Asia is a complex and fragmented market with vastly
different types of consumer behaviour, languages and cultures. With rapidly
changing technological development, the increase of low cost carriers in the
region and the capability of the middle class to travel further, the
possibilities of travel in Asia are becoming limitless.
But the question remains, how can travel brands tackle such
a diverse market?
The revolution in data and analytics is changing what brands
know about their customers. At the same time the growth of mobile use by travel
consumers’ means that travel brands can service and sell more and for longer.
According to a study by LeNovo, about 59 per cent of the respondents in Asia
said they searched for travel accommodation online via mobile devices – 13 per
cent above global average.
However, as Tim Gunstone, MD, EyeforTravel highlights, “In
the battle to win the travel customer, if you don’t use both mobile and data to
send contextualised communications then you risk losing customers to the travel
companies that do”. In a recent interview with Tarandeep Singh, IHG’s Director
of Revenue Analytics for the Asia Middle East and Africa (AMEA) region he said “data
analytics have been able to rewrite our consumer segmentation and break it up by
every brand to ensure we are talking to the right audience at all times,” This
enables the group to target far more accurately with much higher conversion
rates than a few years ago.
All this change means that established business models are
showing signs of failing and huge opportunities are in place for the brave and
insightful. New business models from start-ups such as TravelMob, HotelQuickly,
Stayzilla, GrabTaxi and many others could potentially grow into billion dollar
industries.
EyeforTravel’s 17th Travel Distribution Summit
Asia couldn’t come at a more opportune time. Taking place in Singapore, 20-21st
May, it will aim to bring together some of the leading APAC experts.
The changes in the industry mean that the travel
professional needs to fundamentally re-visit and discuss how they can work
together effectively and profitably. If
they don’t, they risk facing commoditisation of their product and missing the
huge opportunity to use data and analytics to increase ancillary product sales.
For years, EyeforTravel’s TDS Asia event has been the
educational meeting place for the innovators in the travel industry. This year is no different, but we also have
added into that mix some of the biggest brands in travel to brainstorm on the
future of APAC’s travel.
Marketing, innovation, technology, analytics, RM and mobile experts
from all branches of travel use this event as an annual meet up to predict the
future of travel in the region and to
network in view of profitable partnerships.
