This Loyalty Programs In The Tourism Industry market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Loyalty Programs In The Tourism Industry market.
Loyal customers are one of the primary drivers of any business as it costs more to a company to sell to a new customer rather than selling to an existing customer. Loyalty programs are the rewards given by a company to those customers who make repeat purchases from the company. Loyalty programs in the travel industry have evolved in order to add more value to customers’ travel experiences. There is a continuous innovation in the loyalty program and reward system by the travel companies. The tourism sector has become highly competitive with more and more number of new entrants in all its industries. The higher the membership level, the greater is the privilege received by a customer in the form of rewards. These programs have proliferated the number of first-time travellers as well as the travel frequency of the same tourists.
Loyalty Programs in Tourism Industry: Drivers
Market Growth Analysis
In addition, loyalty programs have a positive impact on the occupancy rate, operating margins, profitability and revenue generation of the hotels. Some hotel chains offer a greater geographic coverage whilst other hotels offer free stays and other perks during the stay. Renting a car could be the last but not the least activity a traveller would do after reaching the desired destination; it even costs lesser than everything else a traveller has booked such as airlines, suites etc. These services provide higher levels of recognition to the frequent renters. National Car Rental is the pioneer company that started the loyalty programs. Its loyalty program “Emerald Club” offers reward points for business travellers as well. The Hertz Corporation is also one of the first companies to launch a travel loyalty program with its “Gold Plus Rewards System” as a three-tiered loyalty program.
Loyalty Programs in Tourism Industry: Mode of Execution
It is a prerequisite these days to have flexibility in loyalty program offerings because of the dynamic nature of the travel industry. Features such as using cell phone number instead of a long loyalty card number are trending today, which make loyalty programs card independent. Virtual offices for execution of loyalty programs make them platform independent as well. Completely customised loyalty programs and redemption rules can be launched based on the amount spent by customers, card holder’s demographic, date and time, goals reached, products bought, the location of the store etc. Travel loyalty programs can be launched on social media such as Facebook or through a firm’s own mobile application unlike the earlier scenario where loyalty programs had to be introduced at the point of sales only.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
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Competitive Positioning Matrix
Average Selling Price (ASP) Analysis
What Can Readers Expect from this Report?
- An overview of the sector, including the key factors that have shaped patterns and demand
- Not just data, but insights that you can incorporate in your strategic decision making
- Nuanced underlying factors that influence consumer behaviour
- Data points to understand the past, analyse the present, and project the future
- Trends that will impact the sector in the short- and long-term
- Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers