Worldpay eCommerce expects online sales for airlines and travel agents in China to soar in the run-up to the ‘Golden Week’ Spring Festival – a growing phenomenon in global retail, travel and tourism, boosted by the growing wealth of Chinese consumers.
Global payment provider Worldpay saw payment volumes surge by 30% in China in the two weeks leading-up to Golden Week 2014 and with transaction values up 12% on average, the period represents a major boom for online travel retailers. Airlines also saw sales take off, experiencing a rise of 13% in online payment volumes over the three weeks leading up to Golden Week. During Golden Week itself, online payment volumes for airlines dropped 43%, a clear indication of just how many tourists from China had taken advantage of the week-long break to get away.
Thomas Helldorff, VP of Global Travel at Worldpay eCommerce, said: “The Golden Week ‘gold rush’ has become one of the biggest revenue opportunities for businesses in China, especially for airlines and travel agents as Chinese consumers look to get away for a week. If last year is any indication of what’s to come, these businesses will be ramping up their efforts to make the most of this short burst in booking activity”.
Spring sees the first of two annual Golden Weeks, marking the traditional Chinese Spring Festival. It is an official week-long public holiday in China and has become a focus for Chinese consumers to travel internationally or domestically to visit friends and family. This year, the holiday falls on 20th-24th February.
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Tom Parker / Nitesh Khetani
Golin for Worldpay, pr @ worldpay.com
About the data
Figures refer to authorisation data for airlines and travel websites visited by Chinese cardholders during the weeks prior to Golden week 2014 and are compared to average authorisation data between Dec 2013 and Feb 2014.
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