Transforming #wanderlust with a digital economy
The way we travel a mere decade ago is vastly different from the way we travel today. In the past, we relied heavily on travel agents to take us to new destinations and attractions. Today, planning a getaway takes just a few taps on our smartphones.
This revolution of the travel industry is powered by technological advancements that provide a wealth of information and convenience at our fingertips. We have travel platforms like the DBS Travel Marketplace that provides a one-stop shop for flights, hotels and even complimentary basic travel insurance, while companies like Klook offer easy access to activities in destinations all over the world.
How will tech continue to fuel our #wanderlust? We sat down with Sarah Wan, Marketing Lead for Klook, to chat about the shifts in the travel industry.
Do you think technology has caused a shift in the way people travel?
With technological developments in the last decade, travellers are generally savvier now at researching and making their own bookings — a rapidly growing pool of Free and Independent (FIT) travellers is testament to that. With the transition of screens from desktop to mobile, travellers are also more familiar with the concept of e-tickets and QR codes, which also reduces paper waste.
What are some of the challenges that Klook faced when it was first launched? Are the challenges the same today or have they changed?
One of the greatest challenges for the sector is the tremendously fragmented global market, with most experiences provided by hyper-local small businesses.
These travel operators often lack the technical expertise and significant capital previously required to digitise their businesses. Before Klook, online booking systems and global marketing campaigns were far beyond the reach of “mom and pop” operators.
After the platform launched, businesses could attract more customers from around the world by delivering an on-the-go mobile platform for both sides of the market. By removing language barriers, introducing price transparency and making payments safe and easy, a connected, friction-less ecosystem is being built to open tremendous new opportunities for the in-destination travel industry.
The challenge remains to this day, though we do observe that operators are now more willing to embrace technology as they recognise a growing market of FITs that they can tap into through online travel agents.
How does Klook constantly innovate to ensure that they keep up with the needs of travellers?
With a myriad of travel information and resources online, it can sometimes be difficult for users to sift through what is relevant to their trip. One of our innovations is to house and break down complicated travel information, helping users with both research as well as their booking. This has worked exceptionally well for complex transport products like Europe Rail and Japan Rail. By introducing user-friendly interfaces and infographics, rail services experienced a significant increase in bookings from 2018 to 2019.
With over 5 million verified user reviews, we frequently study comprehensive user feedback and trends to determine relevant products that would resonate with our users. We then diversify our destination offerings to off-the-beaten-path and less visited areas. A favourite for Singaporeans includes Khao Yai, a UNESCO World Heritage Site and one of Thailand’s most celebrated national parks.
What are some trends you’ve observed in the travel industry? And where do you see the travel industry going in the next five years?
Solo travel is a rapidly growing segment that has much untapped potential. In a recent survey conducted with YouGov, which polled close to 21,000 respondents in 16 markets, we observed that 76% of respondents have either travelled alone or are considering it. Many might think that this is restricted to the younger generation, but high interest cuts across all age groups. We foresee more players in the industry will start catering to this rising number of solo travellers with more flexible, small-group offerings.
What is one of your most memorable travel experiences?
Climbing the wrong side of Halla Mountain in Jeju, totally unprepared. Instead of taking the scenic tourist route, we ended up scaling a path to mid-summit alongside locals in full mountain-climbing gear. Not something I would soon repeat, but will never forget!
Sarah Wan leads the marketing team at Klook, a leading travel activities and services booking platform founded in 2014. She spoke at DBS Asia X as part of DAX U, a series consisting of curated curriculum about innovation in different fields, offering DBS staff and the innovation community additional learning resources. Topics ranging from technology in data virtualisation to entrepreneurship tips and tricks are shared via brown bag sessions and mini-workshops.
