Thematic Intelligence: Personalization in Travel and Tourism (2024)

Thematic Intelligence: Personalization in Travel and Tourism (2024)

Thematic Intelligence: Personalization in Travel and Tourism (2024)

Summary

This report analyzes the key theme of personalization in the travel and tourism sector. Personalization is taking on greater importance as travel companies look to build customer loyalty and improve customer experience. This report provides an insight into key trends, challenges, and recommendations, as well as providing concrete case studies to help the reader see examples of personalization in action.

Once travel companies gather the right data, the next step is to select and use the right technology to implement personalized experiences throughout the customer journey. Here, technologies such as artificial intelligence and specifically machine learning have overwhelming use cases where it has aided the development of personalization. The smart use of data and technology is important. However, these can only be useful with team members with the technical skills to extract meaningful insights that lead to better personalization strategies. In addition, travel brands need to ensure that customer data is used transparently and responsibly and invest in cybersecurity measures to prevent malware and hackers.

Travel executives have increasingly realized that building more relevant and personalized customer experiences is critical because it helps differentiate their brands in an increasingly competitive market. From hotels to booking sites to social media, executives and CEOs are thinking about the ways personalization can help them reach, and sell to, customers more effectively. To achieve true personalization, travel operators must engage their audience from multiple touchpoints, using data gathered from all possible sources. This typically involves investing in new technologies such as artificial intelligence and machine learning and overhauling legacy systems, in essence undergoing a ‘digital transformation.’

The experiential travel trend, the long path to purchase, the abundance of choice, and rising consumer expectations-all these become much bigger challenges for travel brands that reject personalization. As a result, the risk of being squeezed out of the marketplace and losing out on a share of the projected $4.34 trillion (2028) of online travel retail sales increases. With more choices open to consumers, travel brands face significant pressure to attract and retain customers. This means even more importance is placed on driving success from the company’s website and marketing channels

Scope

• This report analyzes the key theme of personalization in the travel and tourism sector.
• This report provides an insight into key trends, challenges, and recommendations, as well as providing concrete case studies to help the reader see examples of personalization in action.

Reasons to Buy

• Understand the impact of personalization on the tourism industry, using case studies 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.
• Analyze real-world trends created by integrating personalization across the travel & tourism space and throughout the traveler 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 the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.