According to the Amex Trendex, a trend report from American Express, consumers surveyed in the U.S. are anticipating spending more time at home this fall as back to school approaches and work from home practices continue. With this in mind, they’re spending to enhance their remote learning and work environments. The majority of consumers surveyed also note they are missing travel right now, and for nearly half of those surveyed, it’s taking an emotional toll, causing increased stress and anxiety.
Adapting for the School and Work Year Ahead – The way parents are preparing for back to school season is evolving to meet changing demands. In fact, 55% of parents surveyed are considering co-parenting with another family to help ease childcare responsibilities while they navigate working remotely. Parents are also investing in their work from home and remote learning experiences. In lieu of the typical back to school items, they’re planning to spend more on technology (30%) and workspace enhancements such as office furniture (27%). Due to the challenges they have already navigated over the past several months, the majority of parents (75%) feel prepared to adapt to any changes ahead.
Emotional Toll of Not Traveling Continues; Consumers Look to Increased Health and Safety Procedures from Travel Providers, Premium Services and Flexibility to Feel Comfortable Traveling in the Future – Nearly half (48%) of consumers surveyed believe not being able to travel right now is making them feel anxious and stressed and 3 in 4 consumers (78%) say travelling is one of the top activities they miss the most right now. However, as the summer comes to an end, consumers remain hesitant to travel, with only 10% planning to travel for Labor Day weekend . Despite spending more time at home together over the past few months, consumers are still eager to travel with members of their households (67%) compared to traveling by themselves (10%) once restrictions are lifted. When it comes to booking travel, premium services including direct access to speak with a real person over the phone to help with travel related inquiries (77%), flexibility (25%) and cleanliness standards (19%) remain top of mind and will play an integral role in instilling confidence for consumers to travel in the future.
What is the Amex Trendex?
The Amex Trendex is a new, trend index that tracks how consumers, small businesses, and merchants are feeling about spending, saving, traveling and more. Data will be sourced on a monthly basis in the U.S. and bimonthly globally, including in the U.K., Australia, Japan, Mexico and Canada.
This online poll was conducted by Morning Consult between July 21 and July 23, 2020 among a national sample of 2,000 general population travelers with a household income of at least $70K, and defined as adults who traveled by air at least once in 2019. Results from the survey have a margin of error of plus or minus 2 percentage points.
From Amex Trendex
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