ATLANTA, Ga. (June 16, 2016) – InComm, a leading prepaid product and transaction services company, today released the results of a survey highlighting consumers’ attitudes toward purchasing prepaid products for summer travel. Respondents answered questions about their summer travel destinations as well as where they would consider using a prepaid product and why. More than 500 respondents were surveyed online in May 2016.
Highlights from the survey include:
- While traveling, 65 percent of respondents considered using prepaid for shopping and restaurants respectively.
- 51 percent of respondents said they would use a prepaid product anywhere it was accepted while traveling.
- 69 percent of respondents said convenience was the primary reason to use a prepaid product while travelling, followed by avoiding identity theft (48 percent), avoiding fraud (47 percent) and as a budgeting tool (47 percent).
- 55 percent of millennial respondents between the ages of 25 and 34 noted using prepaid as a budgeting tool while traveling.
“More and more consumers are recognizing and utilizing prepaid products as versatile finance tools,” said Brian Parlotto, Sales & Marketing Executive Vice President at InComm. “The summer travel season is a perfect time for consumers to take advantage of prepaid products for self-use, whether it is for ease of convenience, to properly budget for a trip or to defend against identity theft while away from home. Prepaid products fill those consumer needs in a very simple and convenient way.”
Respondents also selected their top three vacation destinations which were visiting family, beach/seashore, and big cities. The top four things respondents look for in their destination are delicious food (52 percent), beautiful views (50 percent), adventure (34 percent) and shopping (31 percent).
Overall, in addition to the summer travel season, 44 percent of respondents said they use prepaid products to track expenses. Of millennial respondents between the ages of 25 and 34, 54 percent said they use prepaid products for overall budgeting with 34 percent noting they use prepaid to budget for travel and vacation.
According to a recent survey from AAA, 56 percent of U.S. consumers polled said they are planning a road trip/drive vacation this summer. AAA estimates that Americans have saved $18 billion on gas so far this year compared to the same period in 2015, and prices are at the lowest levels in 11 years.
InComm is a leading global technology enabled network facilitating prepaid commerce and technology solution services. Since our founding in 1992, we have established an omnichannel commerce network that connects our distribution partners with our products and services partners and consumers through over 450,000 physical locations, as well as through digital channels, including online, mobile and social. With 186 global patents, InComm is headquartered in Atlanta with a presence in over 30 countries in North and South America, Europe and the Asia-Pacific region. Learn more at www.incomm.com or connect with us on www.twitter.com/incomm, www.facebook.com/incomm, www.linkedin.com/company/incomm or www.incomm.com/blog.