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Trip.com Group in 2023

09 April, 2023

Trip.com Group is safeguarding efforts toward global travel recovery by following its ‘Local Focus, Global Vision' strategy, which involves launching new and compelling travel products and services, including a content marketing strategy involving livestreams, user-generated content and Star Hub, a portal for partners to increase awareness and traffic to their products.

In January, Trip.com Group launched its “Super World Trip” livestreams series to further strengthen global travel recovery and stimulate tourism products in key destinations. Each livestream is tailored to promote short-haul travel to Chinese mainland consumers, including Bangkok, Tokyo, Singapore, and Hong Kong, among other destinations. Thailand held its first “Super World Trip” livestream in January, achieving a gross merchandise value of RMB 40 million, with over 20,000 room nights sold. This success has been mimicked in Tokyo and Hong Kong, with GMV reaching RMB 23 million and RMB 30 million, respectively.

Globally, Trip.com data reveals that individual travel spending is on the rise too. Average expenditure on flight bookings in 2022 was more than a third (37%) higher than in 2021, yet 11% below pre-pandemic levels. Meanwhile, average spending on accommodation was up by 10.5% than in 2021, which is 6% below 2019 levels.

Andy Washington, Trip.com General Manager EMEA, said: “Despite the rising cost of living, consumers are still eager to spend on travel. Many of those in the sector are calling this the rise of the ‘revenge traveller’. After a long period of being unable to travel at all, it is clear that people want to explore the world again. The Trip.com app is perfectly placed, as an all-in-one stop shop, offering significant savings and recommendations for those eager to travel, thanks to a wide range of products.”

While last-minute bookings became a feature of the pandemic, Trip.com data reveals booking windows have extended, signalling a positive return for pre-pandemic trends with a subsequent rise in bookings. In Europe, they are booking windows for flights extended from 17 days (December 2021) to 32 days (December 2022). In Asia, data reveals that bookings windows also rose from 15 to 25 days during the same period.

Taking advantage of the app offerings, today’s travellers are also digitally savvy, and online content watching is translating into bookings. Customers of Trip.com Group’s platforms are therefore becoming more engaged with content. More than a third (35%) of app users on Trip.com engaged with Trip Moments in 2022, and nearly a quarter (22%) were inspired to make a booking with Trip.com within a month of viewing content on the platform.

Today’s traveller has far greater awareness of sustainable travel options, with consumers showing a preference for green initiatives, provided options are available. Since 2022, Trip.com’s CO2 emissions offsetting partnership with CHOOOSE is offsetting across almost all flights, and it is most popular among Gen Z and millennials. Trip.Biz has also become the first corporate travel platform to provide transparent flight carbon emissions to corporate bookers.

In recent years, Chinese tourists have become an increasingly important driver of growth for many destinations worldwide, and the industry is closely watching their much-welcomed return. Trip.com Group data reveals that customers have been eager to travel since borders reopened, though their preference still appears to be for short-haul travel. Outbound search demand from mainland China has increased by 310% year-on-year, and flight capacity has increased by 152% year-on-year, showing steady growth.

As customers continue to eagerly take trips in 2023, booking stays are lengthening, and the number of searches is increasing, resulting in higher spending in the sector. Travellers want to make ‘each trip count’ and extend their stays after the frustration of being unable to travel. Trip.com shows how travel companies, throughout 2023, will continue to adapt and modify their product portfolio packages to meet evolving consumer travel trends.

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