Total consumer spending on bookings in March grew 28% compared to the same time in 2019, according to the Adobe Digital Economy Index, which measures direct consumer transactions from six of the top 10 U.S. airlines.
domestic flightTotal consumer spending on domestic bookings in March grew 28% compared to the same time in 2019, according to the Adobe Digital Economy Index, which measures direct consumer transactions from six of the top 10 U.S. airlines. In the first three months of the year alone, consumers already doled out a total of $21 billion in domestic flights online. Comparatively, consumers spent a total of $56 billion on domestic flights in all of 2021, according to the data.
The data showed that as demand picked back up, so did the price of tickets. The cost for plane tickets increased 20% in March compared to 2019 levels, according to Adobe. In February, prices were 5% higher than 2019 levels. In January, though, prices were 3% lower than 2019 levels, according to the data. "Inflation in ticket prices is now having a greater impact on consumer purchasing power," according to Adobe's report.
A family looks at flight information at Reagan National Airport in Arlington, Virginia, U.S., on Friday, Dec. 24, 2021."Consumers have seen online prices for physical goods rise now for 22 consecutive months, per the Adobe Digital Price Index, and inflation is becoming more prominent for services as well," said Adobe Digital Insights lead analyst Vivek Pandya.
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