Holiday buying patterns have changed permanently during the recession, according to market analyst PricewaterhouseCoopers.
Retail and consumer partner Mark Hudson told The Travel Convention: “The consumer has fundamentally changed.” He said the value sector in every industry was expanding faster than any other – from Aldi in groceries to Ryanair in travel – as shoppers trade down and target special offers.
Research among 2,000 consumers suggested large numbers are trading down, buying less and buying clever, said Hudson.
His colleague Malcolm Preston said: “Consumers buying clever represents a permanent structural change. They are spending more time checking prices, using the internet and promotions.”
Preston said: “Adjusting would mean understanding what value means to the customer and having people who can deliver it.”
But he said airline passengers would probably trade back up when the recession was over.
However, TUI Travel UK customer director and ABTA board member Tim Williamson said: “People look for value when they are desperate. But when that urgency disappears, they value time as well as money. People will return to more normal patterns.”
- More Travel Convention coverage at travelweekly.co.uk/abta2009