sometimes referred to as “Generation Y”, are the demographic group that directly followed “Generation X”. The term is applied to individuals who entered into adulthood at the beginning of the 21st century, or that were born somewhere between 1982 and 2004.
A huge cultural difference between Generation X and Generation Y is evident in the manner in which the two groups decide to use their money. Generation X is generally considered to have grown up with the need to “keep up with the Jones’”. Life goals were often to save money for the future when one would need a house and a car for a comfortable nuclear family lifestyle. However, keeping up with the Jones’ for Millennials is an entirely different game. Millennials value variety, opportunity and most of all, new experiences. For a millennial, it is no longer important to have a better car and house than their next door neighbour, but more important to have a more exciting collection of experiences, photos and memories on their Facebook, Instagram and other social media pages than their friends from high school. Therefore, it has become necessary in the travel industry to know exactly how to communicate with Millennials, and obviously, in our digital world, this communication must happen almost entirely online.
According to imrg, online travel sales in the U.K increased by 16% last year to £130bln, a trend that is evident worldwide. Traditional marketing techniques seem to fall on deaf ears when it comes to Generation Y. Millennials grew up being bombarded by advertising, making them skeptical about promotional material of any kind. It is clear that they are more likely to listen to recommendations on social media than to be affected by obvious marketing material. This behaviour forces travel companies to be unconventional in their approach to attracting the Millennial crowd. Younger travel companies are now managing to base their business model around this unconventional social media message. The relationship between the tourism industry and Millennials is one that must be of mutual respect. The online travel agencies need the Millennials’ business but the Millennials will not be tricked. Their goal is to gather as many experiences as possible, and to be able to do that in today’s economy means that the price has to be right. Millennials grew up using computers; the Internet is second nature to them. They can adjust to new programs, websites and operating systems with no trouble whatsoever, and are willing to share what they believe is a good product with their Millennial friends via Social Media. This, coupled with the ease of access to comparison sites, pushes the online travel agencies to make their prices more accessible and most importantly, affordable.
Millennials can compare everything, wherever and whenever they want via their smartphones in a blink of an eye, and thus, flights providers and the service industry have to meet Millennials on their smartphones, by portraying a product that ticks both the price and experience categories.According to a Google study, about two thirds of Millennials are comfortable planning all aspects of their trip on a smartphone; double the number to that of older travellers. Furthermore, 41% of Millennials have already been through the process of booking flights on their smartphone, compared with just 25% of older travellers. Most importantly however, 66% of millennial travelers are confident that they have complete access to the whole market of flight and hotel information and prices, directly from their smartphone. With such ease of access to travel prices, the Millennial travel client is now somewhat a market expert. Due to their tendency to browse via smartphone and the fact that they receive personalised alerts and notifications they are constantly aware of the pricing trends. They will no longer pay over the odds for their holiday and thus they will no longer fall into the expensive traps traditionally set by travel agents. Millennials have proven that they will no longer pay more for an expensive flight with a well-renowned airline when they can get to their location with budget airlines for a fraction of the cost, just as they will no longer pay hefty fees for hotels when they can have a “local experience” at a fraction of the cost with Airbnb.
All of these factors mean that now travel comparison sites are the market leaders across the whole travel industry, but the Millennials still need more. The online travel industry will continue to be creative in its efforts to attract users, this is evident in a new trend of travel sites adored by Millennials. Deal gathering sites such as HolidayPirates.com are now doing the comparison work and putting flights, accommodation and even car hire together at prices that even Millennials cannot beat. Millennials are attracted to these sites due to the price, but stay for the engaging social media experience (HolidayPirates recently passed the 8 million Facebook fans milestone with over two-thirds of thee users being Millennials) Using light-hearted language largely made up of puns and jokes, engaging videos and fun articles, they are able to attract users to their website from social media without exhausting any marketing budget. Due to a combination of current market trends and the behavior of Millennials it is simple to understand why they are now getting better value for money when it comes to travel than anybody else.
As Millennials value experience more than wealth they are always looking for more interesting trips with a smaller budget. Furthermore, their more flexible lifestyles allow them to take advantage of all of the market possibilities such as last minute deals. Finally, because traditional marketing techniques are not as effective with them and they have better and faster access to information than previous generations, they will no longer accept being overcharged for a trip.
HolidayPirates can help your business reach out to this huge digital audience. Get in touch on [email protected] and one of our knowledgeable team will get in touch.Back to Press Releases
About HolidayPirates Group
The HolidayPirates group is one of the fastest growing travel companies in Europe. The business has websites in Great Britain, Germany, France, Italy, the Netherlands, Austria, Poland, Spain, Switzerland and the USA. Prospective customers will find the best travel deals collated from numerous third party sites. The multi-award-winning website is updated numerous times on a daily basis and covers flights, package holidays, car hire and the hotel sector. In addition, there is information on special promotional campaigns as well as train and bus travel. Each of the travel portals belonging to the HolidayPirates group works completely independently of the relevant operators and partners. In 2016 the portal won a British Travel Award in the section “Best Travel Deals Provider”, a “Momentum Award”, “Best and Most Popular Website of the Year” in the travel and leisure category, as well as the “Rising Brand of the Year” by Travolution Awards.
Senior Communications Manager
Phone: +49 0 3034 655 4671
E-Mail: [email protected]