Category Archives: JB Research Company

Musings From a Bored Feasibility Consultant  

My practice lives and dies with innovation and optimism.  With most clients and friends scared to death about what this crisis will bring when it is over, or whether it will ever be over, my normally optimistic client base is taking a nap.  They are shut down and not practicing good old American ingenuity.

I have lived through many downturns and booms, a litany of business cycles.  My space in the entertainment development world falls between the idea and execution. Is this idea crazy?  Does it have legs?  Can I afford to develop it?  Where will I get development funds?  Am I nuts to be thinking this right now?  These are some of the questions my practice is hired to consider.

In all cases, I provide one of the following answers:

  1. Brilliant idea. Let’s do some preliminary testing.
  2. Hmmmm, I think that’s been done before, but maybe we can improve on the existing model.
  3. I like it, but I really think the idea needs more development on your part, or if you like, we can help you move it along.
  4. That is the dumbest idea I have ever heard. Save your money, don’t hire me, or if you’ve already hired me, you should fire me!

A couple examples of the ill-though-out ideas:

  • A large INDOOR entertainment center on the beachfront of a major East coast resort.  The branding strategy: It’s a beautiful beach day, let’s all head inside!
  • A 100,000 square foot museum at a major Indian casino in the U.S. with the theme “The slaughter of the tribe by the White man.”  (Footnote: The gamblers at the resort are 95% White.)
  • A major entertainment company’s decision to disallow wine at a park in France.
  • The decision to build two competing 20,000-seat amphitheaters across the highway from each other in a major Orange Co. California city.

But happily, more of my practice involves ideas that have you smacking your forehead and saying, “Why didn’t I think of that?”!  Some examples:

American Girl Place (built and wildly successful),

Academy of Motion Pictures Museum (to open year’s end 2020),

Hollywood and Highland (the initial plan didn’t follow our advice);

Sony Metreon (also, didn’t follow our advice);

A new hospitality/retail/dining/entertainment/ development in Mecca, the Hajj (they didn’t hire us:  I wouldn’t have either!);

A mixed-use sports and entertainment-infused $1.0 billion development in downtown Edmonton (The Oilers got 60% of their Phase One development funds from our numbers, the first time ever a sports venue received public funding in the province):

Maybe soon we will have a few new brilliant ideas to report to you.  Until that time, stay safe, well, healthy and hopefully, not too bored!

 

 

 

 

 

Some Bright Spots on the Jobs Horizon

While we’re all at home doing a bit of R&R and obsessively watching the news (oh, maybe that’s just me) for any glimmer of hope, I found some good news.  While the GDP shrank by 4.8% in the first quarter of 2020 and unemployment nationally is upward of 16%, there is plenty to worry about. 

But some companies are expanding and hiring like mad! These are the frontline businesses that need to ramp up workers to meet the short-term growing demand for their products and services, according to a report by Linkedin.    Here is a list of some of these growing companies:

Upwards of 51,000 Employees 

25,000 to 50,000 Employees 

  • CVS Health is hiring 50,000 employees to serve in various capacities across its business.
  • Dollar General says it’s looking to add 50,000 employees by the end of April.
  • Walmart is hiring 50,000 workers for its distribution and fulfillment centers.
  • FedEx is hiring 35,000 people for essential roles.
  • Allied Universal is hiring more than 30,000 people for open positions.
  • Ace Hardware is hiring 30,000 people to work in its stores nationwide.
  • Pizza Hut is hiring 30,000 permanent employees to serve as drivers, shift leaders, cooks and managers.
  • Lowe’s is hiring 30,000 employees
  • Dollar Tree, which is also the parent company of Family Dollar, is hiring 25,000 workers for its stores and distribution centers.
  • Walgreens is hiring 25,000 employees for permanent and temporary roles.

