Customization - 1 of 5 major trends impacting travel programs
Report shows the lines of leisure and business travel continue to merge
23 JUNE, 2015
Business travelers are continuing to adopt new tools and apps inspired by the leisure travel and retail sectors, while catching on to widespread trends such as the sharing economy. Key innovations such as Big Data, virtual credit cards and social media are all paving the way for further “markets of one” customization - a term coined for a level of personal preferences and service which makes customers feel they are being treated exclusively.
But while travelers still express concerns about items such as data security, they appear willing to accept these changes where it makes their lives easier and better, especially as providers continue to find ways to address these issues with their offerings.
Carlson Wagonlit Travel (CWT)’s latest report, Faster, smarter, better?tackles the five key trends that are transforming the world of business travel: customization; mobile technology; the sharing economy; new booking methods; and new payment solutions. The report was created following a survey of over 127 travel managers and 1,080 travelers who fed back for the study.
The study also indicates that 35% of travel managers are planning to incorporate these technologies and trends they ranked as important into their travel programs and another 38% are actively considering them. For those looking to incorporate these trends, 56% are planning to do so within the next year.
David Moran, executive vice president, Global Enterprise Strategy, CWT, said: “As the pace of technological change is accelerating, so is market readiness for new ways of buying, managing and experiencing travel. In this increasingly connected world, the role of the TMC is also continuing to change – we’re helping clients to navigate these changes, providing new technology as well as ensuring they see all the benefits from the data that these new technologies provide.”
One travel procurement and policy manager interviewed for the study concluded, “TMCs are able to collect massive amounts of data and are in a position to build travel services that precisely match travelers’ wishes.”
To view previous studies by CWT Travel Management Institute, please visit www.carlsonwagonlit.com/en/global/insights/travel-management-institute/
CWT’s research for this report included:
Interviews with more than 65 travel management experts from companies, business travel associations, travel management companies, technology and solutions providers, travel suppliers, trade media and consultants
A detailed online survey of 1,080 travelers from four global companies and a similar survey involving 127 travel managers worldwide
Case studies of companies that have successfully implemented some of the new solutions
About CWT Travel Management Institute
The CWT Travel Management Institute publishes white papers, in-depth research and other content on best practices to help companies create the most value through their travel management programs. For more information and downloads, please visit www.carlsonwagonlit.com/en/global/tmi/.
CWT is a global leader specialized in managing business travel and meetings and events. CWT serves companies, government institutions and non-governmental organizations of all sizes in more than 150 countries and territories. By leveraging both the expertise of its people and leading-edge technology, CWT helps clients derive the greatest value from their travel program in terms of savings, service, security and sustainability. The company is also committed to providing best-in-class service and assistance to travelers. In 2014, sales volume for wholly owned operations and joint ventures totaled US$27.3 billion. As part of its commitment to responsible business, CWT is a signatory of the United Nations Global Compact Ten Principles. For more
information about CWT, please visit our global website at www.carlsonwagonlit.com. Follow us on Twitter @CarlsonWagonlit.