Agencies searching for ways to adapt to the "new normal"
Travel agencies are no longer seeking technology solutions that focus on providing content and product and are instead looking for platforms that can help them solve specific business issues, according to Sabre Pacific’s chief information officer.
Speaking at the Traveltech Reboot conference in Sydney, Mark Mison highlighted significant change within the travel distribution space since 2002 that has created a “new normal”.
While traditional travel agencies have displayed growth, on average 2% per year, rising from 10.5 billion to 11.5 billion over the period, the sector’s relative size and growth is, in fact, shrinking.
“The truth of it is that more consumers are booking with direct suppliers and more consumers are using alternative sources like online travel agents,” Mison said.
But the outlook does not necessarily have to be bleak for those bricks and mortar agencies, he insisted.
“It’s not just about doom and gloom, it’s about knowing your customer – understanding how they are changing and making sure that you are willing and able to change with them,” he said.
The last five years has seen a rising number of Sabre’s customers seek assistance from the firm in aggregating different sources of content and changing their business model from that of a traditional agency to that of a “retail merchandiser” with the ability to “up sell, cross sell, buy at one price and sell at another”.
Cost reduction is also a priority, as is the ability for agents to offer “hybrid, personal” services to their customers.
“Stuff that might have made you successful in the past provides no guarantee of your success into the future,” Mison warned. "Ultimately it's about you and your capability to change."
Email the Travel Weekly team at traveldesk@travelweekly.com.au
agents mark mison sabre pacific technology traveltech rebootLatest News
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