Travel Companies Struggle With Chaotic Surges in Bookings When Restrictions Lift
Photo Credit: In August Cloud7 Residence debuts a 75-room property in Ayla Aqaba on the Red Sea in Jordan, a Corona-free location for travel. McKinsey & Company has seen overnight jumps in booking volumes when, say, pandemic restrictions are lifted for a popular destination. Cloud7
Skift Take
Living with haphazard spikes in travel bookings is the new abnormal. Few brands are ready. But those that are prepped will take market share.
Dramatic changes in consumer behavior during the coronavirus pandemic have been hurting companies' profits and sales. One of the most troublesome new consumer behaviors is engaging in short bursts of booking travel online.
McKinsey & Company has been studying travel search and booking data to detect patterns. The consultancy believes that nimble suppliers and resellers will gain if they adopt more nimble marketing and pricing strategies to cope with the new realities.
"We've seen sudden shifts in consumer sentiments about the attractiveness of different destinations based on new information," said Nina Wittkamp, a Munich-based expert associate partner for McKinsey. "We've seen literally overnight jumps in booking volumes when governments lift pandemic restrictions
