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.
6. #SkiftResearch
Coming Up:
â—Ź Monthly Consumer Tracker
â—Ź Travel Recovery Index
â—Ź Impact of COVID-19 on Public
Travel Companies
â—Ź Impact of COVID-19 on Hotel Tech
â—Ź Emerging Technology in Travel
â—Ź Venture Capital 2020
â—Ź Jan and Feb 2020 Travel Tracker
â—Ź The Impact of COVID-19 on Hotels
â—Ź The Impact of COVID-19 on OTAs
â—Ź March 2020 Travel Tracker
â—Ź Lessons from Past Crises for Travel
Companies: SARS and 911
â—Ź Travel Marketing During the Crisis
â—Ź Winners and Losers in Travel in 2008
Financial Crisis: Lessons for COVID-19
â—Ź April 2020 Travel Tracker
Recent Reports:
8. #SkiftResearch
Overview of Today’s Report:
● Travel Incidences January – April
● COVID-19 impacted travel February – April
â—Ź Changing consumer sentiments on the economic outlook
â—Ź Changing consumer intent on future travel
â—Ź 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
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:
â—Ź Monthly Consumer Tracker
â—Ź Travel Recovery Index
â—Ź Impact of COVID-19 on Public Travel Companies
â—Ź Impact of COVID-19 on Hotel Tech