US: Professional services network PwC has released its 2019 Holiday Outlook, which analyses the predicted spending behaviour of more than 2,000 consumers in the United States during the peak holiday season.
The PwC report revealed consumers are feeling increased optimism when it comes to spending on their travels this year, with 86 per cent of respondents saying they will spend the same or more this year than they did in 2018. This includes average spending of $1,284 on gifts, travel and entertainment, a rise by 2.7 per cent compared to last year.
Those with the biggest expenditure in the survey were holiday travellers, university [college] graduates and telecommuters, with millennials in particular driving the increased spending trend.
While the majority of travellers said they would be staying in branded hotels or with relatives or friends, short-term rentals are rapidly gaining in popularity as many of the demographics look for alternative accommodation to traditional hotels. As a result, hotels are combining aspects of luxury villas and tech-charged properties that cater to the needs of a wider traveller demographic.
At the same time, retailers are looking to get on board with the guest experience trend by taking their first steps into the hospitality space and working with hotels and restaurants to promote their products to broader audiences.
For more information, view the full PwC 2019 Holiday Outlook here.