How bundling products with travel experiences can overcome economic challenges
The e-commerce industry is facing increasing competition and rising energy and inflation costs, making it crucial for brands to find innovative ways to stand out and retain customers. One solution is to bundle products with travel experiences, which has been shown to increase loyalty and revenue.
Studies show that consumers are willing to spend more on unique and personalized experiences, such as holidays and local activities. Your customers are looking for the best value and quality in travel and experiences and spends significantly. In Scandinavia, for example, the average person spends over €3,000 on travel and leisure experiences each year. In Germany, the travel and tourism industry generated a revenue of €84 billion in 2019, while in the UK, the average person spends £2,220 on holiday and leisure activities annually.
Here are several facts that reinforce the benefits of product and travel bundles:
Increased Customer Loyalty: When customers purchase a product and travel bundle, they are more likely to become repeat customers. This is because they have a personal connection to the brand through their unique travel experience. A study by Accenture found that customers who had an emotional connection to a brand were three times more likely to recommend the brand to others. 
Increased Revenue: By bundling products with travel experiences, e-commerce brands can increase their revenue by offering more comprehensive packages. According to a survey by PwC, customers are willing to pay more for bundled products and services. 
Differentiation from Competition: By offering unique travel experiences, e-commerce brands can differentiate themselves from their competitors. This sets them apart and creates a competitive advantage in the market. A survey by Hubspot found that only 8% of customers believe that all brands are unique, meaning that 92% believe there is room for differentiation. 
Strengthened Memberships: Product and travel bundles can also strengthen memberships and make them more relevant. For example, a sporting brand can offer a sports holiday and recommend their products that fit the customer's choice, powered by AI. This not only enhances the user experience, but also gives members access to exclusive experiences and products that are relevant to their interests.
Past economic crises have also had a significant impact on consumer spending habits. During these times, people tend to cut back on non-essential purchases and prioritize experiences that provide emotional fulfillment. By offering bundled travel experiences, e-commerce brands can tap into this emotional connection and provide value to their customers in a way that sets them apart from the competition.
One way to make this a reality is through the use of Your Brand Travel's white label software that offers a tailored travel portal for each brand. This personalization not only strengthens the brand's emotional connection with the customer, but also ensures that they are recommending the right products for each individual's needs. Here you can read more about our solution.
 Accenture, “The Emotional Connection: How Brands Build Strong Relationships with Customers” (2018)
 PwC, “Consumers and Retail 2020 and Beyond” (2019)
 Hubspot, “The State of Brand Differentiation” (2019)