Double 11: ‘Buy now, plan later’ fuels China travel boom

Data Snapshot Alibaba’s online travel platform Fliggy achieved stellar sales this Double 11 shopping festival, underscoring robust consumer sentiment in the travel sector. According to data provided by the company, the number of buyers during Double 11 surged 40% YoY, while gross merchandise value (GMV) for reserved promotional items nearly doubled, indicating heightened demand for flexible travel options. Outbound travel GMV increased by 30% compared to last year, with popular destinations including Japan, Macau, and Hong Kong. Meanwhile, GMV for hotel bookings soared by 120%, driven by strong demand and innovative flash-sale offerings. Fliggy’s dynamic pricing strategies boosted hotel booking conversion rates by 70%, exemplifying the success of the platform’s consumer-focused approach. Analysis Fliggy’s Double 11 performance showcases its capacity to capture rising demand for travel in China, setting a promising trajectory for next year. The success of Fliggy’s “Buy Now, Plan Later” model, which allows travelers to secure deals while paying later, speaks to the increasing value-consciousness of younger consumers in particular. By prioritizing flexibility and forming strategic partnerships with airlines and hospitality brands, Fliggy is establishing itself as a key force reshaping travel booking behavior. The platform’s achievements point to broader opportunities for travel brands in China over the next six months. As consumer interest in travel continues to rebound, both luxury and mainstream travel brands could benefit by adopting flexible, forward-booking options, especially during traditionally slower periods. Fliggy’s strong growth in outbound travel also suggests that destinations across Asia and beyond may see increased demand, presenting valuable opportunities for tailored marketing and partnership initiatives that cater to Chinese travelers’ preferences. The Jing Daily Data Snapshot presents a swift take and analysis on the latest data from the leading research firms in the Chinese luxury and lifestyle markets.

Double 11: ‘Buy now, plan later’ fuels China travel boom

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Published November 14, 2024

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Double 11: ‘Buy now, plan later’ fuels China travel boom