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Travel Tech - Market & Product Fit

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Travel Tech - Market & Product Fit

  1. 1. A faster way for travelers to discover weekend getaways and small business owners find customers
  2. 2.  USA travelers = 115 million (50% of total population)  Average annual household spend = $2,878  Average household/family size = 2.60/3.19  Average household that travel -> Between 36 & 42 millions  Estimated annual travel spend -> Between $104B and $120B  PhoCusWright estimates global spending (online & offline) at $1 trillion
  3. 3.  Websites on computer (66%)  Personal recommendations (29%)  Online ads (14%)  Tablets (11%)  Smartphones (11%)  Printed guidebooks (10%)  Travel agents (7%)  Travel providers (7%)  Brochures (6%)  Travel bureaus (4%)  Printed advertising (3%)  TV/Radios (3%) Question: What sources of information did you use to help you select the destination(s) for this trip? Select all that apply. Base: Independent destination selectors (2010 N=1,462; 2011 N=1,202; 2012 N=1,434) Source: PhoCusWright’s Consumer Travel Report Fifth Edition
  4. 4. • General Search Engines (Google, Bing) – 53% • Online Travel Agents (Expedia, Travelocity, Orbitz) – 43% • Traveler Review Websites (Lonely Planets, TripAdvisors) – 29% • Travel Search Engines (Kayak, Gogobot, Hipmunk) – 25% • Travel Provider Websites (Airlines, hotel chains, car rentals) – 24% • Destination Sites (Tourism bureaus) – 19% • Deal Newsletters (TravelZoo) – 11% • Travel Guides (Frommers, Fodors, RickSteves) – 10% • Social Networking Sites (Facebook) – 10% • Newspaper Sites (NYTimes, New York Magazines) – 5% Question: What type(s) of Web sites did you use? Select all that apply. Base: Independent destination selectors (2010 N=1,462; 2011 N=1,202; 2012 N=1,434) Source: PhoCusWright’s Consumer Travel Report Fifth Edition
  5. 5.  Promote local tourism & economy  Provide travelers with ease of use interface to publicly available information  Gamify travel experience (e.g. points for certain locations; create geocache by photo clues) and foster experience sharing  Facilitate car travel planning as 26% of surveyed intend to increase amount of travel by private vehicles; whereas only 19% by airplane and 9% by rail  Fast tool for destination selection and comparison  Mobile apps to help travelers identify points of interests, restaurants, shopping on travel site  Offline tools for budgeting
  6. 6.  Ease of use over content  Total price displayed  Easy to find  Clean design  Speed  Best price options over reduced booking fees  Users’ trust & comfort over data collection  Easy comparison  Personalized offers
  7. 7.  Agency-based commission  Accommodation (e.g. AirBnB™, BedandBreakfast™, OTA)  Transportation (e.g. rail, car rental, bus, ferry, airline)  Advertising  Google Adsense™  Sponsored ads from local vendors  Sponsored ads from local tourism bureaus
  8. 8.  Initial data content sourcing & tagging of keywords using official tourism bureaus  Lightly curated location profiles  Medium term: build user-provided content to reinforce keyword weighting  Allow user tags  Extract key words from forum for each location
  9. 9. Perform Discovery Compare Recommendation s Finalize Travel Components Perform Post- Purchase Research Take the Trip • Clean & fast search • Relevant results & information • Multitude of pricing options • Clear "best" pricing • Local providers contact info • Traveler reviews • Traveler photos • Professional photos • Simple transaction interface • Minimal relevant information collection • Links to content providers • Budget tools Route planning tool • Mobile apps with saved itineraries • Check-in and photo sharing • Offline reminder tools • Audioguides (?) • GPS function with saved checkpoints • Accommodatio n check-in tool
  10. 10.  Budget Tool (49%)  Price Including Fees (43%)  Interests/Activities (43%)  Travel Ratings/Reviews (39%)  Included Amenities (43%)
  11. 11.  Cosmetic / Conveniences  Recommendations/Merchandising  Core Search Results  Design Elements Needed  Interactive maps  Traveler reviews  Professional reviews  Professional photos  Traveler photos
  12. 12.  1-2 Trips (58%)  3-5 Trips (35%)  6+ Trips (8%) (only trips including overnight accommodated were counted)
  13. 13.  Percentage of all trips  Quick Getaways: 3 nights or less (44%)  Short Vacations: 4-6 nights (28%)  Long Vacations: 7-13 nights (21%)  Extended Stays: 14+ nights (6%)  Average days by incidence  Quick Getaways: 3 nights or less (63%)  Short Vacations: 4-6 nights (53%)  Long Vacations: 7-13 nights (42%)  Extended Stays: 14+ nights (13%)
  14. 14.  Priceline™ ($ 5.2B)  Expedia™ ($ 4B)  Orbitz™ ($ 779MM)  TripAdvisors™ ($ 559MM)

Notes de l'éditeur

  • Average of trip duration distributions of surveyed travelers
    Percentage of surveyed who have taken each trip category

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