China’s Online Travel Market – Market Analysis Report 2012-2013

China’s Online Travel Market -

Market Analysis Report
(2012-2013)

Private and Confidential

Foreword
Online retail has boomed significantly over the past 2 years while the online travel market
has also evolved drastically with the proliferation of new advertising channels and
technologies. According to the statistics from iResearch, the transaction scale of online
payment yielded $1,700 billion Yuan (CNY) in the online travel industry in 2012. This
marks an annual growth rate of almost 30%. With increasing fierce competition in the
market, vertical research engines operating on OTA such as Ctrip and Qunar.com have
been battling head to head in the online travel industry. The entire online travel industry
has maintained a strong momentum, where channels of sales are further diversified , with
sales moving onto social platforms and other media channels. Overall, the growth of online
retail business is expected to further be fueled by the emerging use of various media
channels.
Following the continuous improvement of the market, marketers are challenged with the
task of the industry weakening in every tier of the value chain and the tendency of user
dispersion. Marketers will soon be realized that capturing the key potential target users will
be critical to its business success and stay ahead as a competitive leader in the online
travel market.
In iClick, we value our travel clients as close business partners and provide customized
solutions that can best suit their business needs. We strive our effort to best provide a wide
variety of services to keep our clients maintained at their leading position in the industry.
For this reason, we have specifically researched, analyzed and compiled this industry’s
specific report, in hopes of providing the finest sales support services in the industry.
Last but not least, we will continue to work on various analytical reports on other industries
such as luxury goods and eCommerce sector; for those who are interested, please stay
tuned to our official website and our Weibo updates.
—— Co-founder of iClick
Ricky Ng

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Table of Contents
•

Part 1 An overview of China’s online travel market
-

A history of China’s online travel market

•

An introduction to the value chain of China’s online travel market
The current state of the online travel market

Part 2 Competitive market segmentation in the online travel market
-

Midstream —— fierce competition among online agencies

-

Downstream —— continuous emergence of new marketing platforms

•

Upstream —— suppliers entering the online platform

Weakening of the value chain in the online travel market

Part 3 Parting the red sea: venturing off from users’ needs
-

Online travel industry: consumer psychological needs

•

Online travel industry: consumer profile
Online travel industry: consumer behaviour analysis

Part 4 iClick – key strategies to increase your revenue


An overview of China’s online travel market
The value chain of China’s online travel market is mainly comprised of upstream suppliers, midstream
online agencies and downstream online marketing platforms as shown in the graph below:
Up Stream:
Suppliers

Downstream:
Online Marketing Platforms

Users

Direct Sales

Airlines

Scenic

Hotels

Midstream:
Online Agencies

Spots

Comprehensive
Search
Engines

Online Videos

Online Travel
Agencies (OTAs)
Social Media

Car Rentals
Users
Mobile Applications

Entertainment
Facilities

Concerts

Tour

Travel Agencies

Guide

Insurance

⋯⋯

Vertical
Search
engines

Vertical
Reviews

⋯⋯
Direct Sales

Graph 1-1: The value chain of China’s online travel market
Source：The National Tourism Administration of The People’s Republic of China, Increasing Trend in China’s Online Travel
Industry Whitepaper（2012-2015）


From 1999 to 2012, the online travel industry has surged rapidly in China. The table below describes
some major highlights in the history of China’s online travel market.
Phase 1: from late 1990’s to early 2000’s

Phase 2: 2004 - 2006
Maturity Stage for online travel market

Early stage for online travel market
•
•

Mainly commission based through airline ticket
and hotel bookings
Launch of online travel agencies such as Ctrip,
eLong, etc.

•

Entry of new online travel agencies such as
Mangocity.com and 17u.cn, providing consumers with
a portfolio of diverse and mature offline products

•

Huge price discrepancy amongst various agencies
resulting in the development of price comparison
search engines such as Qunar.com

Segmentation of online travel market and
rise in social media
•

Rising demand for vacation packages including
lvmama.com or tuniu.com with features such as
tourist attractions and route maps, providing more indepth online booking services

•

Maturation of users whose demand extend from
booking to sharing such as social networking sites,
including tip sharing site mafengwo.cn, travel review
site daodao.com, etc.