10,000 to 20,000 Employees 

400 to  9,999 employees 

  •  Office Depot is hiring up to 8,000 people to be seasonal retail        associates.
  • PepsiCo says it plans to hire 6,000 employees over the coming months.
  • AdventHealth is hiring more than 5,000 people to fill open roles.
  • TNG Retail Services is looking to hire 5,000 people for hourly roles.
  • Amwell is hiring people to fill 5,000 positions across the country.
  • Nestle USA is hiring more than 5,000 people.
  • Lockheed Martin is hiring more than 5,000 people to fill open positions.
  • Tractor Supply Company is hiring more than 5,000 people at its stores and distribution centers.
  • Rite Aid is hiring 5,000 people to work in their stores and distribution centers.
  • Big Lots is hiring 5,000 people to help meet increased demand.
  • Outschool is looking to hire 5,000 teachers to start offering online classes.
  • Providence St Josephs is hiring people for more than 3,000 positions.
  • Bon Secours Mercy Health is hiring nearly 3,000 people for open positions.
  • United Wholesale Mortgage plans to hire 2,500 people over the coming months.
  • Addus HomeCare is hiring people for 2,400 open roles.
  • CommonSpirit Health is hiring for more than 2,200 positions.
  • Mercy is seeking to hire more than 2,000 co-workers for essential health care roles.
  • Fidelity Investments plans to hire 2,000 people to fill roles, including financial consultants, licensed representatives and customer service representatives.
  • Salesforce is hiring for more than 2,000 positions.
  • Love’s Travel Centers and Country Stores is hiring more than 2,000 people to meet demand.
  • IQVIA is hiring for more than 2,000 roles.
  • Takeda, a large pharmaceutical company, is hiring for 2,000 positions.
  • Mercy Health is hiring nearly 1,900 people for open positions.
  • L3 Harris is hiring more than 1,800 people for open roles.
  • BAYADA Home Health Care is hiring more than 1,5000 people.
  • Trillium Health Partners are hiring 1,500 people for open positions.
  • Capital One is hiring for more than 1,300 roles across the U.S.
  • UCHealth is hiring people to fill more than 1,200 positions.
  • Bon Secours is hiring nearly 1,100 people for open positions.
  • Aveanna Healthcare is hiring more than 1,000 people for open roles.
  • Pruitt Health is hiring people for more than 1,000 roles.
  • Parsons Corporation is hiring more than 1,000 people for open positions.
  • Tetra Tech is hiring people in North America for 1,000 roles.
  • Better.com is hiring 1,000 employees — with a focus on hospitality employees.
  • Success Academy Charter Schools plan to fill about 1,000 full-time positions in New York City.
  • Publix Super Markets is hiring “thousands” of workers to meet increased demand.
  • Safeway is hiring thousands of workers due to the demand created by the virus.
  • Shipt is hiring “thousands” of people across the country.
  • CHRISTUS Health is hiring more than 1,000 people for open positions.
  • Regions Bank is hiring more than 900 people for open roles.
  • Philips is hiring roughly 900 people for open positions globally.
  • Ball Aerospace is hiring to fill more than 800 positions.
  • Veeva Systems is hiring people for more than 800 positions.
  • Fifth Third Bank is hiring nearly 750 people for open positions.
  • MUFG is hiring 700 people for open positions.
  • KLA is hiring workers for 700 roles.
  • Electronic Arts is hiring people to fill more than 700 roles.
  • Autodesk is looking to hire nearly 700 people for open roles.
  • Apple is hiring people for 600 roles in the U.S.
  • GoHealth is hiring 600 people for open positions.
  • Fortive is hiring 500 people for open roles.
  • New York City is hiring people for 500 non-clinical positions.
  • The CDC Foundation is hiring up to 500 people for open positions.
  • FactSet is hiring people for nearly 500 positions.
  • FirstGroup America is hiring people for 475 jobs.
  • Corizon Health is hiring more than 400 people for open roles.
  • Western Governors University is hiring more than 400 people.
  • Liberty Mutual is looking to hire more than 400 people to fill open roles.
  • DocuSign is hiring people for over 400 positions.
  • CommScope is hiring 400 people for open positions.
  • Fannie Mae is hiring 400 people for open roles.

Other Businesses that are expanding:

  • GHA Technologies
  • Cargill
  • Koch Industries
  • ServiceNow
  • The U.S. Census
  • BJ’s Wholesale Club
  • Blue Apron is looking to hire in New Jersey and California.
  • Land O’Lakes is looking to hire to meet increased demand.
  • Support.com is hiring a for remote positions.

