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Scope & Relevance of Travel Review Sites- SWOT Analysis

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The Presentation primarily deals with Different Stages of Travel Planning and SWOT analysis of Travel Review Websites in Indian Parlance.

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Scope & Relevance of Travel Review Sites- SWOT Analysis

  1. 1. Introduction:-The advent of the Social networking sites and high increase in usage of Internetvia Desktop/ Laptops, Mobiles has brought a revolution in cyberspace. Throughthe Internet, individuals can make their thoughts, opinions easily accessible to theglobal community of Internet users.In spite of the increasing importance of online peer-to-peer (P2P) informationexchange, establishing trust, credibility and accuracy of opinions has not been sopopulous thing in India. The Great Indian psyche puts online reviewers lower incredibility and likeability compared to traditional word-of-mouth sources due tonon-face to face interaction.India, when it comes to travel planning has its unique nature and taste. Heretravel is more of a family affair than isolated decision making and as I always say“Travel planning is the most essential thing which our country needs because nodemo, no trial packs are available to make sure one gets the optimum value outof trip each time”. Inception Planning Execution The stage where The Stage where The stage where people decides to people go through people go on the go on a voyage various online/ trip and replinsh considering off-line reference themselves. various factors like checks to plan. Booking and site time, money and Factor counts here seeing is based on distance. are Peer reviews, factors like Real Cost travelers Consideration, experience, Acutal, Conducive Reviews received and Real Time from trusted Information about sources and cost - Destinations, Experience Properties and optimisation. Attractions. Fig.1) Three stages of Any Travel experience
  2. 2. Relevance of Travel Planning:-Any well planned Trip always provides an opportunity to take the optimum valueout of it. As more and more people are opting for Internet for searches for everyfield and increase in social media suggest that people are more relying on the on-line buddy format; the relevance of Travel Planning increase manifold. Here aresome points which could be added to this:- 1. Use of On-line Platforms such as Travel Review (TR) sites helps one to mitigate the chances of impulse and instinctive choices from where to stay, where to eat to where to go. 2. Based on the Reviews shared on-line, one can co-relate to the views of the fellow travellers than reading any expert written column in a magazine or getting advice from any peer whose choice of staying or going never matches with one. 3. As said above, in Offline method there can be one way communication when you can read about a destination but cannot ask any query or get any response from editors in Real time. 4. Reading Reviews on-line are always more relevant as one can get the additional information cues like candid photographs added by travellers, reviews posted by same age group, use of basic language, tone and without any jargon, Relevance, clarity and practical tips shared by people. 5. Trip planning helps one to evaluate the alternatives available to a place, reduces the un-certainty factor, saves time and help to explore more.
  3. 3. SWOT Analysis of Travel ReviewSegment in India:- Strength Weakness Opportunities Threat
  4. 4. STRENGTH:-If we consider any parameter, be its efficiency, productivity or optimum valueproportion, the scope of Travel Review segment is huge in India. People eitherwants to go to the familiar places or to the places where any past experience hasbeen shared by any known person. TripAdvisor.in (TA) is the prominent on-lineTravel Review site which has over 3 mil uniques making it most sought outwebsite in cyberspace.Tripadvisor position in India:- *Data taken from Alexa.com
  5. 5. Weakness1. Weakness in this market is mainly related to the nearly non-presence of any other alternative website in this segment. The competitive sites are just having too low market presence to ignore. Even 12k uniques in a month could result into the number 2 for any website to feature as second best Travel Review website in India. Total notable market players in Travel Review segment:- Depth of Other Market players:-
  6. 6. 2. Website has to look for repeat users in a cost affected manner to maintain the content fresh, lively and up-to-date. 3. Websites rely heavily on Advertisement and the advertising partners’ aptitude to grow the budget over a period of time.OpportunitiesHere lies the importance of having TriporTrap to kick-start the business. 1. UI: - Web in 2012 and ahead is all about clutter free, conducive and more reach contented as displayed by various other segments of Industry (Cleartrip, Rediff and Google). TA is still working under its flagship portal kind of UI and the users are here for information, not for information maze. Triportrap is using Yii framework which is more advance as compared to existing market players 2. Market infancy: - Travel review market size being predominantly has been monopolised by TA, it still has not reached its peak in India. *http://www.internetworldstats.com/With 137 mil users in India, this segment needs more market players to act asforces to expand the market penetration. Competition comes in case of defined
  7. 7. market field and when the players have equal ground to provide the services tothe people, considering the under-development and infancy of this niche marketall forces can act as supplier and Demand creators. 3. Growth of Business Segment:- As per Economic Impact of Travel & Tourism 2012: World Travel & Tourism Council report suggests “Strongest growth in Travel & Tourism’s direct contribution to GDP will come from Asia, in particular South Asia (6.7%), driven by India (7.6%) and Northeast Asia also set to grow by 6.7% (driven by continued strong growth in China and the recovery of demand in and for Japan) where rising incomes will generate an increase in domestic tourism spend and a sharp upturn in capital investment.” In Indian economy, Tourism accounts for the largest chunk of service Industry. It contributes 6.23 per cent to tile national GOP and accounts for 8.78 per cent of tile total employment In India, Statistics show that in 2010, 25.8 million foreign tourists visited India, and revenue generated by tourism was Pegged at 200 billion US dollars In 2008, This is expected to increase to US $375.5 billion by 2018 - an annual growth rate of 9.4 pc
  8. 8. Threats Indian consumer behaviour pattern: - India, unfortunately, has seen OTA (Online Travel Agents) as the end resolution for booking of any property. OTAs have a simple interface which shows the one sided communication about the property (like brochures by hotels in pre year 2000 era) and showcase the price and availability to book. People considering only price as the deciding factor, book any property. Though this strategy could help the last minute hotel booking but for a family trip the planning starts for almost 1-3 months before the actual trip. (See below the OTA v. TR scenario in India) Comparison of Dominant OTA website and TR website in India:-
  9. 9. Comparison of presence of TR space Vs. OTA domain in India:-

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