How far could a traveller go to get the best travel options?
Cost-conscious consumers drive popularity of travel search and comparison sites
These are some of the findings from a recent joint survey conducted by GoBear, a metasearch engine for insurance and banking products, and KAYAK, the global leading travel search engine. Polled from 1,090 people aged from 18 to above 45 across Singapore and Hong Kong, the survey findings revealed consumer attitudes and behaviours on travel products and travel insurance.
Notably, the survey found that:
· Respondents compare an average of 4 websites or companies before they purchase travel products
· 18% of the respondents compare over 6 sites, in which, 2% of them even compare more than 11 sites before they make a booking
· More than half (51%) of all respondents said safety and security is their number one consideration when planning a trip, while price is the most important consideration (71%) when choosing an airline to fly with
The survey also showed distinct differences between travellers from Singapore and Hong Kong, the latter in search of attractions unique to the destination while Singaporeans are concerned about safety when planning a trip.
Flight delays were cited by both Singaporeans and Hong Kongers as the most frustrating situation. However, both nationalities differed on other upsetting situations when travelling– Hong Kongers rated loss of baggage and theft, while Singaporeans chose "too many tourists" as their second grievance.
An observation was that both Singaporeans and Hong Kongers are foodies when they travel, often in search of local foods to whet their palates. Although this is not new, this may be another point of mutual comparison.
While travel beckons, awareness on the importance of travel insurance is low. Majority of the respondents (54%) across all ages are willing to spend around 5% of their travel cost on insurance. This finding is similar to a recent survey conducted by the Singapore Tourism Board, which led to a campaign in February to persuade the public to purchase travel insurance for their holidays.
Commenting on the survey findings, Andre Hesselink, Chief Executive Officer at GoBear said, "We are encouraged to see that consumers trust search and comparison tools. This means that consumers are empowered to select travel insurance with the best value, which converts to more savings and better coverage. Comparison sites allow consumers to obtain unbiased, transparent pricing when selecting the most suitable travel insurance.There is also a need to educate travellers about the purpose of insurance and understanding its policies, as they find it too complex, or think that it is not necessary for a short trip."
"The results from the survey reinforce the importance of price for travellers, and we are glad to see that consumers in the region are savvy on using travel search and comparison sites for their planning. Nonetheless, we are surprised that 2% of the respondents search over 11 sites before making a decision. At KAYAK, we search hundreds of travel sites at once for our users. We believe our one-stop service provides a convenient platform for the time-pressed and price-conscious consumers to easily plan their itinerary," said Imbert Fung, Director, Southeast Asia and India, KAYAK.
The survey was conducted over a two-week period across Singapore and Hong Kong and is the first of such surveys conducted by the two companies.
For additional information about GoBear visit gobear.com.sg (http://www.gobear.com.sg/