Media Release: Survey finds US Consumers Eager to Attend Live Events, Signifying Positive Impact on Economic Recovery
Survey: US Consumers Eager to Attend Live Events, Signifying Positive Impact on Economic Recovery
‘Vaccine Impact Report: The State of Travel and Live Events’ finds 75% are planning a trip or attending major events within the next six months'
SAN FRANCISCO, CA. – April 14, 2021 – PredictHQ, the demand intelligence company, today announced findings from its Vaccine Impact Report: The State of Travel and Live Events study, that found people are eager to get back to traveling and attending live events and many are likely to attend an event of more than 1,000 people in the next 3 to 6 months. The study, of 1,500 US consumers, also found that over half of respondents are so confident in the vaccine that they’re definitely planning on attending in-person/live events after vaccination.
“With the return of live events and travel, comes an uptick in demand for hotels, restaurants, and ride shares––all industries that will be encountering their biggest spikes in demand since the start of the pandemic,” said Campbell Brown, CEO at PredictHQ. “While this recovery will be sustained, it will also be chaotic and highly fragmented so there's an urgent need for a way to be real-world aware and able to quantify the unpredictability as we anticipate the return of concerts, festivals, and other attended events. Our eagerness to socialize means it’s worthwhile for businesses to know which events are coming back the fastest so they can accommodate their consumers accordingly. Businesses within hospitality, transportation, food sectors and more can use forecast-grade data and predictive analytics to make sure they’re fully prepared for this rapid influx.”
Vaccination Plans Show Optimism for Lifestyle Change and Increase in Demand for Travel
A majority of consumers surveyed reported that they plan to get vaccinated and will change their lifestyle afterwards:
70.33% say they are planning on getting the COVD-19 vaccine
78.2% of US consumers say their lifestyle will change once they receive the COVID-19 vaccine
This lifestyle change includes an eagerness to attend live, in-person events and plans to travel:
71% of consumers are looking forward to attending large events again
45% of men say they will make “major” changes to their lifestyle while only 24% of women will do the same
58.13% say they are more likely to attend a live or in-person event after being vaccinated
47.6% say they are more likely to attend an event of more than 1,000 people
75% are planning a trip or to attend major events within the next six months
In fact, we might expect to see a rise in travel and accommodation demand peak post-COVID as early as July, as nearly 50% of respondents are planning an event or trip either as soon as possible or within the next 3 months.
The Post-Covid Business Travel Boom
There is a proven, direct link between a country’s incoming business travel and the growth of new and existing industries. While the COVID-19 pandemic’s impact on business travel was expected to affect employment and economic growth in some communities for years, US consumers in PredictHQ’s Vaccine Impact Report: The State of Travel and Live Events found:
25% of respondents age 24-44 have “missed traveling for work”
Nearly half (48.67%) of respondents report that they will travel by plane for a work event
51.33% would be willing to travel for a work event, only if they had to
Predicting Demand in a Dynamic World
As the COVID-19 vaccine rolls out, this study shows that in-person events and travel are making a comeback—and economic recovery will depend on ways brands can accurately measure specific demand.
“To predict demand in a dynamic world, businesses need data that is global, high quality, accurate, timely, and enriched with the factors that impact demand,” continued Campbell. “Demand intelligence data helps businesses glean know exactly which events are returning and where, as well as how they will cause demand anomalies across industries from hospitality and travel, to food delivery and ridesharing, playing a pivotal role in the world’s economic recovery.”
PredictHQ, the demand intelligence company, empowers global organizations to anticipate changes in demand for their products and services. PredictHQ’s demand intelligence API aggregates events from hundreds of sources and verifies, enriches, and ranks them by predicted impact so companies can proactively discover catalysts that will impact demand. With PredictHQ, businesses gain a leg up on the competition and remain confident in their ability to meet customers’ ever-changing needs.