(Yicai) Oct. 15 — Chinese online travel agencies are starting to roll out “book now, pay later” strategies as part of a slew of promotions offered by the platform. This means that travelers only pay on the days they use their reservations. As competition in the domestic tourism sector intensifies, preparations are underway for next month’s Double 11 e-shopping boom to attract more customers.
Travel giant Trip.Com yesterday launched a “Book Now, Pay Later” feature that allows customers to book without paying, eliminating the risk of customers losing money if they change or cancel their reservations.
The offer primarily applies to hotel bookings and includes 90,000 hotel package deals from 300 hotel groups in 15 countries and territories around the world, company officials said. The Shanghai-based company’s hotel packages are typically valid for 120 days, but can be valid for up to a year. Reservations can be canceled at any time without payment.
“This is a way for e-travel agencies to attract customers from other channels,” said Wei Changren, founder of travel news portal BTIII. The hotel will not refund the full amount.” Therefore, some companies have adopted a “no payment booking” strategy during the Double 11 promotion period to avoid customers suffering losses. ”
Online travel agencies face stiff competition from social media platforms and live streaming studios that may not specialize in tourism but have large networks and huge databases. Platforms such as instant messenger WeChat and on-demand service giant Meituan are siphoning off many customers. This has put pressure on online travel agencies, forcing them to create new models or offer bigger discounts to attract customers.
Trip.com also plans to partner with over 100 global travel brands to provide subsidies worth tens of billions of Chinese yuan (equivalent to billions of USD) during the shopping expo. officials said. The initiative aims to encourage consumers to book vacations at discounted prices, which are valid through the Labor Day holiday next May.
Editor: Kim Taylor
