The percentage of baby boomers out of the total travelers is increasing. The boomer population is trending toward more total annual trips than any other age group. Because they have high levels of disposable income, they are financially able to travel extensively.
This becomes particularly important to your bank travel program’s ability to attract a favorable demographic for the many banking, credit, investment and insurance programs the bank offers. Forming loyalty bonds with the 47-67 age group is a formula for long-term customer success.
Here are four boomer travel trends to consider in your bank travel planning and programming:
Trend No. 1: Girlfriend getaways and guys-only trips are continuing to grow in popularity. Leisure bookings by small groups of friends have increased dramatically. Consider the fact that many popular destinations are now offering “mancation” travel packages that include exciting times with a group of long-time friends or neighbors.
Trend No. 2: Multifamily travel vacations are becoming more popular. Boomers are highly likely to travel with children under the age of 18. The logistical significance is that they will want travel plans to include adjacent rooms, connecting suites and other conveniences appropriate to families. Grandparent and grandchildren travel is a significant part of this equation.
Trend No. 3: Having “meaningful” travel experiences aligns closely with characteristics and traits of the boomer generation. Growing interest in travel for health and wellness reflects the hunger for life meaning. Boomers seek new and innovative travel experiences in this area. The search for meaning will be accentuated by retiring boomers seeking new opportunities for fulfillment.
Trend No. 4: Boomers are traveling based on health issues. A do-it-yourself approach to health is among the top consumer trends for the coming years, according to www.trendwatching.com.
Experts see health as having major implications for the travel industry. Consumers are going to great length to find products, services, treatments and experiences that promise overall well-being but that are also fun, interesting and accessible. Wellness-related tourism, from yoga retreats to undergoing complicated medical operations, is a great example of this specialized trend.
The challenge is producing meaningful programs and convincing your bank management of the value of these programs in building your loyalty group.
For information about bank sales training programs, contact Sullivan at email@example.com or 704-554-7863 or visit www.linkedin.com/in/michaelpsullivan50plus.