PRESS RELEASE
January 2024
The MODIV Group, a professional and managed services firm specializing in travel and hospitality, is excited to publish compelling findings from our most recent Mindset Research, a survey of nearly 25,000 travelers globally which aims to provide travel brands with rapid, actionable information evolving traveler expectations in commercially viable ways.
This timely report uncloaks the rising significance of trust in travel brands amidst today’s unpredictable travel landscape.
Key takeaways from the research include:
- Trust in travel brands emerges as a decisive factor for travelers when selecting one brand over another.
- Brand trust features in the top three reasons why respondents opt for a specific travel brand, emphasizing its importance in consumer choice.
- In the evolving travel scenario, 8 out of 10 travelers expect trust to considerably escalate in relevance over the forthcoming 18-24 months.
- Demonstrating the tangible value of trust, our research found that 7 out of 10 travelers are prepared to spend significantly more for a travel brand they have confidence in.
- A staggering 81% of travelers are actively seeking ways to back travel brands they trust, indicating a new trend in consumer behavior.
- Our findings also show that information and consistent communication from travel brands wield a strong influence on traveler trust, making it crucial for brands to maintain transparency.
- Building on this belief, MODIV proposes that information becomes a critical currency for travel brands to invest in, to cultivate and solidify trust.
- These findings underscore the imperative for travel brands to prioritize trust-building in their strategies. We welcome you to engage in this important conversation around trust using these insights.
To access the MODIV Mindset: Trust report, click here.
For more information on the report findings or MODIV Mindset, please contact us directly: hello@themodivgroup.com