Compete, Inc.'s Latest Study Reveals which Generational Segments are Willing to go the Distance in Their Travel Planning; Baby Boomers the Most Likely to Book Online after Researching Hotels and Flights.BOSTON Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. -- Compete, Inc. today announced findings from a new travel study, "Online Travel Comes of Age." The study's findings reveal that consumer's travel planning preferences vary dramatically across generations, providing savvy marketers the opportunity to create distinct strategies for targeting specific generational segments. Full research findings will be presented during a web seminar "Consumer Insights for Today's Travel Marketers" on April 27 at 2pm ET. To sign up, go to http://www.compete.com/news_events/events.xtp Compete's research revealed that Baby Boomers See generation X. (aged 45 to 64) are a travel distributor's best bet to capture a booking. Over 10% of the 17 million Baby Boomers who research travel online each month will also book online, considerably more than Young Travelers who tend to window-shop, and Seniors who may be uncomfortable purchasing over the web. "Travel marketers that develop content, services and promotions targeted at different age groups will be ideally positioned to more effectively manage their online distribution strategies," said Gregory Saks, senior associate at Compete. "Ensuring that certain functionality is marketed and directed appropriately, such as live online customer service to Seniors, or last-minute deals and specials to the price-conscious "Y" Generation, for example, will help improve look-to-book ratios." Compete analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. travelers' behavior in seven different generational segments to understand generational differences in how travelers use online resources as they research and book travel online. Each generation was benchmarked in the number and type of travel sites used, agency versus supplier preferences, booking decisions, and brand preferences. The study examined traveler behavior across more than 1,000 online travel destinations. Additional key findings include: --The Coolness Quotient quotient - The number obtained by dividing one number (the "numerator") by another (the "denominator"). If both numbers are rational then the result will also be rational. : Young Travelers (18-24) are an online agency's best friend. They are influenced by the flashy marketing campaigns of online agencies and consequently spend more time on agency sites - especially price focused destinations like CheapTickets and Hotwire. Young Travelers will visit an average of 1.7 online agencies when looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. travel, the highest of any generational segment. Just 19% of these Generation "Y" travelers bypass agencies entirely, compared to 32% of Seniors. --Trust and Value: Seniors (65+) prefer booking directly with airlines and hotels. Seniors overwhelmingly favor booking flights and hotels directly with suppliers that offer low-rate guarantees and other perks perk 1 v. perked, perk·ing, perks v.intr. 1. To stick up or jut out: dogs' ears that perk. 2. To carry oneself in a lively and jaunty manner. . Nearly 80% of the flights booked online by Seniors are done at supplier sites, while the figure drops as low as 72% for 25-34 year olds. Similarly, 68% of hotel bookings made by Seniors are at supplier direct sites, compared to 58% for the 25-34 age group. --Insatiable Appetite for Information: Baby Boomers view an average of 36 pages of travel content when researching online. This is 15% more than Young Travelers and 25% more than Seniors. Of the travel content viewed by this group, over 70% takes place on agency, hotel supplier, and airline carrier websites. About Compete Compete, Inc. extends online market research to transform the way consumers and brands communicate. By combining permission marketing, predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. and the industry's largest consumer behavior database, Compete helps marketers identify and reach their target consumers. Compete delivers conversant CONVERSANT. One who is in the habit of being in a particular place, is said to be conversant there. Barnes, 162. marketing solutions that increase profitability and customer loyalty and result in measurable and effective marketing programs. Compete delivers these solutions to leading brands such as Carlson Hotels Worldwide, DaimlerChrysler, Hyundai Motor America, Teva Neuroscience neu·ro·sci·ence n. Any of the sciences, such as neuroanatomy and neurobiology, that deal with the nervous system. neuroscience the embryology, anatomy, physiology, biochemistry and pharmacology of the nervous system. , Toyota Financial Services The business known as Toyota Financial Services operates in over thirty countries around the globe and is the wholly owned financial services operation of the Toyota Motor Corporation. and Upromise(R), among others. Compete is headquartered in Boston, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New , with offices throughout the US. For more information, please visit http://www.compete.com. |
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