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Research says operators could face difficult summer
British consumers are set to give the package holiday industry its “roughest ride yet” according to research by strategy consulting firm Latitude.
Latitude claims that while operators have been trying to get across the message that consumers must book early this year – arguing that the capacity reductions they have made means there will not be as many last-minute deals available – consumers simply do not believe it. And this may force the industry to discount heavily for summer 2002.
Its research, carried out last month, asked 1000 adults about their plans for booking a package holiday this summer. It found that among people who would normally book a package holiday, 23% would not be doing so this year. It points out that the 23% drop in demand is much larger than the capacity cuts made by the big four tour operators in the UK – which suggests likely overcapacity.
In addition, according to the research, of those people who are planning on booking a package holiday for this summer, 47% are going to wait until within two months of travelling compared to an industry average of 30% in normal years. And 37% of people making bookings will not only be booking late but will also be expecting a discount on the price of their holiday.
Latitude associate Kirsty McDonald told TravelMole: “People don’t believe that there won’t be holidays around. Maybe operators have cried wolf too many times in the past and said there won’t be discounts and now customers don’t believe it.”
She added: “You get a situation where consumer opinion becomes reality as it gives the holiday companies no choice but to make discounts.”
For more information on the Latitude research e-mail [email protected]
See our previous story:
07 Feb: Airtours ‘cautiously optimistic’ for year ahead
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