Personalization in Travel and Tourism – Thematic Intelligence

Travel operators have realized that building more relevant and personalized customer experiences is critical to maintain a competitive edge. To achieve true personalization, travel operators must engage their audience from multiple touchpoints, using data gathered from all possible sources.   This is where technologies such as artificial intelligence and specifically machine learning have been helpful. With a wealth of information, travel players, including marketers and brand executives can employ a variety of personalization techniques. However, the experiential travel trend, the long path to purchase, the abundance of choice, and rising consumer expectations have become much bigger challenges for travel brands that reject personalization.

The personalization in travel and tourism thematic intelligence report takes an in-depth look at look at how important personalization is in the travel and tourism sector. The report also highlights the strategies that companies are adopting to succeed in personalization.

Personalization in Travel and Tourism – Trends

The key trends shaping the personalization theme in the travel and tourism sector are industry trends and consumer trends.

Industry Trends: Some of the key industry trends impacting the personalization theme are the rise in usage of mobile travel apps, the increase in digital partnerships between travel and tourism companies and leading technology providers, and the rising use of technologies such as artificial intelligence and machine learning (AI and ML), Big data among others.

Consumer Trends: Some of the key consumer trends impacting the personalization theme are the launch of travel subscription models, personalization of loyalty schemes, and deconstruction of packaged holidays among others.

Personalization in Travel and Tourism – Industry Analysis

The online travel sales market size was $1.3 trillion in 2019. Factors such as increased digitalization, greater mobile phone usage, and an increase in internet users worldwide have supported the growth of online travel retail sales before the pandemic. Amid COVID-19-related travel restrictions, online travel retail sales unsurprisingly declined in 2020.

However, according to GlobalData forecasts, global online travel retail sales will experience rapid recovery as more travelers look to make purchases online. By 2025, online travel retail sales are forecast to rise significantly. Thus, the expansion of personalization will continue as a major theme within the travel and tourism sector.

The personalization in travel and tourism industry analysis also covers:

• Mergers and acquisitions
• Company filings trends
• Hiring trends
• Use cases
• Timeline

Online Travel Sales Market Forecast

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Personalization in the Travel and Tourism - Value Chain Analysis

GlobalData’s personalization value chain typically consists of three stages to any traveler’s journey: pre-trip, booking, during-trip, and post-trip. Value can be created by differentiation along every step of the value chain, through activities (often involving technology), resulting in products and services being personalized.

Pre-trip: The key layers of pre-trip are targeted social media ads, smart bid searches, persona specific messaging, and dynamic emailing.

Personalization Value Chain Analysis

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Leading Public Companies in the Travel & Tourism Industry

Some of the leading travel & tourism public companies making their mark within the personalization theme are Airbnb, Amadeus IT Group SA (Amadeus), Booking Holdings, Choice Hotels, Carnival Corporation, Delta Airlines, EasyJet, and Expedia Group among others. Airbnb is now a major leader in the personalization theme owing to its early adoption of innovative technologies such as the cloud, AI, and big data for personalizing content.

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Leading Private Companies in the Travel & Tourism Industry

Some of the leading travel & tourism private companies making their mark within the personalization theme are Fred Olsen Cruise Lines, GAdventures, Hays Travel, and Intrepid Travel. Private companies can also leverage their business by offering personalized services. For instance, Fred Olsen has built a loyal customer base as its smaller ships offer a more personal cruising experience to passengers.

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Personalization in the Travel & Tourism Industry - Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecards have three screens: a thematic screen, a valuation screen, and a risk screen. The airport sector scorecard has three screens:

• The thematic screen tells us who are the overall leaders in the 10 themes that matter most, based on our thematic engine.
• The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
• Our risk screen ranks companies within a sector based on overall investment risk.

Travel Intermediaries Sector Scorecard – Thematic Screen

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Personalization in Travel and Tourism Market Overview

Scope

This report provides an overview of personalization.

• It identifies the need for personalization to engage with travelers and succeed in a highly fragmented and saturated marketplace.

• This report provides a detailed industry analysis of personalization, discussing how it is being utilized across the travel and tourism value chain.

• We highlight travel and tourism companies that are leading in the personalization theme, such as Airbnb, Hilton, and EasyJet.

Reasons to Buy

The report will help to:

• Understand the impact of personalization on the tourism industry, using use cases to help you understand how you can adapt and understand this theme.

• Assess the strategies that companies are adopting to succeed in personalization.

• Discover companies that are leading in the space.

• View real-world trends created by integrating personalization across the travel & tourism space and throughout the traveler’s journey.

GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying important themes early, enabling companies to make the right investments ahead of the competition, and securing that all-important competitive advantage.