These businesses are essential  retailers or those with strong cloud formats They include drug stores; other “Essential Retailers” (especially those that offer cheap good such as Dollar Tree), and businesses that can conduct all business remotely.

Will these firms continue their growth for the long term, or are they merely meeting new demand generated by the COVID-19 pandemic?  That’s the big question! Let us know your thoughts?  We love hearing from you!

 

 

Notes from the Underground – An Update on How We’re Doing

Are you as sick of washing your hands and your shelter-in-place roommate, husband, family, extended family as I am? I am ready to go ballistic if my husband puts one more item away that I just took out to use! We are all getting on each other’s nerves, and I don’t care how emotionally even you are (I am not!) or how much you promise yourself you will be calm, cool and collected, we are all experiencing cabin-fever and long for the days when we could go into Starbucks to get the morning cup of Joe.

Well, I have no answer for you.  Surprised?  You thought I’d give you four coping strategies.  But I have none. However, I can share some things that work for me.

 

  1. I have found that walking my dog with or without my husband, helps bring me back into the moment.  My dog, however, is tuckered and runs away when I bring out his leash.

 

  1. Playing the guitar and writing music helps. Now that is REALLY challenging when I feel completely uninspired and dried up, creatively speaking. It’s a real chore and maybe I will look back on these works someday, like you did when you wrote a poem when you were stoned and say to yourself, “what was I thinking?!”

 

  1. Writing blogs (which now seem like “Dear Diary” entries) and just simply going about the requisite chores have helped me stay sane.

 

  1. Each evening, making a list of the tasks for the next day. I never thought “order dinner from _____” (insert name of your favorite restaurant) would make it onto a to do list.  Parkinson’s Law (work expands to fill the time available).

 

  1. Also, the new-old sharing/visiting apps, ZOOM or Facetime, or Skype (does anyone use that anymore?) are actually very soothing and helpful. It is uplifting just to hear what my friends and family are experiencing, see their faces, giggle at something not really funny, or just share stories of our days.

We had an online Seder on Sunday, with many of my family members on both coasts, something we couldn’t do before because who travels cross-country for a Seder?  It was wonderful to connect with the extended family, Jewish and gentile, and drink red wine (not Manischewitz, some lovely Santa Rosa Cabernet, because, hey, it’s the local offering)

  1. We are planting our summer vegetables including tomatoes and zucchini. Have I ever done that before? Have we met? No, that’s Charley’s job, ‘cause he is from Indiana.

 

  1. Shopping online for spring and summer dresses. That might just be me, probably doesn’t help most people.  But I’ve gotten some really great stuff that fits perfectly, which doesn’t happen very often!  My favorite website for this is VICI.com.  Really airy, adorable comfortable dresses.  Retail is my vocation and avocation.

So that’s it for now.  Let us know how you are coping. Sharing is caring in this new world!  I feel better already!

Retail Therapy in the Age of Corona

We are all being affected by the various ramifications of the global pandemic. Some feel angry and want revenge (on who, it’s not clear). Most of us are worried and anxious. About their kids, about themselves, about money, about the future. Perhaps in my whole life, this is the second most frightening thing I’ve ever faced. I’ll keep you guessing on the most frightening…a story for another time.

When I am feeling nervous and anxious and out of control, I go shopping! It’s fun, recreational, lifts my spirits and gets me out to see the newest, latest and greatest. Because shopping is my avocation and vocation. I think I did that on purpose. Love what you do, and it won’t be work right?

Retail therapy, my life’s blood, has been taken away from me. It was my first language. My mother, who didn’t like me much, used to take me shopping. When we were out of the house, and away from my equally unpleasant father, life was clear and bright. We would go to stores (Marshall Fields at the time), buy me something new, and then have a soda at Blum’s. I think a soda was a scoop of ice cream, some sort of effervescing liquid and syrup flavoring. If you lived in Chicago, you probably know these institutions. The best department store and the best candy store, all within walking distance downtown. Those were happy times and gave me a future look at a lifetime of work to enjoy.

