RetailMeNot Shoppers Trend Report Reveals More Than 1 in 4 Americans Pay for Vacation Using Credit
A third of survey respondents plan to spend $1,000 or more per family member in vacation costs this year.
AUSTIN, Texas — June 28, 2012 — RetailMeNot.com (www.retailmenot.com), the largest online coupon site in the United States, released today the Summer Travel Edition of its Shoppers Trend Report. The survey, conducted jointly with Ipsos Public Affairs (www.ipsos.com), found that 74% of respondents plan to take a vacation this year. Although 32% of Americans surveyed plan to spend $1,000 or more per family member in costs, 68% of respondents do not pay or set aside funds for vacations in full before departure.
Key findings include:
· U.S. adults are fairly split when it comes to budgeting and paying for a vacation. Although a plurality (40%) of respondents report that they typically pay for part of their vacation ahead of time and then use a combination of cash/credit/debit for expenses incurred during the trip, as many as 28% of respondents usually pay for their vacation using credit.
· Almost one-third (32%) of adults surveyed are planning to spend at least $1,000 on vacation per family member this year, and one-sixth (17%) plan to spend upward of $2,500 per family member.
· One in seven working adults surveyed (14%) report that they do not receive any vacation or paid time off from work. For this group of Americans, the act of taking time off from work comes at a cost, before travel expenses are even incurred.
· When survey respondents were asked where they are most likely to spend the majority of their vacation budget outside of transportation and hotel costs, 38% expect meals and drinks to consume the greatest part of their budget, while 21% say they are likely to spend the majority of their vacation budget on entertainment, excursions and activities at their destination (e.g., tours, spa services and bike rentals).
· To save money on lodging during their next vacation, more than one-third (38%) of respondents indicate that they will consider staying with family and friends. Other cost-saving strategies include staying at an all-inclusive resort (25%) and renting a vacation home vs. staying in a hotel (25%).
· Nearly half (48%) of Americans surveyed do not typically tip housekeeping when they stay at a hotel.
o Respondents from the South are more than twice as likely as those from the Northeast to say they don’t tip the housekeeper (56% vs. only 25%).
o Among those who do tip, 44% leave at least $5, while a third (33%) tend to leave just a dollar or two.
· The survey also found that men and women have different vacation and spending habits:
o Men are twice as likely as women to splurge on vacation spending, saying they will spend at least $1,000 per family member for vacation this year (43% vs. 21% of women).
o A slightly higher percentage of males vs. females say that they typically tip housekeeping (56% vs. 49%).
o One in five (20%) women do not receive paid time off compared with just 9% of men.
To save money on summer travel, visit http://www.retailmenot.com/coupons/travel for travel coupons and discounts on vacation necessities.
Methodology for Ipsos Survey
These are some of the findings of an Ipsos poll conducted June 8–12, 2012. For the survey, national samples of 1,006 adults ages 18 and older from Ipsos’ U.S. panel were interviewed online, including 516 adults employed full or part time. Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the U.S. adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of 1,006 and a 100% response rate would have an estimated margin of error of +/- 3.1 percentage points. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
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