June 11th, 2024, Samuel Tan
From Agoda to Traveloka, how effective are major online travel agencies in Singapore at converting awareness of their brand to an intention to book their next trip on their platform?
In today’s competitive travel market, brand conversion is essential for online travel agencies (OTAs) to maintain and grow their market share. Analysing data from YouGov BrandIndex – which continuously tracks key measures of brand health on thousands of companies around the world every day – we compare how successfully the most well-known online travel agencies in Singapore have been at guiding travellers and holidaymakers down the conversion funnel, as of the first four months of 2024.
Stage 1: Awareness – Which travel agencies are most well-known in Singapore?
Booking Holdings subsidiaries Agoda (73%) and Booking.com (72%) lead the pack in brand awareness – more than seven in ten Singaporeans have heard of them – although Klook (70%) follows closely after.
Around two-thirds of Singaporeans are aware of Trip.com (68%) and Expedia (65%), the next most well-known online travel agencies, while half are aware of Traveloka (50%).
Stage 2: Consideration – Which travel companies are best at guiding consumers from discovery to evaluation?
When it comes to converting awareness to consideration, Agoda (43%) comes out on top again, just ahead of Klook (41%) and Booking.com (40%) which are neck to neck: about three in five Singaporeans who are aware of each platform would consider making travel bookings there.
Meanwhile, a third of Singaporeans who know about Trip.com (33%), a quarter of Expedia (24%) and under a sixth of Traveloka (15%) would consider bookings with each platform the next time they travel.
Eva Stewart, YouGov's global travel sector head: “In 2024, the effectiveness of an OTA’s conversion funnel hinges not just on brand awareness but on creating a seamless, user-friendly experience that encourages consideration and ultimately purchase. Agoda’s top performance across all stages reflects its investment in these areas.”
How did consumer consideration of major online travel agencies in Singapore change week-by-week across the first quarter of 2024?Get full report
Stage 3: Purchase Intent – Which travel agencies are best at getting consumers ready to purchase?
When it comes to being the top choice for consumers who are ready to make a booking, Agoda extends its lead over its closest rivals. Among Singaporeans who consider the platform for travel bookings, close to half (48%) are likely to choose it for their next trip.
In comparison, around two in five Singaporeans who are considering Booking.com (41%), Klook (40%) and Trip.com (39%) say they are most likely to use these platforms the next time they make travel bookings online, ahead of just a quarter for Expedia (26%) and a seventh for Traveloka (14%).
Expert view from Eva: "The trends we’re seeing in Singapore’s OTA market highlight the importance of personalised marketing and loyalty programs. Brands, which lag in conversion rates, can benefit from focusing on these strategies to boost consumer engagement and intent to book."
How did purchase intent towards major online travel agencies in Singapore change week-by-week across the first quarter of 2024?Get full report
This article is part of our regional series on the Purchase Funnel performance of Online Travel Agencies across key markets in APAC. Read the companion pieces for other markets below:
Methodology: YouGov BrandIndex collects data on thousands of brands every day. Awareness scores measure whether consumers have ever heard of a brand. Consideration scores measure whether consumers would consider a brand the next time they are in the market for a particular product or service. Purchase Intent scores measure how likely consumers are to purchase from a specific brand, out of various brands they would consider buying from. Learn more about BrandIndex.
Cover Photo from tawatchaiprakobkit