The process of online travel booking has moved firmly into the 21st century, with an estimated $817 billion worth of online bookings by 2020. Considering that the tourism industry is worth approximately $1.2 trillion, online bookings represent one of the largest market shares in the sector.

Digital consumer trends continue to change. Desktop use is continuously dropping, and mobile is king. However, even these trends continue to shift rapidly, so the travel industry must adapt accordingly.

While many customers get their information via mobile, they still move to desktop when making their bookings. Not only is this inconvenient for the customer, but it makes no sense from a travel company perspective either.

Understanding the latest statistics is the key to understanding how customers are interacting with travel companies and what improvements you should make in the near future. By paying close attention, you can adapt your sales funnel to make booking a trip as easy and convenient as possible. At Stratos Jets you can rent a private jet online.

Before we break down the nitty-gritty, here are the most important statistics you need to know:
An estimated 700 million people will make a booking online by 2023
83% of US adults want to book their trips online
72% of mobile bookings happen within 48 hours of last-minute Google searches that include the words ‘tonight’ and ‘today’
82% of all travel bookings around the world took place without human interaction in 2018
There are over 148 million travel bookings made annually
70% of all customers do their research on a smartphone

What Percentage of Travel Bookings Is Made Online?
Of the 148 million online travel bookings in 2018, 82% occurred without any human interaction, via a mobile app or website. The current growth rate of the online travel sales market is 15.4%, and online hotel bookings are growing at 10.3%.

According to Google, the most popular day for bookings is Monday, and Saturday is the least popular. The same survey showed that most bookings happen around 10 am, while 6 am is the quietest time for bookings. Smart agencies can plan their server usage accordingly.

The online travel booking segment is one of the largest in the travel industry. The travel industry is estimated to be worth around $1.2 trillion annually, and the online booking market makes up 63% of that, or roughly $756 billion. Current projections estimate that that market will grow by 8% in 2020, reaching an estimated worth of $817 billion.

How Are Consumers Using Online Travel Booking Services?

The biggest shift in customer bookings is the trend towards last-minute bookings. According to Google statistics, travel-related searches with the keywords ‘tonight’ and ‘today’ have increased by 519% in the past five years. Many of these searches originated on mobile devices in the destination city.

However, despite the increase in interest and leads, many hotels are struggling to convert these leads into paying customers, especially on mobile devices. Mobile conversion rates are an abysmal 0.7%, compared to 2.4% for desktop conversion rates. Many hotels report conversion rates of around 2.2% for online sales, suggesting that mobile conversions are lagging far behind.

While sites like Booking.com and TripAdvisor get millions of visits per month, two-thirds of online travel booking sales are made directly from the hotel’s own website. Approximately 80% of all digital travel sales occur online, and 60% of people say their digital travel booking is their most expensive online purchase.

The travel sector, in general, struggles with converting leads. Online travel sites have the highest cart abandonment rate of any sector, and the total online travel spending makes up a small fraction of the overall internet spending.

As more companies become smart about customer experience, many travelers now have higher expectations when it comes to bookings. One of the most telling statistics is that 90% of all travelers expect a personalized experience when they book a hotel. Since many travel sales sites are still relatively behind the times, customer disappointment may factor into the low conversion and high cart abandonment rates.
These statistics suggest that there is a large, untapped market for online booking sales. Online digital travel agencies need to examine their sales funnel and find out why they lose so much business in the process.

How Long Do Customers Spend Researching Travel Online Before Booking?
Current statistics indicate that over 90% of travelers will do their research online, and 82% will end up making their booking online as well. Most people who do their online travel research will do it on the desktop site, as only 23% of leisure travelers believe they can get the same hotel or flight deal on mobile, compared to desktop.
According to TripAdvisor statistics, half of all American travelers spend less than a week researching after deciding to go on a trip. However, there is also a second group of consumers who have their trip booked months’ in advance. These consumers will then spend the 12 weeks leading up to the trip searching for experiences rather than air or hotel bookings.

According to TripAdvisor, younger travelers tend to leave their research for later, while older generations are more likely to book well in advance. People between 18-34 book between one week to one month prior, while people aged 55+ book more than four months in advance
Interestingly, the people who book their activities ahead of their trip will spend more on accommodation (47%) and travel (81%) than their more impulsive counterparts who book in-destination. This less spontaneous travel market group represents a valuable target for online booking companies that sell bookings across multiple categories.
When it comes to research, many people will spend time on aggregate sites like TripAdvisor. TripAdvisor reported 224 million visits in one month alone and found that around 80% of all travelers will spend around four weeks researching a destination. This research tends to include reading reviews of hotels, restaurants, and attractions, as well as looking for any travel tips to make the vacation even better.

How Does Going Green Influence Online Booking Behavior?

The threat of climate change has led to one of the largest travel trends in 2020: sustainable tourism. 2017 was the UN International Year of Sustainable Tourism for Development, which promoted sustainability related to the environment, the economy, and the socio-cultural aspects of tourism development.

More and more travelers are also becoming more conscious of their choices, with 55% saying they want to make sustainable travel choices. Another study showed that 70% of global travelers say they’d be more likely to book a hotel if they knew it was sustainable and eco-friendly.

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *