A retail renaissance is underway

Navigating a new world of shifting COVID-19 restrictions, changing flight schedules and fast-evolving consumer demands has presented a new set of challenges for both travel consumers and travel retailers in 2022.

But travel agent members of the Travel Leaders Network in Canada and the U.S. had the fortunate opportunity to attend an international conference recently, in a case of ideal timing to meet these challenges.

About 1,500 TL Network travel advisors and suppliers came to the town of Aurora, Colorado to attend the EDGE International Conference by the Travel Leaders Network. It was held at the sprawling Gaylord Rockies Resort & Convention Center, about 32 km from Denver. With the hazy line of the Rockies in the background, the advisors attended workshops and met a host of international and domestic suppliers at a trade show to hone their product skills.

During the conference portion of the proceedings, the advisors were given evidence of a trend that they probably knew was underway, but could not define with any set metrics. That is the fact that the destination product knowledge offered by travel advisors of all stripes is being increasingly sought after by consumers, who may have been let down by an online booking experience.

Consumers are emerging from the pandemic restrictions with a pent-up demand for travel and disposable budgets available for vacation aspirations, said Travel Leaders Group president John Lovell.

But they are doing so with a lack of knowledge about fast-changing COVID-related regulations across international jurisdictions – and while supplier programs and products are quickly evolving to meet demand.

As a result, the call for travel information by qualified advisors has been greatly amplified – to the benefit of Travel Leaders advisors. “More people who haven’t used a travel agent before are looking to use one now,” said Lovell. “In our keyword data, customers who had never used a travel agent were up 31% compared to 2019.”

Brighter days for advisors

One of the most surprising – and welcome – trends to be identified by TL Network was the fact that more youthful consumers are seeking out the expert advice of a TL Network travel advisor. They are doing so by searching the Agent Profiler program, a tool that describes the specialties, experience and expertise of advisors.

The average age of people searching Agent Profiler has decreased by 9%, or 4.3 years younger than in 2018, to 44.6 years old, says TL Network. “In fact there are more inquiries from people between the ages of 18 and 34 than from those 55 and older. Millennials – aged 35 to 44 – are the largest demographic group searching for a travel advisor.”

 “It’s a wonderful time to be in the travel industry,” said Lovell. “More than ever, people are travelling and booking trips with travel advisors. We have already seen strong sales for the second half of 2022, as well as into 2023 and 2024.”

More travel retailers are needed to meet this fast-rising demand for travel, says a leading cruise executive. “As travel becomes more complicated, advisors are needed now more than ever,” says Vicki Freed, the senior VP of sales and trade support & service for Royal Caribbean International.

Clients have more questions about vaccination requirements, foreign entry regulations and other protocols, said Freed. So, it has become the role of travel advisors to have this kind of information readily at hand. “You are the director of your own success,” she told the assembled TL Network members.

Product supply an issue

Amongst other trends identified by TL Network were:

• With pent-up demand and inflation, fewer discounts will be available. We are seeing higher pricing as we move into the summer months.
• Consumers are looking to travel in small groups and experience the outdoors after the last two years of limited travel and are willing to pay a premium for these products.
• Supply will be an issue, especially with river cruising, ocean cruising and in the resort/theme park sectors as we enter the summer travel season.
• Airlines are focusing on “fun and sun” markets, leading to fewer flights on predominantly business routes, on the corporate travel side.

More of the same is in store for TL Network travel advisors who attend next year’s international EDGE conference, which will take place May 8 to 11, 2023 at the Gaylord Opryland Resort in Nashville, TN.

Go to www.tlnetwork.ca for more.