The travel industry is today mourning the loss of Thomas Cook which has been a cornerstone to the UK market for many years and was the world’s oldest holiday company.
When we lose a household name, and one such as this on which so many have depended for their annual holiday, it serves to highlight the changing times we are living through.
One of the reasons being touted for the collapse of this high street brand is that the business failed to move with the changing times, where technology and consumer choice brought about by digital advances has led to a complete overhaul of the worldwide travel market.
The proliferation of high-speed WiFi and the widespread use of mobile devices across the world has put the consumer in control of their own travel destinies, and not keeping up with these fast-paced changes in tech driven by consumer demand has left many companies very quickly falling behind.
The Avvio business model is founded on this very principle, recognising that consumer behaviour is at the forefront of hotel, holiday and flight bookings. To stand out and be found online, firms need to adapt, innovate and invest in staying ahead of the digital curve and provide the same level of ‘personal service’ in online personas that is delivered face-to-face by well-trained staff. It’s not easy but is vital to long-term commercial survival.
Reportedly there are 22,000 jobs at risk worldwide and 150,000 UK holidaymakers currently stranded abroad as a result of Thomas Cook’s collapse, and our thoughts go out to those affected.
Frank Reeves, CEO and co-founder