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Travel Agencies Online
eMarketer, March 2005, Pages: 20
Still staggering from the post-9/11 slump, the $206 billion US travel industry is only now recovering, registering annual growth of 5% this year. By contrast, after recording huge gains over the past three years, the online segment should see growth in the high teens for the next three years. In 2005 alone, nearly one-third of US travel will be booked online, with online agencies accounting for nearly half of that total.
Unfortunately, usage has not translated into loyalty. Buyers bounce between sites looking for low prices. And the competition for consumers is putting the cooperation between suppliers and online agents under enormous pressure. If differences aren't resolved, this high-flying segment could come to the ground with a thud.
Read about what the changing marketing dynamics will mean for your company's future—today.
This report is for the attention of Online Travel Agencies, Airlines, Hotels, Rent-Car and All Travel Suppliers, Destination Representatives, Governments and Marketers.
The Travel Agencies Online report explores the competitive dynamics of the rapidly changing online travel industry.
It is a cliché now, but no less true, in the early days of e-commerce the online travel industry 'took off,' as millions of consumers booked their own travel reservations. Travelocity, Orbitz, Priceline and Expedia served as models—showing other industries innovative ways to use the Internet to bring better service and pricing options directly to customers.
While the US travel industry as a whole staggered following the terrorist attacks of 9/11—and the $206 billion industry is only now recovering, registering annual growth of 5% this year—the online segment recorded huge gains. This year, nearly one-third of US travel will be booked online, with online agencies accounting for nearly half of that total.
But with success has come competition. Selling direct, airlines and hotel chains have aggressively entered the market. Now shoppers bounce from site to site in search of the lowest price, and online travel search engines are springing up, serving up aggregated fares from multiple sources. As consumer options proliferate and the online travel market matures, who is going to win and who is going to lose in the race to dominant the $66 billion US market?
Key questions the Travel Agencies Online report addresses:
- How will suppliers and agencies maintain the balance between competition and cooperation?
- Which segments of the online travel market will see the greatest growth?
- Will price shopping become the single determinant for success?
- Will pricing pressures lead to cutthroat competition?
- How are travelers' shopping and buying habits changing?
- What new services will attract online travel buyers?
- And many more...
The Travel Agencies Online report aggregates the latest data from leading researchers—including comScore, DMA, Forrester, Hitwise, JupiterResearch, Keynote Systems, Nielsen//NetRatings and PhoCusWright—and adds eMarketer's objective, unbiased analysis to give you the information you need to make intelligent, well-informed business decisions in this increasingly competitive market.
List of sources
Center for Hospitality Research - Cornell University
comScore Media Metrix
comScore Networks Inc.
eMarketer
Forrester Research
Harris Interactive
Hitwise
JupiterResearch
Keynote Systems
PhoCusWright Inc.
Rockbridge Associates, Inc.
The Customer Respect Group
University of Maryland Business School
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