UK: UK consumers are set to spend £467 million this Travel Tuesday as they take advantage of big deals on package holidays, flights, accommodation and more.
According to The Shopping for Christmas 2024: The Black Friday Sales Report released by VoucherCodes.co.uk, sales are set to soar 7.3 per cent this Travel Tuesday, up from the £435 million spent last year.
Travel Tuesday first launched in the United States in 2017 as the term was supposedly coined by online booking platform Hopper after finding that the Tuesday after Thanksgiving was a profitable time to book flights. According to McKinsey & Company, search interest for ‘Travel Tuesday’ rose by more than 500 per cent from 2021 to 2023.
The phenomenon then came to the UK via TikTok last year, however, as the sales event gives consumers the chance to secure a discount getaway and travel firms offer their best deals.
The largest portion of spend is expected to go on flights with consumers splurging £241 million in one day alone [+6.4 per cent YoY]. This is followed by accommodation at £113 million [+10.4 per cent YoY], package holidays at £82 million [+5.8 per cent YoY] and experiences at £24 million [+0.2 per cent YoY].
Looking at spending on a channel level, unsurprisingly most consumers will be booking their bargain getaways from home, searching for the best deals online [£394 million]. Just £73 million will be spent in-store with travel agents.
Michael Brandy, senior commercial director at VoucherCodes.co.uk, said: “Travel Tuesday can be a great way for travel brands to boost sales between the busy summer period and January holiday bookings.
“The last-minute nature of the day means that most consumers will be splurging on European holidays and short breaks as they’re easier to commit to without much notice. Unlike families, solo travellers and couples can make decisions quickly and without too much pre-planning and research so they’ll be first in line to snap up any discounts,” he added.