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January 29, 2019
SINGAPORE | JANUARY 29, 2019: Airlines are expected to see a spike in sales from Singaporeans in the run up to Chinese New Year, the latest data from Worldpay, Inc. suggests. Analysis shows a 29 percent increase in the volume of flights being booked during the three weeks leading up to the start of the festival.1
This trend is not just isolated to Singapore. Flight bookings in China and Hong Kong have also experienced similar spikes of 12 and 72 percent respectively in the lead up to the New Year. Interestingly, the average booking value in Singapore decreased by 22 percent from US$568 in 2017 to US$440 in 2018, suggesting a rise in tech-savvy Singaporeans who are shopping around for the best travel deals and lower cost flights, coupled with greater competition in the airlines industry.
Commenting on the data, Phil Pomford, General Manager, Global Enterprise eCommerce, APAC at Worldpay said “The weeks preceding Chinese New Year is an increasingly significant period for the travel and tourism industry in Singapore with more and more consumers looking to get away and celebrate with family and friends.
“With increased competition within the industry, it is now even more important for airlines and travel operators to prepare for this travel spike in advance. As mobile payments are the most popular in Singapore2, it is imperative for both airlines and travel operators to ensure check-out pages are optimized for mobile, and that customers are given the option to book in the most convenient way possible.”
About the data
Figures quoted are according to Worldpay’s Global Enterprise eCommerce transaction data for airlines and online travel agents and operators from Singapore from January 2016 to February 2018.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B. Visit us at www.worldpay.com.
1 Analysis of Worldpay’s Global Enterprise eCom transaction data for airlines and online travel agents from Singapore during January 18 to February 07, 2016; January 01-28, 2017 and January 14 to February 03, 2018
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