This article is a sort of sum-up as well as an overview of our blog. We analysis overall market, consumer insight, brand personality and emotion, competition and brand sustainability of Thomas Cook with the comparison of other local travel agencies in different countries respectively. CHINA🇨🇳, FRANCE🇫🇷, INDIA🇮🇳, AUSTRALIA🇦🇺, BRAZIL🇧🇷
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Let’s first have a glance at the overall market in different countries.
Due to the high development of the internet in China, online travel agencies are extremely booming.Traditional agencies are facing extremely fierce competitions.
The same situation could be also found in India. Digitalization is changing the game rules and market penetration happens only through the perfect pricing with good quality of the services.
In France, where is the dream destination for the globe, local travel agencies have less competition. However, independent tour is the trend and travelers are always looking for something personalized.
Brazil is a diverse country with a varied collection of wonders. Local travel agencies in Brazil know the country much better than international giants such as Thomas Cook. They offer abundant choices to meet traveler’s expectations of diversity.
Adventurous tourists can also be found in Australia. There is a handful of local travel agencies target in backpackers and risk-takers. Old school and conservatism brand image are NOT welcome by this market.
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In Australia and Brazil, Thomas Cook put lots of emphasis on environment, however, the travel agency struggled to develop an effective sustainability strategy from the long term. As a result, when the external situation changed, the brand collapsed.
In the French market, facing the fierce competition of online travel platforms and local travel agencies, Thomas Cook failed to come up with a solution at the very beginning which directly led their failure soon after the bankruptcy of its UK HQ. Quality is the core for a brand, however, in India, Thomas cook never compromised on the quality as its costing is always way higher than other players in the market.
Thomas Cook China has always been independent of its HQ in the UK and places particular emphasis on a high-end segment with tailor-made services. They built a positive and responsible brand image and manage to find its way of sustainability and surviving.
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In Most of the countries, the marketing factor of Thomas Cook lags a lot starting from the website to connect to people emotionally where as in all such countries the local players playing heavily on marketing themselves and addressing the actual needs of consumers in a multicultural environment.
The organizational structure and hierarchy was in chaos from few years back where the familial ownership ended and the take over of the company by other big travel agency groups. The complexity in the bookings and after sales service in most of the countries are way par below in turn the company unable to connect emotionally with the consumers as well.
As per European culture, most of the people use to plan their own trips while some people in Asian area, part of people prefer a planned trip keeping the cost effectiveness in the mind.
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Technology plays an important role in all the countries as it makes things more comfortable and quick. Thomas Cook adaptability towards the technological development is average and there were no more growth hacks implemented to face the competitive world.
In all those countries where we analyzed the majority of the population is related to middle and upper middle class and specifically in Asia the attractiveness towards local tourism is pretty high as compared to international tourism.
The purchase behavior changes country to country and Thomas Cook sticks to one portion of the market and that is niche market and adaptability towards addressing the other segments lag a lot.
In every country we studied, the tourism market is growing at a fast pace and, therefore, Thomas Cook’s competitors keep investing in assets to get the most market share possible.
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Innovating is really important to stay in the competition, companies create partnerships with hotels or cruise company to create pack offer (like Thomas Cook) or with IT company to provide better service (MakeMyTrip in India). Others business invests more in brand awareness like Zanadu (in China) by creating high-end lifestyle magazine. Thomas Cook tried to sponsor sports events.
In every country, we can notice that the biggest competitors of Thomas Cook are generally online travel sites like Booking, Easy jet and TripAdvisor because they understand that the travel business has moved online. Others competitors tried to take over by giving more flexibility like Gapnet (in Brazil).
The adaptability and constant innovation of the travel company have led them to take more and more market share, making Thomas Cook lose their influence and it eventually leads them to their downfall.
Wish to learn more? Check out our different categories and get inspired! CHINA🇨🇳, FRANCE🇫🇷, INDIA🇮🇳, AUSTRALIA🇦🇺, BRAZIL🇧🇷
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