TripAdvisor TRIP has introduced an in-house creative and content studio named Wanderlab.
Wanderlab is developed by using TripAdvisor’s existing media offering and will use the latter’s first-party data, company resources, sponsored brand and editorial content, et al.
On the back of Wanderlab, TRIP aims to provide both travel and non-travel brands with more advertising options so that brands can attract more audiences both on and off TRIP’s platform.
The launch of Wanderlab is expected to help TripAdvisor gain momentum among brands, which in turn, will contribute well to its top-line growth.
Upon its launch, Wanderlab released a mini-documentary with a title, Lost & Found, showing travel through the eyes of Generation Z. The documentary is likely to help TRIP gain traction among young travelers.
The above-mentioned efforts will help TripAdvisor gain investors’ confidence in the near term and the long haul.
Shares of TRIP have been down 24% in the year-to-date period compared with the Zacks Retail-Wholesale sector’s decline of 23.7%.
TripAdvisor, Inc. Price and Consensus
Growing Initiatives to Boost Prospects
In addition to the aforesaid efforts, TripAdvisor signed a partnership agreement with the San Diego Tourism Authority for $1.5 million to launch customized digital content and interactive campaigns for attracting travelers to the city.
In March 2022, TRIP collaborated with Walgreens to promote the latter’s COVID-19 testing solutions so that travelers can enjoy safer trips during spring break and school vacations.
In February, TripAdvisor’s subsidiary Cruise Critic collaborated with Booking Holding’s BKNG subsidiary KAYAK. With this partnership, travelers in the United States searching for a cruise on KAYAK can access Cruise Critic’s vast network of cruise itineraries and reviews.
With these growing initiatives, TripAdvisor is expected to continue expanding its presence in the booming travel market.
The underlined market’s growth is attributed to increasing international tourism, growing social media penetration and technological advancements.
Per a ResearchAndMarkets report, the global travel market is likely to reach $451.2 billion by 2026, witnessing a CAGR of 13.9% during the 2022-2026 forecast period.
Competitive Travel Market
Given the solid prospects in the travel industry, TripAdvisor’s competitors, including Booking Holdings, Expedia EXPE and Airbnb ABNB, are also positioning themselves well to capitalize on the improving travel potential.
Booking Holdings is benefiting from an improvement in its booking trends owing to increasing travel demand. A surge in repeat customers is creating growth in its active customers, which remains a tailwind. Last month, BKNG’s brand Agoda partnered with the Ant Group to integrate Alipay+ rewards and discount services into its platform to boost the transaction conversion rate. This is likely to help BKNG gain momentum among travelers.
Expedia is gaining traction from customers owing to its robust portfolio offerings. Moreover, its website provides travelers with destination and flight plan choices, details of the places to be visited, maps, local restaurants, things to do, cruises, special offers and consumer reviews, so that they can book according to their preferences.
Airbnb’s growing technological efforts to attract more hosts and guests to its platform remain noteworthy. This apart, ABNB recently joined forces with Visit Bloomington to promote safe travel with a focus on local attractions, unique stays and experiences to boost travel demand in Bloomington. The partnership is also focused on supporting local shops, restaurants and workers of the city who depend on the local tourism industry.
Nevertheless, TripAdvisor’s growing product launches and strategic partnerships are expected toboost its competitive prowess against the abovementioned peers. Currently, TRIP carries a Zacks Rank #3 (Hold).
This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation
Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Expedia Group, Inc. (EXPE): Free Stock Analysis Report
TripAdvisor, Inc. (TRIP): Free Stock Analysis Report
Booking Holdings Inc. (BKNG): Free Stock Analysis Report
Airbnb, Inc. (ABNB): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.