Updates 10/28/2022: Ohio's Travel Industry and Current Travel Research

NEW STUDIES SHOW CULTURAL ORGANIZATIONS MIGHT WANT TO RECONSIDER AGE FOR SENIOR DISCOUNTS

Key findings from Impacts, published Oct. 26:

With an increase of Americans living longer and staying productive past traditional retirement ages, new data shows optimal price points for admission to museums and performing arts organizations.
Many cultural organizations offer admission fees structured around different age ranges. However, these ranges are often calculated without using actual data or market research.
Impacts Research studied 81 cultural organizations with an adult admission greater than $20 over the third quarter of 2022. Admission value is a measure of how much personal value was derived from the experience given at the time and cost of admission.
The research presents a chart indicating that a respondent's belief that a cultural organization's perceived value is good or excellent at $20 or more stays relatively stable until age 70.
Overall, there is generally no market-driven demand offering a discount to people younger than 70 years of age. In fact, visitors 65 – 69 in the United States have no statistically greater demand for a discount.
Offering a senior discount before age 70 also discourages potential membership opportunities.