I was intending to include the Domestic Sentiment Tracker: Profile Report, published 6 October, in yesterday’s general research update but belatedly thought better of it, as the research conducted by BVA BRDC on behalf of all the National Tourist Board deserves close examination and consideration in its own right.
Base on very recent consumer research, it deals with consumer sentiment over the immediate, critical 3 months October through to December 2022, or effectively the here and now. Given current circumstances it not unreasonably majors on the impact on consumer intent arising from the growing cost-of-living crisis. Although the research remit is to looks at both domestic and domestic outbound intent, this particular piece from VE is essentially about the UK domestic market.
These factors combined make this research report a particular valuable piece of timely intelligence for the majority of UK destination managers. It will almost certainly also have utility for your major businesses and for those businesses of any size or type that have a very clear understanding of their market’s socio economic and demographic profiles.
Much of the report’s detail will confirm what experienced destination managers and business owners will already instinctively know. However, unusually it provides credible, current, independent evidence immediately before the event which you can legitimately attempt to act upon now, resources permitting, rather than having the usual hollow pleasure of being able to saying “I told you so” after the event in this case, in a couple of month time.
While the report specifically asked questions around sentiment and intent up to 31st December, it isn’t unreasonable to assume that many of the findings or the conclusions that can logically be drawn from them, have continuing relevance into the normally much slower post-Christmas and New Year quarter. Although the research interviews were conducted very recently, it is worth noting that they still predates the even more recent mini budget and any increased economic pressures on disposable incomes arising from it. Unless there is any immediate marked improvement (unlikely), any conclusions drawn by the report or by you from it could/should perhaps be viewed as leaning towards best case?
As the report has an unusually short life span, I have not added a copy to our research library. The 50 odd page slide deck is both short and worthy enough to be scanned if not read in full. It can be accessed at: