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How consumer behavior changes in travel retail - fireside chat (1/5) with Peter Mohn & Kian Gould

October 28, 2017
About the author Christian HolzschuhChristian Holzschuh
Online Marketing

Travel retail has changed significantly in the past years and is undergoing serious disruption. For example, 70% impulse buying five years ago has turned into 79% planned buying in recent years. Duty-free shopping is not considered cheap any more, but is regarded as a convenience.

Digitalization has a big impact on how travellers buy products on their journey, which also affects airports and airlines. Peter Mohn, owner and CEO of m1ndset, and Kian Gould, founder and CEO of AOE, talk about changes in consumer behavior and how travel retail must react to survive digital transformation in the aviation industry. They also describe how the industry can profit from opportunities that digitalization brings.

Kian Gould

Kian Gould

Founder and CEO / AOE
Online Shopping is very much about convenience. To create customer engagement, retailers need to create a compelling omnichannel customer experience that is convenient and really benefits people."

Aviation

How airlines can regain trust, loyalty and revenue by taking control of the digital customer journey.

December’s World Aviation Festival in London was a great opportunity to bring the industry together and, although attendance was inevitably lower than normal, there was a strong conference program that carried a mood of guarded optimism. Best of all, I was delighted to see just how strongly the focus was on real action to drive ancillary revenue and recovery.  Much of 2021 has been spent waiting for a recovery to be established and many airlines have understandably been hesitant (or unable) to commit to new investment or major change in their customer operations. The long hoped-for recovery has been impossible to forecast accurately and many airlines opted to simply ‘hunker down’ and wait until a clearer path can be seen through the storm. That strategy carries deep risks. We now face a new phase of crisis as Omicron sadly develops its global presence but the fact is that the world will continue to turn, people will continue to travel, the crisis will eventually recede, and traffic will return. Airlines need to be preparing right now to create the customer experience that the recovery will demand.  Yes, the picture of how the 2022 travel market will look in recovery is still blurred right now - but the key point is that we do already know exactly what the returning customer looks like and what they want. We have a clear understanding of the experience they want - and we have the digital tools to deliver that experience.