Trustly has launched the first report ‘Rebound or rehabilitation?’ of its three-part travel insight series, which explores a post-pandemic future for the travel sector.
What is it?
The series contains insights from leaders in the travel sector. The first report focuses on the past tumultuous year for the travel sector from a macro-viewpoint.
The fieldwork involved two surveys, one being before the travel consequences of the pandemic became clear and the other being a second subsequent survey in the final quarter of the year.
Since the start of the pandemic, they have surveyed 450 Airline and OTA industry leaders and interviewed industry specialists from their distributing partner and integration network including Worldpay, PPRO and Amadeus.
Some stand out statistics from the study are that 70 per cent believe the competitive landscape has completely changed creating new opportunities for the strongest brands and it details that digital technology is seen as essential in order to seize these opportunities.
42 per cent of OTAs will prioritise improving digital channels for customer service and 32 per cent of airlines plan to increase their investment in direct-to-customer marketing.
The second report is set to be published on the 3rd of March and will look at the pandemic through the lens of payment leaders who the report states ‘grappled with a stress-test few had prepared for.’
The final instalment will be issued on the 17th of March and will take an in-depth look at some of the enduring challenges facing payments leaders – not necessarily borne of the pandemic, but certainly accelerated or brought into sharp focus.
Who is it?
Mike Parkinson, UK GM and Director of Travel
Trustly: a Fintech company that develops and sells online payment solutions.
What is being said?
In the report, Parkinson states: “We’re unlikely to see a return to ‘business as usual’, however, traveller expectations and behaviours have shifted.
“The economics of the travel and aviation industries are under fresh scrutiny, beginning their recovery saddled, in many cases, with new financial and debt pressures.
“Lessons have – hopefully – been learned from these last painful months and the sector’s embrace of technology, so accelerated by the crisis, shows little sign of slowing.”
Why should I read/watch it?
To learn more about the post-pandemic future for the travel sector with studies conducted from studies of the past year.