Marketing to Moms: Families are “gifting” vacations
November 24, 2009 § Leave a comment
The new normal is causing all families to re-evaluate their lifestyle. For families with incomes of $100,000+, conspicuous luxuries and over-the-top giving are being replaced with family time together.
Families are finding value in time together and are finding trips as a way to share experiences.
The latest Survey of Affluence and Wealth in America, produced by American Express and researchers Harrison Group, looks at families with incomes of $100,000 and above, and shows that optimism is rising but household financial management has been reinvented.
Travel as a family can be a smart gift. Vacations are a family decision, and the trip is considered a gift for the group. Other gift giving is reduced by the cost of the trip.
Spending on trips as a gift is rising, as 32% of families plan a special holiday trip. Travel is in the list of Top 12 gifts for this year.
Families expect to spend more time with each other, and with friends. And maybe the most surprising statistic of all, happiness is up as people learn to deal in need rather than wants.
Travel destinations and resorts can take advantage of this trend by offering special packages and activities for extended family groups. Rental accommodations like houses and condos that families can share offer value to extended family groups.
Source: Luxury Travel 360