Key Summer Predictions
Posted by andrew.mockridge | 01 April
By Amy Robson
Here in the US, after enduring one of the coldest winters, it seems that consumers are looking to travel, shop, dine out and drink more than ever this summer.
Demand for premium travel in particular is high, with a total of $61 billion predicted to be spent on travel this summer through online travel bookings, a 15% growth from last year.* Out of these, it seems airline bookings are growing the fastest, with a 28% year-over-year growth, the most desirable destinations being London, Paris, Rome, Orlando and New York.*
Retail sales in the US, excluding gasoline, are expected to climb around 4.5%, compared with a 4% increase in 2014** This is an extra 4.5% of sales opportunities to be captured! We are also expected to see strong growth for restaurants and bars- about 8%, as consumers spend more of their discretionary income on dining out and drinking. Furniture brands are also predicted to see sales bump up around 4%, due to a 19% rise in new single-family home starts in the US** with these first-time home buyers looking to decorate.
Over recent years and in 2015 and the US market specifically, brands have turned to new flavor innovations to boost alcohol sales; some also blending categories such as rum and tequila. Think summery, dessert-flavored vodkas and twists of fruit infusions. We are experiencing a continual trend for bars offering themed experiences with these drinks to match as well as sales of bourbon surging by more than 35% in the U.S in the past five years and by 50% overseas.*5 This saturation of flavor innovation means greater choice for the consumer, ultimately resulting in even greater competition and need for Marketers to think differently in regards to their strategies this summer.
In the travel industry specifically, brands are constantly vying for consumer attention and coming up with new ways to lead customers to the finish line, trying to avoid that basket abandonment. Adding value to the purchase and incentivizing at the checkout pointwill be the most effective way to get your brand to shine.
Well- targeted, personalized marketing investments will also be key. The use of tools that will assist in researching, deploying, and automating marketing efforts, for example beacon technology, will increasingly be used in campaigns to geo-target consumers. We will see beacon technology rolled out across festivals, those themed bars and major sporting events. The implication being the need for brands to get thinking about how they can get incentivizing and rewarding in a way that is relevant.
Consumers want promotions and rewards that are relevant and that are genuinely exciting; they want experiences they can share; days in the sun with family, summer festivals with friends, music downloads they love.
Talk to TLC Marketing at USA@tlcmarketing.com to see how you can get your brand to shine this summer.
• USATODAY- Summer Trending Forecast *
• Kiplinger- Economic Outlooks **
• Marketing Tech Blog- Marketing Predictions 2015***
• Skift- Battling Shopping Cart Abandonment *4
• The Wall Street Journal – A Sibling of Jack Daniel’s Gets a Little Love *5