Millennial Mix, a full service insights company focused on helping companies understand millennials, and Fieldstone Equity, a private equity and advisory services company, published a new, survey-based whitepaper, “Millennial impact on the Travel Industry: A Lifetime Value Perspective”, that shares a new framework of analyzing millennials and their value to the travel industry. The paper draws upon a survey of 1,000+ millennials and provides insights into key drivers such as technology and the passion for travel that contribute to the overall lifetime value of millennial travelers, and also highlights key implications to the industry for companies on the travel value chain that may have to pivot to capitalize on the opportunity. According to Mark Abe, Partner at Fieldstone Equity, “There has never been a better time than now for companies to engage millennials and position themselves to capitalize on the $150 billion opportunity among millennial business and leisure travelers. Those companies capable of making this pivot stand to benefit from a lifetime relationship with this next generation of travelers.”
Furthermore, the research highlights the different millennial consumer segments that have higher travel spend versus other segments. “It’s important to note that all millennials are not the same and our research clearly shows that millennials have integrated travel as one of the base components of their lives and plan to continue to prioritize travel as they move forward through different life stages.” According to Sima Vasa, Advisor to Millennial Mix.
The paper has recommendations and call to action points for all players in the travel industry.
For more information or a copy of the full whitepaper please see contact details below.
