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Tougher economic times have made it trendy to do more with less in almost every purchasing category, from retail outlets and check-out lines to car dealers and travel agents. According to the results of a third-party, Canada-wide survey released today by Travelzoo Canada, part of global Internet media company Travelzoo (NASDAQ: TZOO), the vast majority of Canadians (83%) say they always look for sales and rarely pay full price. When it comes to shopping for big ticket items, 32% bargain with the store manager or salesperson for a discount. If the deal is good enough, 62% will make it a topic of conversation with family and friends - and maybe even brag about it at a dinner party.
The Travelzoo Canada survey found that Canadians feel the economic slowdown has also made them more cost-conscious with their vacation planning. More than half (55%) say they won't book a vacation unless they get some sort of deal on the transportation, accommodation or food. Ontarians are above the national average, with 64% saying they won't book a vacation without some sort of deal.
With more than one million online subscribers to its weekly Top 20(R) travel deals newsletter, Travelzoo Canada finds, researches, verifies and publishes outstanding travel deals. Travelzoo Canada also leverages Travelzoo's worldwide network of travel deal experts to get the best content from local sources.
"Although saving money never really goes out of style, according to our survey results, Canadians seem to be embracing bargain hunting with a renewed sense of excitement, even pride. We have seen a 43% increase, equal to 300,000 new subscribers, to our Top 20 travel deals newsletter in the past 12 months alone," said Mandy Gresh, country manager, Travelzoo Canada. "Recently a British Columbia resort put together an outstanding deal with exceptional value and booked over 650 room nights in just seven days. This proves that consumers are still spending and will book travel very quickly, even in these tough economic times, but they need to be incented by value."
Bargain Travellers
Three out of four Canadians (75%) say they spend time online looking for travel deals before booking a vacation, especially those with children (81%). The majority of Canadians book their vacations more than a month in advance (51%), or in off or shoulder seasons (41%) to get the best deals. Some look for places that are not yet top tourist destinations (17%), while still others stick with the last-minute approach (10%) to get a deal. Only 12% say they will take a vacation at any time, and don't worry about getting a deal.
The Way It Makes Me Feel
Nearly three-quarters of Canadians (72%) say that getting a great deal makes them feel proud and triumphant. Almost half (48%) also say that getting a great deal is better than finding money in their pocket, with another 40% reporting that getting a bargain is better than getting out of a speeding ticket. Despite a tougher economy, 14% of Canadians said that if they really love something they will buy it right away, even at full price.
About the Survey
The survey was conducted between August 10 and August 12, 2009 using a national random sample of 1,534 respondents from Leger Marketing's Web Panel. This method simulates a probability sample which would yield a maximum margin of error of +/-2.5%, 19 times out of 20.
About Travelzoo
Travelzoo is a global Internet media company. Travelzoo's media properties, which reach more than 17 million travel enthusiasts in the U.S., Australia, Canada, China, France, Germany, Hong Kong, Japan, Spain, Taiwan, and the U.K., include the Travelzoo(R) website (www.travelzoo.com), the Top 20(R) list, the Newsflash(TM) e-mail alert service, the Travelzoo Network(TM), the SuperSearch(TM) search tool, and the Fly.com(TM) search engine. Travelzoo publishes offers from more than 1,000 advertisers from around the world. Travelzoo's deal experts review offers to find the best travel deals and confirm their true value. Travelzoo's global headquarters is in New York City.
About Travelzoo Canada
Travelzoo has operated in Canada since 2006. Travelzoo Canada's media properties, which reach more than one million travel enthusiasts, include the Travelzoo Top 20(R) email newsletter, the Newsflash(TM) email alert service, and the Travelzoo(R) website (http://www.travelzoo.ca). Travelzoo Canada is headquartered in Toronto.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words "expect", "predict", "project", "anticipate", "believe", "estimate", "intend", "plan", "seek" and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.
SOURCE: Travelzoo Canada
Media Contacts: Lisa Mills, Environics Communications, (416) 969-2831, lmills@environicspr.com
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