sharing economy

Travel and the sharing economy

The words ‘sharing economy’ are making a buzz in the travel industry. For the last couple of years, this phrase has been used over and over in the travel. So you can reckon that this trend is here to stay. So what exactly this means and how travel companies should respond to this new phenomenon?

Well, sharing economy corresponds to the shared process of travel that involves transport, accommodation and tasks. The word is as old as commerce itself. In fact, before the currency came into circulation, exchange of services or goods was the basis of the economy. The only thing that got a makeover in this process is the use of technology. The advent of technology has opened up new gates of communication, making travel affordable and flexible.

“The sharing economy has captured the interest of Millennials the most. They are definitely leading the charge. The next thing is its entry into the world of corporate travel. The business travelers are increasingly incorporating this new trend. They are sharing rides, accommodations and services at greater numbers. Now people are reaching out to complete strangers for mutual travel experiences. In fact, more and more travel companies are utilizing this trend set to become a massive phenomenon.” says Mike Putman, CEO, Custom Travel Clubs. The stats have shown a significant increase in acceptance of this trend within the corporate world. In other words, it is the consumerization of business travelers. The sharing economy trend has encouraged affordable business travel which, in turn, is made possible by travel companies.

Whether you are a travel startup company or a well-established travel brand, one thing is certain that you can’t ignore this trend. The number of Millennials using shared services is rising day by day. This peer-to-peer model is certain to bring a revolution in the travel industry in the coming years. There is a growing need to book shared accommodation options, sharing rides or group adventure activities.

The travel startup will require a lot of groundwork in understanding the consumer trends. You might need to find means to woo the travelers to the sharing-economy services provided by you. But if you are associated with a travel club then you can leverage this demand by providing travel loyalty programs.

The consumers are attracted by affordability, convenience, and services. A travel club fulfillment company can offer all of these along with added customization options. This will eliminate the stress of planning for travelers. The Custom Travel Clubs can help the travel startups by setting them up with a robust layout and a solid base.

Such travelers are continually seeking new connection, new marketplaces, new booking agents and more. As a newbie travel company, you can offer them deals on a budget along with member-exclusive access to various services such as car rentals or activities.

For longer travel trips, many corporate travelers are staying away from traditional means of transport or stays. You can offer them alternatives such as cruise trips, resorts or homestays, group travel, personalized travel itineraries and local experiences that large travel companies can’t seamlessly provide.

Custom Travel Clubs are the leading B2B membership based travel club fulfillment company that creates, operates and helps market travel clubs for brands and organisations around the world. We provide white label travel club platforms & solutions.

Custom Travel Clubs has partnered with the best in the industry to provide best deals on travels to the members. Our Loyalty program provides the best rewards, benefits and savings to the members. We make it easy for members to save on travel so that they can take the vacations that matter. See the full list of all the travel benefits we provide.

For more info, contact:

Mike Putman
mike@customtravelclubs.com
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