Mumbai: Want to learn? Travel. Want to unlearn? Travel. Happy? Travel. Sad? Travel. Travel is the answer to life’s most complicated questions – the answers which we hunt and receive in our journeys.
Founded in 2008, EaseMyTrip, one of India’s largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021 – makes these dreams and journeys come true.
Growing at a CAGR of 78 per cent during FY20-22 in profits, EaseMyTrip is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, it offers ‘end to end’ travel solutions including air tickets, hotels, and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip offers its users the option of zero convenience fees during bookings.
EaseMyTrip provides its users with access to more than 400 international and domestic airlines, over 2+ million hotels as well as train/bus tickets and taxi rentals for major cities in India. EaseMyTrip has offices across various Indian cities, including Noida, Delhi and Gurugram, Bengaluru, and Mumbai. Its international offices (as subsidiary companies) are in the Philippines, Singapore, Thailand, the UAE, the UK, the USA, New Zealand, and London.
Indiantelevision.com spoke to EaseMyTrip CEO and co-founder Nishant Pitti about the brand’s journey, its advertising and marketing strategy, the online and offline travel market and more.
Edited excerpts:
On the journey for Easemytrip since its launch
EaseMyTrip grew organically and gained prominence due to being profoundly consumer-centric. The origin story of EaseMyTrip lies in a travel agency called Duke Travels, which started a few years before the inception of EaseMyTrip in 2008. In fact, we used to book flight tickets for our father’s business trips to save on the high extra costs added by various travel agents. Relatives and family friends began using our services, which then led to the formation of a travel agency, and eventually, EaseMyTrip was born. Initially, the company operated out of a small office in Delhi with just a few employees. However, we were able to grow the business by offering competitive prices and a high level of customer service. Our central focus was on building partnerships with airlines and hotels to provide their customers with the best deals.
Over the years, we have continued to grow and expand our services. Today, we stand on a corporate pedestal where we are recognised as one of the leading online travel companies in India, with a strong presence in both domestic and international markets. Our company has also expanded into other areas of the travel industry, such as corporate travel and travel insurance, and has received several awards and recognitions for its services.
Today, it’s been 14 years since we’ve forayed as a brand within the fiercely competitive travel industry. We went on to dispel the pain points of at least 45,000 travel agents as a B2B venture for the first three years before pivoting to a customer-facing business, which now accounts for 84 per cent of the company’s revenue. Today, without soliciting external funds from venture capitalists or private equity investors, the company instead bootstrapped itself until its IPO.
On the online and offline travel market in India
The genesis behind the propulsion of India’s offline and online travel market can be attributed to the trend of revenge travel. Revenge travel has made more people visit the travel consultants and ask queries about the various packages and combinations they can avail for their dream destinations. Whereas many have meticulously planned their holidays and have seamlessly booked their travel, hotels, and cruises with the help of online travel agents. Overall the market is showing a northward slope and continues to ascend. By 2023, the travel and tourism industry is expected to rake in around 19 billion in revenue. By 2027, the market is forecast to be worth US$31 billion, with a compound yearly growth rate (CAGR) of 13.47 per cent from 2023 to 2027.
On being the second-largest online travel platform in terms of air ticket bookings
We have come a long way ever since our inception. We have been bootstrapped since day one and have scaled our business without any external support. We started as an offline market for travel agents in 2008. Ironically, we are the second-largest online travel platform when it comes to flight bookings. We are proud of the milestones we have achieved in our journey so far. But we intend to reach the zenith and our vision is to be the go-to platform for customers. As of now, we hold around 22 per cent of the online travel market share. We aim to grow all the more and capture a greater share of the market in the times ahead.
On entering into an ‘advertisement agreement’ with Capri Global Holdings for five years of the WPL
At EaseMyTrip, we always reflect an ingenuous and renegade energy in our business strategies. EaseMyTrip is becoming a pillar for advancement in a number of ways, including the fact that it is the only business in the industry to provide the advantage of not charging a convenience fee to any of our consumers and that it is now a commercial partner in an initiative that is breaking new ground for women’s cricket. Our constant support for the Women’s Premier League and the first season of the WPL is the driving force behind our relationship. We are thrilled to have secured a commercial partnership for the first iteration of a tournament that has the potential to become the most recognisable name in women’s cricket in the years to come. The WPL got a rapturous reception, with millions of followers riveted to their televisions to witness the jamboree of women’s cricket. As a new brand, WPL is a celebration of talent, and we are seeking to capitalise on the tremendous brand exposure potential that is available in this space.
