Travel experiences will be a trend in 2023
According to the Phocuswright study, tours and activities are one of the main reasons people travel
"Experiences are the number one reason to travel," Phocuswright's Coney Dongre said of the travel, attractions and activities industry, which according to the latest Phocuswright study is set to boom in 2023. moderating today's TAA panel at the Phocuswright Conference in Phoenix, Arizona, commented that "tours and activities are one of the top reasons people travel."
The panelist, Luuc Elziga from Tiqets, added: "Experiences over product purchases is a trend that is taking hold, especially since the pandemic."
The challenge for TAAs in taking advantage of this demand is frequency, Coney added. “Experiences are low-frequency purchases. But are there ways for brands to increase engagement with their customers?” he asked.
Luuc Elziga has commented: "If travel companies integrate experiences into the customer booking process, [they are] likely to see fewer cancellations. If travelers participate in a great travel experience, loyalty [to their travel company] trips] increases significantly. The TAA is the union between the trip and the traveler".
And how can brands looking to expand into the TAA space succeed? It's all about personalization and making it easy for travelers to know how and what to book.
Tao Tao of GetYourGuide said: "In other industries, brands have told people what to see or hear. There is space for brands to answer the question 'what should I do?' Just like the Netflix and Spotify experience, people want to know: How do I spend the next 24-48 hours?"
Go City's Laurence Miall-d'Aout agreed: "It's about putting the customer first [and giving them the best experience]."