Consumer sentiment is influenced by the news cycle, and hotel and entertainment brands will want to track which way the wind is blowing. Specifically, they’ll want to compare how news media articles match up with what consumers are saying.
We will discuss what news media market intelligence can tell us about emerging trends, and how it compares to what consumers are saying, including:
- How the news cycle is influenced by consumer sentiment and how they work together
- The travel industry yesterday, today and flying into the future
- How consistent monitoring can guide brands in real time – helping achieve the best for your company
Understanding critical statistics is just as valuable, as demonstrated here:
- 65% of all U.S. travelers are ready to travel
- 57% say they plan to drive for their first trip
- Consumer sentiment can change at any moment – brands who stay current can win consumer love
The Way the News Blows
The consumer and media space can shift dramatically due to world events, and 2020 is the year you do not want to underestimate. As even those who’ve stayed level with what the people want have lost their businesses this year. It’s just not a gamble to make right now.
NetBase News covers critical market intelligence via news articles, papers and blogs – and it completes searches in minimal time, providing you with pertinent information on your desired category, as well as key consumer sentiment information to compare it against.
For example, a timeline of news centered around travel is below. The green represents positive sentiment, while red is indicative of a negative emotion. Right away, we see large spikes around the end of August and a sizable dip mid-September.
We can select any point on the timeline for further exploration. Selecting August 27, we see a shift in thought around what traveling looks like, as this consumer points out that a “good road trip doesn’t have to be to far-flung places:”
Could the road trip or closer to home travels be emerging trends brought on by anxious consumers ready to return to normal? And how has this conversation changed over the past 9 months?
Travel Industry Sentiment Shifts We’ve Seen So Far
NetBase News is our eye in the sky for market intelligence, spotlighting emerging travel trends and the progression of consumer loves, hates, fears – and eagerness to hit the road.
The sentiment wheel below reveals top terms attributed to traveling and their connected sentiment. Love, Experience and Countries are among our positives, while Holiday, Travel Ban and Avoiding sit in our negative sentiment field. Luckily, our wheel allows us to explore these terms further, providing a timeline of conversation.
Exploring Experience and Life, brings up articles from October and November of last year on Tumblr. Both talk enthusiastically about traveling:
But as we get closer to March, we see the shift from enthusiastic to cautious, disappointed and then adamant about travel bans with consumers.
Recent Shifts Suggesting Armchair Travels & More
July market intelligence beings to show a variety of new approaches. We see people taking “armchair travels” by reading and allowing their mind to be their vehicle to unknown destinations:
Businesses offering a full refund if a consumer cancels. This was a big issue at the beginning of the pandemic – consumers lost money, and brands who weren’t consumer conscience lost loyalty:
Tips on traveling with less money – which is timely as 65% of all U.S. travelers are ready to travel even if they are a little cash poor:
Safety and responsible traveling:
And although the word cloud below shows some hesitancies, positives are plentiful:
People may be ready, yet sentiment is ever-changing depending on what’s happening in the world. It’s critical to monitor the weather inside your chosen segment’s ecosystem so your brand is staying up-to-date on emerging trends.
Consistent Monitoring to Capture Winds of Change
As Bob Dylan aptly said, “The times, they are a changing.’” And so is consumer sentiment, every hour and every day.
At the start of 2020, Health and Wellness Vacations were emerging trends to watch. The pandemic has highlighted the need for good mental and physical health as consumers felt isolated. There’s an “awakening” of what is truly important as a leading theme, this tweet from a potential consumer influencer speaks to:
And by applying themed interests of Health and Fitness combined with travel to our search, we can monitor the changing needs:
Posts that mention health and/or fitness combined with traveling are abundant.
Health and Fitness Subset
A blog on fitness and seeing the world around you while biking, running and walking appears– an opportunity for vacation destinations to appeal to these road warriors. And a Tweet from August of 2020 leads to an article posted before COVID-19, however it highlights timely reasons as to why New Zealand is the perfect destination for health. Traveling with dogs, staycations and traveling by vehicle as a vacation choice are also mentioned. The latter being a preferred method of exploration as 57% say they plan to drive for their first trip, while only 35% will fly domestically.
Applying themed narratives can identify emerging trends of love or hate about traveling. For this person, flying is the number one thing they hate – an opportunity for airlines to make fearful flyers more comfortable, encouraging booking.
And “I wish” shows a relevant post about travel insurance, which covers health while vacationing – something companies around the world might look into if they want to attract wary consumers.
These are just a few of the ways a brand can monitor changing sentiments around particular industries. Your choices are almost endless when it comes to whittling down the details, empowering your company to make the right choices at the right time. Contact us for a demo and so emerging trend analysis in your category, in action!