With three blockbuster events unfolding in 2010, the Indian hospitality & tourism sector is the catchphrase for the world for this year. Marketers have to ensure that they milk this opportunity to unleash fast paced, sustainable growth
NET BOOKING
INTERNET TO THE RESCUE
According to IRCTC data, Online Travel portals have grown by 20% irrespective of the fact that the travel and tourism industry didn’t see any growth last year. By cashing in on business travellers, the Online Travel Agencies (OTAs) prevented major setbacks in 2009. And with the economy bouncing back, players have huge expectations from 2010. The OTA fraternity believes that the volume of consumers switching over to online tools for their travel related buying is proliferating every year. So can we catch up with world’s largest online travel market – US? “Not really, but the ‘offline to online shift’ has been the fastest ever in the Indian market, with over 40% growth,” answers Deep Kalra, Founder & CEO of MakeMyTrip.com. The company is extrapolating a growth of 25% this year. New kids are also scrambling to beef up their presence. One such player is Travelocity, which is aiming for a growth of 20% during the Kumbh Mela and Commonwealth Games. In the same league, Cleartrip has seen the first profitable month in January 2010. And Ezeego1is enhancing its product offerings by offering more value added product to corporate travellers.
TRAVEL ACCESSORIES
TO KEEP YOU COMPANY
“We would be rolling out a new collection during the summers and it’s not because of Commonwealth Games, but we are expecting a major growth this year as the travel sector is going to boom,” announces Subrata Dutta, COO, Samsonite South Asia.
As the travel buzz gains momentum in the course of the year, travel accessory manufacturers are expectedly seeing a wonderful opportunity to crank up those sales targets. Samsonite is planning to roll out its collection and has set aside a portion of its advertising budget to promote these products. Samsonite is not an exception; with recession finally bidding adieu and travel & tourism showing a sunny signal, many travel accessory companies are readying themselves to cash in on this opportunity.
Starting from sports brands to glares, from global giants to desi brands; all are in a spree to bank in on the travel quotient of Indian consumer. “It’s not always the travel quotient, summer is also another reason and our merchandise is for summer travels,” says Rajiv Mehta, CEO of Puma Sports India Pvt Ltd. From cargos to ruck-shacks, Puma is bringing out a range of products and the German headquarters has even given instructions to promote these products specifically to the tourists traveling during Commonwealth Games. In the same league, VIP Industries, whose growth plans was affected during last year’s slowdown, is now gearing up with its new luggage collection and to sharpen its edge of plastic moulded suitcases, the company is enhancing the same product portfolio with vibrant colours. Ray Ban does not have specific plans for the summer time but for travellers they are coming out with a sales promotion offer during April. Even if they do not convert to immediate numbers, the games will provide invaluable visibility for firms who are targeting the Indian market.
For more articles, Click on IIPM Article.NET BOOKING
INTERNET TO THE RESCUE
According to IRCTC data, Online Travel portals have grown by 20% irrespective of the fact that the travel and tourism industry didn’t see any growth last year. By cashing in on business travellers, the Online Travel Agencies (OTAs) prevented major setbacks in 2009. And with the economy bouncing back, players have huge expectations from 2010. The OTA fraternity believes that the volume of consumers switching over to online tools for their travel related buying is proliferating every year. So can we catch up with world’s largest online travel market – US? “Not really, but the ‘offline to online shift’ has been the fastest ever in the Indian market, with over 40% growth,” answers Deep Kalra, Founder & CEO of MakeMyTrip.com. The company is extrapolating a growth of 25% this year. New kids are also scrambling to beef up their presence. One such player is Travelocity, which is aiming for a growth of 20% during the Kumbh Mela and Commonwealth Games. In the same league, Cleartrip has seen the first profitable month in January 2010. And Ezeego1is enhancing its product offerings by offering more value added product to corporate travellers.
TRAVEL ACCESSORIES
TO KEEP YOU COMPANY
“We would be rolling out a new collection during the summers and it’s not because of Commonwealth Games, but we are expecting a major growth this year as the travel sector is going to boom,” announces Subrata Dutta, COO, Samsonite South Asia.
As the travel buzz gains momentum in the course of the year, travel accessory manufacturers are expectedly seeing a wonderful opportunity to crank up those sales targets. Samsonite is planning to roll out its collection and has set aside a portion of its advertising budget to promote these products. Samsonite is not an exception; with recession finally bidding adieu and travel & tourism showing a sunny signal, many travel accessory companies are readying themselves to cash in on this opportunity.
Starting from sports brands to glares, from global giants to desi brands; all are in a spree to bank in on the travel quotient of Indian consumer. “It’s not always the travel quotient, summer is also another reason and our merchandise is for summer travels,” says Rajiv Mehta, CEO of Puma Sports India Pvt Ltd. From cargos to ruck-shacks, Puma is bringing out a range of products and the German headquarters has even given instructions to promote these products specifically to the tourists traveling during Commonwealth Games. In the same league, VIP Industries, whose growth plans was affected during last year’s slowdown, is now gearing up with its new luggage collection and to sharpen its edge of plastic moulded suitcases, the company is enhancing the same product portfolio with vibrant colours. Ray Ban does not have specific plans for the summer time but for travellers they are coming out with a sales promotion offer during April. Even if they do not convert to immediate numbers, the games will provide invaluable visibility for firms who are targeting the Indian market.
Neha Saraiya and Angshuman Paul
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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