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Improving the customer experience over the next 12 months was deemed by global travel and tourism businesses as the most important factor in a post-COVID-19 world. This was highlighted by global marketing research company, Euromonitor International, during a webinar hosted by World Travel Market last week.
Head of Travel Research at Euromonitor, Caroline Bremner, highlighted that data from a recent survey indicated that businesses had prioritised the integration of new technologies to achieve this heightened customer experience.
This included investments in artificial intelligence and 5G networks, as well as a continued trend for investing in virtual reality technologies.
Virtual reality grew in popularity during the pandemic as people were isolated at home with no way of travelling. Bremner said the research showed that the popularity of this technology might continue post-COVID.
“Already we’re seeing a relatively high number of global consumers (46%) saying that they value online virtual experiences, and if you break that down by demographic group, Gen Z [up to the age of 25] show an even stronger preference,” she said, adding that there were still 77% of consumers who valued real-world experiences.
Another trend noted in the report was an increase in brands operating with an overall socially responsible or environmentally conscious purpose. It found that 37% of travel companies were purpose-driven compared with 51% across all industries.
“Again, there’s a big shift that we could create and maybe look at to move towards a more purpose-driven business model,” said Bremner.
In a similar vein, more travel companies were investing in creating a circular economy, or a system aimed at eliminating waste of resources, in their businesses. This included 53% of travel companies aiming to invest in energy initiatives over the next five years and 57% aiming to invest in waste management and recycling systems.
Source: tourismupdate.co.za