July 10, 2017
10th July 2017 – London – Worldpay, a global leader in payments, is predicting a bumper August for travel bookings as bargain-hungry Brits look to snap up last-minute summer deals.
An analysis of consumer spending patterns found that August is the busiest month for British online travel agents (OTAs), with bookings 10% higher than average for the year2 . Worldpay’s data revealed that web sales peak during the first week of the month, when the number of bookings is 23% higher than the last week of July.
The figures suggest that many of us are waiting until the very last minute when booking our summer getaways. And with the average holiday being 6% cheaper in August compared to the previous three months3 , the data indicates that it pays to wait: meaning that last-minute deals on travel and accommodation can generate significant savings for those savvy travellers willing to be more spontaneous.
Commenting on the data, Thomas Helldorff, Vice President Airlines & Travel at Worldpay said: “As the summer holiday season sets in, thousands of British holidaymakers will be looking to bag themselves a bargain before school starts again in September. With the pound tumbling in value yet again, holidays abroad are becoming more expensive for UK travellers, so it can often pay to wait until the first week of August to book hotels or accommodation, when the prices are considerably lower.”
Worldpay’s analysis also found that bookings through OTAs are increasing by 5% year-on-year4 , with more than three-quarters of UK travellers now booking their vacations online.5
Helldorff added: “Thanks to their ease and convenience, OTAs are quickly becoming the most popular way to book holidays. And with new legislation set to enhance existing ATOL protections for all online bookings by 2018 , we are expecting this number to grow even further. Savvy travellers love to shop around, research the best deals and book from a travel website that is convenient and easy to use. Offering a slick payment process helps OTAs to create a seamless travel experience to meet the demands of the modern consumer.”
Worldpay recently launched a new report on how travel companies can create a seamless travel experience, find out more here.
About the data
Figures quoted are according to Worldpay’s Global eCom transaction data for airlines and online travel agents in the UK during 2016. Worldpay processed a total of 14.9bn transactions at a value of £451.1bn in 2016.
Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to around 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types.
For more information, visit http://www.worldpay.com/global
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1Compared to average for May, June & July 2016
2Figures refer to average volume of transactions in August 2016 compared to the average for the whole year
3Analysis of average transaction value for OTA customers in August 2016 vs average for the previous 3 months
4Figures refer to YoY comparison of OTA transactions volumes 2015-2016
5Association of British Travel Agents holiday habits report 2016