Latest news with #ShikhaJain
The Herald Scotland
15-05-2025
- The Herald Scotland
Report finds luxury travel demand is strong amid economic uncertainty
"The Luxury Travel Report by Preferred Hotels & Resorts reveals that today's affluent travelers are investing not just money but meaning into their journeys," the brand said in a news release. "Luxury travelers seek immersive, curated experiences that feel personal and enduring - avoiding generic, mass-produced offerings in favor of authenticity and emotional connection." Luxury travelers plan to spend more on travel Over half of respondents - 55% - plan to spend more on leisure travel in 2025 than they did last year. The survey found 29% expect those costs to amount to $50,000 or higher for the year, while 34% anticipate spending between $25,000 and $49,999 and 38% said that figure would be less than $25,000. That doesn't mean they aren't feeling financial pressures. Per the report, "75% of luxury travelers adapted their travel habits in response to rising costs" and an unclear economic picture. Those tactics include offsetting costs through memberships and loyalty points (47%), traveling to high-end hotels during the off season (36%), and putting quality over quantity of trips (32%). What else are luxury travelers looking for? Travelers were also polled on their travel priorities, from the types of trips they're taking to the hotels they're looking for: Ninety percent had one or more international trips planned, with France (25%), Italy (23%) and Canada (20%) among the most popular destinations. All-ages trips were on the agenda for many surveyed, with 71% of respondents taking at least one multigenerational trip within the next year. Respondents were looking for character in their accommodations. Among those surveyed, 67% agreed that "modern luxury hotels have sacrificed soul for standardization," and close to three quarters said they wouldn't pay for generic-looking luxury lodging. Travelers were also intent on connecting with the past. The report found that 95% wanted to integrate "historic experiences" into their trips. The full report is available here. Age and inflation concerns affect travel plans A separate report from the consulting firm Simon-Kucher found travel looks different across generations. It found that while younger generations frequently opt for affordability over luxury when booking travel accommodations, only 32% of Baby Boomers are willing to do the same. Shikha Jain, a partner at Simon-Kucher, said that's not surprising as those post-retirement are likely to spend more on comfort while younger travelers are more focused on experiences outside of their hotel rooms. Jain said consumer expectations around tariffs might also be playing a role in vacation planning. She said while some high net-worth travelers would be somewhat immune to price hikes, some fear predicted higher inflation could lead to wage increases that drive up the cost of services and travel in the future. "They are buying joy, control, and comfort before those types of experiences get expensive," Jain said. "They are bracing for a future where premium is more expensive and less accessible." Despite inflation easing to a four-year low in April, consumer confidence continued to fall as Americans perceive risks in multiple aspects of the economy, citing uncertainty around trade policy and concerns that inflation could resurge.
Yahoo
29-03-2025
- Business
- Yahoo
AT&T is making cuts to its autopay discounts in April. Ways you can still save
AT&T confirmed this week it will cut its monthly autopay discount for some customers following similar moves by T-Mobile and Verizon, but there are still ways to save on your phone and internet bill. Starting April 24, AT&T customers enrolled in autopay and the carrier's paperless billing discount program with an eligible debit card will receive a $5 rather than a $10 discount. Customers enrolled using any credit card that is not the AT&T Points Plus credit card will no longer receive the discount. However, customers enrolled with a bank account will continue to receive the $10 discount for eligible internet plans and $10-a-month discount per phone line for eligible wireless plans, an AT&T spokesperson confirmed to USA TODAY. The move is the latest aimed at nudging consumers to pay with a bank account to avoid credit card processing fees and reduce credit card disputes, transaction failure and rates of fraud, Shikha Jain, a partner at the commercial growth consulting firm Simon-Kucher, told USA TODAY. It comes after the big three telecommunications companies already lowered autopay discounts for customers paying with a credit card. "We are seeing businesses become more urgent trying to find ways to protect margins, drive up sell, reduce operational costs, while trying to minimize consumer backlash," Jain said. "It's easier to reframe a discount than to justify a price hike." More: Trump announces 25% auto tariffs. What it means for your next car purchase While the most obvious way for AT&T customers to continue saving money is to switch their payment method to a bank account, Shikha Jain, a partner at Simon-Kucher, said consumers also have other options to capture savings. "These rules are all designed to cut costs, reduce risk and improve customer profitability without raising base plan prices," Jain said. "But savvy consumers still have levers that they can pull." She suggested consumers should look for perks in the small print of their contracts and benefits they aren't taking advantage of. These might include making use of promotions bundling your internet and streaming services, or stopping payments for data features you don't need. "Sometimes it's about calling customer service and finding ways to negotiate better rates and get deals but you have to ask," Jain said. Similar surgical cost-saving measures as well as moves to boost customer loyalty are happening in other industries as streaming platforms like Netflix cut password sharing and airlines promote branded cards that come with discounts or perks. Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_ This article originally appeared on USA TODAY: AT&T will cut autopay discounts. How can you still save?
USA Today
27-03-2025
- Business
- USA Today
AT&T is making cuts to its autopay discounts in April. Ways you can still save
AT&T is making cuts to its autopay discounts in April. Ways you can still save Show Caption Hide Caption AT&T and T-Mobile change autopay discount requirements The two wireless carriers have joined Verizon in requiring a debit card or bank account instead of a credit card for their autopay discounts. Cover Media - Shareable AT&T confirmed this week it will cut its monthly autopay discount for some customers following similar moves by T-Mobile and Verizon, but there are still ways to save on your phone and internet bill. Starting April 24, AT&T customers enrolled in autopay and the carrier's paperless billing discount program with an eligible debit card will receive a $5 rather than a $10 discount. Customers enrolled using any credit card that is not the AT&T Points Plus credit card will no longer receive the discount. However, customers enrolled with a bank account will continue to receive the $10 discount for eligible internet plans and $10-a-month discount per phone line for eligible wireless plans, an AT&T spokesperson confirmed to USA TODAY. The move is the latest aimed at nudging consumers to pay with a bank account to avoid credit card processing fees and reduce credit card disputes, transaction failure and rates of fraud, Shikha Jain, a partner at the commercial growth consulting firm Simon-Kucher, told USA TODAY. It comes after the big three telecommunications companies already lowered autopay discounts for customers paying with a credit card. "We are seeing businesses become more urgent trying to find ways to protect margins, drive up sell, reduce operational costs, while trying to minimize consumer backlash," Jain said. "It's easier to reframe a discount than to justify a price hike." More: Trump announces 25% auto tariffs. What it means for your next car purchase Ways to continue saving on phone and internet While the most obvious way for AT&T customers to continue saving money is to switch their payment method to a bank account, Shikha Jain, a partner at Simon-Kucher, said consumers also have other options to capture savings. "These rules are all designed to cut costs, reduce risk and improve customer profitability without raising base plan prices," Jain said. "But savvy consumers still have levers that they can pull." She suggested consumers should look for perks in the small print of their contracts and benefits they aren't taking advantage of. These might include making use of promotions bundling your internet and streaming services, or stopping payments for data features you don't need. "Sometimes it's about calling customer service and finding ways to negotiate better rates and get deals but you have to ask," Jain said. Similar surgical cost-saving measures as well as moves to boost customer loyalty are happening in other industries as streaming platforms like Netflix cut password sharing and airlines promote branded cards that come with discounts or perks. Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_
