Hong Kong consumers take to the skies for the Year of the Pig
HONG KONG | JANUARY 29, 2019: Airlines are expected to see a spike in sales from Hong Kong travelers in the run up to Chinese New Year, the latest data from Worldpay, Inc. suggests. Analysis shows a 72 percent increase in the volume of flights booked during the three weeks leading up to the start of the festival.1
What’s more, airlines have experienced a 38 percent year-on-year growth in the total value of transactions made ahead of the holiday season. However, the average booking value has dropped by 19 percent from US$673 in 2017 to US$540, suggesting a rise in tech-savvy consumers who are shopping around for the best travel deals and lower cost flights, amid greater competition within the airlines industry.
Commenting on the data, Phil Pomford, General Manager, Global Enterprise eCommerce, APAC at Worldpay said “The weeks preceding the Chinese New Year is an increasingly significant period for the travel and tourism industry in Hong Kong with more and more consumers looking to get away and celebrate with family and friends.
“With increased competition within the industry, it is now even more important for airlines and travel operators to prepare for this travel spike in advance. With mobile payments gradually gaining popularity in Hong Kong2, it is imperative for both airlines and travel operators to ensure check-out pages are optimized for mobile, and that customers are given the option to book in the most convenient way possible.”
About the data
Figures quoted are according to Worldpay’s Global Enterprise eCommerce transaction data for airlines and online travel agents and operators from Hong Kong from January 2016 to February 2018.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global Omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B. Visit us at www.worldpay.com.
1Analysis of Worldpay’s Global Enterprise eCom transaction data for airlines and online travel agents from Hong Kong during January 18 to February 07, 2016; January 01-28, 2017 and January 14 to February 03, 2018
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