Have normal, will travel

Just a month ago, we asked consumers how much they planned to spend this summer on a variety of product categories. The answers surprised us—consumers said they planned to increase spending on products by 9%. But since then, something has caught the gaze of consumers’ wallets: wanderlust.

With household incomes increasing, savings rates starting to revert to the norm after a 60 (or more)-year high, the housing market starting to finally cool (albeit mostly at the high end)—consumers have holes burning in their pockets, just as pandemic restrictions begin to ease. This has unlocked historic demand for travel.

• 63% of US consumers plan to travel this summer.
  
  • An astonishing 40% plan to travel more than once.
    
  • This includes more than half (51%) of Millennials with more than one trip planned.

Travel-influenced product spending  

So, what does this mean for product purchases? We asked consumers: as a result of your planned travel spending, how much more or less are you expecting to spend on the following types of purchases this summer versus your normal spending habits? Here’s what they told us:

• Grocery, food & beverage will benefit the most—think eating out and cooking with family—at an astonishing average 32% higher spend planned.
  
• Apparel & footwear, at an average 16% increase, driven by new wardrobes for travel and to be seen in public again.
  
• Those hosting visiting family and friends are driving a 14% increase in household supplies
  
• Beauty, vitamins, supplements, and other personal care items benefit from a 13% average increase (we’re thinking especially those adorable travel-sized bottles).
  
• Interestingly, sporting goods saw the greatest decrease—despite being the category garnering the most attention from consumers earlier in the summer. We’d chalk this up to one-time large purchases made during promotions in May. Plus, if we’re being honest, kettlebells don’t travel well.
  

BOXpoll™ by Pitney Bowes, a weekly consumer survey on current events, culture,and ecommerce logistics. Conducted by Pitney Bowes with Morning Consult //2000+ consumers surveyed June-July 2021.© Copyright Pitney Bowes Inc.