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Thanks to new technologies that can sift through the practically limitless amounts of data in cyberspace, shrewd use of such data will be the key factor in determining which travel companies succeed or fail in the years to come. Companies hoping to stay competitive also need to accommodate travelers with device-agnostic access to information, address specific traveler needs with targeted offers, and take advantage of cloud computing to streamline their own business operations.
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While the U.S. economy showed clear signs of recovery in 2012, there were enough mixed signals to make vacation decisions difficult for many Americans. Through a longitudinal analysis, PhoCusWright's U.S. Consumer Travel Report Fifth Edition examines traveler behavior along each step of the travel planning process - from the media travelers rely on to make destination and product decisions, to the channels they use to book and share their trip experiences. Key metrics include frequency and duration of trips, travel expenditure and travel component purchases, and travel intentions for the coming year.
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PhoCusWright has consistently chronicled the evolution of online travel, technology and innovation. Since 2008, The Travel Innovation Summit@The PhoCusWright Conference has showcased well over 100 startups and travel industry innovators. This Spotlight examines more than 500 startups founded and funded since 2005, tracking the companies, categories and regions that have attracted the most attention (and capital) during this period.
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Japan ceded its leadership of the Asia Pacific travel market to China in 2012, and it will remain the regional runner-up for the foreseeable future. But as the country makes slow, steady progress toward recovery from its losses during the 2011 earthquake and tsunami, the unique characteristics of its travel market - partly mature, partly developing - will continue to attract attention from global online travel agencies and hoteliers.
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Nearly two thirds of U.S. online travelers now own a smartphone, one third own a tablet and nearly a fourth own both. Rapid adoption of mobile devices among travelers is impacting every phase of the travel process, and mobile is becoming the new battleground for travel companies seeking to grow market share. This report provides a detailed assessment of the U.S. mobile travel market, including consumer behavior trends, mobile market sizing and projections for key travel segments.
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Twitter, Facebook or Pinterest? Smartphone, tablet, desktop … or perhaps all three? Connecting with travelers today means navigating a quickly changing array of platforms and devices. With so many technology options at travelers' fingertips, devising a strategy to suit the diverse ways travelers search, shop, buy and share travel is more difficult than ever.
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Until recently, travel companies' online strategies could be comfortably confined to the desktop web. However, the explosion in consumer electronics, mobile technology and social media have transformed the online experience, making it extremely challenging to address the market with a single, mainstream strategy. Mobile devices, tablets and still-evolving social platforms have changed the way travelers connect, plan and share their experiences. PhoCusWright's Traveler Technology Survey 2012 provides travel companies and marketers a comprehensive view of how the latest devices, mobile functionality and social networks are shaping the consumer travel planning process.
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Google's purchase of ITA Software prompted many to consider and speculate about the company's plans to enter (and possibly disrupt) the travel distribution landscape. In addition to ITA Software, Google possesses a range of other tools and capabilities it could potentially use to establish itself along various points of the travel value chain. This Spotlight examines Google's possible intentions with respect to travel, and explores the tools at its disposal for building a complete travel system.
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Simply advertising to the masses is no longer enough - companies must identify specific audiences of potential customers. This article examines the trends driving behavioral targeting and the implications of delivering relevant content on loyalty and conversion in travel.
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While a strategically managed social media presence has become de rigueur in the travel industry, companies are still struggling to determine how best to harness the medium. PhoCusWright's Social Media in Travel 2012 examines the role of social media in the online travel ecosystem, investigating which types of user-generated content are most influential, how social networking affects referrals to travel sites, and what innovations to expect from social travel startups, among other trends.
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