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Insight of the Day: European travel survey shows complicated and unclear travel booking processes have led to 1 in 5 travellers turning to travel agents to manage requirements

A recent European consumer survey commissioned by FinMont reveals that complicated and unclear online travel booking processes are driving many travelers to seek help from travel agents.

Key findings:

  • High Dropout Rates: Nearly half (47%) of European travelers have abandoned online travel bookings due to complex processes.

  • Turn to Travel Agents: 17% of travelers are turning to travel agents to navigate these difficulties.

  • Reasons for Abandonment: Complicated processes (47%), lengthy and unclear procedures (16%), and lack of user-friendly interfaces (15%) are the main reasons for booking abandonment.

  • Missed Opportunities: With travel expected to increase in 2024, these issues could cost travel companies millions in lost bookings.

FinMont's Solution:

  • Payment Orchestration Platform: FinMont aims to address these challenges with its global payment orchestration platform, designed to streamline both B2C and B2B travel payments.

  • Customer-Centric Approach: By simplifying payment processes and offering various payment options, FinMont aims to improve the customer experience and increase conversions for travel companies.

Implications for the Travel Industry:

  • Customer Experience is Key: Travel companies need to prioritize simplifying their online booking processes and providing a seamless customer experience.

  • Payment Flexibility: Offering a variety of payment methods is crucial to cater to diverse customer preferences.

  • Data-Driven Decisions: Utilizing data and insights from surveys like this one can help travel companies identify pain points and optimize their booking processes.

Overall, the survey highlights the importance of user-friendly and transparent online booking processes in the travel industry. By addressing these issues, travel companies can improve customer satisfaction, reduce abandonment rates, and ultimately drive more revenue.

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