Seasonal shift and Delta variant (Data recency: August 2)
Bookings steadily rose from January 2021 and peaked in July. Moreover, during much of that period the booking index was running ahead of the searching index indicating that consumers were quicker to commit and shopping less—a sign of confidence. Over the past two weeks both the booking pace and searching pace have fallen off. Some decrease in volume was expected as the summer vacation period drew to a close, however that downward trend was likely compounded by uncertainty associated with the Delta variant.