Not (Just) Another Headline About Millennials: New Report Reveals How They Shop And Who They Trust
I'd be willing to bet that the Millennial generation has been the subject of more news headlines and speculation during the past year than any two Kardashians combined.
Indeed, for several years now travel industry watchers have been giving us their ideas on how, when and where Millennials will eat, drink, sleep and shop. They've also thoroughly examined the attitudes, likes and dislikes of this generation … never mind the fact that there's not even a single, universally accepted definition of where Generation X ends and the Millennials begin.
With over $200 billion in buying power, Millennials have surpassed Baby Boomers as the largest generation, with a desire for much more diverse travel opportunities than previous generations sought. The uncertainty over how best to appeal to younger travelers has seen hoteliers launching a whole host of new brands aimed at Millennials.
Sabre's new e-book, Millennials De-Mystified: Who They Are, How They Shop, Why They Book, breaks through the uncertainty with facts and statistics. This new report combines the results of Sabre's survey of travelers ages 18 to 35 with analysis of booking engine data from thousands of hotels worldwide, across all generations of travelers, showing hoteliers how Millennials are shopping, which ones are traveling most right now and what factors help influence their booking decisions.
The result is a deep-dive into what this generation expects from hoteliers and what choices they're making right now. Yes, Millennials desire authenticity – but how does that translate into trust in specific sources of information? And yes, Millennials love their technology – but would you be surprised to learn that, according to our survey results, fewer than 10 percent of Millennial shoppers said mobile apps were their preferred method of booking a hotel stay?
This new research also goes beyond superficial questions and captures the voice of the Millennial consumer: the sources they trust for information on hotels when shopping, the channels they prefer when booking a stay and how often different members of the Millennial generation are traveling on business and leisure.
What we've learned is that Millennials shouldn't be viewed – or marketed to – as a single, monolithic demographic. Our survey results show that Millennials of different ages vary greatly in terms of lifestyle, relationships and earning power. Hoteliers that realize this key fact are going to be better prepared to give this generation of travelers the experiences they expect throughout the customer journey.
To help hoteliers better understand how this generation's travelers see themselves changing the industry, Millennials De-Mystified includes highlights from interviews with Millennials, sharing their thoughts on what they want from the hotels they choose, and what would make them more loyal to a specific hotel or brand.
Because Millennials are the future of business and leisure travel, it's important that hoteliers have an accurate sense of who Millennial business and leisure travelers are and what they expect. This report is the first step toward creating a guest experience that captures Millennials' imaginations, their travel dollars and their lifelong loyalty.
Click here to download your copy of Millennials De-Mystified and see how your hotel can refine its strategies to better engage this generation of travelers.