5 minute read
As a cruise travel provider, cruise price tracking can work in your favor; being the cheapest will net you more sales, although they may be at a lower price.
For those in the business of offering cruise holidays to consumers, price is a crucial element of the sales process. Consumers will often search tirelessly to secure the best deal, and while cost isn’t the only factor, it’s certainly high up on the list. But like all products and services, prices fluctuate with supply and demand. Consumers may find that a cruise booked in September is half the price by January, and as many of us appreciate, it’s no fun if the person next to you by the pool has paid considerably less to be there! Potential vacationers have become wise to this, and consumer deal-making in the travel industry is going one step further… Cruise providers are being asked to lower their prices long after the booking has taken place, with purchasers utilizing price-matching strategies with the threat of moving their booking to another provider.
Book a DemoUnderstanding Cruise Price Fluctuations
Cruise providers alter the price of a cruise holiday depending on market influences. A typical cruise company will change its prices by using the following pricing process…
- When a cruise is first offered to the market, cabin prices are often set at a competitive rate to encourage early bookings.
- Over the coming weeks and months, tour operators will monitor and adapt pricing to secure the sale of their remaining cabins.
- Nearer to the sale date, prices often fall to capitalize on last-minute bookings.
Other factors also affect the selling price. Environmental or political influences may render a route unpopular, or competitor travel agents may have secured a reduced rate with the cruise line, allowing them to lower their prices. As a participant in the online travel industry, your business must price competitively to harness maximum bookings.
How To Monitor Cruise Fare Changes
Understanding why and when cruise fares change is crucial to securing the best price on a cruise holiday. But who has the time to continually check and re-check prices? To get the best deal possible, consumers are increasingly turning to specific tools and platforms to monitor price changes before and after they make their final purchase. Several tracking tools are available, all following a broadly similar process…
- A consumer will enter their cruise preferences, i.e. date, cruise ship, and cabin type.
- The tool will monitor this cruise by tracking the cruise website.
- Customers receive price alert notifications when the fare changes.
- Some tools redirect clients straight to the cruise website.
Even after booking, consumers continue to track prices; if they source the same trip at a lower price, customers will approach their tour operator to demand a price match. Thanks to the popularity of fare tracker tools, now more than ever, the cruise booking process is subject to negotiation and deal-making. Whether it’s price matching, cabin upgrades, or onboard credit, consumers are willing to go the extra mile to get more for their well-earned dollar.
Setting Up Price Alerts
Registering for price change notifications is crucial for consumers seeking the best deal. Tracker tools commonly offer two types of notification – a daily email containing hot deals on trips relevant to a customers’ previous searches, and a specific notification if their departure has changed in price. By registering with one or more price tracker websites, consumers are kept up to date with the best prices every day.
As a travel agent, keeping your prices in line with market trends is essential.
Positioning Your Travel Agency
With the popularity of cruise price tracking, as a cruise travel agency, you must ensure you are included in price tracking tools and platforms. Being outside the scope means you are invisible to consumers, which will seriously hamper your ability to compete effectively. Unfortunately, most cruise price tracking tools don’t include all travel providers; these platforms usually focus on major cruise lines and some of the larger, more reputable online travel agents. So, if you’re in the business of selling cruise travel, you’ll need some industry-leading travel technology behind you.
Traveltek proudly offers a suite of travel products to help your online travel agency compete with the major players in the industry. The technology is available within our range of customizable white-label travel solutions. You’ll have access to hundreds of travel suppliers, keeping you on par with your competitors. Our API integration allows for real-time cruise booking data, which is fully accessible to most price tracking tools.
Frequently Asked Questions
Can I check the history of cruise prices?
Yes, many trackers allow consumers to access the price history of cruise sailings over time. This is useful information to gauge the value of a particular deal.
How can I make sure my site is available to price tracker tools?
It’s worth investing in an online travel solution that is accessible to price-tracking tools. Your website should be properly structured and accessible using standardized formats. Some trackers can only be accessed via specific API’s or integrations. Traveltek offers a comprehensive range of industry-leading API’s and travel systems.
What is ‘wave season’?
‘Wave season’ is a period, typically January to March, during which travel operators and cruise lines offer significant discounts on their bookings to encourage sales. Promotions, deals, and discounts are usually made available to consumers, making it the cruise industry’s ‘Black Friday’.
Is it normal to reduce a cruise price after it has been booked?
Yes, price matching is common, and the price of many cruise bookings is reduced after booking, although it’s unlikely that this will happen once the final payment has been made.
Do holiday prices change daily?
Yes, prices change daily and sometimes even hourly. Booking websites use real-time information which is constantly fluctuating based on supply and demand.
