How does one value, provide stock for your memory bank of a great travel experience? It used to be that a great trip was etched in stone with those reminders taking the form of bags of souvenirs, trinkits, momentos, all of which bought with no worry about cost to prove to friends and family that you had 'been there, done that' and were now contemplating your next trip, with lots of orders in tow for things to buy. People would ask and wonder how you could possibly have enjoyed a trip, anywhere, near or far, without bringing back lots of physical 'stuff' to show and prove that it was all worthwhile. The expense was worth it. I belong. Take notice.
Increasingly people are wondering, 'belong to what and want what?'
TRAVEL IS ABOUT THE EXPERIENCE, NOT JUST BUYING 'STUFF'
An increasing number of recent studies are pointing to dramatic shifts in how travelers, mostly millennials, are changing their spending and behavioral patterns in dramatic ways. Marketers would be well-placed not to ignore these trends given that this segment represents a roughly USD 1.3 trillion cash generating juggernaut in the US alone.
A report by Eventbrite conducted by The Harris Group concluded that millennials not only increasingly value experiences as opposed to hard assets or buying possessions, but are also seeking out more frequent ways to spend time and money on experiential things including travelling. And within the travel category, consumers are increasingly choosing a broader range of packages and categories that go well beyond just booking a flight and hotel.
The study also revealed that for millennials, "living a meaningful life is about creating, sharing and capturing memories earned through experiences that span the spectrum of life's opportunities." Three in four millennials would choose to spend money and commit more of their income on a desirable experience or event in comparison to a hard asset. Millennials are no longer driven to buy cars or homes. They want to learn about and travel the world, experience live events and in so doing, shape for themselves what is increasingly referred to as the experience economy. Whereas if you're about to buy a high-end watch, you might find the retail staff supplementing their routine pitch with complementary options such as yoga classes and exquisitely designed cafes. Clearly there's more to share with that experience than broadcasted photos of a watch.
THE CHANGING FACE OF TODAY'S TRAVELLERS
As travelers today become more sophisticated, peer-to-peer engaged and better informed, travel and its most desirable elements of surprise, magic, novelty and wonder have become increasingly challenging to achieve. The same destinations pop up, the same itinerary explored and gifts bought. We're moving beyond that. Technology brings promise. Now, we have the opportunity to bring the magic back into travel. But only if we first understand what the traveler wants. We also believe that the world will be a better place, when people's lives are enriched by the total experience.
People are willing to experience new things and explore new places, but there are several things that stopped them from turning their desire into action. They'd like to feel inspired (where should I go next?), challenged (what should I bring?), and figure out a budget (how much should I pay? When should I go?). At Traveloka, we are bringing our app experience from online to offline (which is built on the foundation of actionable inspirations). Traveloka is more than just a travel app. We are also building our inventory within the lifestyle ecosystem which can already be accessed through the Traveloka App.
By having a shared lifestyle and travel experience, people would like to be perceived as not missing out on the latest social trends that put a premium on uploading their treasured moments through social media. At Traveloka, we strive to better understand people's variable needs. We are also here to help them in creating and fondly remembering those moments.
Xperience Experiences
Our Xperience app empowers our users to discover the world around them. And we believe that discovering the world is achieved when our users are able to enjoy rich, unique and truly personalized experiences. The app currently serves more than 10 categories to fulfill our users' needs – whether to sightsee overseas, check out noteworthy local spots, have fun with friends y at the nearest sports stadium/theme park/water park/playground, or simply being pampered in a salon or spa over the weekend or after a tiring day. Again, travel experiences are so much more than booking a flight and hotel. Those days are gone.
"Given our steady growth and expansion throughout Asia including in all our business units in Thailand we were pleased to have the first launch event of Xperience in Thailand. Local and international travelers going or long or short haul excursions or short trips or event hobbyists looking for some quiet afternoon fun entertainment are turning to Xperience to make their planning easier, more convenient, affordable and most importantly, experiential," said Khun Tee, Country Manager, Thailand, Traveloka.