Travel Ledger Announces the Launch of "Weekly UK Market Report"
Travel Ledger is excited to announce the launch of its "Travel Ledger – Weekly UK Market Report."
This initiative marks a significant step forward in providing timely, detailed insights into market trends for B2B sales settled via Travel Ledger by its UK participants.
Since its inception in 2022, Travel Ledger has remarkably settled over £1.1 Billion in transactions by the close of 2023, showcasing the robust growth and trust it has garnered within the industry.
With over 24 months of data, Travel Ledger is now in a position to start providing the UK sector with some benchmark performance data.
Key Highlights of the Weekly Market Report:
- Regular updates will focus on weekly market trends and top line, totally anonymized, UK payment data.
- Starting from January 2024, these insights will be published every Friday morning on our official blog and shared with our followers on LinkedIn.
- A dedicated page on our website will be created and made available to our customers to display consolidated figures for the entire period, enhancing accessibility and transparency.
These weekly reports aim to provide an overall market benchmark to travel companies, aiding them in making informed business decisions and staying ahead in a dynamic market.
December 2023 and January 2024 Market Trends
- December 2023 showed an 11% increase in transaction numbers and a notable 24% increase in average transaction value over December 2022.
- Cumulatively, January 2024 experienced so far a 13% rise in transactions, a significant 43% increase in total amounts collected, and an impressive 27% growth in average transaction value.
- Week 1 of January 2024 witnessed a 52% boost in transactions, a 96% surge in total amount collected, and a 29% increase in average transaction value, compared to the same period in 2023.
- In Week 2, there was an 11% decrease in transactions, but a 10% increase in total amounts collected and a 24% rise in average transaction value.
These figures demonstrate a strong market, where the average spending per transaction is growing more substantially than the number of transactions. This indicates that despite rising prices, there is an increased willingness among consumers to spend more on travel experiences, highlighting the industry's resilience and potential for growth.