Travel sentiment strong

REDBALLOON CEO David Anderson believes consumer sentiment toward the travel industry has not changed, citing his company’s quick bounceback from a brief pandemic-related downturn (TD yesterday).

Speaking to Travel Daily, Anderson said RedBalloon had been able to normalise its own demand against available data, which has revealed important details about traveller intentions.

“Consumer sentiment hasn’t changed,” Anderson insisted.

“Yes, they’re restrained by the government and there are restrictions to mobility, but we’ve seen a high correlation between demand relative recreation and retail mobility within the states.

“What we’ve seen over time is demand starting to outstrip mobility...the experience economy is still a viable and growing economy...if not actioned upon today the appetite to do so is integrated.”

Anderson said the lack of projected overseas travel in 2021 created a “captive market” for potential customers, with current interstate travel restrictions playing into its brand.

“Beyond that we’re also seeing ourselves go through a glass ceiling in terms of e-commerce adoption and mobile traffic rates, which have never been higher.

“We’re now seeing an older generation buying online for the first time so we’re seeing new audiences come to us as well.

“While metro consumer rates remain relatively low there is a demand to get out into the country.

“If someone goes to do a hot air balloon ride in the Hunter, they stay overnight, they have dinner, we estimate there to be a 10-times multiplier compared to what they spend on the hot air balloon ride,” Anderson said.