International Women's Day is particularly relevant to the travel agent community, where women lead in terms of numbers. A new research report shows this female-dominated profession should be very optimistic for its future success.
According to Phocuswright's latest travel research report, the industry as a whole - and travel agents themselves, have good reason for high expectations for business in the coming year. While the report focused on U.S. respondents, the Canadian travel agent community often mirrors the trends and successes of their American counterparts.
The research report admitted: "Our initial study examined the possibility of travel agency extinction. Instead, with business models changing, and new tools and technologies emerging, the need for professional, personalized services has stood the test of time.
"Travel agents are not only surviving; they are thriving."
The study shows that
- 70 per cent of agents "have positive expectations for the upcoming year" and
- leisure travel agents report "an overall increase of 108% in gross bookings over the past 12 months."
Despite "issues like economic uncertainty and the elevated costs of travel (especially airfares)" as well as the penetration of online travel booking which the report says has actually "plateaued," travel advisors are carving out a high-value niche for their professional services. No wonder we hear more and more expert travel advisors charging clients consulting fees for their work.
Phocuswright's table showing the main reasons clients book with agents, comparing traditional agency and home-based independent advisors shows that customer service especially for traditional agents (36 per cent), and particularly in the case of IC's (37 per cent), personal relationships are key to the success of the agent travel sales model - followed very closely by expertise.
Interestingly, price plays much less of a role.
The element of trust and personalization empower human interaction, and are clearly where travel advisors can shine in growing and retaining business even in a world of online sales.
The report concludes that, especially given their 'secret sauce' of value to offer clients even in an increasingly digital world, "travel advisers will continue to see momentum as categories like ocean and river cruises, tours and packages, luxury travel and group/family travel flourish."
