The findings are based on a comprehensive travel market study conducted by VIDEC across FY 22-23.
Cleartrip, a Flipkart company, has cemented its position as the second-largest OTA player in the country. A recent in-depth OTA benchmarking research study by VIDEC revealed that Cleartrip saw industry-leading growth in FY23 and strengthened its position in the segment.
While the company has seen significant growth in the air category, it has made strategic investments in Hotels, Buses, and B2B businesses, revamping its existing offerings and launching new tools and products. At the beginning of the year, Cleartrip also launched its own marquee event, the Nation on Vacation event, bringing forward the booking period for the traditional summer holiday season by partnering with over 40 airlines and 80,000 domestic and more than 4 lakh international hotels in offering lucrative prices and value-added services. Cleartrip’s B2B topline grew over two times on the back of the launch of new tools providing a seamless booking experience for our partners.
Regarding the latest development, Ayyappan R, CEO, Cleartrip stated, “This move is a milestone in Cleartrip’s journey and is a testament to our commitment to customer-centricity and sustainable growth. Travel is a massive industry that has witnessed rapid growth and is expected to scale further heights. We believe that we are in the right position to innovate and bring about disruption through technology. This is a new chapter for Cleartrip and by no means the end destination. We will continue to curate value-led constructs, expand our product categories, innovate on behalf of our customers, and make travel an affordable and accessible aspiration for all.”
Shedding light on the key research findings, Virendra Jain, Co-Founder and CEO at VIDEC said, “Led by the OTAs, the India travel market has made a resounding recovery to ₹3,892 billion (US$48.7B) in FY23 and is estimated to reach ₹5,787 billion (US$72.4B) in FY26. Air would continue to be the largest travel category at ₹1,743 billion (US$21.8B) in FY23, the growth henceforth would equally come from the rise in Indian international demand and non-air categories. The ground category will fuel the often talked about the ‘next billion Indian opportunity’.”
Since the Flipkart acquisition, Cleartrip has continued to invest in customer-centric offerings under ‘Clear Advantage’ that provide unmatched flexibility and affordability. It enabled customers to earn and redeem supercoins and improved the customer experience on multiple fronts such as a 24-hour refund policy that resulted in an industry-leading NPS score. The company recently launched buses in its service portfolio, revamped its hotel UI, and unveiled its marquee summer sale event – NationOnVacation. Cleartrip saw a 60% rise in bookings (which is 2x times over what was achieved during the same period last year) across categories.
Read original story on BW Hotelier.