Phase 3: 2006 - 2010

New competitors in the online travel market
•

Major eCommerce platforms such as QQ, Taobao and
JD.com enter the online travel market, providing more
comparable sites through commission based scheme

•

Airlines and hotels increased their efforts in direct sales
as they create their own official websites or reach
consumers directly through vertical search engines

Phase 4: 2010 - 2012


Continuous Expansion in China’s online travel
market
The total revenue of China’s tourism industry in 2012 is estimated to be valued at $2.4 trillion Yuan.
Within that portion, China’ s online booking transactions are estimated to be valued at $1,729.7 billion
Yuan, thereby giving the online tourism a penetration rate* of 7%. It is evident that there is still much
room for growth. Hence it is estimated that the online travel market will keep growing at a rapid rate of
20% to 30%** over the next few years.
58.0%
60000

38.5%

50000

34.4%
29.7%

35.0%
40000

30000

4.8%

11.6%

Growth Rate (%)

22.4%
29.1%

4.2%

Scale of Domestic Travel (in one trillion Yuan)

5.1%

6.1%

7.2%

8.5%

9.6%

Online travel penetration rate

20000

10000

0
2008

2009

2010

2011

2012e 2013e 2014e 2015e

Graph 1-2 Penetration rate of china’s online travel vs domestic travel market
* Online travel penetration rate = Scale of online transaction/Gross Income of Online Travel Industry
** The National Tourism Administration of The People’s Republic of China, Increasing Trend in China’s Online Travel
Industry Whitepaper（2012-2015）


3 Key Factors Boosting Continuous Growth

•

Tour
operators

Online agencies (OTAs) and suppliers provide more product features such as car
rentals, ticket sales, tourist attractions

•

Increasing popularity in direct sales of travel products via third-party platforms

• Provision of 24/7 online service
• Transparent pricing; vertical search engines allow further price comparison
• Location service from mobile networks facilitates the booking of nearby services or

Online
Players

accommodations
• Rise of segmentation for services such as supply of travel guides, vacation package
group buy, etc.

Consumer
Habits

•

According to a report published by the China Tourism Academy in June 2012, the
number of users booking travel arrangements have reached 42,070,000, with a
recorded annual growth of 16.5%*

* China Tourism Academy Wuhan Branch, 2012 Chinese Tourism Development Report


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Competitive marketing segmentation in the
online travel market
• From industry’s perspective, target users are
highly fragmented. As indicated, the
consumer has nearly visited 8 different
categories from the beginning of the journey
to sharing the trip experience.
• According to BCG’s report on the travel
industry, none of the existing travel websites
are able to provide an all-rounded service
while the consumer has to spend a lot of
time visiting different sites for their travel
itinerary. Hence, the ad conversion rate
tends to be low.
• Although travel sites from different tiers
strive to enhance their service portfolio, but it
is rather difficult to satisfy every single type
of service demanded by the consumer. Not a
single website was able to create a
comprehensive, closed ecosystem of the
services provided.

Graph 2-1 China Online Travel Market Categories

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Upstream — suppliers entering the online platform
Upstream — Suppliers：
• Include airlines, hotels, attractions, car rentals and other travel service providers
Revenue Model：
• Suppliers generate profits from tourist resources and ancillary services

Market situation and competition：
• Airlines and hotels from upstream tend to use direct sales to enter into the competition
as they offer services directly to consumers while eliminating costs given to the
resellers through commission based
• Although airlines and hotels provide single service only, but they have large capabilities
in providing large discounts to the consumers in the competitive market
• OTAs from the midstream have already accounted for a large market share in the
industry but it is relatively difficult to steal users away while their consumer habits are
gradually formed over the decade

Midstream — fierce competition among online
agencies
Midstream — Online Resellers：
•

Include online agencies, integrated eCommerce platforms etc.

Revenue Model：
•

Connect suppliers with users to generate profits based on a commission based
model through online transactions

Market Situation and Competition：
•

Diversification of online platforms; new entries of online agencies and eCommerce
players keep emerging as to capture more from the user market

•

Suppliers from the upstream market increased their sales effort

•

Downstream vertical search engines have captured a lot of visitor traffic, bring visitors
towards suppliers and smaller online agencies

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Downstream — Continuous emergence of new
marketing platforms
Downstream — Marketing Platforms：
•

Include websites offering price comparison search, guides, reviews, etc.

