Business Travel, We're Back

Good morning, Nerders. It’s Friday, July 26th. In today’s newsletter, we cover:

• Business travel is taking off

• How weight loss drugs are impacting grocery spending habits

• How Modelo won in the U.S.

TODAY’S STORY

Business trips are back, and they hold significant value across industries.

A new report from Deloitte indicates business travel spend may reach or surpass pre-pandemic levels by the end of the year.

• Most travel managers expect their companies’ spend to grow in both 2024 and 2025

• Those managers predict 14 to 15% spending growth each year

Conferences, sales visits, and client project work are all driving the comeback.

While business travel has taken longer to rebound than leisure travel, which bounced back almost immediately after the pandemic, it’s a vital revenue source for airlines, hotels, and travel agencies.

Even though business trips only account for ~12% of total U.S. travel, they make up as much as 75% of revenue on certain flights because they are often willing to spend for better seats, amenities, and last-minute travel plans.

So, yeah, business travel is a big deal and has huge ramifications for the economy.

DATA BYTES

• 97% of consumers reduced their grocery spending after taking GLP-1 drugs (Ozempic, Wegovy, etc.)

• Lean protein (seafood, lean meat, and eggs) saw the biggest increase in its share of grocery spending for consumers after taking GLP-1 drugs

OUR PICKS

Here are today’s recs to help you live a smarter life…

1. High spin, soft feel.

This TaylorMade ball balances distance off the tee with an ultra-soft feel around the green. 41% off for a limited time.*

2. Protect your car’s interior.

This high-quality, durable, and easy-to-use windshield sunshade reflector is effective against harmful UV rays from damaging your car’s interior accessories.*

3. Face sunscreen for oily skin.

This oil-free sunscreen for acne-prone skin helps absorb excess oil, reduces shine, and won’t cause breakouts.*

#SHORTS

How Modelo won in the U.S.

@boringbusinesskieran

The Incredible Rise of Modelo Especial Make sure to follow me to keep up with the latest business stories and trends~ #modelo #beer #markets

Watch on: TikTok, YouTube, Instagram

PREVIOUS STORIES

• AmEx doubles down on dinner reservations — AmEx’s $400 million acquisition of Tock highlights the importance of the culinary world to its cardholders.

• Gold’s Stealthy Bull Market — Following central bank activity, retail investors are driving up gold prices.

• The False Promise of Thrift Companies — Thrifting is booming, but companies specializing in secondhand apparel are struggling to grow alongside the overall market.

• Hollywood Fights Back Against Online Pirates — Video sites with stolen content attracted 141 billion visits in 2023.

• Ozempic Maker Novo Nordisk Competes for China — Novo Nordisk faces fierce competition with cheaper China-made versions of its popular weight loss drugs.

To read the web version of previous stories, click here

If you have any comments or feedback, just respond to this email.

Thanks for reading,
Kieran & Justin Ryan