The constant speed of technological advancements and shifting consumer expectations make it harder to predict how the industry will evolve in the coming years. industry than it has ever been. If you look at macro trends, there is an unambiguous direction in travel that may fundamentally alter the current model of the industry as we know it.
The trend favors the final consumer and those who follow the principles of Darwin are most adaptable to change. They are more likely to endure and prosper. As a former strategist and public presenter on digital and technological trends, and currently running the venture-backed travel tech startup Here are my forecasts for the future of the travel business by 2030.
1. Customers will be empowered by more control and choices.
The tech giants are leading in the design of products that give the best customer experience From Amazon with one-click purchase for all sorts of goods to Uber with simple and quick pickups Our expectations are constantly evolving.
Customers are expecting more quicker and easier. Millions of reservations, analysed by Beyonk and her team, reveal that 70% of people make reservations within the first 48 hours of their occasions and events. This is likely to decrease since the hassle of locating and booking travel experiences diminishes.
2. Connectivity is going to become a commodity.
From 2006 onwards, the tourism industry has benefitted from in the last few years the General Transit Feed Specification, an industry standard that governs how data is available to all stakeholders in the industry. While it’s unlikely the other sectors of tourism will be able to benefit from the same standard however, connectivity will continue expand between resellers, suppliers and clients.
This is an inevitable evolution of the tourism industry . It is likely to continue to empower consumers with their decisions and, overall makes it easier to book and find the long-tail companies or book multiple categories at the same time. A variety of application-programmable interfaces may allow access to a significant portion of the inventory. A lot of travel agencies online could be able to access similar products which makes the branding, differentiation and user experience more crucial in order to stand out.
3. Personalization will be more important.
With the explosion of data, applications that can effectively display the relevant information in a way that is constructive are likely to prosper. The more companies are able to tailor their offerings to meet individual preferences and needs, the more likely they will win.
In the area of pre-sales they’ll be able make sure they are able to target the right people with an appealing offer and take them on individual customer journeys that are tailored to their needs -beginning with creating itineraries and selecting the best room and flights.
The issue that comes with Apple or Google altering their privacy practices and the ability to make use of third-party cookie has made it harder to tailor offers, advertisements and other communications to specific audiences. Businesses are investing more money to collect more personal data, such as emails. However, they’re also struggling in this regard, as Apple has introduced masking and obfuscation for email addresses, as well as privacy protection for in-browser applications which hides users IP addresses.
The opportunity to personalize your experience could be found via Web 3.0 — where everyone may have a profile that is followed throughout the web, and that could be shared with websites to display content that is specific to your profile, allowing you to enjoy the best browsing experience possible and let you manage the information you give away. People who can adapt to constantly changing privacy rules, and maintain strong strategies for personalization, will create solid customer relationships as well as have more efficient spending and lower the cost of getting new customers.
4. The online channels will be seamless when combined with traditional channels.
As virtual and augmented reality technology develops and becomes more affordable, the price of the devices will decrease dramatically. The use of AR and VR is likely to soon become the latest way to experience places, travel, and things to do.
In the beginning, when you purchase it will provide an immersive experience that is becoming more of the “try before you buy” approaches seen in the retail industry over the past decade, with more companies using these options. Check out my article, Ecommerce Trends for the Tourism and Travel Industry, for an detailed analysis of this.
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It is clear we are moving toward in-destination experiences where you can have an overlay of reviews for each menu item, or have a virtual tour guide giving you tips wherever you are via your wearable device. We, as both consumers and providers, will become more equipped with data to have better experiences. Those organizations that can cater to a more seamless online and offline experience could win big.
While it’s hard to know the future, patterns suggest that an industry’s future may be tied to the further maturation of relevant, timely data and making it accessible across all channels to please customers.