Travel booking companies spend a lot on marketing

In a bid to entice more people to book flights and accommodation, travel booking agencies are spending heavily on advertising, Reuters reported on Friday (May 13).

It comes as the summer travel season looms and companies want to try and get travel back to pre-pandemic levels.

Various companies like Airbnb, Booking Holdings, and Expedia have been among the biggest losers from the pandemic since its onset in 2020, as COVID quashed travel plans and, more broadly, the need to travel at all.

Now things may be looking up, with about six in 10 Americans planning to take at least one summer trip in 2022, according to data from the nonprofit US Travel Association.

Some analysts have speculated that it could be the biggest summer travel season in years. This comes with a new deluge of spending, with the industry expected to spend 14.2%, or about $4 billion, on digital advertising, according to statistics from marketing firm Insider Intelligence.

Reuters wrote that increased spending could reduce short-term benefits, though the benefits are likely to be much greater later.

The report said March ticket prices for U.S. domestic flights rose 15% month-on-month, although the rise did not hurt flight demand. As such, Reuters posits that Americans are currently unbothered by inflation in this regard.

PYMNTS recently wrote that Airbnb has set up a Trust & Safety Advisory Coalition (TSAC) to advise the company on how to make people feel safe when traveling.

Read more: Airbnb Intros Safety Advisory Coalition

TSAC will help promote a “trusted experience” before, during and after travel. It will be made up of 22 industry organizations and will advise Airbnb on “community policies, products, support, resources and training,” the company said.

TSAC has already hosted an in-person meeting in Washington, DC, and the group will meet quarterly to brainstorm and provide progress reports, sharing ideas between meetings.

——————————

NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveyed 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.

About admin

Check Also

Flood advisory issued in Montezuma and Dolores counties as rain hits southwestern Colorado – The Journal

Durango recorded monthly highs for rain in June with 1.25 inches. (Durango Herald file photo) …