Forget the past; it’s the future that counts – TravelMole guest comment by Cheapflights CEO David Soskin

Each generation is more technologically savvy than the last. Once we had televisions, newspapers and radio to inform us of news, and trends, and to allow us to compare products and prices.

Now, the volume of choice available to consumers is both exhilarating and frightening – and the travel industry must use new developments in order to maximise revenue and reach key markets.

Web users are taking advantage of innovation and are putting travel under the spotlight. Travel already tops all other leading e-commerce sectors as the industry that attracts the most comparison shopping, with more than a quarter of visits coming from agency sites.

Traditional advertising streams are no longer the way forward if travel agencies and tour operators want to embrace future success.

In a recent report from Amadeus, 51% of last minute holidaymakers stated that they are turning away from bricks and mortar operations and paper brochures in favour of the ease and convenience of online searching – publishers like Rupert Murdoch are running scared.

In April 2005, Mr. Murdoch admitted that he: “Did not do as much as (he) should after the excitement of the late 90s, hoping that the digital revolution would just limp along.”

What prompted his remark was the realisation that unless he moves quickly, his advertising revenues will dissipate as a new generation comes of age. Already the effect is being felt in the print media with major publications such as Dow Jones, publisher of the Wall Street Journal, reporting a 10.7% decrease in advertising revenue.

Statistics like this can no longer be ignored – but how can a retailer market efficiently when pay per click travel key words are sometimes as high as 80p on Google? Figures like this are scaring smaller retailers off, regardless of whether they offer fares that are lower than those of the bigger players – and therefore more attractive to smart shoppers.

Price comparison websites such as Cheapflights offer an answer that is increasingly attracting both consumers and retailers. They provide a level playing field for all retailers to offer their fares and packages, including those with no website.

Consumers appreciate the fact that they are given a one-stop-service that allows them to access fares from hundreds of suppliers, saving them from wasting hours on an extensive search process through hundreds of websites. The success of price comparison websites is evident. Already, several figure into the top 100 list of online travel sites in terms of unique users – and there is no sign of the trend disappearing.

As internet technology develops, I am afraid that traditional media will find it harder and harder to compete.

Mr. Murdoch was a genius of the 20^th Century, but this is the 21^st Century. To see where the future is going, I challenge you to watch your children. Look at how proficient they are with computers. Examine their use of mobile phones and iPods. Are they getting their information from the printed word? The consumer of tomorrow is speaking to you today through their actions.

Now is the time to heed their call.