I am first and foremost a retail analyst/consultant and have been my whole career. With that taken away from me due to the pandemic, I am left feeling lonely and isolated. True, I am with my husband and have friends I talk to on the phone and through texts, but it is not the same. Yesterday, when taking my daily walk around a beautiful and springtime panorama that is my neighborhood, I recalled feeling like this, another time. It was my third year of college, what we used to call “junior year abroad”. I’d opted for Florence, Italy. The American Consulate was able to enroll my girlfriend Dutch and I in the University of Florence. She was enrolled in the art school and I in the school of economics and business. Our classes were all in Italian and we had both taken two years of Italian at Berkeley. But studying a language and living a language are completely different experiences, with one about 1,000 times more difficult!

To learn the language, I distanced myself from all my English-speaking friends. There was a whole campus of Stanford kids who lived in Florence for a year, in a villa where no Italian was spoken. I didn’t talk to them. I had a group of young American ex-pat artists who were studying (or not studying, maybe just drinking red wine as I recall) at the Accademia di Belle Arti di Firenze, a school established in 1563 to provide instructional experiences for young, blossoming artists. It was gorgeous and had an open lunchroom, where food was cheap for starving artists. A midday trip to the lunchroom felt like floating on a balloon for me. Great food and great American friends, who of course, only spoke English. I cut myself off from them!

6. IMG_25355. IMG_2536                                                        Me and  My American Friends
And then I had the few girlfriends I had traveled with from Berkeley, who were my anchor. I insisted on speaking only Italian with them, and two of the three never learned the language. They had come to party, and party they did! I rarely saw them.

After a few weeks of this “social distancing,” life became a drudgery and I was depressed. I couldn’t understand why. I was in the most gorgeous city in the world; I was 19, free and beautiful; I was pursed by many boys at school; I was friends with the pappagalli, a group of young Italian men in red sports cars who pursed foreign girls because they were “faster” (the girls, not the cars) than the heavily chaperoned young Italians. I racked my brain trying to understand. “Why do I feel like this?” I asked myself over and over again.

And then finally it hit me! While I was learning the language, I could only speak about the weather, what I wanted to eat, what I was doing that day, where I was going, how I would get there. Remember the sentences they teach you when you’re first learning the language “Where is the bathroom?”; “The spring flowers are beautiful.”; “Do you think it is going to rain?”; “I would like a steak with green beans please.”; “I am a student at the University of Florence.” This was the extent of my social interaction. And I was so frustrated trying to converse about meaningful things to my classmates, who were all Communists. Politics, the Vietnam War, what it felt like to attend Berkeley at a truly historical moment, where I got my clothes, how I missed my American way of life, how I missed peanut butter!!!

4. IMG_25373. IMG_2534                                                          Me and My Italian Friends

At a time like this, stressed and isolated, I would normally go shopping, the true nadir of retail therapy. And Florence was a fashion capital. The major high-end retail street was Via Tornabuoni where I walked every day on my way to school and back and to the library. A coat cost the same as a Fiat 500! Thousand of dollars for textiles! And the Ponte Vecchio, where all forms of 24-carat gold was sold for pennies of what it would have cost in the U.S. I was on a generous budget, but I couldn’t afford Armani, Pucci, Ferragamo or Gucci. I was relegated to the “flea markets” which had gorgeous leather goods and fake Gucci scarves. I still have one, I’m not kidding. I visited there often, but it wasn’t the same as my childhood shopping experience.

1 Via Tornabuoni2 ponte vecchio

                                                       The Retail Choices in Florence

When I finally realized why I felt so down, I changed my behavior. I talked to my American boyfriend; I talked to my Swedish boyfriend, I had wine with friends; I visited with my funny and sarcastic  American ex-pats; I began to repair the damage I had done with my girlfriend from Berkeley. And voila! I was happy again.

And what did I do about shopping? I saved my money and every month or so I could buy a gorgeous dress or shoes or scarf from a fancy store on Via Tornabouni.

I guess I’m saving money again! This time to visit my local Nordstrom when it opens again! To delight in all my senses; to touch, to see, smell, to taste to hear the beauty and majesty or retail therapy!

