China Travel Livestream Value to Online Travel Decision-making Scenarios Report
【Posted on: 2021 May】
A new report from Analysys indicates that the scale of China’s network live stream users increased by 55.5% from 2018 to 2020, and the individual live stream market also grew gradually, thus laying a user base for the development of tourism live stream. In recent years, the transaction scale of the live-streaming e-commerce market continues to rise, which is not limited to the traditional offline channels.
However, the Chinese tourism market was affected by the epidemic in 2020, and the online tourism economy will be under great pressure. Therefore, it is urgent for China’s online tourism to take advantage of the live stream mode to activate the popularity, and increase order, help suppliers and platforms recycle funds and predict the future market, and promote the recovery of tourism destinations.
Under the epidemic situation, top platforms have taken the lead and led tourism enterprises to join the live stream industry, Ctrip’s online travel platform has achieved a record of 5 billion yuan for high star hotels.
Scenarios analysis of online travel decision making in China
Various factors, such as information resource collection, product attributes or brand concepts, travel reviews, and unexpected risks, are involved in the decision-making process of travel users, which will affect their final travel decision. In order to shorten the decision-making period, we must actively strengthen the deployment of each link of the user’s tourism decision-making. Online travel decision making has developed rapidly and is now at stage 3.0:
- 1.0: Note guide — build note-taking strategy community with massive picture and text information of tourist attractions
- 2.0: Short video — reach users with trendy short videos, “feeding” online and bring the user to travel platform for booking
- 3.0: Tourism live stream — watch the content of tourism products in the live -streaming and quickly trade and place orders. Users can also make an appointment for consumption.
Compared with note guides and short videos, travel live stream has a stronger transaction attribute, which can shorten the travel decision-making cycle of users and show the effective ability to sell goods. Although note guide and short video have a strong “feeding” ability, the conversion ability of internal trading is relatively weak. Tourism live stream makes use of marketing and pre-sale to improve the decision-making efficiency of users’ travel transactions by cooperating with the traffic resources of live stream platforms.
Analysis of the value of live stream to online travel decision-making scenarios
Various factors drive users to reduce their satisfaction with live streaming e-commerce shopping or increase the return rate of live streaming goods. Among them, quality and after-sales guarantee are the core demands of consumers, which have also become the pain point of the tourism live streaming market. According to the data, Ctrip leads the market in the write-off rate of nearly 50% of live stream products, and quality has become the guarantee-basis for core competitiveness. The live stream of major tourism brands on their platforms was excellent. The following are some cases to share:
- Ctrip’s “BOSS Live” cooperation with Chimelong Group generated over 100 million RMB GMV;
- The total transaction amount of Meituan’s “One Thousand and One Nights” super group-buying day exceeded 5.72 million yuan
- Ctrip did HNA summer special live-stream marketing; Fliggy did HNA live-streaming and amount of more than 100 million yuan sales on 11.11
- Ctrip launched more than 2,800 ski vacation products through its ski channel on the platform. In November, the number of bookings for ski-themed trips increased by over 350%
- With the cooperation of “Ding Zhen’s World” activity, Fliggy set off a tourism boom in Ganzi destinations, and the bookings of some scenic spots in Ganzi increased by more than 50% in the week compared with the same period last year.
Trend analysis of online travel live broadcast in China
The rapid implementation of 5G technology, coupled with AI intelligence, further expands the live stream scene and user viewing experience, meets the application needs of travel live stream + specific business scenarios, attracts a large amount of traffic and interaction, and strengthens the impact of travel live stream.
With the epidemic under control in China, the tourism industry has entered the stage of recovery. In the future, the boom of live-stream will be flat. Compared with the epidemic period, the product marketing mode of live-stream pre-sale will fall back somewhat. In the post-epidemic era, a combination of pictures and texts, short videos or live-stream can be used to build content consumption scenarios to provide consumers with auxiliary decision-making information.
In addition, using private traffic to operate tourism content can reduce the cost of customer acquisition. Compared with public traffic, private traffic has high controllability and precise access, and high-frequency interaction enhances user stickiness and generates more transaction behaviours. Finally, the tourism traffic pool can be expanded through social sharing to disseminate consumer decisions within the radiation circle.
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