'Financially healthy, emotionally wobbly' customers 'a concern'

Another concern was how to make up for the two to three years of dwindling new customer bases, owing to the pandemic, with panellists discussing how to meet these challenges head-on.

 

Julie Lo Bue-Said, chief executive of the Advantage Travel Partnership, advised delegates to focus on their business plans and to stay in the market to take advantage when opportunities came around. “Stay focused on what is controllable," she said. "Don’t get distracted and worry about what you have no control over.”

 

Lo Bue-Said added: “You’ve got to be everywhere. You can’t avoid a particular channel because you’ve never been in that channel. Embrace technology to complement human interaction.”

 

 

Alcock’s fellow TTC director, Adam Pennyfather, said now was the best time to invest in technology. “The best businesses we’ve seen have invested across the business," he advised. "Tech brings more operational efficiencies, allowing you to scale up quickly and reach markets.”

 

Friday’s panellists also cautioned against travel "talking itself into a recession" with several delegates reflecting on consumers’ desire to spend and travel, despite the economic situation.

 

Sunvil managing director Chris Wright said: “Demand is still there, and people are still paying the prices. We’re not sure for how long, and we are seeing trade-offs, for example, swapping business class for economy.”