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Stark warning for agents as more than 700 shops close
Almost 700 high street travel agencies closed last year amid stiff competition from online rivals, according to a new report from the Local Data Company (LDC).
LDC’s retail and leisure trends report found that 679 travel agency outlets closed in 2017, accounting for the third highest number of closures among high street sector operators.
Pubs saw the biggest decline with 747 outlets shutting their doors, followed closely by banks which closed 711 branches.
"The figures underscore the overwhelming level of competition facing the traditional high street travel agents from their online rivals," said the report’s authors.
Research conducted by audit, tax and consulting firm RSM earlier this year found that among 2,000 consumers, fewer than one in five said they booked their holidays in-store.
Ian Bell, head of travel and tourism at RSM said: "The competition from online travel firms is not a new phenomenon but the pace of decline among high street operators is still quite alarming.
"Consumers are still choosing to visit the high street in large numbers, but the overwhelming majority prefer the ease and convenience of booking their holidays online.
"The remaining high street operators continue to attract a more mature clientele, but the reality is that there will be many Millennials who have never set foot inside a high street travel agency.
"On the upside, our recent survey found little sign that people plan to curb their spending on holidays so operators will need to think hard about how they can connect with this new generation."
When Thomas Cook announced a further 50 shop closures last December, it admitted in-store sales had fallen to 47% of its total bookings, while online sales had risen 27%.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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