Revenue Model：

•

They are not involved in the transaction process of online travel booking but they
mainly use vertical search engines or social network to attract visitors. They rely
heavily in providing retail services to upstream and midstream companies for
profits.

Market Situation & Competition：
•
•
•

The success of the model is mainly determined by visitor traffic. New models keep
appearing, e.g. Home Exchange* etc.
Travel social networks for mobile users are growing rapidly in order to capture the
market e.g. BreadTrip** etc.
Major midstream online agencies are gradually improving their customized
services in capturing users and traffic

* Refers to the swapping of home between two friends, allowing them to enjoy a more personalized vacation
** BreadTrip – a new mobile application to record travel footprints with offline support and share travel experience with family
and friends

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Weakening of the value chain
The continuous improvement and updates made to the value chain result in the continuous
weakening of the tiers within the industry.

Graph 2-2 - The Value Chain of China’s online travel industry

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Parting the red sea: venturing off from users’
needs
Despite the intense competition in the online travel market as previously described, the entire market
will continue its growth at a phenomenal rate. According to a report from the China Tourism Academy,
the country’s online travel transactions in 2014 will reach $4,580 billion Yuan, which will double the
figure* from this year.

The key to break out from this intensely competitive market is to win visitors. Currently, the
marketing platform is at a competitive advantage because they have secured the top spot in visitor
traffic, but suppliers using direct marketing as well as OTAs are able to increase the volume of sales
by attracting more users.

Volume of Sales = Number of users x Customer Conversion Rate. To gain shares in the market, both
volume of sales and customer conversion rates need to be tackled. On one hand, the online travel
company can actively try to find their online travel target users to boost visitor traffic. On the other
hand, they can use specially targeted advertisement and promotions to raise their customer
conversion rate.

* China Tourism Academy Wuhan Branch, 2012 Chinese Tourism Development Report

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Parting the red sea: venturing off from users’
needs
The Opportunity: Find the target users & personalized products

To raise the sales for online travel agencies, it is important to find the target users and cater
to different consumer groups by providing them with personalized information about travel
products.

1. Who are they?
2. What do they want?
3. How do we find them?

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1) Female and male ratio of online travel consumers**
Internet users who are interested in the travel industry in
2012, 38% are female, 62% are male.
2) Age group (ratio) of the online travel consumers**

38%
62%

As Generation Y became a major force of consumption, the
travel industry saw the 20 - 40 age group making up the
largest proportion of consumers online. They account for
68% of the searches. The market for Internet users aged 40
years old and above is also rising.
3) The location of the online travel consumers:
distribution across cities
Internet users from Beijing and Shanghai are most
interested in obtaining information about travel. They are
then followed by Internet users from Shenzhen, Guangzhou
and Tianjin, etc. These five cities make up more than 35% of
the total.

* Source: iClick Database
iClick’s unique audience data has collected a total of 1.7 billion user’s access data and 26 million active users’ data. The data is derived from the
character traits of active users including their interests, hobbies and spending habits over the past 30 days in order to come up with 22 distinctive
groups of audience segments such as “Paradise Seekers”, “Online Shopper, etc. It is then further divided these segments into 4 to 6 categories. This
report is mainly based on the category of “Paradise Seekers”, which include users in terms of their usage on computers, tablets and Smartphones;
Areas restricted to Internet users within China; period between Jan to Dec 2012.

** iClick is based on the browsing sites of Internet users and compared with the data from iResearch and Comscore to generate user’s Private and 16 - Confidential
gender and age .

Time of Browsing
AM

PM

4) Time of browsing
Users are most active browsing online from 10am to
12 noon and 8pm to 10pm in the evening.
Least Active

Most Active

5) Browser version
When it comes to browsers, it appears
that 34% of consumers in the online
travel industry would like to try new
things. They are particularly keen on
using the latest version of browsers*.

