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Millennial Priorities Popularize Travel Influencer Marketing
A substantial increase in traveling in 2018 was forecasted by a survey conducted by The GO Group. 33% said they planned on traveling more in the upcoming year vs. 21% in 2016. Lower airfares have helped, but they’re not the only factor contributing to the rise in vacations. If bargain airfare isn’t the biggest reason, what is?
The once predominant baby boomer generation is now taking a backseat to the new players in town: Millennials. According to Pew Research, the Millennial population has officially overtaken boomers. Due to generational shifts, marketing strategies have adapted to cater to the masses.
A recent study by Stackla discovered that 70% of Millennials perceive social posts or reviews from family members and friends to be most impactful. Millennials are also the most tech-savvy generation so far, spending more time perusing online social media than any previous generation. These elements are a large part of the reason influencer marketing is growing so quickly.
Meanwhile, the priorities of Millennials & Gen Z are different than those of their predecessors. While baby boomers prioritized major purchases like homes and cars, Millennials tend to spend money on experiences, opting to try ziplining, surfing, or exploring a new country over a luxury vehicle. Millennials love to travel, and they are willing to splurge on it, making them the most lucrative generation for the travel industry. Travel influencer marketing has only fueled the fire.