How about you?  What will be the first thing you do when this pandemic is over?  Write us and let us know.  We love hearing from you and getting your input!

Multi-National Traveler Choices

 

In our previous travel blogs, we looked at the travel-related patterns of Baby Boomers versus Millennials, and we also showed how Gen Zers were influencing the travel industry today.  In this blog, we decided to go broader and look at international travel trends.  We source an excellent report, “Multi-National Travel Trends” by the Expedia Group.  The study surveyed more than 10,000 travelers from ten different countries (approximately 1,000 travelers from each country) and then compared them to 1,000 travelers within the US.  The focus of this report was to take a more global look at what motivates international travelers and what their usual behaviors might be in 2019.  Below, we list the eleven countries the Expedia Group focused on along with the number of citizens per country, the GDP for each and the GDP per capita.

 According to Worldometers.com, all of these countries fall in the Top 21 Countries for GDP with the United States taking the number one spot and Argentina, the lowest.

Presented below are some of the more interesting stats from the report.

  • On average, Mexican and Chinese travelers take the most trips per year at 5.6 and 5.3 annual trips respectively. Canadians take the fewest at 2.8 trips per year.  Americans average 4.4 trips per year.

  • Argentinians take the longest vacations for an average of 12.0 days per trip while Japanese take the shortest trips at 3.4 days.  Americans average 6.7 days per trip.

  • Visiting family is more important to Americans, Canadians and Australians before relaxing or sightseeing. On the other hand, Chinese, Argentinians, Germans and Mexicans showed a preference for relaxing.  Japanese travelers ranked sightseeing as their number one reason for traveling while also being the least likely to book a romantic getaway out of all the countries.
  • All eleven of the countries choose planes as their number one choice for travel. Automobiles are the second choice for all countries except China.  These travelers prefer to travel by train.
  • Hotels are the number one choice for overnight accommodations for all countries.

  • Europeans, Canadians and Argentinians were the most likely to book international travel in 2018 versus domestic travel.

  • While the majority of travelers from all eleven of the countries have a budget beforehand (59% and up), Japanese, British and German travelers are the most ready to spend money and budget while on a trip at 93%, 81% and 80% respectively.

  • For all of the travelers, at least one third of their budget is allocated for both hotels (18%-34%) and flights (14%-22%) with another 16%-18% set aside for food.

  • All of the travelers from the survey consider value for their dollar as  important when considering where to travel. However, the travel decisions will more likely be decided based on 1) activities that will be done on the trip, 2) “once in a lifetime” experiences, and 3) the cultural experience before the “Lowest Price” option.
  • Japanese and Chinese travelers prioritize food experiences into their trips.
  • When making travel decisions, Chinese, Americans, and Brazilians are especially influenced by ads with appealing imagery and informative content.
  • Online Travel Agencies (OTAs) and Search Engines are the top choices for planning travel followed by Travel Review Sites. Chinese Travelers tend to prefer social and blog sites when making their travel plans.

According to the study, some key conclusions and insights for marketing include the following:

  • Recognize that all travelers  enjoy advertising that connects with them.  Think the Subaru dog TV spots.
  • Many travelers want a totally unique and individualized vacation.  Advertising should be geared to highlight this aspect of locations.
  • Travel consumers want to visit multiple spots when on vacation.  Offer them choices in experiences which are highlighted in ads.
  • Travelers still want a deal.  Always include several options that include great savings.
  • Develop programs and experiences with strategic partnerships for locations,  experiences and activities.

Source:  Expedia Group – https://info.advertising.expedia.com/hubfs/Content_Docs/Rebrand-2018/MULTI-NATIONAL%20TRAVEL%20TRENDS-Small.pdf?hsCtaTracking=dccce8ef-1e9e-483e-ada9-38c8823c84f3%7C581af612-a4b2-4d24-b037-456ab3fa0c88

 

Gen Z Travelers – What Do They Want This Summer?