On thinking that your association with the WPL would be successful, especially when most of the brands that had chosen to associate with the first season of the WPL, are women-centric brands
Enthusiasm for travel isn’t divided into categories based on gender or various other demographics. Our thought process has always been to back what is revolutionary and support women through our own little endeavours. That said, we gauged the potential that was packed in the package of the WPL as a product. It was the most powerful brand that was capable of propelling women’s cricket to the masses.. Our association was a highly successful one in the inaugural WPL as our brand story and USP was propagated through word of mouth and we were being seen as one of the strong commercial backers of the WPL and women’s sport in general since we’ve been associated with the 2023 edition of the IBA women’s world championship.
On the focus of your ad campaigns, advertising and marketing strategy this year, since last year your campaign starred Vijay Raaz and Varun Sharma and promoted the full-refund medical policy
When it comes to marketing, we focus on launching innovative campaigns. We emphasise high ROI marketing spending over high marketing budgets and try to identify relevant platforms that can garner the maximum attention and interest of our customers. Whether it is print ads, digital campaigns, or in-flight branding opportunities, we find the right opportunities and undertake a holistic approach for our brand-building and marketing efforts.
We are doing all it takes to connect better and deeper with our existing and potential customers. Every campaign that we conceptualise highlights a key message or announcement from the brand perspective. Our last campaign, starring Vijay Raaz and Varun Sharma was devised to promote the full-refund medical policy, which truly brings out key essence of our unique offerings
We understand that in today’s times, marketing is critical for brand building and effective communication with customers. We are planning to launch different campaigns this year as well to build on our current marketing objectives and keep our innovation game strong. One thing is for sure- the upcoming campaigns will be a fresh take on common ideas and help us strengthen our positioning as the go-to platform for making travel bookings and curating exceptional experiences.
On the media mix to be used, and considering an IPL association
At EaseMyTrip, we work with an innovative and maverick mindset. We support WPL and our association with them was one of the many firsts for us. Having said this, we are looking at more such opportunities. When it comes to IPL, we would definitely like to collaborate with a prestigious brand like them. But this is more of a long-term goal for us.
In today’s digitally-driven times, digital and social media occupy a prominent position in brand’s marketing efforts and storytelling approaches. When we devise any marketing strategy or campaign for our brand, our aim is to undertake a holistic approach. We try to source the relevant platforms that can help us gather the maximum attention and interest of our customers. We use all channels in our marketing mix, keeping into consideration the core messaging, the campaign theme, the target audience, their needs, preferences, ongoing marketing trends, etc.
On the launch of EaseMyTrip Franchise to give a retail store experience to its customers, and capture the offline market
The market for offline travel bookings is huge. After building a strong online presence, we wanted to capture the offline market as well and cater to the customers’ needs effectively. Launching our franchise was an initiative in this direction and we were confident it would help us tap the offline customer base. Through this business model, we intend to provide a ‘meet-and-greet’ experience to our customers.
On the kind of advertising and marketing trends and innovations are expected to disrupt the online and offline travel market this year
In the near future, several trends and innovations are anticipated to disrupt the online and offline travel markets. Personalisation, virtual and augmented reality, and influencer marketing are among the most prominent trends that will be altering how travel companies interact with their consumers. Sustainable tourism is gaining popularity, and travel companies are employing eco-friendly practices to attract environmentally conscientious tourists. Peer-to-peer travel platforms offer one-of-a-kind accommodations and experiences, while contactless and mobile technology are employed to improve the consumer experience. Voice search is also gaining importance as more individuals use smart speakers and voice assistants to research travel options. There will likely be many more disruptive technologies and methodologies in the future. As the travel market continues to evolve, businesses will need to remain current with the most recent trends in order to remain competitive and satisfy the requirements of contemporary travellers.
On your vision and way forward for EaseMyTrip
We are steadfast in our belief that our self-reliant mindset is always reflected at the forefront of our brand through our story. We will continue to cater to the trends and the requirements within the industry as our brand and the sector ride the wheel of progression and envisage offering only the best we can to our customers.
For now, we are betting on inorganic growth opportunities and will acquire more companies in the travel industry to expand our footprint and drive our growth. Currently, India has 141 airports and the government is planning to add 80 more airports in the next five years. The airport launches of Navi Mumbai Greenfield International Airport, Rajiv Gandhi International Airport expansion in Hyderabad, Mandi Greenfield International Airport, Jewar Greenfield International Airport, and many more, are expected to revolutionise the aviation industry. The increase in the number of airports would definitely bring more growth opportunities for us. It would give us a chance to scale our flight bookings business and we would be able to reach one step closer to our growth goals.
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