By Jane Sun, CEO, Trip.com Group.
After a challenging few years for the tourism industry, we are seeing a revitalised appetite for global travel. At the same time, we find ourselves amidst a paradigm shift in technology, fuelled by rapidly accelerating connectivity and innovation in areas such as AI and data. In this dynamic digital landscape, consumers demand more personalised and streamlined services to help them block out the noise and make informed travel decisions. Today, with the latest technological developments, travel service providers are more equipped than ever to satisfy these demands. Trip.com continues to create a simplified and hassle-free user experience, providing its consumers with personalised information at their fingertips, empowered by AI-led capabilities and innovative content marketing.
According to McKinsey research, generative AI can unlock between USD 2 trillion and USD 4 trillion in annual value across industries. This year, Trip.com launched an enhanced version of our AI travel assistant. The newly released TripGenie pioneers the concept of the Language User Interface to decipher complex requests and swiftly direct users to detailed itinerary planning, personalised recommendations, and flight and hotel bookings. AI assistance eliminates the manual effort of input and filtering searches, making travel planning and booking as simple as a chat conversation. Users who have engaged with TripGenie have shown stronger loyalty and satisfaction, with an order conversion rate twice that of the average user and a retention rate 30-40% higher than the average user. This directly translates into improved revenue, business growth for partners, and brand visibility and reach.
Netizens today are spoilt for choice when it comes to sources of information and offerings, which can make travel complicated and frustrating. AI-driven offerings such as Trip.com’s curated lists can simplify this process. Trip.Trends, Trip.Best, and Trip.Deals, enhanced by an AI-empowered algorithm, cater to different consumer groups and condense real-time information into a digestible format for smooth and easy travel planning. These lists are a part of the Group’s content marketing strategy to improve consumer awareness and provide the most relevant information and the best deals.
Another prominent technological trend is the rise of livestreaming platforms and social media, which support user engagement and content marketing growth opportunities. In the first quarter of this year, the number of influencers on Trip.com’s content platforms increased by 45% year-over-year and user generative content increased by 34% compared to last year. Additionally, the average amount of content viewed per user continued to rise, reflecting the success of the ability to attract, engage and retain users.
Livestreams have been a key growth driver for our business, which has outlasted the pandemic. The Group launched the “Super World Trip” livestream series at the start of 2023, which has taken off in Bangkok, Hong Kong, and Tokyo. The series was to promote short-haul travel to the Chinese mainland consumer and stimulate tourism products in key destinations. The first livestream held in Thailand achieved a gross merchandise value of RMB 40 million, with over 20,000 room nights sold. The success of this has been mimicked in Tokyo and Hong Kong, with GMV reaching RMB 23 million and RMB 30 million, respectively.
Customers are at the heart of everything we do at Trip.com Group, and technological innovation is an integral pillar of user experience. Going forward, travel service providers have the responsibility to remain cognisant of technological advancements and harness developments to unlock new value for customers. We play a crucial role in making travel accessible and convenient for our users, and deliver the most up-to-date and curated information to book the perfect trip.
Jane Sun, CEO of Trip.com Group, spoke at the SuperBridge Dubai Summit, which took place on 16 and 17 October at the Museum of the Future, Dubai.
Distributed by APO Group on behalf of SuperBridge Summit Dubai.
