The travel industry is changing and it is changing at a very fast pace. Industry events like Phocuswright conference help us update ourselves with the changing picture. Many industry experts shared their learnings and predicted the trends during the recently concluded Phocuswright 2015.
(Image: By Phocuswright/CC-BY-NC-ND 2.0)
We picked up 9 tweets shared during the event that point in the direction global travel industry is headed:
#1. Decode activities
Activities is a really interesting area, but I don't think anyone's really cracked the code yet. -Darren Huston @bookingcom #Phocuswright
— Phocuswright (@Phocuswright) November 19, 2015
Many businesses have entered the space and are running successfully but there is still lot of room to improve. There are still no travel brands that offer a one stop solution to everything.
#2. The Chinese love options
90% of Chinese e-commerce is marketplace, says Alitrip's Sherri Wu; 860,000 hotels rooms alone sold on last Singles Day #Phocuswright
— WebInTravel (@WebInTravel) November 19, 2015
The fact that a large fraction of Chinese ecommerce business is driven by marketplaces indicates that the Chinese people like to compare their options before they buy.
#3. Simplicity goes a long way
It can take less than 90 seconds of screen time to book a flight and hotel on @HelloPana #Phocuswright
— Phocuswright (@Phocuswright) November 16, 2015
Using machine intelligence to simplify the buying process goes a long way in increasing conversions in the highly competitive online travel industry.
#4. China holds opportunities
In a largely traditional landscape, online travel volume is less than 30% in China. #Phocuswright #webintravel
— WebInTravel (@WebInTravel) November 19, 2015
Despite being one of the fastest growing travel markets, a large part of Chinese travellers are still booking offline. Clear sign that there is lot of room for growth of new travel startups in the region.
#5. Leverage technology
What is changing is the concept of access. The key to success is using new tech to deliver transport solutions -Enterprise #Phocuswright
— Phocuswright (@Phocuswright) November 19, 2015
With the industry shifting fast from offline to online, it is very important for businesses to leverage technology to deliver transport solutions in order to grow.
#6. Big data boosts conversions
Eg of use of data – if you buy pet food, Rakuten Travel can then recommend pet-friendly hotels #Phocuswright
— WebInTravel (@WebInTravel) November 19, 2015
Data mining techniques can help brands offer well tailored results to the customers. This helps increase the conversion rate and reduce efforts for the customer.
#7. Apps sell to the Chinese
In China, apps rule; in Japan, more skewed towards mobile web #Phocuswright
— WebInTravel (@WebInTravel) November 19, 2015
Chinese travellers are obsessed with apps and that is why many brands even open up options like WeChat for them. On the other hand, the Japanese prefer to book via mobile web.
#8. No Kayaking
.@ Skyscanner CEO Gareth William's response to @shafner boast of being best at meta – "Check the App Store" #phocuswright | Well played, sir
— Robert Cole (@RobertKCole) November 18, 2015
Brands often make bold claims to seek attention but then claiming yourself to be the best is a little subjective. Isn’t it?
#9. No OTAs for Airbnb
"Doubt we will distribute via OTAs" @Airbnb #Phocuswright
— Charuta Fadnis (@charutaf) November 19, 2015
While some major OTAs are opening up to the idea of alternative stays, Airbnb doesn’t seem to have this alternate channel in mind.
Any other interesting tweets from Phocuswright that caught your attention? Do share them with us.
