The temperatures might be chilly right now, but it will be sunny and warm again before we know it. Are you gearing up your business for this summer’s travel season? Convenience stores serve as critical pitstops for families partaking in road trip vacations. So, what’s in store for the upcoming season, and how can you prepare now? Here’s a quick summary of road trip trends for 2024 to help guide your plans for a profitable summer season.
In a recent survey conducted by IPX1031, 90% of respondents said they plan to travel as part of their vacation this year, and 50% of those surveyed indicated they are planning more travel than they had in previous years. Yet, with inflation still at the forefront of consumers’ minds, finding budget-friendly ways to take their families on vacation is important. 63% of survey participants said their vacation plans will focus on hitting the road because they feel it is more economical than flying. That means you’ll have plenty of opportunity to attract road warriors to your convenience stores to keep them fueled up on vacation.
It’s important to note that while many Americans are planning to go on road trips this year, keeping expenses down is a top concern. An article recently published by Yahoo!Finance predicts gasoline consumption will lower in 2024 than in 2023 by about 1%. Three elements are responsible for this reduction: remote work opportunities, fuel efficiency, and inflation. Outdoorsy.com predicts that many Americans will vacation in their RVs this summer because it can be one of the least expensive travel options and will help families see the country while sticking to a budget.
The good news for consumers is that gas prices are expected to remain low. The average U.S. price per gallon is currently around $3.50 per gallon, and the Energy Information Administration anticipates it to only increase to $3.60 for the year. If this holds out as expected, more consumers will be encouraged to plan road trips for the summer.
These factors combined equal substantial opportunity to grow your business this summer. Don’t wait until the sun comes out and the temperatures rise. Instead, start plotting your business strategies to optimize these road trip trends for 2024 today.
Plan for Success in 2024 with GP Energy.
GP Energy is your partner to help you achieve your goals in 2024 and beyond. We work with convenience store owners daily to help them understand the needs of their local customers and implement product lines and services to increase their bottom-line profitability. Sharing what we’ve learned about road trip trends for 2024 is just a tiny example of how we help our clients succeed. By partnering with GP Energy, we can help your business unlock its potential with new opportunities and achieve unimaginable success. Contact us today, and let’s get started.