The summer is in full swing!  We’re heading to the beach, to the pool, to the theme park!  While most people assume that summer travelers are from one of the three main demographic groups – Millennials, Gen Xers and Baby Boomers – the marketing focus often lands on Millennials.  That’s because this group is out of college, starting to make good money, starting families and working from anywhere in the world due to technological advances.  They have more business travel opportunities than past generations thanks in large part to the internet and the ability to work from home or co-sharing spaces.

But there’s a new generational cohort about to burst on the scene with incredible potential spending power.  These Gen Z children and young adults were born between 1995 and 2012 and are now aged roughly 7 to 23 years of age.  They number about 67 million right now, just one million less than their elder brothers and sisters, the Millennial cohort.  To predict the future, these are the kids we should be watching right now!

To put these numbers in perspective, let’s look at the updated infographic we do every year:

At the moment, totals by cohort are as follows:

  • The Greatest Generation              27 Million
  • Baby Boomers                                73 Million
  • Gen X                                               61 Million
  • Millennials                                      68 Million
  • Gen Z                                                67 Million
  • Gen Alpha                                        20 Million
  • Total                                                 316 Million

The 67 million Gen Z generation has a powerful influence on the travel industry.  In fact, one estimate puts the total spending power/influence of this generation at $143 billion.

How can these children and young adults have such influence on the travel industry?  The reason they have such a strong grip is because their parents are principally Gen Xers.  Gen Xers are 39 to 53 years of age and they were one of the groups that was hit hardest by the current recession.  In addition, they were around when the internet became available to all and they saw how this force  is affecting every aspect of live, work and play space.  As such, they focused their parenting on two very important topics: money and technology.  Due to the recession, they taught their children the importance of budgeting and saving money, and they also equipped them with cutting-edge iphones, ipads, and other electronics.

A few years ago, we posted a blog about Gen Z.   At the time, this young generation had been labeled with terms such as “short attention span,” “easily bored,” and “not very focused.”  We  pointed out how this generation was actually the best of all generations at not only multi-tasking, but the ability to process a huge amount of information very quickly.  This is key in how Gen Z makes decisions today, and it is by curating this information that they affect summer family travel.

Gen X parents want their children to have influence on  family travel and as such, parents are letting Gen Zers make the bookings for summer vacation activities.  The Gen Z generation then uses all of the information at their disposal to find budget-friendly “experiences” that they can all enjoy together.  Not only does this take the pressure off parents, but it also guarantees that the family will have fun while on vacation together.   To sum it up, Gen Zer’s have learned to be “fiscally responsible” and they want to get as much for their money as they can get, which the internet allows them to do.

As background, here are some statistics from a research group studying the behavior of these young people, GenZInsights.com.

What technologies Gen Z are using: 

  • 97.6% of Gen Zers own a smartphone across North America, Europe, Australia and New Zealand.
  • Nearly one quarter (22%) of Gen Zers use their smartphones 10+ hours per day.
  • 74% of Gen Zers prefer spending time online.
  • 31% of Gen Zers don’t feel comfortable without having their phone for “30 minutes or less.”
  • Of all the social media platforms available to them, the Gen Z generation prefers Snapchat and Instagram as their main social media sites.
  • 58% of Gen Zers don’t trust Facebook with their personal data.
  • 94% own a laptop.
  • 44.2% own a tablet.
  • 36.9% own a gaming console.
  • 30% own a desktop computer.
  • 66% of Gen Zers report using more than one digital device simultaneously.
  • 78% will entrust certain apps — though not all — to access their geo-locale.
  • 60% of Gen Zers won’t use a website or app that’s too slow to load.
  • 62% won’t use a website or app that’s hard to navigate.
  • 73% of Gen Zers use their smartphones to text and chat with one another.

