Gmarket’s analysis of airline ticket sales in 2023 in the Korean market reveals that Vietnam is the most frequently booked premium-class destination, followed by Thailand and Japan.
According to Gmarket’s data, a major South Korean e-commerce platform, released on January 19, the demand for premium-class airfare, such as business-class tickets, significantly increased last year as international travel demand surged after the COVID-19 pandemic.
Specifically, the booking of business-class airline tickets increased by 254% in 2023, marking a 3.5-fold rise compared to 2022.
Despite long-term economic downturn, an increasing number of South Koreans are inclined towards the trend of enjoying “airplane convenience + vacation,” as they are willing to spend generously for comfortable seats on airplanes.
In contrast to the consumer trend of tightening belts due to rising living costs, this is seen as a polarizing trend in consumer behavior in the new phase.
Analyzing the quantity of airline ticket sales also indicates that the most frequently chosen premium-class travel destinations are typically those near Vietnam (standing highest at 18%), Thailand (16%), and Japan (12%). Following are the Philippines (7%), Indonesia (6%), and the United States (also 6%).
In the second half of 2023, business-class ticket bookings reached 68%, doubling the 32% recorded in the first half of the year. August and September are the two months with the highest number of business-class travelers, attributed to increased international travel demand in the summer.
By airline carriers, domestic giants like Asiana Airlines and Korean Air account for 51% of the total business-class tickets booked, possibly because these airlines offer a variety of large aircraft, allowing passengers to easily choose business-class seats and also reflecting the preference of South Koreans to use domestic airlines.
Responding to this demand, Korean airlines have also adopted marketing strategies to provide differentiated benefits, timely meeting customer preferences.
Meanwhile, Gmarket organizes a monthly promotion program for its members called “Premium Airport Lounge,” while also offering discount vouchers for those booking business-class and economy-class air tickets.
Specifically, customers purchasing air tickets worth 2.5 million won or more receive a discount voucher of 100,000 won, and those with tickets worth 1.2 million won or more receive a discount voucher of 50,000 won. Notably, Gmarket members account for up to 70% of the demand for business-class airline tickets in South Korea.
Oh Jeong-nam, Director of G Market’s Travel Business Group, stated, “With a focus on cost efficiency, the demand for premium flights is increasing even though travelers have to pay more for transportation costs.”
In the future, Gmarket plans to continue collaborating with major airlines in South Korea to provide more diverse flight routes and introduce premium airline tickets at special prices.
@Znews
Source: Vietnam Insider