LockTrip Q3 Booking Report
Dear Community!
LockTrip is proud to release the first numbers regarding the booking activity on the marketplace for the past 1 year since it’s first launch.
We published no statistics so far as we didn’t want to make a room for wild speculation or set unrealistic expectations. And while this is still true today, we have observed an unexpected but encouraging development!
Let’s view the numbers first:
Q4 2017
In the last quarter of 2017 we have had only recently completed our ICO and the inventory on our pre-alpha marketplace was limited to a few hundred vacation rentals.
As a result, we did not receive any bookings at that time.
Q1 2018
In this quarter (Feb/March to be specific) we integrated 100,000 hotels into our alpha-marketplace and a few of our community members were brave enough to test the service. At that time the platform was not very stable. Initial users experienced many bugs, which were all resolved shortly after the reportings.
We received 9 bookings worth a total of 990 € during this quarter.
Q2 2018
The second quarter was a bit more dynamic in terms of bookings coming from our core community. While the service was still not very smooth, we had solved most of the initial issues and bugs. As a result, the feedback coming from users was much more positive and reassuring. We were also able to deliver our promise for the cost savings around the world.
During this quarter we received a total of 22 bookings (an increase of 144% regarding the previous quarter) for a combined booking value of 10,968€ (an increase of 1,108% compared to Q1).
Q3 2018
The most recent quarter was surely the greatest one yet. We launched the beta version of our marketplace. Feedback coming from the travellers this time included statements like “very smooth platform” and “a great booking experience”, with many of our users sharing exciting photos of their smooth travel experience.
This was reflected strongly in the booking behaviour of our customers. During Q3 we received 54 bookings (145% growth compared to the previous quarter) worth a total of 16,171 € (around 47% more than Q2).
Q4 2018
We just recently entered this quarter, but we are seeing positive results already. During the first week of the quarter we have received 8 bookings totaling almost 6,000€!
Summary
Q1: 9 bookings worth a total of 990€ / 110€ average booking value
Q2: 22 bookings worth a total of 10,968€ / 498€ average booking value
Q3: 54 bookings worth a total 16,171€ / 300€ average booking value
Q4 (First week): 8 bookings 5,977€ / 747€ average booking value
We have experienced growth rates at around 140% for 2 consecutive quarters now. Yes, the base numbers are still very small. But there are many upcoming events that could easily boost those numbers without doing any budget marketing. Some of those are listed below:
- Fiat Payments
- 300,000 new Hotels
- Flight Bookings
- Additional Marketplace Improvements
In any case, our primary focus will remain on improving the marketplace in both stability and features. As demonstrated clearly over the past few months, organic word of mouth marketing should not be underestimated. This means, that we are viewing the development work on the platform as a sort of marketing tool. The better it becomes, the better it will sell itself.
We would be happy to hear about your thoughts in our post-release conversation on Telegram (starting at 15:15 GMT).
Thank you for your support!
LockTrip is the first marketplace with 0% commission where you can save on average 20% on your hotel and rental bookings compared to anywhere else. Learn how to buy LOC tokens to enable access to our marketplace and its lower prices here!