* latest version means that said browser version has been released for use over the past six months

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Devices used for Browsing

Devices used for Booking

2.3%
Smartphone

PC tablet

Desktop

5.7%

92%

Smartphone

PC tablet

Desktop

6) Devices used for browsing and booking
73% of the typical online travel consumer uses a desktop to gain access to the internet. Those who
make use of a smartphone or a laptop/tablet amounted to 19% and 8% respectively. However, as the
penetration rate of smartphone usage continues to increase, more and more users obtain
information about hotels, attractions, maps, directions and instructions, etc., via the use of their
smartphones on the go. It is expected that smartphone usage will increase exponentially. However,
as users are not yet comfortable with entering information for payment while they are on the go, they
are still refused to call the supplier directly by phone as to make a reservation or a purchase. Users
who make use of a mobile phone or Smartphone for their reservations amounted to nearly 2.3%.

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18%

Website*

Vertical Search Engines

10%
OTAs

9%

Reviews &
Ratings websites

Channels of
obtaining
information

%
55

Comprehensive
Search Engines

5%
3%

Travel channels or pages
on large-scaled sites

7) Top 5 Channels of obtaining information
Currently, it appears that a majority of the online travel consumers obtain information on trips and
voyages via various channels. Comprehensive search engines and vertical search engines are found
to be mostly used by these users.

* include official websites of tourism board, hotels, airlines and major attractions

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Conversion Time

15%

8%

Conversion Path

7 — 14 Days

32%

10%

<7 Days

45%

18%

Touch Points
<10

28%

10 — 20

15 — 30 Days

20 — 30
>30

>30 Days

44%

8) Conversion time
From the first viewing of an ad to the point of final conversion, it takes about 7 to 14 days for such change to
happen accounting for almost 50% of the online travel consumers. This indicates that ads must be
implemented and published at various stages (of site visits) in order for the consumer to be converted and
attracted by the advertisement.
9) Conversion path
The term "touch point" refers to the number of times a consumer comes into touch with an advertisement.
Almost 50% of all online travel consumers require between 10 to 20 touch points before they finally convert.
This process includes the use (and visit of) comprehensive search engines, vertical search engines, official
websites of tourism boards, hotels and airlines, as well as reviews, ratings and how-to type of strategic sites,
forums, travel channels in large-scale sites, OTAs and large-scale online retail platforms, etc.
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Online travel industry: consumer psychological
needs
Most popular travel destinations for consumers
Destinations within China
Sanya
Xiamen
Lijiang
Jiuzhaigou
Guilin
Beijing
Chengdu
Qingdao
Xi’an
Hangzhou

1
2
3
4
5
6
7
8
9
10

Destinations outside of China
Hong Kong SAR and Macao SAR
Thailand
Korea
Japan
Maldives
Indonesia
Singapore
Taiwan
Cambodia
Malaysia

10) Places of Interest
Online travel consumers are most interested in the following travel destinations within China:
Sanya, Xiamen, Lijiang, Jiuzhaigou, Guilin, Beijing, Chengdu, Qingdao, Xi’an and Hangzhou.
Online travel consumers are most interested in the following travel destinations outside of China:
Hong Kong, Macau, Thailand, Korea, Japan, Maldives, Indonesia, Singapore, Taiwan, Cambodia and
Malaysia.
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Online travel industry: consumer psychological
needs
Interest

9.63X

5.53X

2.21X

2.11X

1.51X

Travel

Jewelry &
luxury goods

Computers &
Electronics

Beauty &
Cosmetics

Real Estate

11) Points of interest

As consumers in this industry generally have more disposable income than the average online users,
they are more inclined to browse about “jewelry and luxury goods” as well as “computers and
electronics”, other than obtaining information related to travel. Relevant data shows that these
consumers display 9.63 times and 5.53 times more interested in information falling under these two
respective categories than the average online users.

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Online travel industry: behaviour analysis

