Guest blog By Noah Tratt
Can the mere act of planning a vacation increase a person’s happiness? A Dutch study released in 2010 revealed that the largest boost in happiness surrounding vacations comes from the simple act of planning the vacation. In fact, the effect of vacation anticipation boosted happiness for a full eight weeks.
Retailers take note: targeting a happy consumer during the vacation booking phase can be an extremely effective marketing strategy because there is a unique tie between retail and travel shopping patterns. A study from Millward Brown Digital and Expedia Media Solutions identified a direct correlation between the frequency of visits to retail and travel sites by consumers during this euphoric phase as they plan and book a vacation package. The Traveler’s Path to Purchase study examines the 45-day period leading up to a vacation package booking on an online travel agency to determine what the US consumer’s path to purchase looks like. It revealed that online content consumption increases during the vacation package planning and booking phases and that the patterns of retail site and travel site visitation are closely aligned. In the 45 days leading up to a package booking, retail sites were visited almost as frequently as travel sites. Vacation bookers visited retail websites 36.6 times in the 45-day path to purchase period, while travel sites were visited 38 times.
The connection between retail and travel site consumption is logical because consumers, in their state of increased happiness, and are often searching for new products that they may need for the vacation they’re booking. A beach vacation may inspire a consumer to look at buying a new bathing suit or sunscreen, the same way a ski trip would inspire the purchase of a new jacket or GoPro video camera. Each destination a consumer looks at serves as motivation to research and potentially purchase new products that will make their vacation that much better.
While the correlation between retail and travel site consumption shows that retailers are already enjoying the effects of a happy traveler, there is also an opportunity to target this group in a new way. Despite the increase in retail site consumption during the entire 45 day period before a booking, during the week of booking, retail site visitation dropped while travel site visitation peaked. As a retail brand, why not remain top of mind for those happy consumers throughout the entire 45-day period?
As consumers are actually booking their vacation package, retailers should be where those consumers are – on travel sites – to ensure consumption increases again as booking is happening (as seen in the graph above).
Marketers across all industries need to look at new places and ways to target their existing and potential customers. Travelers, retail shoppers, bank customers and restaurant goers are all one in the same, so as marketers working across various industries we need to work together to serve consumers in the most relevant places, and in the most interesting ways possible.
Noah Tratt is global vice president of media solutions at Expedia, Inc.