When they are living their lives or on vacation, here is how they shop:

  • 41% of Gen Zers will read at least five online reviews before making a purchase.
  • Only 15% of Gen Zers see themselves as shopping exclusively online in the future; 77% see themselves shopping at stores with an omnichannel presence.
  • 70% of Gen Zers report exerting an influence on their families’ purchasing decisions.
  • 46% of Gen Zers follow more than 10 social media influencers.
  • 52% of Gen Zers are keeping track of at least three brands on social media.
  • Gen Zers prefer following brands on Instagram to Facebook by a 250-percent factor.
  • Gen Z prefers following brands on Instagram twice as much as Millennials.
  • 70% of Gen Z remain consistently loyal to the brand of smartphone they purchase.
  • 59% of Gen Zers show regular brand loyalty when it comes to electronics overall.
  • 65% of Gen Z shoppers want “real value” for their money — and are more inclined to purchase when offered coupons, incentives or a rewards program.
  • 56% stress the need for shopping experiences to “not be boring.”
  • 46% say the recommendations of friends and family members play a significant part in making their financial decisions.
  • When traveling, 58% of Gen Zers would rather stay at hotels than either AirBnb or vacation rentals.

In another survey by New Horizons that included 57,000 responses from 188 countries, we found some interesting infographics about where and why Gen Z’s spend their money.  The following infographic presents what they want to spend money on while on vacation:

In the next table, you can see how Gen Z’s in the 18 to 23 age group are internally/socially focused while traveling, slightly more so than the Millennial group.

 


This up and coming group will force us to innovate in the shopping and traveling experiences we offer.  What are you doing to connect with these young people?  Let’s start a dialogue and develop some new third places and vacation locales geared with Gen Z in mind.

Sources:

It’s Summertime, Summertime, Sum-Sum-Summertime!

This is our first article in a series of three regarding the fun summer unfolding and the way we will spend it.  To make it more interesting, we’ve divided our expected spending and behavior patters by the major spending generation.  Baby Boomers are now 55 to 73 years of age.  Gen X is 40 to 54.  Millennials, our largest group are now 24 to 38.

With summer-time upon us, the travel season is hitting the peak.  Consumers are hitting the roads and taking to the skies in droves in order to do everything from working, to visiting family, and even just taking the time to do something as simple as creating a memorable and educational experience.  With schools out for the summer, many families are taking summertime as the usual opportunity to create multi-generational memories.  And with Atlanta being the busiest airport in the world, with more passengers coming through per day than any other airport (and Chicago a close second), Atlanta is perfectly situated not just for domestic travel, but for international travel as well.

So who is traveling and where are they going?  We gathered up some interesting statistics from current studies to give you a glimpse of who might be coming to your neck of the woods and what they might be doing when they get there.  According to a survey by AARP taken in 2018 of more than 1,700 American travelers, we get a pretty good idea of where the three main groups  are going and why in the table below.

Base:  International and Domestic Trips in 2018: 
Data based on Total Responses, up to 5 trips discussed 
n = base number of responses; pink indicates most popular selections. 
Source:  AARP “Travel Research: 2018 Travel Trends” Report 
and JB Research Company

Millennials are traveling more than other generational groups, and they are taking more celebration vacations.  They are enjoying multi-generational trips, which is important because family size and expenditures are necessarily higher.  Baby Boomers also are planning multi-generational trips.  Gen X takes the most weekend getaways.

The primary mode of transportation for domestic and international travel are: plane (66% domestic & 87% international), cruises (5% domestic & 35% international), train (6% domestic & 16% international), rental car (24% domestic & 14% international), personal car (60% domestic & 13% international), and buses (2% domestic & 10% international) (AARP).

According to the same  survey, here is a more detailed look at why the three main demographic groups choose to travel in 2018:

Base:  International and Domestic Trips in 2018: Data based on 
Total Responses, up to 5 trips discussed

n = base number of responses; pink indicates most popular 
selections.

Source:  AARP “Travel Research: 2018 Travel Trends” Report 
and JB Research Company

Other reasons the three groups choose to travel are visiting family and friends, rejuvenating, and getting away from a busy life:

Source:  AARP “Travel Research: 2018 Travel Trends” Report

Many in each of these groups will choose not to travel this summer, with cost being the main impediment, as shown below:

Source:  AARP “Travel Research: 2018 Travel Trends” Report

Source:  AARP “Travel Research: 2018 Travel Trends” Report

All three generations plan to spend spend significantly more in 2018 than 2017, with Millennials planning to spend the most on vacations.

As suppliers of retail, dining and entertainment experiences, we should take note of these trends and make this the best and most profitable  year ever!

Sources: