An analysis of consumer spending patterns in Britain has predicted that August will be the busiest month of the year for online travel agents.
Payment processing firm Worldpay anticipates bargain-hunting Brits will be looking to snap up last minute summer deals leading to August bookings being 10% up on the monthly average.
Worldpay’s research suggests that web sales peak during the first week of the month, when the number of bookings is 23% higher than the last week of July.
It also claims the average holiday is 6% cheaper in August compared to the previous three months.
Thomas Helldorff, vice president, airlines and travel, at Worldpay said: “As the summer holiday season sets in, thousands of British holidaymakers will be looking to bag themselves a bargain before school starts again in September. With the pound tumbling in value yet again, holidays abroad are becoming more expensive for UK travellers, so it can often pay to wait until the first week of August to book hotels or accommodation, when the prices are considerably lower.”
Worldpay’s analysis also found that bookings through OTAs are increasing by 5% year-on-year, with more than three-quarters of UK travellers now booking their vacations online.
Helldorff added: “OTAs are quickly becoming the most popular way to book holidays. And with new legislation set to enhance existing ATOL protections for all online bookings by 2018, we are expecting this number to grow even further.
“Savvy travellers love to shop around, research the best deals and book from a travel website that is convenient and easy to use. Offering a slick payment process helps OTAs to create a seamless travel experience to meet the demands of the modern consumer.”