McKinsey & Company analyzed data from 15 European countries to better understand emerging travel industry technology and customer needs in the travel and logistics sectors. What can companies in this space do to respond to shifts and sharpen their digitization strategies?
No industry is immune to the changes brought about by digitization, although some are responding to the pressure more quickly than others. On the face of it, travel and logistics exemplify the extremes. There is hardly a consumer in Europe who does not take to the internet when thinking about booking accommodation or flights or looking at train timetables for an upcoming trip. Yet few businesses search online for information about air and ocean cargo. The balance of industry-related searches brings home the point: in 2017, for every 80 travel-related queries, there was one logistics-related query, according to our research.
These statistics, however, shouldn’t suggest that travel is completely digitally mature or that logistics is totally in the stone age. The same research reveals significant variation at the subsector level when it comes to customers’ online behavior and companies’ response within the two industries.
And these are just some of the findings from work undertaken by McKinsey in collaboration with Google and the Kühne Logistics University in Germany, based on data from 15 European markets,1 as well as extensive interviews with experts on technology, travel, and logistics. This article presents highlights from the full report describing our research, Travel and logistics: data drives the race for customers.
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