HF Holidays highlight winter breaks

HF Holidays highlight winter breaks

Tuesday, 25 October 2016 14:00

HF Holiday...

Flybe puts more summer 2017 routes on sale

Flybe puts more summer 2017 routes on sa…

Tuesday, 25 October 2016 11:00

Flybe has put more early release routes on sale as part of its preliminary summer 2017 schedule.

YHA submits plans for London’s first ‘Super Hostel’

YHA submits plans for London’s first ‘Su…

Tuesday, 25 October 2016 08:00

A planning application has been submitted by YHA (England and Wales) to open its first Super Hostel in London.

£2.3million immigration hall upgrade plans at Bristol Airport

£2.3million immigration hall upgrade pla…

Monday, 24 October 2016 14:00

Following a major overhaul of the security search area for departing passengers, Bristol Airport has unveiled plans to address congestion in arrivals.

Intrepid targets socially conscious Gen Z with new Geckos age-range

Intrepid targets socially conscious Gen …

Monday, 24 October 2016 11:00

30 year olds will be ‘too old’ for Geckos Adventures next year, as the Intrepid Group has announced that it will cut the age range to meet a growing demand...

New survey reveals just one in 12 Brits manage to wangle an upgrade

New survey reveals just one in 12 Brits …

Monday, 24 October 2016 08:40

New research from Jetcost.co.uk has revealed that only 8% of British travellers have actually managed to secure a free upgrade for their holiday, with flight upgrades and hotel room upgrades...

Just You launches travel trade solo experience

Just You launches travel trade solo expe…

Friday, 21 October 2016 14:00

Just You has announced its largest investment to support the travel trade with the launch of 200 joint marketing events to promote solo travel.

Spontaneous people are happier according to Snaptrip survey

Spontaneous people are happier according…

Friday, 21 October 2016 11:00

Spontaneous people are often believed to lead more exciting or glamorous lifestyles and a new study has confirmed that they are happier in all aspects of their lives.

Top Brighton attractions on Combi-Saver tickets for half term

Top Brighton attractions on Combi-Saver …

Friday, 21 October 2016 09:00

Visitors to Brighton this October half term can save up to 20% on its top three paid-for attractions with combination tickets now available for British Airways i360, SEA LIFE Brighton...

Free cabin upgrades with Cosmos Tours

Free cabin upgrades with Cosmos Tours

Thursday, 20 October 2016 14:00

There still’s time for agents to book a Croisieurope river cruise for their customers with a free cabin upgrade on a range of river cruises throughout Europe, when booked with...

Last minute autumn breaks available at Haven

Last minute autumn breaks available at H…

Thursday, 20 October 2016 11:00

Agents can still give their customers a last minute family break this autumn from £99 when booking a Haven holiday between now and November 5.

Skiers urged to head east for best piste costs reveals new report

Skiers urged to head east for best piste…

Thursday, 20 October 2016 08:00

Cash-conscious skiers can avoid the slippery slope of higher prices for their annual downhill trip by heading to ski resorts in Eastern Europe.

Design an anniversary poster for DFDS competition

Design an anniversary poster for DFDS co…

Wednesday, 19 October 2016 14:00

Ferry operator, DFDS, is putting out a call to professional and amateur artists to create a poster that will be used in their 150th anniversary celebrations this year.

Savings on worldwide adventures with Explore

Savings on worldwide adventures with Exp…

Wednesday, 19 October 2016 11:00

Explore has launched a new collection of worldwide adventures with a launch offer of up to 10% discount on all new trips booked by November 7.

New route to Seattle makes it one to watch for 2017

New route to Seattle makes it one to wat…

Wednesday, 19 October 2016 09:12

Seattle is expected to be one of the fastest growing US destinations for UK travellers next year with a Virgin Atlantic direct non-stop daily flight launching March 2017, new hotel...

Air Transat launches 2017 programme with increased connections across Canada

Air Transat launches 2017 programme with…

Tuesday, 18 October 2016 14:04

Air Transat has expanded its programme of flights from the UK to Canada with increased capacity and connections for travel in 2017.

Data analytics is disrupting industries left right and centre and travel is no exception. A whole new world of customer insight and information is being opened up for an industry with a notoriously challenging purchase cycle. Only those traditional travel agents with the most accurate information and digital nous will continue to thrive.

The truth is that in the UK our holiday and travel shopping habits are changing.

Technology is at the centre of this shift, taking the customer out of the travel agent and into cyberspace on their laptop or smart device. A recent nationwide survey of 2000 Brits revealed that 66% of us still visit a travel agent, but there is an increasing reliance on price comparison websites, which 50% of holiday makers ultimately use to book their trips.

Contrary to Ryanair’s Michael O’Leary’s view that price comparison websites shouldn’t exist, half of us rely on these sites to book holidays for the best price and package. This is a universal truth, no matter what age, gender or area you are from in the UK.

This makes the market that much more competitive, meaning traditional travel agents need to find a way to remain relevant in the digital age.

Price Sensitivity

If you are smart you can get the same product or service, or get to the same destination, for a reduced price. 1 in 4 of us spend more than two hours looking for the best holiday deal. This highlights that customers are now aware that spending that little bit of extra time researching pays off.

Interestingly, millennials are more accepting of increased flight and travel prices during the summer period: a quarter are more accommodating of price increases compared to just a 5% of over 55s.

Younger generations – growing up in the age of Uber, Ebay and Amazon, are more accepting of changes in prices, benefitting customers in the long run and actually giving them control. What they are willing to pay is the new standard in pricing.

Anlayse and optimize

The travel industry has been at the forefront of dynamic pricing, with price flexibility based on certain variables, including demand, the time of year and public / school holidays. This model is accepted by younger consumers, and is shaping how we shop around for the best deal.

The ability of travel companies to react, in real-time, to the market and consumer desire is a crucial issue for the travel industry in the digital world today; dynamic pricing helps increase revenue and profits. By also using predictive analytics, travel businesses can ensure they have enough availability to cover demand during peak periods.

It also shows the importance of optimizing your online pricing and continuously analyzing your customer behaviour and the competition to remain a player in the market. If you out-price your flights, your customer will simply go to another competitor.

What does this mean for the future of travel?

Pricing models are evolving as technology advances in line with consumer habits. Travel booking habits are evolving as access to bookings becomes easier on the Internet.

Holiday and travel companies need to fully understand the shifting dynamics and utilise the technology available in the digital age.

The travel industry needs to become more data centric and it is increasingly important for traditional travel agents to absorb the digital offerings available to not fall into second place behind online travel booking companies and comparison websites.

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