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Financial Innovation September 18, 2024

Fall travel look ahead: Avoiding the heat and crowds

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Quicktake: Consumer insights from Bread Financial

Fall travelers are traveling off-peak to get a bargain

Nearly half (43%) of fall travelers will spend between $1,000 - $5,000 on their trip, compared to 47% of summer travelers spending the same. Known as “shoulder season” for mild weather and cheaper prices, 35% said they are traveling in the fall to avoid the heat and 30% said it was to avoid peak summer prices. That said, some will be using their fall trips to splurge: 12% will spend over $10,000 on their trip, compared to 8% who planned to spend the same during their summer travels.


Rewards connect emotionally Travelers not sold on artificial intelligence (AI)
Consumers are evenly split on whether they would let AI build a travel itinerary for them, with 40% saying yes, 41% saying no, and 19% saying they were unsure. Younger travelers were more open to a digital assist.

Open to using AI to build travel itineraries 

Graphic 1

Big spenders are most likely to be younger
Nearly half (43%) of fall travelers expect to spend between $1,000 and $5,000 on their trips. Millennials and Gen Z are most likely to spend more: 3 in 10 will spend more than $5,000 on their trip.

Spending more than $5,000 on vacation

Graphic 2

Nine in 10 shopping to prepare for their trip
To get ready for their trip, 88% of fall vacationers are going shopping. Apparel (61%), footwear (43%) and beauty/ personal care products (39%) are top purchase plans, led by millennials.

Pre-vacation shopping plans

Graphic 3

Key takeaway: all travelers are looking for something better
Across all generations, 81% of travelers chose the fall for a better experience, including better weather, fewer crowds, better prices and more. Brands can tap into these feelings using messaging and imagery that affirms travelers’ sound choices, and by highlighting products and services that offer the best value.

Source: Bread Financial proprietary study, Fall Travel Look Ahead, August 2024.

About Bread Financial®
Bread Financial® (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive suite of payment solutions that includes private label and co-brand credit cards and Bread Pay® buy now, pay later products. Bread Financial also offers direct-to-consumer products that give customers more access, choice and freedom through its branded Bread Cashback® American Express® Credit Card, Bread Rewards™ American Express® Credit Card and Bread Savings® products.    
     
Headquartered in Columbus, Ohio, Bread Financial is powered by its approximately 7,000 global associates and is committed to sustainable business practices. To learn more about Bread Financial, visit breadfinancial.com or follow us on Facebook, LinkedIn, X and Instagram.