Summer travel will be bigger than ever, but vacationers are thinking small

For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

Key stat: Some 29% of US adults are planning less expensive trips this summer due to inflation, according to Bankrate. Slightly fewer (28%) expect to engage in cheaper activities as inflation, which has cooled slightly, wears on.

Beyond the chart:

• Inflation slowed to 0.1% in May, according to the personal consumption expenditures index, suggesting that the worst price hikes may be behind us.
• With gas prices dipping, more people than ever are expected to travel this Fourth of July, per AAA’s forecast.

Use this chart:

• Tailor messaging to consumers’ summer behaviors.
• Brainstorm discounts and deals accounting for inflation.

More like this:

• Amazon Prime Day is a bellwether for the 2023 holiday season
• Luxury spending decelerates as US consumers focus on savings and travel
• Grocery shoppers still cutting back even as inflation cooled in May
• Loyalty programs struggle to balance deals and margins as inflation lingers

More Chart of the Day:

• 6/30 - CTV gains on mobile
• 6/29 - Beauty and the bucks
• 6/28 - Corner the marketplace
• 6/27 - Where Gen Z buys
• 6/26 - The CTVerse

Methodology: Data is from a March 2023 Bankrate Survey conducted by YouGov. 2,461 U.S. adults were surveyed online during March 29-31, 2023. Of the 2,461 U.S. adults surveyed, 1,554 are likely to take at least one summer vacation this year.