4. Travel & Luxury

Click below to see how consumers are approaching travel and luxury purchase decisions.

78% of consumers will likely opt for a non-luxury vehicle, though less than half are in-market for one.

39% of consumers globally prefer staying at hotels when travelling.

Consumers generally opt for mid-range hotels (3 stars) and 60% choose economy seating on flights. Home rentals, however, appeal to a wide range of high and low-spending consumers.35% of Gen Z are interested in home rentals like Airbnb or VRBO compared to 24% of Boomers.Spending power is not an indicator of vacation choice. Those who “easily meet monthly expenses” were just as likely (27%) to opt for a home rental as those who find it a challenge (25%). Those with more spending power are more likely to choose a 4 or 5 star hotel (55%), however.