The travel industry is facing some headwinds headed into the peak season for getting away from it all.
Inflation’s still with us, and several recent economic reports from the likes of the University of Michigan and the Federal Reserve have shown that consumers across all age groups and income levels expect inflation to accelerate through the near term. Discretionary spending, as a result, will likely be pressured as purchasing power is eroded somewhat and as households seek to pad their savings whenever and wherever possible.
In terms of the preferred payment methods consumers use when they choose to spend, credit cards are popular when spending online. PYMNTS Intelligence has noted that the security of credit card transactions in anonymous transactions is a key feature that is prized; cardholders also value the loyalty and rewards offerings that are attached to those cards.
Browsing, Booking, Buying
For the issuers and the various stakeholders in the travel…
