As the festive season approaches in India, there’s a palpable excitement, not just because of the celebrations. Travel enthusiasts nationwide are gearing up for memorable journeys, and the latest trends suggest that India’s travel industry is set to experience a significant upswing.
Here are some insights from ‘India’s Festive Shopping Wallet 2023’ on the travel industry 2023, including consumer payment behaviour. The report also highlights how platforms like Paytm can help travel and hospitality brands connect with their audience.
- Increased Travel Spending:
A whopping 60% of consumers are gearing up to increase their spending on travel during this festive season. This surge in wanderlust presents a golden opportunity for travel and hospitality advertisers to capture the attention of eager travellers across some of the most engaging screens.
- Online Ticket Booking Dominance:
In today’s digital age, convenience is key. It comes as no surprise that 8 out of 10 consumers prefer to buy their travel tickets online. Whether it’s train journeys or flights to far-off destinations, online booking platforms are the go-to choice for travelers.
- Train and Bus Travel on the Rise:
75% of Tier 1 city consumers opt for train and bus travel. This presents a lucrative market for advertisers targeting specific demographics and platforms facilitating train/ bus ticket booking facilities. Paytm’s extensive reach can help you connect with this audience effectively.
- UPI/Wallet Preference:
85% of consumers prefer to pay for their travel expenses via UPI/wallets. This preference for cashless transactions aligns perfectly with Paytm’s capabilities, making it the ideal platform for engaging your target audience.
- Bus Bookings Set for Growth:
While online train and flight bookings have already crossed the 80% mark, online bus bookings currently stand at 8%. However, projections indicate a promising future with a CAGR of over 20% in the next five years. By targeting this cohort, brands can look at driving hyperlocal ad campaigns effectively.
- Influential Factors for Travel:
64% of travellers were influenced this festive season by the desire to visit hometowns and vacation getaways. Tier 1 city consumers, in particular, are more inclined to spend on bus and train tickets, making them a prime target for advertisers.
- Paytm’s Travel Opportunities:
Paytm is capitalizing on this surge in travel by offering discounts, cashback, and enticing deals on its app, facilitating bus, train and flight booking services. Brands can leverage Paytm Ads deterministic audience signals to reach these users transacting on Paytm. With innovative ad solutions that can help brands interact with their audiences across their transaction journey, Paytm Ads promises to make a lasting impression.
- Payment Platform Behavior:
Understanding consumer behaviour regarding payment platforms for travel searches is crucial. Paytm’s user-friendly interface and seamless payment options make it the preferred choice for many travelers, adding to its attractiveness for advertisers.
Notable brands like Singapore Tourism, Lufthansa, and Tourism Australia have recognized the potential of Paytm Ads in engaging their target audiences effectively. They use Paytm’s platform to showcase enticing travel offers, promotions, and experiences, reaching a vast and relevant user base.
The 2023 festive season promises a significant boost in travel spending. Travel and hospitality advertisers stand to benefit immensely by choosing the right platform to engage with their audience effectively. Paytm’s extensive user base, commitment to providing a seamless travel booking experience, and partnerships with top travel brands make it the ideal choice for advertisers in this sector. Take advantage of the opportunity to connect with the growing community of travel enthusiasts ready to embark on their next adventure. Join hands with Paytm and take your brand to new heights.
Know how Paytm Ads helped to amplify awareness of reimagined experiences in Singapore. To know more about Paytm Ads Solutions, write to us at email@example.com