May 05, 2009 08:44 AM

Retailers Hitch Cart to Staycations

By Home Experts Team

With Economy Down, Families Plan to Vacation in their Own Backyard

The term “staycation,” is so trendy and buzzworthy these days that it’s close to being, well, common. The staycation is defined by UrbanDictionary.com as a vacation that is spent at one’s home enjoying all that home and one’s environs have to offer. Or, more simply and cleverly put by Ralph Potts in his “Vagabonding” blog, it’s a vacation without vacating. This is still a relatively new concept thanks to the swift decline of our current economy, however thanks to the media and business everywhere with a local angle to promote, the staycation didn’t take long to catch on.

Photo Courtesy of Etsy.com

Economic conditions are the major driver of this trend, as gas prices remain unstable and consumer spending is down. CNN reported that about 1.3 percent fewer Americans are expected to fly this summer than last summer, according to the Air Transport Association. AAA also projects that this year’s Memorial Day travel will be down for the irst time since the 9/11 attacks, due to gas prices and economic uncertainty.

Regardless, an uncertain economy doesn’t eliminate people’s need for a break. Enter, the staycation. For the travel industry as a whole, the staycation is putting a damper on things. For local businesses restaurants, and home improvement retailers and brands, this is an opportunity.

Local businesses around the country have quickly learned to capitalize on this trend by working with media outlets and bloggers to get the word out about discounts for members of their communities. Even hotels are offering rates for locals that encourage them to staycation just down the road.

Large national retailers are also riding the wave. In summer 2008, Wal-Mart offered “101 Days Of Summer Staycation” desktop widget with tips on how to enjoy the season without leaving home. Big box retailers like The Home Depot and Lowes encourage making the backyard an extension of the home, offering not only deep discounts to the outdoor retail center, but also details plans on how to build a pergola or install lighting.

Watch for big discounts and “Staycation” promotions to be in full swing just prior Memorial Day weekend. Also keep an eye out for increased coverage in local newspaper blog sites, like last year’s coverage in the New York Times “City Room” and Denver Post.