The backpacker

Self Traveller

Honeymooner

Photographer

Shopper

Age
Group
TOP

20-29

30-39

20-29 max. followed

30-39 followed by

30-39

by 30-39

20-29

Origin

Beijing, Guangzhou,
Shanghai,
Chengdu, Wuhan,
Fuzhou, Hangzhou

Beijing, Shanghai,
Chengdu, Tianjin,
Guangzhou, Xi’an,
Suzhou, Shenzhen

Beijing, Shanghai,
Tianjin, Hangzhou,
Suzhou, Nanjing,
Shenzhen

Beijing, Shanghai,
Chengdu, Tianjin,
Hangzhou, Suzhou

Beijing, Guangzhou,
Shenzhen, Shanghai,
Chengdu, Tianjin

Gender
ratio

(M)52.8% /
(F)47.2%

(M)71.1% / (F)29.9%

(M)64.4% / (F)35.6%

(M)70.5% / (F) 29.6%

(M)38.9% / (F)61.1%

Interests

eCommerce &
online retail, sports,
leisure and
entertainment

Automobile, jewelry &
luxury goods, banking
and finance

Jewelry and luxury
goods, cosmetics
and beauty products

Computers and
electronics

eCommerce and
online retail

Device(s)
used for
Internet

PC

PC and Mobile

PC

PC

PC and Mobile

TOP

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Online travel industry: behaviour analysis

The backpacker

Self Traveller

Honeymooner

Photographer

Shopper

Conversion
Path

7-14 Days

7-14 Days followed by
15-30 Days

>30 Days

15-30 Days

7-14 Days followed by
less than 7 Days

Touch
Points

>30

10-20 followed by
20-30

>30

10-20

<10

Specific
characteristics

•

“Graduation trips”,
primarily students
in universities and
born in 1990s (not
much ratio
difference between
male and female)

•

•
•

Usually a large
majority of people
joining graduation
trips and mostly
local travel; Less
majority choose to
travel within China
and Taiwan

Mostly car owners
and family
oriented with
money surplus
available for
frequent travel for
relaxation

•

•

Honeymooners are
mostly in their 80s,
originated from
countries with high
living standards (more
males in this group)
Look for romantic,
relaxing holidays
especially on the
coast; Main
destination within
China is Hainan and
outside of China
would be Maldives,
Tahiti, Europe, etc.

•

•

Photography
lovers, mostly
males and born in
the 70s and 80s,
great interest in
electronics
Primarily prefer to
choose
destinations
known for their
exotic landscape
and seasonal
travellers

•

Primarily female,
born in late 70s and
are usually from
well developed
cities within China

•

Self travellers are
predominantly
made up of late
70s and early
80s, more males
in this group “

Most of them have
successful career
and love to shop for
luxury goods to
reward themselves
or to buy it for
friends and family.
They are also avid
online shoppers.

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iClick – key strategies to increase your
revenue
From Media Buy to Audience Buy
The fragmentation of the industry's user profile means that we can no longer rely on the typical
behavioral patterns when it comes to media buying. We need to move towards automating the
traditional methods of media buy. With a better understanding of the typical traveler’s behavioral pattern,
needs and demands, our robust technology in audience buy can assist online travel advertisers in
locating their target consumers, investing in advertisements and marketing in a targeted manner.

Media Buy

Audience Buy

Difference in
Focus

Mainly focus on media content

Mainly focus on personal traits of the consumer

Difference in
approach

Ad placement and position

Audience segment and needs

Difference in
Technology

Targeting by URL and web context

Targeting by users cookies

Distributed in a “net-casting” manner

Create personalized ad display for online users
who exhibit similar behavior patterns that are
most relevant

Features

* The “Database of Audience Classification” will build a personalized profile catered for each and every target user. The
data can be categorized into the following types: demographics, geographic locations, lifestyle, types of social media
used, points of interest, etc. Every category will be further divided into sub-categories in forming a complete and
comprehensive description for each individual.

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Solution to increase the conversion rate of
purchase
Volume of Sales = Number of users x Conversion Rate of Purchase
It is essential to consider customers’ needs as top priority if we are to seize the market. So how can we
effectively make "audience buy" a reality?

1) Audience buy via audience segment targeting
iClick connects quality media partners and covers over millions of Internet users. The users are
categorized into 22 categories in accordance to their behavior traits. Within each category, we further
classified these individuals into 4 to 6 different levels. With the specific performance data available from
each category, iClick is designed to provide any online travel clients in performing audience buy by
optimizing their advertising campaigns across online channels for the best configurations and thus to
maximize ROI in a sustainable manner.
• For example, products such as an "Island Honeymoon" are specifically recommended to female
online users aged between 20-29 who are interested in wedding gowns and rings. In accordance to
their income level and regular browsing habit, we can simply divide the ads into “great value” or
“premium relaxation”
• Particular segment who have once searched for flight tickets and hotel reservation about South East
Asia, we can further sub-divide the segment to “flight deals” or reservation for “luxury hotels”

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Solution to increase the conversion rate of
purchase
2) Cross-channel solution for audience fragmentation
In response to the continuous growth of the online market and the increasing complexity in the
conversion process of an online travel consumer, the fragmentation of this particular target audience
means that a single channel of advertising is no longer able to satisfy the needs of the marketer. Hence,
the primary use of cross channel nowadays is essential for marketers to gradually catch on in delivering
their target markets with relevant messages.

