April 29 2020  |  Industry News

ForwardKeys research shows consumers still want to travel amidst booking decline

By Jas Ryat

Travel analytics firm, ForwardKeys, has released research showing the extent of the collapse in aviation in the wake of the COVID-19 outbreak. In the year to 19th April, air travel fell to exactly half of what it was in the equivalent period last year. The cancellation rate peaked in mid-March and global aviation seat capacity has fallen from over 40 million seats in operation to less than 10% of that number today. However, despite the decline of demand, flight search data reveals that consumers are still want to travel.

The year-to-date drop-off in flight arrivals has been most severe in the Asia Pacific region, where the outbreak started, down 56.1% on the equivalent period in 2019. Europe is next, with arrivals down 50.2%. Travel to Africa & the Middle East is down 42.6%; and travel to the Americas is down 39.8%. However, with over 90% of all flights currently grounded, the year-to-date trend is set to deteriorate substantially in the near term.

ForwardKeys’ analysis of year-to-date flight bookings shows that they are 86.8% down compared to the first 15 weeks of 2019. Bookings from Asia Pacific are down by more than 100%, which means that in the period, new bookings were outweighed by cancellations. Bookings from Europe were down by 84.7%, from the Americas were down by 75.9% and from Africa & the Middle East were down by 71.4%. Throughout March, there have been effectively no new bookings, as well as a massive wave of cancellations – and that pattern has continued into the first two weeks of April.

ForwardKeys has also undertaken an analysis of flight searches done in several countries during March, when most of the population has been in quarantine. It reveals that they are still researching foreign travel and, furthermore, that they have a disproportionate interest in long haul travel in the third and fourth quarters of the year. Countries researched include France, Italy, Japan, Spain and South Korea.

Olivier Ponti, VP Insights, ForwardKeys, said: “Whilst we are currently looking at a catastrophic contraction of the aviation market, with a tiny proportion of flights still in the air, carrying cargo, repatriations and essential travel, there are some noteworthy patterns in the data to bear in mind. First, the peak for summer holiday bookings is in May, so if the lockdown can end soon, there may yet be a chance to rescue the summer season, at least partially. Second, flight search data strongly suggests that consumers aspire to travel; so, once the restrictions are lifted, the market will eventually come back.”

Brand News

May 18 2020

Ricola moves forward with new product…

​The expert in Swiss herb products is pressing on with its mission to release new products into travel retail markets, despite…

By Jas Ryat

May 13 2020

DFD introduces new cluster dedicated…

​Duty Free Dynamics is a state-of-the-art, regional distributor of global brands within the Americas’ travel retail channel

By Jas Ryat

May 13 2020

Shiseido Travel Retail hit by COVID-19…

​Shiseido Travel Retail has reported net sales of ¥27.8 billion (US$255.2 million) in the first quarter ending March 31,…

By Mary Jane Pittilla

May 11 2020

Coty releases new Mr. Burberry…

​Coty has announced the introduction of Burberry’s newest men’s fragrance, Mr. Burberry Element

By Hibah Noor

May 11 2020

Viña Concha y Toro certifies its…

​In response to the complex health crisis in Chile and the rest of the world, Viña Concha y…

By Laura Shirk

April 30 2020

​Duty Free Dynamics and Samsonite…

Panama based Duty Free Dynamics (DFD) has announced the extension of its partnership with luggage manufacturer Samsonite.…

By Jas Ryat

April 27 2020

​Rodenstock propels ahead with…

As internal travel resumes in China, China Duty Free Group is once again enticing shoppers using online and e-commerce platforms.…

By Jas Ryat

April 24 2020

Duty Free Dynamics celebrates the…

Duty Free Dynamics announces the launch of Oris x Momotaro, a Divers Sixty-Five special edition watch that Oris made in collaboration…

By Jas Ryat

April 24 2020

LEGO Group builds protective visors…

In Denmark, LEGO Group is producing protective visors for healthcare workers. The company has converted a number of moulding…

By Jas Ryat

Copyright 2020 DutyFree Magazine. All rights reserved. Privacy Policy Sitemap