Published on : Jan 03, 2018
Albany, New York, January 3, 2018: A new research report offering analysis and insights on the travel agents landscape in UK has been added to the comprehensive repository of Market Research Hub (MRH). According to the report titled “TRAVEL AGENTS - UK - DECEMBER 2017”, smaller players continue to face pressures from global multinational giants, however, opportunities are opening up in the market owing to increasing emphasis on selling their own bespoke holidays. The travel agents landscape in UK is also shaped by macroeconomic factors, as consumer confidence related to economy drives international tourism.
According to the report, there has been a decline in travel bookings through shops in the UK, however, they still account for nearly 13% of all bookings. Thomas Cook and TUI continue to dominate the market, however, as these two players are focusing on selling their own holiday packages, it has opened up the market for smaller players who can customize the packages and offer a wider range of options for consumers. Travel shop bookings have been witnessing a decline since the global financial crisis in 2008, and they witnessed a decline in 2017 as well. The slowdown in the economy, combined with concerns about the implications of Brexit have created challenges for the economy. The travel shops need to offer specialized services, which are technologically advances to match the services offered by the likes of Thomas Cook and TUI. Attracting a new set of tourists and promoting alternative packages to Spain remain can be sources of opportunity for key players in the UK travel agents sphere.
In addition to offering insights on the consumer behavior, the report also discusses the key strategies of players operating in this market. The business strategies, latest product developments, technological advancements, and overall business scenario in this landscape is discussed in detail in the report. The report also estimates that travel shops have a high conversion rate, although Thomas Cook remains the company that has repeat customers and high brand loyalty. Although the proliferation of internet and smartphones has meant that travel shops are struggling to stay competitive, they can forge a place for their own in terms of specialized services. Millennials and consumers who have a strong preference for local buying are among the lucrative demographics for travel agents in UK. Overall, the report is full of historical assessment and future projections that can offer detailed insights to readers.
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