While both bricks-and-mortar and online travel intermediaries both suffered value decline due to COVID-19, bricks-and-mortar fared worse, as whatever future travel plans were made, were mainly made online, as COVID-19 limited movement in 2020. A lot of travel intermediaries’ time was taken up with handling cancellations and rescheduling.
Online travel sales are growing in Ukraine, due to several reasons, including higher broadband penetration and the growth of smartphones. Consumers are also becoming more aware of the benefits offered and increasingly appreciating the online customer experience.
When global travel restrictions do lift, the recovery will be driven by millennials and families, with older people being more reluctant to start travelling again, as they were the people that were most severely affected by COVID-19 and it could take a while for them to be confident about travelling again. As younger people are more likely to use online travel intermediaries, this will mean online current value sales will see higher value growth, especially early in the forecast period.
Across all travel intermediaries, the recovery post-COVID-19 is expected to be medium term, yet faster for operators that have embraced digital and there will be an accelerated move towards online platforms. As one of the only active booking channels available to consumers during 2020, more consumers will have gained experience using them, navigating the digital options and creating profiles, with that habit persistence likely to pay off for the booking platforms in the long term.
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Understand the latest market trends and future growth opportunities for the Travel Retail industry in Ukraine with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Travel Retail research and analysis database.
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