Travel Apps - Thematic Intelligence

Travel Apps - Thematic Intelligence
Summary

Travel apps allow companies to offer a more convenient service, which often saves both time and money for consumers. When looking specifically at OTAs (online travel agencies), the most successful companies in this sub-sector give little reason for customers to shop elsewhere when purchasing the main services and products that create a domestic or international trip. Acting as a ‘one-stop shop’, app focused providers such as Booking.com allow customers to book flights and accommodation, rent a car, and arrange attraction experiences all in one place. Additionally, the company provides customers with special ‘mobile-only’ deals to drive app usage and offer value for money. By saving customers time and money through app technology, online providers such as Booking.com increase their chances of creating repeat business, with loyalty programs often being integrated into mobile apps to encourage ongoing engagement.

This thematic research report takes an in-depth look at the theme of Travel Apps and the impact it has on the travel and tourism industry. This report analyzes the players impacted by this theme alongside the contributing trends, negative destination trends, unintended opportunities, and trends that have emerged as a result of Travel Apps. It then dives deep into an industry analysis, presenting several real-life case studies looking at how destinations and companies have responded to the impact of this theme on their operations. Recommendations are then offered for the travel sector, alongside a description of companies mentioned throughout.

Key Highlights

Across all sectors within travel and tourism, the travel apps theme has disrupted, to varying extents, the buyer-seller relationship. From lodging providers to travel service providers, companies have been facing increasing levels of digital disruption. Travel apps are becoming the most convenient way to access products and services thus investment in them has increased. Companies investing in a travel app proposition will be attractive to travelers over those who do not.
As consumers continue to demand easily accessible, yet innovative mobile-first strategies from companies, the travel apps space will continue to develop, and new companies are likely to enter the space if they have not already. With more consumers showing a positive sentiment towards the use of travel apps those players who decide not to enter the space will be at risk of losing customers in the future. Therefore, the power of travel apps must not be underestimated, and companies must invest to stay relevant to the traveler.
Travel apps are mobile applications related to the travel and tourism industry. These apps offer brands and tourists a direct line to each other, offering the customer convenience and the company a front-row seat in travel preferences. As elements of the travel process are increasingly performed on mobile devices, even at the research stage, companies need to be present in the formats that their customers are most familiar with. As a result of this, the importance of omnichannel connectivity is now paramount.
Apps have become increasingly common in everyday life, and there is a myriad of apps for different tasks: from chatting virtually with friends to conducting banking tasks, apps are now expected as part of a company’s digital offerings. Convenience is key and consumers desire all the required information for their trip to be in one place that is easily accessible. Travel firms that invest in a ‘mobile-first’ app strategy are likely to satisfy the demands of the 21st-century traveler. The functionality of these apps is endless. Apps have become a common option for customers to book through.

Who should buy?

CEOs, Senior Executives, and Marketing Executives within travel and tourism should use this report to understand the highly important theme of Travel Apps.

ScopeThis thematic report provides an overview of the impact Travel Apps has on the travel sector and seeks to understand some of the contributory factors. The key trends within this theme are split into three categories: consumer trends, enterprise trends, and industry trends.Several case studies are included to analyze the multiple ways countries and companies have responded to the impact of this theme’s growth and what they are doing to grow with this theme.Reasons to BuyUnderstand the current Travel Apps trends within the travel landscape today and how these will escalate in the near future.Assess how travel and tourism companies such as tour operators, OTAs and DMOs are utilizing Travel Apps to drive revenues.Acknowledge the potential pitfalls of using Travel Apps by understanding the social, cultural, and environmental effects on the destination.Discover recommendations for businesses involved in Travel AppsGlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.All across the travel and tourism supply chain, now have an opportunity to capitalize on Travel Apps, and there are notable examples of this. Therefore, all should buy this report to fully understand how this theme will continue to be a key theme in the future travel landscape.