Skift Research U.S. Consumer Sentiment Report
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This document summarizes a Skift Research report on U.S. consumer sentiment during the COVID-19 pandemic. It finds that while travel rates dropped significantly from January to April 2020, optimism about the economy and personal finances has increased recently. Two-thirds of Americans expect their first post-pandemic trip will be a road trip. Younger consumers plan to travel again sooner than older consumers. The document also outlines new consumer segments based on experience with COVID-19 and identifies upcoming Skift Research reports.
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Skift Research U.S. Consumer Sentiment Report
- 1. #SkiftSummit May 14 11am to 11:45am ET
- 2. #SkiftSummit
- 3. #SkiftResearch May 14 11am to 11:45am ET
- 4. #SkiftResearch Sean Willey Subscription Sales Director Skift U.S. Consumer Sentiment INTRODUCTION
- 5. #SkiftResearch Quantifying and Empowering the Future of Travel Get in touch: sw@skift.com
- 6. #SkiftResearch Coming Up: ● Monthly Consumer Tracker ● Travel Recovery Index ● Impact of COVID-19 on Public Travel Companies ● Impact of COVID-19 on Hotel Tech ● Emerging Technology in Travel ● Venture Capital 2020 ● Jan and Feb 2020 Travel Tracker ● The Impact of COVID-19 on Hotels ● The Impact of COVID-19 on OTAs ● March 2020 Travel Tracker ● Lessons from Past Crises for Travel Companies: SARS and 911 ● Travel Marketing During the Crisis ● Winners and Losers in Travel in 2008 Financial Crisis: Lessons for COVID-19 ● April 2020 Travel Tracker Recent Reports:
- 7. #SkiftResearch Haixia Wang VP of Research Skift U.S. Consumer Sentiment ANALYSIS
- 8. #SkiftResearch Overview of Today’s Report: ● Travel Incidences January – April ● COVID-19 impacted travel February – April ● Changing consumer sentiments on the economic outlook ● Changing consumer intent on future travel ● New consumer segmentations
- 9. #SkiftResearch What did March and April travel look like? Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 10. #SkiftResearch Travel Rate: Dipped from 46% in January to 19% in April Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 11. #SkiftResearch Small towns and countryside continue the rise as the most visited destinations Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 12. #SkiftResearch Paid stays are still in decline Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 13. #SkiftResearch Percentage of trips including flights in single digits Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 14. #SkiftResearch How did COVID-19 impact travel bookings in March and April? Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 15. #SkiftResearch Pre-booked travel cancellations haven’t reached the bottom l Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 16. #SkiftResearch Slight uptick in new bookings lured by cheaper prices Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 17. #SkiftResearch How pessimistic are consumers about the economy? Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 18. #SkiftResearch Concerns about COVID-19 peaked in April Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 19. #SkiftResearch As some states loosen up restrictions, people have felt some sense of control Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 20. #SkiftResearch Uptake in optimism about the economy compared to the last two months Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 21. #SkiftResearch Outlook for personal financial situation follows the same trajectory Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 22. #SkiftResearch More consumers expect to increase travel spending significantly NOW than in February Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 23. #SkiftResearch When and how will consumers travel again? Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 24. #SkiftResearch Will the polarization in attitude hold in behavior? Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 25. #SkiftResearch Two thirds of Americans expect their resumed travel to begin with a road trip May-20 Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 26. #SkiftResearch With no effective prevention or treatment, more people will opt for a travel journey they deem safe Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 27. #SkiftResearch For accommodation, what is deemed safer seems more subjective for now Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 28. #SkiftResearch Car travel prevails in transportation preferences Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 29. #SkiftResearch Popular urban centers might face the biggest tourism challenge in the near future Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 30. #SkiftResearch WHO will travel first, and WHO are likely to change HOW they travel? Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 31. #SkiftResearch Age Factor: concerns increase as age increases Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 32. #SkiftResearch Age Factor: younger people will travel again faster than older ones Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 33. #SkiftResearch Age Factor? Age is not linearly associated with travel preference changes Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 34. #SkiftResearch Marital status and having children have strong impacts on decisions Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 35. #SkiftResearch More importantly, your experience shapes your behavior Likeliness of Travel Preference Change Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 36. #SkiftResearch Perception of danger Severity of personal impact Sensitivity to life- changing situation Levels of exposure When Where How New Consumer Segmentation Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 37. #SkiftResearch Where are YOU in this chart? Travel Incidents COVID Impact Economic Outlook Future Travel Consumer Segments
- 38. #SkiftResearch New Reports Coming Up: ● Monthly Consumer Tracker ● Travel Recovery Index ● Impact of COVID-19 on Public Travel Companies ● Impact of COVID-19 on Hotel Tech
- 40. #SkiftResearch Wouter Geerts Senior Research Analyst Skift Seth Borko Senior Research Analyst Sonder U.S. Consumer Sentiment AUDIENCE Q&A Haixia Wang VP of Research Skift
- 41. #SkiftResearch Quantifying and Empowering the Future of Travel Contact information: sw@skift.com www.calendly.com/seanwilley