Summary:
- Millennials lead global travel retail, spending $151 per trip, according to m1nd-set.
- Baby Boomers fell from 30 percent to 9 percent of travelers, spending $107 per trip.
- Millennials dominate business travel, but Gen Z’s strategic importance remains.
MILLENIAL BUSINESS TRAVELERS lead global travel retail spending, averaging $151 per trip versus the $128 global average, according to m1nd-set, a Swiss travel marketing research agency. Baby Boomers dropped from nearly 30 percent of travelers pre-pandemic to 9 percent, with an average spend of $107.
The m1nd-set study found millennials aged 29 to 44 now make up nearly 40 percent of global business travelers, highlighting their influence on travel retail. It urged brands and retailers to adapt to changing digital preferences and values.
“A key finding of this research is the importance of staff engagement in influencing Millennial shoppers,” said Peter Mohn, m1nd-set owner and CEO. “Millennials are more open to staff recommendations in store. More than eight out of ten who interacted with staff report being positively influenced, compared to just over six out of ten Boomers.”
Millennial travelers are also more price-savvy, using digital tools and comparison channels more than older travelers, the study found. They engage more with duty free communications before travel, particularly via social media and inflight touchpoints.
While Millennials drive current revenue, the report warns of upcoming generational shifts. Gen Z, expected to be the largest passenger group by 2028, is already shaping consumption trends.
Mohn said that while Millennials lead business travel, stakeholders should not overlook Gen Z’s strategic importance.
“Millennials dominate spending today, but Gen Z represents a much larger global population and will become the largest air passenger group by 2028,” he said. “This generational shift makes it essential for brands and retailers to adapt strategies now. With the right mix of experiences, service and digital-first approaches, retailers can harness Millennial spending today while building loyalty with Gen Z tomorrow.”
A separate survey by Cox Business found that staying connected remains a key priority for Gen Z and Millennial professionals while traveling.
