Source page: McKinsey & Company
Commentary
I need a vacation
Travel | Artificial Intelligence
October 18, 2023 – Consumers are hot to travel—which means companies in the travel industry would be wise to look for growth opportunities, according to a recent report by senior partner Ben Ellencweig and coauthors, in collaboration with Skift Research. When asked how they intend to splurge over the next three months, consumers ranked travel behind only restaurants and groceries. Travel companies could look to technology innovation, particularly AI, to improve customer experiences and create value.
To read the report, see “The promise of travel in the age of AI,” September 27, 2023.
customizer here
Visual form
Ranked horizontal bar chart. It presents a consumer spending priority list.
Layout / body structure
The chart is a single column of bars running top to bottom, with categories listed on the left and the reading direction flowing straight across each row. It is meant to be scanned from the highest-ranked categories at the top downward through the rest of the list.
What is being compared
It compares where consumers intend to treat themselves over the next three months across travel and nontravel categories such as restaurants, groceries, apparel, beauty, entertainment, electronics, home items, fitness, household essentials, and vehicles.
Measurement system
The unit is percent of respondents, based on a sample of 4,000 people. The measure is stated intention to splurge, not actual spend.
Visible structure inside the graphic
The bars are stacked vertically as a ranked list, with each category occupying one horizontal row. The arrangement makes ordering more important than fine-grained numerical gaps and lets the eye compare travel against categories immediately above and below it.
Main takeaway from the visual
Travel sits near the very top of the splurge list rather than in the middle of the pack. The ranking shows that travel is one of the strongest near-term discretionary priorities, trailing only the everyday leaders placed above it.
Key standout values or extremes
The standout ordering is the top trio of restaurants, groceries or food for home, and travel. Travel clearly lands above apparel, beauty and personal care, footwear, out-of-home entertainment, electronics, home items, fitness, household essentials, and vehicles further down the list.
Controls / sequence, when applicable
This is a static chart image with no in-chart controls to operate.
Companion media, when applicable
There is no separate companion audio or video; the chart image is the full visual on this page.