When Did Staycations Become the New Vacations?
South Africans have been forced to tighten their belts as the Rand continues to depreciate. The value of the local currency in relation to the rest of the world’s major commodities not only impacts the way South Africans spend their money, but also impacts what they choose to spend their money on. Luxuries are usually the first place consumers start cutting, with well-deserved and long overdue vacations often bearing the brunt first. South Africa’s leading financial comparison website, Hippo.co.za, grants some insight into current consumer trends pertaining to Flights, Travel Insurance and Car Rental.
“South Africa has beautiful, sunny weather and hundreds of outdoor activities to partake in, which means that most South Africans have a keen sense of adventure. Although a relatively small percentage can afford to travel overseas, the general populous decamps to the seaside or other parts of the country during holiday periods,” says Derek Wilson, Head of Hippo.co.za. “Given the fact that most South Africans currently have to turn their cents over many times, it comes as no surprise that they are opting for staycations instead of vacations. Money that would usually be saved to go towards a holiday away from home is now going towards higher priced groceries, petrol, school fees, utility bills and everything else that keeps increasing alongside the inflation rate.”
Hippo.co.za, the website that allows you to compare everything from Cellphone Contracts to Motor Warranty plans and Car and Home Insurance, has seen the need for Travel Insurance quotes steadily decrease from January to April 2016. Less and less consumers have compared flight costs on the site, as local and overseas trips are unaffordable for the average South African. Requests for Car Rental quotes however, increased from January to the Easter weekend, and then gradually decreased from Easter to April, a trend indicative of the season.
“Although staycations are likely to remain a trend amongst South Africans for the time being, it does not have to be a terrible ordeal,” concludes Derek. “There might be a decline in International travel-related searches which demonstrates a tighter hold on budgets, but this could be an opportunity for South Africans to compare other financial related costs in a bid to save hundreds of Rands per month.”
Established in 2007, Hippo.co.za is South Africa’s leading financial comparison website that helps consumers save money by comparing a range of South African providers across financial products such as Car Insurance, Home Insurance, Life Insurance, Medical Aid and more. Hippo.co.za is free to use and saves consumers the time and hassle of shopping around for the best deal since the Hippo.co.za website instantly retrieves real-time quotes from the different providers using the latest Internet technology. One in two people could save hundreds of Rands per month* on their Car Insurance alone by using Hippo.co.za to compare before they buy or switch to a new provider.
Hippo.co.za makes money by simply charging its partners a fee when a customer chooses to find out more about their products. The results consumers see, and the order in which they are presented, are in no way influenced by the fee Hippo.co.za charges its partners or any other factors other than the price of the product being compared.
For more information, visit us on www.hippo.co.za, connect with Hippo.co.za on LinkedIn, http://www.linkedin.com/company/hippo-comparative-services-pty-ltd/, like us on Facebook, www.facebook.com/HippoSA, and follow us on Twitter @Hippo_co_za and YouTube, http://www.youtube.com/user/hippocompare.
Hippo Comparative Services (Pty) Ltd is an authorised financial services provider (FSP number: 16357). Terms and Conditions apply.
*Based on 2015 independent market research conducted by Kaufman Levin Associates.
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