Agoda, Traveloka, and Booking.com are the three most well-known online travel agencies (OTAs) in Thailand, based on data from YouGov BrandIndex. Agoda is particularly recognizable, with 56% of Thais being aware of the Booking Holdings subsidiary, followed by Traveloka and Booking.com at 47% and 46% respectively.
Brand conversion is a crucial element for OTAs in the competitive travel market, affecting their growth and market share. The effectiveness of such brand conversion refers to successfully guiding potential customers from initial brand awareness to an intention of booking a trip using the OTA’s platform.
As of the first four months of 2024, brand conversion rates for the major OTAs in Thailand, provided by YouGov BrandIndex, look as follows:
Stage 1 – Awareness: Thais show the highest awareness for Agoda (56%), followed by Traveloka (47%) and Booking.com (46%).
Stage 2 – Consideration: For those aware of the brand, 68% of Thais would consider using Agoda for their next trip. Booking.com and Traveloka fall behind once more, with consideration figures of 61% and 56% respectively.
Stage 3 – Purchased/Used Recently: Here Agoda maintains its lead, with a brand usage score of 28%. Following are Booking.com (21%) and Traveloka (19%).
Parmida Nassiri, the Commercial Director of SEA, YouGov, validates these statistical results. She states that their data shows a clear hierarchy between these brands and confirms that Agoda maintains the lead in all stages of the conversion funnel from awareness to action.
Summing up, the study shows that Agoda is the most successful OTA not only in creating brand awareness but also in converting it into consideration and recent use. Booking.com and Traveloka, although widely recognized in Thailand, lag behind in conversion effectiveness. Ultimately, the data reflects how paramount brand conversion is in maintaining and expanding market share in the online travel domain amidst fierce competition.
