When it comes to locking down a trip, most travellers start with the flights. So, staying on top of consumers' online flight booking behaviour is of paramount importance to airlines and travel businesses that want to maximise their sales.
Fortunately, aviation marketing technology company Yieldr, has conducted research recently to provide a few insights into this constantly evolving area. The study analysed seven million sales for both traditional and low-cost carriers throughout Europe and North America to develop a picture of current consumer behaviour and work out exactly when the largest proportion of bookings are made during the week.
It turns out that Mondays saw the highest level of booking activity with approximately 22% of bookings secured during working hours. This activity reached a climax between 11am and midday. Tuesday through to Thursday saw a decrease in bookings with the number rising again at the end of the week to around 17% on Fridays during working hours. Booking activity died down again on Friday and Saturday night before peaking again on Sunday afternoon at roughly 3pm.
As well as revealing the most popular booking times each week, the study detailed that consumers are making their bookings an average of 78 days in advance. The low-cost carriers were booked around 81 days prior to flights whilst the scheduled carriers were booked a little less in advance at around 55 days. However, Yieldr noted the 78 day average was mostly due to the long-tail bookings and that actually, the largest volume of bookings was recorded at between 0-10 days prior to departure, suggesting the last minute booking is still a force to be reckoned with.
It was further revealed that flights are much more likely to be booked in advance when larger groups are purchasing flights together or for more expensive journeys.
Gathering data on consumer behaviour is key to driving business in the travel industry. Why? Because the modern traveller craves personalised offers, tailored to their specific preferences as well as targeted information which they find genuinely useful, at a time when they genuinely want it.
Taking into consideration the information above can help you plan the marketing efforts of your travel business to communicate with and target your customers at a time when they are most inclined to purchase a ticket.
Need more information on how to put your travel business at the forefront of the pack? Contact us to hear about our range of digital solutions.