Are We on the Road to a Blown Budget? A Majority of Americans Think People End Up Spending More Than Expected During Road Trips
- Nearly 4 in 10 (38%) people surveyed are planning an overnight road trip this summer
- 8 in 10 (81%) respondents plan to spend the same amount of money or more than last year
- Over 3 in 4 (77%) consumers surveyed indulge in food or drinks they would not normally purchase but enjoy while on vacation
AUSTIN, Texas, July 8, 2014 /PRNewswire/ -- Are road trips the most economical summer vacation option? According to recent surveys conducted by RetailMeNot (www.retailmenot.com), the largest digital offers destination in the United States, in conjunction with The Omnibus Company (www.omnibus.com), the vast majority of Americans surveyed (95%) believe that people typically end up splurging and spending more money than they planned to during road trips. Food/restaurants (72%) and gas (62%) top the list of expenditures, followed by hotels (40%) and entertainment costs (40%).
"Nearly 4 in 10 (38%) surveyed are planning to take a road trip this summer," says Trae Bodge, senior lifestyle editor for The Real Deal by RetailMeNot. "While the cost of traveling by car may seem cheaper compared to the cost of airfare, there are a variety of other factors to consider when budgeting for a road trip, like souvenirs, food costs, fluctuating gas prices and even car maintenance issues that often arise."
Almost all survey respondents (98%) who took a summer vacation last year plan to do so again this year and will spend the same amount of money or more on their 2014 getaways (81%). Parents (47%) are more likely than those without kids (27%) to spend more on vacations than last year.
Open Road, Open Wallets
Driving from town to town allows road trippers to set their own pace and explore new areas. It also creates more spending choices for travelers on a budget. One in 3 (33%) survey respondents imagine they'd stop for a souvenir from a specific town or attraction if they were on a road trip. In fact, 73% of respondents who have taken road trips report that they typically stop every two to three hours, if not more often. Parents are almost twice as likely than those without kids to stop once an hour or more (13% vs. 7%).
According to the survey, while on a road trip, people are likely to dine at local restaurants instead of chain restaurants whenever possible (41%), stop for a meal at a famous restaurant (39%), break for fun or an interesting activity (29%) or stop at retail stores or outlet malls along the way (28%).
The Hard Road
When thinking about a road trip, respondents say that staying within budget (50%), finding affordable gas (38%) and locating restaurants with good deals (17%) are the factors that they most commonly find hard to do.
- Those living in the South (42%) and Midwest (42%) are more apt than those in the West (35%) and Northeast (32%) to fear they wouldn't be able to find reasonably priced gas while on a road trip.
What keeps someone from taking to the open road? According to the survey, some of the most common reasons Americans shy away from road trips are a change in their financial situation (62%), a bad weather forecast (52%) and a rise in gas prices (43%).
- Women are more likely than men to reconsider a road trip due to financial changes in their lives (68% vs. 54%), concerns about vehicle condition (49% vs. 39%) and spikes in gas prices (46% vs. 40%).
The Hungry Traveler
Due to circumstance and convenience, people who take road trips end up eating out a lot. With an increase in dining out comes vacation's "guilty pleasures." Over 3 in 4 (77%) respondents indulge in food or drinks they wouldn't normally while not on vacation. Top guilty pleasures include ice cream (55%), baked goods (45%), chocolate (42%), pizza (35%) and alcoholic beverages (39%).
While travel expenses can add up on a road trip, there is hope for families looking to travel and enjoy local attractions and cuisines without breaking the bank. Travelers can download the RetailMeNot Coupons app and sign in to see nearby food offers at a variety of quick-service, fast-casual and fine dining restaurants along the way.
If you're planning a vacation, be sure to visit the RetailMeNot travel page to save on rental cars, hotels, airfare and more.
Using an email invitation and online survey, the July survey was conducted between June 11 and June 17, 2014 among 1,023 U.S. residents age 18 and over and the June Survey was conducted between April 22 and April 29, 2014 among 1,009 U.S. residents ages 18 and over. Quotas are set to ensure reliable and accurate representation of the entire U.S. population ages 18 and over. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. In these particular studies, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. The margin of error for any subgroups will be slightly higher.
RetailMeNot.com (www.retailmenot.com) is the largest digital offers destination in the United States. Our mission is to help consumers save money and enjoy a hassle-free discount shopping experience. Since November 2006, our users have shared hundreds of thousands of digital coupons from retailers. Digital coupons are rated and ranked by users, ensuring that quality deals rise to the top and expired coupons drop down the list. RetailMeNot.com is operated by RetailMeNot, Inc., the world's largest marketplace for digital coupons.
Shopping on the go? Download the RetailMeNot Coupons app for iPhone and Android phones or the RetailMeNot Coupons app for iPad to access hot deals, browse top coupons, popular stores and categories and get thousands of online and in-store coupons to shop when you want, where you want. Make sure to "like" RetailMeNot.com and authorize the RetailMeNot app on Facebook, follow the company via Twitter @retailmenot and add us on Google+. Consumers can sign up for RetailMeNot's Online and In-Store Coupons Newsletter by visiting: http://www.retailmenot.com/signup.
About RetailMeNot, Inc.
RetailMeNot, Inc. (www.retailmenot.com/corp/) operates the world's largest marketplace for digital offers. The company enables consumers across the globe to find hundreds of thousands of digital offers from their favorite retailers and brands. During the 12 months ended March 31, 2014, RetailMeNot, Inc. experienced more than 590 million visits to its websites. In 2013, RetailMeNot estimates $3.5 billion in its paid retailer sales were attributable to consumer traffic from digital offers in its marketplace. Its mobile apps have been downloaded over 16 million times. The RetailMeNot, Inc. portfolio includes www.RetailMeNot.com, the largest digital offer marketplace in the United States; www.RetailMeNot.ca in Canada; www.VoucherCodes.co.uk, the largest digital offer marketplace in the United Kingdom; www.Deals.com in Germany; www.Actiepagina.nl, a leading digital offer site in the Netherlands; Bons-de-Reduction.com and www.Ma-Reduc.com, leading digital offer sites in France; www.Poulpeo.com, a leading digital offer site with cash back in France; and www.Deals2Buy.com, a leading digital offer site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit: http://investor.retailmenot.com/.
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