Personalization in Travel and Tourism (2020) – Thematic Research

Developments in traveler maturity and expectations, alongside exposure to technological advancements outside of the tourism space are driving demand for an uptake in increasingly tailored services. Personalization is described as the act of tailoring an experience or communication to an individual based on learned information and is now deemed a critical theme across the travel sector. It has long been a buzzword within the travel and tourism sector as each industry ultimately aims to offer tourists the ‘perfect’ experience.

This thematic research report takes an in-depth look at the role of personalization within the travel and tourism sector today. The report looks at both customer and company trends related to the theme, then offering an array of case studies analyzing how companies are opting to curate the ultimate ‘personalized’ experience for the next generation of travelers. This is followed by an extensive industry analysis looking at the development of this theme, the impacts and offers critical recommendations for companies to be successful today.

“Post COVID-19 travel brands are going to have to be more flexible and transparent than ever to help heal consumer confidence. Yet if the combination between personal privacy and leveraging insights is right, there is opportunity for a winning personalization strategy which in turn can offer greater value and memorable experiences to customers alongside increasing brand loyalty, ROI and positive WOM (brand recognition) – a lucrative offering in light of this pandemic”. – Johanna Bonhill-Smith, Travel & Tourism Analyst, GlobalData.

Scope

This thematic report acknowledges how personalization has developed and why it will continue to play a critical role in the travel and tourism sector today, identifying the leaders and laggards within this theme.

Key trends identify customer sentiment towards personalization and how companies are actively working towards building a winning personalization strategy.

Several key case studies are included looking at the use of personalization across the travel and tourism supply chain identifying how and why major players are investing into this theme.

The impacts of personalization are then discussed to identify how this pivotal theme has changed and will continue to change the travel sector today.

A series of recommendations are then laid out to inform companies on areas that should be considered when adopting this critical theme.

Key Highlights

Surrounded by personalized services in their everyday lives, it is not surprising that individuals are likely to expect nothing less in their travel experiences. In order to make headway in the hyper-competitive market place, personalization is likely to be a powerful differentiator in future company strategies.

As the technology and travel sector become ever more entwined it becomes increasingly relevant that themes such as Big Data, AI, IoT and the Cloud will be driving major changes. Tech advancements are only going to heighten the levels of personalization a company can integrate into its offering to service the next generation of tourists.

A service based field, the end goal for all involved within the travel and tourism sector is to provide a satisfactory experience. Companies who hold a winning personalization strategy also have the ability to optimize operational efficiency, understand each customer, smartly allocate marketing budgets, and unlock more precise campaign targeting.

Instead of assuming what customers want, all companies now need to place greater emphasis on data and strategic analysis to fully understand customers on an individual, trip-by-trip basis.

Travel companies must get past looking at simply getting travelers from one destination to another but think about collecting information to build a 360 view of each individual customer. The tourism sector is based upon offering services and in-personalization techniques should inherently, not be forgotten.

Reasons to buy

Understand how personalization has developed over time and how it will continue to be a critical factor within the company strategies.

Access what technologies travel companies are utilizing to create winning personalization strategies, deepening their understanding of today’s traveler.

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 the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.

There are notable examples of how companies across the travel and tourism supply chain are integrating personalization into corporate strategies to effectively service travelers today and therefore all (airlines, intermediaries, lodging providers, cruise operators, airports, etc). should buy this report to fully understand how personalization will continue to be a key theme for future development.

Understand the impacts of personalization and identify the leaders and laggards within this theme to curate your own strategy effectively.

Discover recommendations that will help your company effectively service the next generation of travelers through investing into the right technologies and aspiring to offer that ultimate ‘seamless experience’.

Companies mentioned

Airbnb, Booking Holdings, Choice Hotels, Carnival Corporation, Delta Air Lines, easyJet, Expedia Group, GAdventures, Hilton, Intrepid Travel, Malaysia Airlines, Marriott International, Overland Ireland, The Walt Disney Group, TripAdvisor

Table of Contents

Executive summary

Players

Theme Briefing

Trends

Consumer trends within personalization

Company trends within personalization

Industry Analysis

Case Studies

Mergers and Acquisitions

Timeline

Impact on Travel and Tourism

Recommendations

Companies

Public companies

Private companies

Glossary

Further reading

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