In a year marked by the resurgence of global travel, travel apps are witnessing unprecedented growth. Despite the economic challenges, the travel sector is set to record an impressive US$1.23 billion in revenue this year.
The phenomenon, popularly termed as “revenge travel,” has seen individuals worldwide seeking escapades post-pandemic, with Forbes indicating that nearly half of U.S. consumers are keen on increasing their travel activities this year.
A closer look at the 2023 data by Adjust reveals some intriguing patterns:
Travel Apps Soaring High: Travel app installs have made a significant comeback post-2021, reaching figures higher than pre-pandemic averages. Adjust’s data showcases an 18% rise above the Q4 2019 figures, marking consistent growth in the first half of 2023. A noticeable trend emerges in June, with travel app installs consistently exceeding the yearly average across 2021, 2022, and 2023.
More Sessions, More Journeys: Travel app sessions have increased phenomenally. Compared to the Q4 2019 average, the 2023 session rate is a staggering 87% higher. June remains a standout month in this aspect too, with each year seeing a YoY surge.
Extended Session Lengths: 2023 stands out with longer session durations, recording an average session length of 17.23 minutes – a noticeable jump from the previous years.
Engagement Levels Peak: Not only are sessions becoming longer, but users are also engaging more frequently. Daily sessions per user have witnessed a consistent rise in Q1 2023, indicating heightened engagement and user retention.
Higher Retention Rates: Retention rates for travel apps in Q1 2023 have significantly improved YoY. While the numbers may not be as high as other app verticals, the growth is undeniable.
Given the current upward trajectory, travel apps have a golden opportunity to refine their marketing strategies for the latter half of 2023. Key areas of focus could include mastering new advertising platforms like TikTok and Snapchat, combating mobile ad fraud, and gearing up for the critical holiday travel season. Successful ventures like Traveloka have already leveraged these strategies, reporting an 80% increase in marketing efficiency after partnering with Adjust.
In summary, as the world embraces the spirit of “revenge travel,” travel apps are poised for success. With the right strategies, they can further capitalize on the ongoing surge in global travel.
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