Excerpt from McKinsey & Company
McKinsey & Company analyzed data from 15 Europe to raised understand emerging travel industry technology and customer needs in the travel and logistics sectors. So what can companies in this space do to react to shifts and sharpen their digitization strategies?
No industry is immune to the changes as a result of digitization, even though some are giving an answer to the pressure a lot more than others quickly. On the true face of it, logistics and travel exemplify the extremes. There’s hardly a consumer in Europe would you not try the web when considering booking accommodation or flights or considering train timetables for the next trip. Yet few businesses do some searching online for information regarding ocean and air cargo. The total amount of industry-related searches brings home the idea: in 2017, for each 80 travel-related queries, there is one logistics-related query, in accordance with our research.
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These statistics, however, shouldn’t claim that travel is totally mature or that logistics is very in the stone age digitally. Exactly the same research reveals significant variation at the subsector level in terms of customers’ online companies&rsquo and behavior; response within both industries.
And they are are just some of the findings from work undertaken by McKinsey in collaboration with Google and the Kühne Logistics University in Germany, predicated on data from 15 European markets,1 along with extensive interviews with experts on technology, travel, and logistics. This short article presents highlights from the entire report describing our research, Travel and logistics: data drives the race for customers.