There is no doubt that the Travel and Tourism sector will be the undisputed leader in reaping the immediate financial rewards of the FIFA 2010 World Cup. To ensure sustainable, long-term benefits operators and service providers need to develop and implement strategies that meet the needs of an intensely diverse consumer base. Following the results of Accenture’s 2009 Global Consumer Satisfaction Report, hotels and airlines are at the high end of the performance spectrum, with the customer satisfaction ratings for these service providers at 47% and 37% respectively.
In preparation for the FIFA 2010 Soccer World Cup, we have taken a look at what impact this event will have on customer experience as well as the potential opportunities that can add value to an organisation.
Price sensitivity
The survey revealed significant price-sensitivity; however the majority of consumers are unwilling to trade product quality, options or customer service for lower prices. While 21% believe now is a time to stick with tried and tested brands, more than twice as many (50%) see this as a time to shop for better deals. Consumers now more than ever want their Travel and Tourism providers to meet or exceed expectations for “Competitive Pricing”, “Value for Money” and “Offering range” in order to continue doing business with these providers.
Preference for self service
As consumers’ familiarity with self-service channels increases so will their expectations for speed, convenience and personalisation. Research shows that 71% of gross travel bookings in terms of spend for 2008 among leisure travellers was conducted online. We have seen a trend over the past decade where customers have grown to not simply accept self-service but to expect and even prefer it.
Faced with so many and such varied challenges, aiming to be all things to all customers is unlikely to be a winning strategy. At minimum, companies must keep pace with these expectations and, at best, offer highly differentiated experiences that will be difficult for competitors to match or better.
About Accenture
Accenture is a global management consulting, technology services and outsourcing company. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. With more than 186,000 people serving clients in over 120 countries, the company generated net revenues of US$23.39 billion for the fiscal year ended Aug. 31, 2008.
They will be reaping the awards – that is for sure, with 100 – 400% increases in accommodation prices, flight tickets and more – yet the punishment will come thereafter where South African tourism will suffer – due to the gread during the World Cup!