Affluent Consumers Actively Planning Vacation Travel for 2005, With One-Third Intending to Spend at Least $5,000
Survey From Thomas, Townsend & Kent and BIGresearch Also Reveals Longer Vacations, Booking Windows for the $100K+ Segment
CHICAGO, IL -- 04/21/2005 -- Affluent consumers are looking forward to taking vacations during the remainder of 2005, with many planning to travel for more than one week and spend in excess of $5,000 on their trip.
According to a study by database marketer Thomas, Townsend & Kent (TTK) and market intelligence firm BIGresearch, 89.9% of affluent respondents (those with household incomes of $100,000 or more) are planning vacation travel for 2005, with most planning trips for this summer (70.5%) or fall (44.3%).
Nearly 60% of affluent consumers intend to take vacations of eight or more days, and 17.9% are planning trips of two or more weeks. They will spend lavishly on their time away from home -- 35.2% plan to spend more than $5,000 and of this group, nearly one in five plans to spend more than $10,000.
These affluent travelers are also booking their vacations far in advance of their departure date. More than 86% book their plans at least five weeks in advance, with 23.2% finalizing plans more than 20 weeks before their vacation begins.
“Affluent consumers, who have many demands in their everyday lives, need to schedule their vacations far in advance to accommodate their other commitments and ensure space is available for their desired vacation plans,” said Roy Weiss, TTK’s executive vice president. “It is critical that marketers who rely on the business of affluent travelers communicate with them early and often,” added Weiss.
For this study, TTK and BIGresearch surveyed 6,548 individuals in TTK’s various travel-related databases, including www.statetourismboard.com.
For a complimentary report on these findings, contact TTK at www.thomastownsendandkent.com.
About Thomas, Townsend & Kent:
Chicago-based Thomas, Townsend & Kent (www.thomastownsendandkent.com) is a database marketing firm that specializes in connecting marketers with affluent consumers. The TTK Affluent Americans Database, which is available for list rental, contains detailed purchase-intent information on nearly three million households and is the nation’s most comprehensive database of this highly desirable consumer segment. TTK leverages this proprietary database, along with its various web-based operations, to conduct ongoing surveys with consumers regarding their upcoming travel plans and other purchases related to their affluent lifestyle. TTK’s clients include Gateway, General Motors, Holland America and Verizon.
BIGresearch is a market intelligence firm providing analysis of consumer behavior in the areas of retail, politics and media. The syndicated Consumer Intentions and Actions Survey (CIA) monitors the pulse of consumers each month to identify opportunities in a fragmented and changing marketplace. BIGresearch’s methodology provides the most accurate consumer information in the industry with a margin of error of +/- 1 percent. Complimentary findings are available at www.bigresearch.com.
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