Package bookings up by nearly 10% over Christmas and new year period
Ilaria Grasso MacolaPackage bookings grew strongly over the Christmas and new year period according to new analysis of consumer spending data.
During the four weeks to 10 January, operators – including Tui, Virgin Holidays and Jet2holidays – recorded a 7% increase in transaction volumes compared with the same period during the 2022/23 festive season.
Elsewhere, airlines such as British Airways and Virgin Atlantic, have reported a 13% increase in spending as well as a 15% uptick in transaction volumes, while budget carriers recorded a 3% increase in spending a 2% hike in transaction volumes.
The data underlines the findings of recent research commissioned by eDreams Odigeo, which showed the vast majority of UK consumers are continuing to prioritise travel spending over everything else.
The data, based on analysis by Cardlytics of more than 20 million UK bank accounts, did – however – reveal a 5% year-on-year reduction in average transaction value.
An accompanying survey, meanwhile, revealed too that while Brits are keen and willing to spend on travel, they were seeking ways to cut costs.
Three-quarters of the 2,000 respondents planning a trip this year (76%) said they believed costs had increased. To combat this, nearly two-in-five (39%) said they were likely to use comparison sites to find the best deals, while a third said they would look to book direct.
Two-thirds (67%) said they would shop around, while nearly half (48%) are looking to book early to lock in lower prices. Staycations are rebounding too, with 44% planning to holiday in the UK.
"While overall volumes of transactions are up, individual consumers are still spending cautiously, with most seeking the best possible deals and promotions on the market before booking,” said Hannah Collins, Cardlytics partnership director for travel.
“Holidays might be back, but competition will be richer than ever so it’s critical to ensure brands do what they can to set themselves apart from the rivals."
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