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Why Travel Companies Should Focus on Vacation Membership for the Millennial Consumer
As VP of Sales at Vida Vacations, Kaloyan Valentinov Danchev keeps a close eye on the travel and tourism industry, monitoring the latest trends. Vida Vacations is a luxury destination club offering access to Mexico’s most exceptional resorts and vacation experiences, so Danchev has honed his skills in understanding what travelers want. He says that many of these trends continue to be set by the Millennial consumer – aka, the roughly 20- to 40-year-olds who dominate the US workforce with innovative ideas on everything from minimalism to natural products. Within the travel industry, the concept of vacation club membership is projected to be the next frontier when marketing to these adventure-loving, digitally savvy idealists. Danchev explains why:
1. The Novel Flexibility of Multi-Destination Travel Options
According to an October 2017 survey by L.E.K. Consulting, travel is America’s number one indulgence, with almost half of US travelers admitting to valuing travel more than material possessions. The Millennial is tasteful but also eclectic in their travel choices. Many of them enjoy immersive experiences at high-end resorts, but they might just as easily be found “glamping” in a yurt. It’s not about the money, they’ll say; it’s about the experience. Novelty is the key to unlocking their adventure-loving hearts.
The love of novelty and flexibility go hand in hand. Some Millennials want to return to the same spots trip after trip, while others would rather explore somewhere new with each vacation. The freedom to choose when, where, and how they take their vacations is hugely rewarding for Millennials, as is doing their own independent research prior to handing the reigns to a more experienced travel professional. One of the appeals of independent travel planning is having a large selection of possibilities to choose from on a regular basis – a luxury that many timeshares don’t permit.
Vacation club membership meets both these preferences by offering travelers a variety of destinations that they have access to within their club. Members can also use their membership to access resorts and destinations outside their club membership via qualifying exchange programs. This expands the list of available options to include affiliated programs in far-flung locations. In this sense, vacation club membership is like renting, rather than buying, multiple vacation homes for the price of one.
2. The Luxurious Simplicity of Vacation Memberships
Another thing that the Millennial traveler will appreciate about vacation club memberships are the add-ons, which can include anything from dinner reservations to theater tickets. Here’s where an experienced travel consultant is especially useful, as their relationships with other industry experts can benefit their travel clients all over the world. When clearly outlined and honestly delivered, Millennials are likely to pay more for a stress-free vacation that feels authentic and curated instead of trying to negotiate details like transportation in a foreign language or book a dinner for themselves in a crowded, unfamiliar local hot spot.
This gives travel companies a perfect opportunity to deliver superior customer service and satisfaction by providing high-end amenities, services, and experiences that make their clients’ vacations truly one of a kind. By tailoring memberships and vacations to suit each client, companies will feed Millennials’ desire for unique travel adventures, while providing them with useful elements that enhance their overall experience. Doing this will earn travel companies loyal Millennial customers who’ll not only appreciate their company but also submit positive reviews online.
Millennial travelers are looking for novelty, flexibility, luxury, and the simplicity that comes with superior customer service. Companies that offer vacation membership options with intriguing, exchangeable destinations, covetable personalized packages, and experienced travel consultants that care about the customers’ needs and desires will have no trouble attracting and retaining a high-end Millennial clientele.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.