The rate at which visitors to travel websites decide not to complete their bookings is extraordinarily high at almost 75% - and worse than the wider retail industry at 71%.
SaleCycle, a remarketing specialist, estimates the travel booking abandonment to be as high as 81% for the year 2014. Recently, the company released tips on adopting email remarketing technique to gain lost booking revenue.
In a new infographic by SaleCycle, it explains the (forecasted) booking abandonment rates for each segment in travel, conversion rates via email remarketing, and revenue generated per email sent. The company analyzed about 100 global travel brands (including Millennium Hotels, P&O Ferries and Hertz) to compile the information.
Booking abandonment is estimated to be the highest among online travel agents at 89.1%, and least among accommodation services at 67.6%.
Car rental segment leads in both "email open rate" and "email click through rate" at 57% and 28.3% respectively. Airlines experience the lowest email open rates while Cruises have the lowest email click through rates.
When it comes to email conversion, car rental market tops the list with 36.2%.
Interestingly, revenue per email sent is as high as $188.93 for OTAs. For example, when 100 emails are sent to customers of an OTA, on an average, every email fetches about $188.93 in revenue. This number is more than three times than the closest segment of car rentals at $54.70 per email sent.
Below is the detailed infographic (click on it to view in high-resolution):
NB:Online booking image via Shutterstock.