The Fight Back
Thursday 12 November 2020 (10:00 to 13:00 UK)
Travel has arguably suffered more than any other industry as a result of Covid-19, but now it is time to fight back.
All players within the Travel Industry have suffered significantly from the drastic reduction in business brought on by the restrictions introduced by Governments across the globe. The rules that have been imposed are like shifting sands, changing all the time. This has let to considerable consumer uncertainty. Given that travel is a product that is usually bought well in advance of its consumption, this has led to consumers simply not wishing to book for fear of their trips being cancelled.
The Travel Industry has been addressing these fears by, for example, introducing terms of business that allow customers to cancel bookings or re-book for a later date. This has helped but it is only encouraging a small proportion of consumers to make bookings.
Those travel businesses with particularly high fixed costs such as cruise lines and airlines are losing tens of millions of pounds. Businesses with higher variable costs – mostly staff costs – have been able to take advantage of furlough schemes; but with these coming to an end, there are mass redundancies being made across the industry. At the other end of the scale, hospitality businesses such as restaurants have very small margins and struggle at the best of times.
The situation is dire but travel is not taking this lying down. Everything that can be done is being done to fight back, keep our businesses operating and looking forward to a return to normality.
Of course, it is likely that normality will be a new normal. The travel industry may have evolved. Our businesses will be more efficient, our online marketing and operational capability more effective and our competiveness raised.
In this, TTI’s Winter Forum, we will examine how the travel industry will fight its way back to normality. This may be as a result of better use of technology, it may be through industry players collaborating – working together for mutual benefit, improved customer acquisition and communication strategies or by operational efficiencies.
Attend this webinar to hear from experts in their fields who will explain what they are doing and what the travel industry can do to fight back.
- Kelly Cookes, Leisure Director, Advantage Travel Partnership
- Michael Madison, CEO, menumodo
- John Strickland, Director, JLS Consulting
- Eddy Swindell, CRO & Co-Founder, Fresh Relevance
- Anthony Beresford, Commercial Director, Beyond Analysis
The webinar is free to attend