TripAdvisor (TRIP) will attract brands with the launch of Wanderlab
TripAdvisor TRIP has introduced an in-house creative and content studio named Wanderlab.
Wanderlab is being developed using TripAdvisor’s existing media offering and will use TripAdvisor’s first-party data, company resources, sponsored brand and editorial content, et al.
Off the back of Wanderlab, TRIP aims to provide travel and non-travel brands with more advertising options so brands can attract more audiences both on and off TRIP’s platform.
The launch of Wanderlab is expected to help TripAdvisor gain momentum among brands, which in turn will help drive revenue growth.
When it launched, Wanderlab released a mini-documentary with a title, Lost & Found, showing travel through the eyes of Gen Z. The documentary is likely to help TRIP gain traction with young travelers.
The aforementioned efforts will help TripAdvisor earn investor confidence in the short and long term.
TRIP shares are down 24% year-to-date versus Zacks wholesale retail 23.7% drop in the sector.
TripAdvisor, Inc. Awards and Consensus
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Growing initiatives to boost prospects
In addition to the aforementioned efforts, TripAdvisor has signed a partnership agreement with the San Diego Tourism Authority for $1.5 million to launch personalized digital content and interactive campaigns to attract travelers to the city.
In March 2022, TRIP collaborated with Walgreens to promote the latter’s COVID-19 testing solutions so travelers can enjoy safer trips during spring break and school vacations.
In February, TripAdvisor subsidiary Cruise Critic collaborated with ReservationKAYAK, subsidiary of BKNG. Through this partnership, travelers to the United States looking for a cruise on KAYAK can access Cruise Critic’s extensive network of cruise itineraries and reviews.
With these growing initiatives, TripAdvisor is expected to continue expanding its presence in the booming travel market.
The growth of the highlighted market is attributed to the increase in international tourism, growing social media penetration, and technological advancements.
By a ResearchAndMarkets reportThe global travel market is expected to reach $451.2 billion by 2026 growing at a CAGR of 13.9% during the forecast period 2022-2026.
Competitive travel market
Given the strong outlook for the travel industry, TripAdvisor’s competitors, including Booking Holdings, Expedia EXPE and Airbnb ABNB is also well positioned to capitalize on improved travel potential.
Booking Holdings is enjoying improved booking trends due to increased travel demand. An increase in the number of regular customers creates a growth in its active customers, which remains a tailwind. Last month, BKNG’s Agoda brand partnered with Ant Group to integrate Alipay+ rewards and discount services into its platform to increase transaction conversion rate. This should help BKNG gain momentum with travellers.
Expedia is gaining traction with customers with its robust wallet offerings. Additionally, its website offers travelers choices of destinations and flight plans, details of places to visit, maps, local restaurants, things to do, cruises, special offers and consumer reviews. , so they can book according to their preferences.
Airbnb’s growing technological efforts to attract more hosts and guests to its platform remain noteworthy. That aside, ABNB recently partnered with Visit Bloomington to promote safe travel with a focus on local attractions, staycations and unique experiences to drive travel demand in Bloomington. The partnership also aims to support local businesses, restaurants and city workers who depend on the local tourism industry.
Nonetheless, TripAdvisor’s growing product launches and strategic partnerships are expected to bolster its competitive prowess against the aforementioned peers. Currently, TRIP carries a Zacks Rank #3 (Hold).
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