"The younger the traveler, the more important the price of the ticket. The older the traveler, the less the price matters." Logical, but why? We researched this and are happy to share our findings with you.
Younger travelers and price awareness
Recent research among 1756 respondents from across Limburg shows that younger travelers place more value on the price of airfare when choosing an airport compared to older travelers.
More than half of travelers aged 26 and younger indicate that price plays an important role in their decision. This percentage drops significantly among older respondents, with only 12% of those aged 70 and over considering price a significant factor.
Figure: Price as an influence when choosing an airport, by age category
Logical, but why?
Financial considerations weigh more heavily on younger travelers. But why does price play a larger role for this group than for older travelers? Here are three reasons:
- 1. Limited budget: Younger individuals, especially students and early-career workers, often have limited budgets. Their income is generally lower than that of older generations. For them, a cheap flight can mean the difference between taking a trip or not.
- 2. Flexibility and travel behavior: Younger travelers are generally more flexible. They seek the best deals and are less tied to specific travel dates or times. This makes it easier for them to find and select cheaper options.
- 3. Digital skills: The younger generation has grown up with technology and has better skills in using online tools and apps to find cheap airfare. Their ability to quickly and efficiently search for the best prices contributes to their price awareness.
Potential risks
However, there are risks associated with this focus on finding the cheapest fares. By fixating on ultra-low prices, younger travelers can end up on fraudulent websites. These cheap tickets are often offered on unverified platforms that are unreliable.
In summary
While younger travelers are highly price-conscious and airfare costs play a decisive role, older travelers pay less attention to price and prefer comfort and convenience.
This difference in priorities highlights the need for airlines and airports to tailor their offerings and marketing strategies to the diverse needs of their passengers.
By: Rico Valkenborgh | July 23, 2024
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