Travel industry experts predicted a revival in the fortunes of high street travel agents at last week’s WTM Vision Conference in London.
Euromonitor International exclusively revealed to a packed room of more than 180 delegates figures from its new Forecast Update– Recovery In Sight? report.
The report predicts travel retail sales will grow 2% next year and around 3% for the following three years.
Euromonitor International’s Head of Travel and Tourism Research Caroline Bremner said the recession had seen holidaymakers return to the high street.
“People are looking for advice and piece of mind,” she said. “The high street is in a much better position than it was five years ago.”
The prediction is supported by the news Thomas Cook, Tui and the Co-op all plan to expand their retail estates.
Panellists from the engaging UK Outbound session agreed the future is looking bright for high street travel retail.
TUI UK and Ireland distribution director Nick Longman said:” Well run retail still has an important part to play in the market.”
Low Cost Travel Group chief executive Paul Evans agreed, but warned that the high street needs to reflect customers’ lifestyles and offer extended opening hours.
This sentiment was echoed by Monarch Airlines’ managing director Tim Jeans. “The evening bookings peak is critical,” he said. “If I have 10,000 bookings by 5pm, I know there will be 20,000 by midnight.
“The high street does not get that evening burst when people are prepared to spend money.”
Bremner added high street agents should “innovate more by seeing what other sectors are doing on the high street” such as selling coffee and travel guide books to expand their offering.
P&O Cruise managing director Carol Marlow added 90% of her sales come from travel agents, which had helped give the business a positive start to trading for the current season.
Also at WTM Vision, social media guru Graham Lee, chief executive of Firebrand, said the travel industry is one of the most buoyant sector in terms of embracing social media. He said “in pockets, it is the most advanced”, highlighting campaigns by First Capital Connect and Manchester Airport.
He added in percentage terms Twitter is more used in the UK than in the US.
World Travel Market Chairman Fiona Jeffery said: “The second WTM Vision Conference has been a great success. A record number of delegates heard fascinating insights from some of the travel industry’s most senior executives.
“Furthermore, social media expert Graham Lee gave delegates a thought-provoking presentation on how social media can fuel their business out of the recession.
“These insights, alongside the exclusive up-to-date research from Euromonitor International, will give delegates in intelligence they need to shape their business over the next twelve months.”
