The impact of inflation and surging gas prices, the future of transportation and the effect of travel disruption on clothing purchases. That and more on today’s episode.
Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s President and CEO Carla Buzasi takes us to Los Angeles, New York and London for a special episode on the travel industry. Hear from the friendly faces of our Insight, Mindset and Fashion teams.
Watch the full episode below or read on for highlights of this episode:
Q: With inflation and gas prices at an all-time high, what does this mean for the future of travel?
“Rising travel costs are going to push consumers to seek out alternative payment methods. Subscription-based methods and subscription programmes became really popular during the pandemic; this was at a time when global restrictions seemingly changed on a dime. For a monthly fee, these programmes offered the flexibility for cancellation of flights, hotels, rental cars…”
– Allyson Rees, Senior Strategist, WGSN Insight
Q: What are the emerging innovations that will support the future of travel and how is transportation changing?
“The future of transportation is exponentially growing, with new innovations emerging in the automotive industry. Electric transportation is expanding beyond cars. We’re hearing a lot about electric vertical takeoff and landing as well as the investments going into those startups.”
– Danny Kim, Senior Consultant, WGSN Mindset
Q: How do you see travel disruption affecting vacation outfit shopping?
“News of airline and port chaos, flight cancellations, lost luggage. The stories across global markets have put all vacationers on high alert. Holidaymakers are in survival mode. Many are going to be focused on preparing to get through that initial getaway period unscathed. Beyond that, it will be interesting to see how many of the rental and resale operators look at repositioning to offer market solutions in-destination that could deal with pick-up and drop-off wardrobing for vacationers.”
– Lorna Hall, Director of Fashion, WGSN