Today the importance of technological innovation in the travel industry is such that travel companies need to place it at the core of their business models in order not to depend overly on technology companies and not to be commoditised. In particular, technological changes are disrupting travellers’ consumer behaviour, with travel companies required to provide personalised travel experiences and mobile assistance to meet the expectations of the consumers of the data economy.
Technological innovation is constantly disrupting the travel industry changing travel consumer behaviour and forcing companies to change their business models.
After the rise of the online and then mobile channels, it is now the turn of big data analytics and artificial intelligence to have a deep impact on consumers and the competitive environment in the travel industry.
The analysis of data on travel consumers’ preferences allows companies to offer them a higher level of personalisation during the booking process and the trip itself, increasing conversions and enhancing the travel experience.
Over the next few years, travellers will increasingly interact with artificial intelligence agents, in the form of “chatbots” and virtual assistants, to seek assistance and make bookings.
The growing role of technology also means a more important role for technology players in travel, with companies such as Google, TripAdvisor and Facebook increasingly allowing travellers to complete bookings on their sites and following them during their trips, providing information and assistance.
The steady rise in popularity of mobile devices is having a strong impact in terms of both travel bookings and travel consumer behaviour. Apps and messaging services are expected to generate an increasing number of travel reservations.
As a result of the mobile, peer-to-peer and personalisation trends, travel consumers are today increasingly shifting from requiring services to experiences.
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