Channel Assist Effect across
various media:
Accurate analysis of various
media across different channels
for channel optimization resulting
in the "channel assist effect"

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Solution to grow the number of target
audience
Identify potential customer using machine learning
The traits and behavioral patterns of an online travel consumer are extremely complex. With more and
more online travel products entering the competition, more potential users would be able to identified. It
is therefore vital for marketer to invest in machine learning to identify potential customers akin to their
existing customers in terms of their needs and behavior.
Specific traits of this
population group:
Male, 30-39, High Income,
Beijing
Browsing habits and
preference(s):
Business
class airfare
Consumer
sample

Gadget for internet access:
Browser
Resolution
Time spent online
Sites browsed and keywords
searched
Number of clicks on a site
⋯⋯
(Over 600 traits)

Let’s set OTA client as an example. The client desires to promote its
business class fare deals to customers, XMO will first collect all the
relevant data of the related customer segment including their personal
traits, browsing habits and interests in order to integrate such data into
the database.

XMO will then employ the learning sample and use
that as a "prototype" to classify other Internet users
based on the level of similarities of personal traits,
habits and preferences in order to determine whether
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the potential users are matched for the advertising and 29 campaign.

About iClick
• iClick has pioneered Asia's first Cross-Marketplace Optimization (XMO) Platform,
introducing algorithmic optimization and programmatic media buy with exclusive focus on
performance marketing inventories.
• Integrate search marketing, display ad and mobile marketing to enable the channel
optimization for online advertising.
• Primarily focus on managing and connecting internet marketing strategies across various
channels that provide marketers with maximum efficiency and return on investment.
• Over 100 advertisers from Fortune 100 companies and various reputable multinationals;
Specialized in serving sectors with high concern on advertising performance such as
banking/finance, travel, CPG and eCommerce.
• Offices in Hong Kong, Beijing, Shanghai, Shenzhen, Singapore, Taiwan and Korea with
over 200 staffs.

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iClick – XMO Platform
iClick's proprietary XMO platform, the only online buy-side platform available for media buyers that provide
marketers with maximum efficiency and return on investment by involving optimization algorithms and taking into
account of numerous performance data as to predict online campaign performance in various online channels.
Also, XMO offers powerful and actionable insights through its robust, intuitive reporting and analytics system,
making sustainable performance possible for every marketer.
Audience Builder

Media Aggregator
XMO can access to a variety of digital
channels, biddable inventories and RTB
exchanges to reach the maximum audience
in your target market as shown below:
•
•
•

Over 95% in Hong Kong
Over 90% in China
Over 80% in South East Asia

• Sophisticated data-based empirical
analysis yields accurate insights that
enable marketers to learn how customer
behavior is affected at the key points along
the converting funnel
• Specialized in visualizing performance
through a combination of canned and
custom reports

XMO Analytics

•

•

XMO performs distinct audience
segments with the classification of
users’ interests and lifestyles to best
meet the different needs from the
advertiser
Using machine learning to identify
online users who exhibit similar
behavioral patterns to your converting
users

• Leading RTB technology that is built
on our self-invented cloud-based
infrastructure and featuring the
highest queries per second (QPS)
• Advanced attribution model with
multiple attribution settings available
right from the platform

Programmatic Buy

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Thank you
Website：i-click.com.hk
Weibo：weibo.com/iclickasia
Email：sales@i-click.com.hk
The intent of this document is to provide supplemental information solely based on the opinions of the Company. The Company
has made no effort to verify the accuracy and suitability of any information contained in this document. Accordingly, the
Company will have no liability or responsibility whatsoever for any content presented in this document.

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China’s Online Travel Market – Market Analysis Report 2012-2013

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