Four major trends in the online travel industry

Twenty years ago, the advent of online travel marked a revolution in the purchase and consumption of travel. As the industry has evolved, what does online travel look like today?

Today, increasingly sophisticated consumers are looking for personalized, seamless and mobile unique travel experiences. With increasing competition and rising processing costs, how to find and retain consumers while ensuring good returns is a challenge that all travel retailers need to face. In addition, due to the development of technology, more unique business models have emerged in the tourism industry, and travelers are also facing more choices.

Next, let’s take a look at the four major trends in the current online travel industry.

1. One-stop shopping experience

Many online travel companies hope to provide travelers with a true one-stop travel consumption experience - from air tickets, hotels, and car rentals to online reviews, theater tickets, and restaurant reservations, their business covers everything.

These companies are also constantly exploring more innovative related services for consumers. Take airport auxiliary services as an example. Travel companies now also provide luggage check-in, paid seat selection, and temporary accommodation services such as tents, yurts, and tree houses.

2. Emerging market segments

The dominant position of companies such as Priceline, Orbitz, Expedia, CheapOair and Kayak is unshakable, but there is no shortage of "newcomers" in the online travel industry who are brave enough to challenge the authority.

In recent years, there has been an endless stream of travel startups that focus on providing new traveler-centric services. Combined with travelers' choices of comfortable seats, Wifi, in-seat power and entertainment facilities, Routehappy.com can help them "get the best flight experience at the lowest price." After users complete their travel plans on OptionsAway.com, the site can keep the discounted fares selected by users for several days or even weeks. GetGoing.com can make the journey smarter, more personalized and more affordable. HotelTonight.com opens the door to convenient APP hotel bookings for travelers.

By identifying and finding ways to meet travelers’ new needs and desires, these new players are attempting to disrupt and capture the online travel market.

3. Travel search still plays an important role

Optimizing consumption and search functions has always been the focus of online travel websites, and it is no exception today, but even more important. If a travel website wants to be successful, it must quickly and efficiently obtain, organize, process and manage the thousands of travel search requests from travelers every day.

The development of technology and business intelligence has brought new ways of searching in the tourism industry. Vayama.com can provide users with fare search results and some special offers based on criteria such as the lowest price, shortest travel time, and most popular. Expedia.com found that consumers visit the air ticket booking website an average of 48 times before booking. The sticky note feature they launched allows consumers to search and store their search history more conveniently for later viewing.

Consumer search data is the most valuable reference information for studying user behavior. By analyzing a large amount of travel search data, online travel companies can provide travelers with more relevant and customized information and results during the travel planning stage.

4. Connect with business travel

Online travel initially focused on leisure travelers, but in recent years, online travel companies and business travelers have found value and benefits in working with each other.

For small and medium-sized businesses, OTAs often offer cheap negotiated fares (especially when packaged with hotel products), which can allow business travelers to get a good price.

Corporate employees prefer to book on OTAs because they can also earn frequent flyer and loyalty program points and are cheaper than booking on hotel and airline websites.

Travelocity Business, Orbitz for Business and Expedia's Egencia business travel business have all combined business travel and online travel well.

via: traveldaily.cn