Shifting Tour Offerings to Match Demand with Real Time Analytics
The pandemic has caused major disruptions to the travel industry, especially as the restrictions surrounding international visitation continue for an indefinite amount of time. Shifting tourism operators’ customer-base from international visitors to local residents has in turn left a majority of tourism operators with an excess of bookable dates that would otherwise be filled by international visitors.
As we transition into the summer season, which is typically busy with international visitors, tourism operators need to understand how to shift their current offerings to appeal to the local demand. One way to do this is through testing out new offerings and harnessing the power of real time analytics to discover untapped local demand.
Summer Forecast: Staycations and Small Group Travel
This summer is looking to be all about staycations and small group, local travel. As the warmer months approach people will want to safely experience the calming aspects of nature. With over 90% of searches directed at rural areas avoiding congested cities, crowded tourist attractions, and large events is the theme of 2021 travel. Adventure travel operators are uniquely positioned to take advantage of this opportunity.
Understand Demand Shifts with Real Time Data
Until now, there was only anecdotal evidence to support what was happening in the adventure tourism industry. At Yervana, we have created an analytical solution for tracking industry inventory to help destinations discover excess supply. The ability to test new product offerings and find untapped demand in real-time will allow tour operators to:
- Spend less time guessing what product will attract a local audience and spend more time out guiding
- Maximize revenue by finding untapped demand
- Adjust offerings as the market shifts from hyper-local to regional to international
Having the ability to understand demand shifts as they are happening is more important than ever. Taking into consideration the current environment and industry trends as they are happening, will lead to a stronger tourism product offerings to optimize bookings today.
Pivoting to the Local Tourism Market
Tour offerings in the short-term need to be compelling for local visitors. This pivot of product offerings and audience could generate new and profitable ideas for tour operators that could even continue to be a strong revenue stream post-covid.
When it comes to adjusting tour offerings for a local audience, through Yervana’s own data collection, we have seen more traction with adventures that provide the local customer with a new set of skills, access to equipment or areas that would otherwise be difficult for them to reach on their own.
In particular, the more complex the offering is or the more difficult it is to obtain or do by yourself, the higher the click-through to view available dates. An example of the ‘high’ category of assets provided with an adventure would be rafting, helicopter or boating adventures. The ‘medium’ category would include climbing gear, wetsuits or surf boards, and the ‘low’ category would include tents, skis or equipment while the ‘none’ category asks explorers to bring their own gear.
According to a recent survey of Canadians interested in adventure travel conducted by Yervana, 79% of respondents said that it’s important for them to know what is and isn’t included when booking an experience.
The more knowledge or uniqueness of an adventure that a guide can transfer to their explorers, the more enticing the adventure is. Explorers are looking to professionals to fill a knowledge gap about the outdoors. The data collected over the past 12 months supports this. In a recent survey conducted by Yervana, 27% of the survey respondents also said that reviews related to the knowledge and expertise of the guide is important to them.
Regardless of the uniqueness of knowledge, an adventure providing everything that the explorer needs to begin the adventure is most important.
YervAnalytics Data Solution for Tourism Operators
YervAnalytics’ insights gives tourism operators the ability to understand how to strategically shift supply from tours that are primarily purchased by international visitors to those tailored towards a local market. This understanding provides the ability to keep the same amount of inventory on the market but slightly change the offering to tap into domestic demand.
Curious to learn more about YervAnalytics? Get in contact with us today.