As we embark on a new year of mobile commerce, CellPoint Mobile has already been busy developing a report that will be released in the coming weeks, Mobile Outlook 2018. The report looks at the trends, problems and opportunities that will shape the travel sector (air, ground, hospitality) in 2018 – leading to new and higher revenues at every touchpoint in the customer journey, and making travel easier for mobile-first and mobile-only travelers.
Last year, we saw historic growth in mobile commerce. Mobile finally overtook desktop and now accounts for 52% of overall ecommerce. In 2018, digital travel worldwide will increase 10.4% to reach $676B in sales, climbing to $855B by 2021. Our Mobile Outlook 2018 report sets the stage for the travel sector, helping you understand the mobile opportunity, and why 2018 is the opportune time to invest in mobile solutions.
Here is a brief preview of our Mobile Outlook 2018 report before it is published in the coming weeks, with a sampling of the issues and insights you will take away:
Travel Trends in Air
The growth in ancillary travel sales should make every airline ask a very serious question: Do we have a strategy that will help us collect more revenues directly from passengers through the mobile channel, at any point from beginning to end of their travels?
Travel Trends in Ground
The ground transportation industry must address a number of challenges as they convert their searching, booking, payment and ticketing systems from current processes and infrastructures to the mobile environment and mobile apps. Key questions must be considered, including: How can existing infrastructures – staffed ticket office, self-serve kiosks, payment terminals and boarding gates or platforms – be upgraded or adapted for mobile travel apps?
Travel Trends in Hospitality
Hospitality guests and patrons want fast, easy, seamless transactions whether they are booking a hotel room on their phone, paying for concert tickets at the gate, ordering room service or scheduling a tour. In fact, more than half of hotel bookings in the US are done online, influencing booking trends across the globe. How will hospitality providers meet the expectations of mobile-first guests?
Blockchain, Bitcoin and Digital Currencies
Bitcoin was the first and (so far) most successful digital currency, and has been gaining increasing recognition by businesses, investors and financial institutions across the globe, with a dramatic surge in price in late 2017. While blockchain – the technology that serves as the foundation of bitcoin – still has bugs to be worked out, consensus is forming around its potential to radically change (and disrupt) global business in much the same way that the Internet did. Learn more about the future of blockchain in our report.
Much of the growth in the Asia-Pacific travel sector is being driven by mobile commerce, particularly among Millennials who now represent the largest global generation. Between now and 2020, mobile will drive 76% of online travel growth in Asia-Pacific.
To succeed, travel merchants in the Middle East must build digital capabilities, tailor their distribution and payment models across countries and channels and engage mobile-first and mobile-only travelers. More than 70% of the population in the Gulf Cooperation Council (GCC) region are listed as mobile subscribers.
According to IATA projections, North American airlines will have the strongest financial performance in 2018, with net profits up nearly $1B. CellPoint Mobile commissioned a study of airline payment experts in North America, Europe and Latin America – all of whom share common challenges and opportunities around mobile payments.
The European travel market remains strong despite global crises, the failures of several regional airlines and increased competition from Asia-Pacific and the Middle East. Ryanair, an ultra low-cost carrier (ULCC), is now the largest European airline and will continue to spur larger carriers to expand and maintain their position, as global demand nearly doubles over the next 20 years.
Mobile Outlook 2018
The Mobile Outlook 2018 report will be available early Q1 2018 and will offer actionable insight into what’s happening in mobile commerce, what travel operators should be aware of and where travel is headed in a mobile-first and mobile-only world. CellPoint Mobile is excited about the challenges and opportunities that 2018 will bring, and we look forward to helping the travel sector make the next step toward capturing mobile revenue and making travel easier for travelers at every stage of their journey.