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Essay / A study to compare travel booking preferences of offline and online consumers
Travel and tourism is one of the fastest growing and largest industries in the world, contributing to a number massive business of over $7.6 trillion in 2016 to the global economy. From 528 million in 2005 to 1.19 billion in 2015, the number of travelers continues to increase globally and is expected to exceed 1.8 billion by 2030 (Global Tourism Industry – Statistics & Facts). According to a study, 36% of consumers will take an unplanned trip if discounts are offered. 41% of consumers are willing to make a purchase after receiving a promotional/discount offer via email and 25% of consumers will make a purchase after receiving an offer via SMS (Octane Research, 2015). When compared to the agricultural and manufacturing industry collectively, tourism is growing faster and faster. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get an original essay The constant development of the travel industry has shaped various pressure groups such as the World Travel and Tourism Council, which brings together airlines, hotels and cruises. and travel agencies/agents among its members and engage in tourism to a large number of destinations and countries (Cook et al, 2006). Information in the travel industry is a crucial factor not only when planning and booking, but also during the trip and sometimes even afterward. This is why tourism is one of the industries where the rapid development of technology has had a great impact over the last twenty years (Crnojevac, Gugie & Karlovcan, 2010). Rapid development in the field of information technology has radically changed the way of doing business in the tourism industry. The boom of the Internet and social media has emerged as the ideal tool to serve customers. This provision of first-hand information to travelers allows them to have a visual of the travel products offered either through graphic images and video clips. In the era of digitalization, travelers have a wide range of choices and easy access to a large amount of information, leading them to make better and informed decisions (Rensburg, 2014). When planning a trip, the traveler starts planning by contacting many airlines, hotels or tourist centers in search of flights, transfers and accommodation. Travel agencies can make this process easier and comfortable by giving the desired result. These agencies organize trips, informing the client about everything related to the trip such as the destination, hotels, the most suitable and comfortable means of transport (Cook et al, 2006). Today, travel has become cheap, affordable and depending on the taste of the customer, the number of travelers and the frequency of their travel in India and around the world is continuously increasing. To take advantage of ease of booking and comparative rates, consumers are turning to the Internet. More than 95% of potential consumers research online before making a travel purchase to find out the best deals and prices available to them (Octane Research, 2015). Online travel agents (OTAs) via the World Wide Web provide a point of contact for customers who are searching for a suitable travel plan, which is then booked by the OTA (Lohmann & Schmucher, 2009). In recent times, travel websites have grown to meet all the needs of travelers by providing them with a complete experience through.