Consumer trends are rapidly changing. And the leading travel and leisure companies are taking innovative steps to stay ahead. Here’s how the top travel and leisure brands are responding to consumer trends in the new reality.
To say the pandemic has been challenging for the Travel and Leisure sector would be an understatement. Due to the social underpinnings of the sector, it is often the first to go into lockdown and the last to come out of restrictions. It is the most vulnerable to changes in consumer confidence. And it is generally asset-heavy, making full shut-downs particularly difficult to absorb.
The development and rollout of vaccines is clearly a positive development and a signal that, eventually, the sector will turn the page on this challenging era; we see light at the end of the tunnel. Yet the future shape of the sector will depend on how the experience has changed consumer preferences, behaviors and needs – and how much of that change is permanent.
That is why, since the initial phases of the pandemic, KPMG International has been surveying consumers (some 75,000 of them across 12 markets globally) to find out how their preferences and behaviors have changed. Throughout, we’ve been tracking their thoughts on the Travel and Leisure sector.