Introduction
EaseMyTrip is an Indian online travel company, founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. Headquartered in New Delhi, the company provides hotel bookings, air tickets, holiday packages, bus bookings, and white-label services. EaseMyTrip has overseas offices in Singapore, Dubai, Maldives, and Bangkok. The business model of EaseMytrip involves Business plan, its competitors, revenue model, SWOT Analysis and many more.
The firm provides a wide range of transportation products and services to meet the demands of travelers traveling inside the country as well as to and from other countries. It offers consumers a wide range of resources and information to help them plan, research, book, and purchase travel services and goods both inside India and to other countries.
Revenue Model
Among other things, a great thing about Easemytrip is that it takes care of the customers and don’t give them the burden of convenience fee. They have increased their customer base with the USP of the zero convenience on flight tickets.
Every travel company gets commission from the respective airlines on flights. So, it is up to the travel portal if it charges any fees over this or not. But, company like easemytrip has the policy taking no extra charges and maintaining transparency in price.
EaseMyTrip is a profitable online travel company that made public market debut in the midst of the pandemic in March this year at 10 per cent premium to the initial public offering (IPO) price of Rs 206 per share.
Competitors
The top competitors in EaseMyTrip’s competitive set are:
- MakeMyTrip
- Ease My Visa
- Kosytrip
- DPauls
- WOW Air Fare
- Global Currency Travel & Tours
- OYO
- Trafalgar Tours
- Rennies BCD Travel
- Thomas Cook India
- Riya Travel and Tours
SWOT Analysis
Strengths
These strengths also help the company to exist in the current market and enter new markets as well.
• Good Returns on Expenditure: By building new streams of revenue, EASEMYTRIP.COM has successfully generated good returns on investment made by the company.
.• Reliable Suppliers: The Company has a strong base as its suppliers are very reliable thus enabling the company in overcoming all types of supply chain hurdles.
• Highly skilled labor: The company makes high investment on training and development of its employees resulting not only in the highly skilled staff but also having motivation to achieve more and more.
Weaknesses
Swot analysis helps the company in making strategies in the areas where the firm needs to improve in order to strengthen its position in the market.
• High rate of attrition in work force: The Company has to make a lot more investment on the training and development of its employees as compared to its competitors in the market because of its high attrition rate.
• The not so efficient financial planning of EASEMYTRIP.COM suggests that the company can use its cash more efficiently in the future activities.
.• Although the company is a leading brand in online travel industry of India but it has failed in achieving success outside its core business activities.
• The company needs to make more investment in new technology so as to integrate more processes.
• A lot more needs to be done in the marketing activities of the products of the company as the unique selling and positioning are not clearly defined by the company.
Opportunities
• Internet: there has been an increase in the number of internet users all over the world. This means that there is an opportunity for easemytrip.com Limited to expand their presence online; by using the internet to interact with its customers.
• E-commerce: There has been a new trend and a growth in sales of the ecommerce industry. This means that a lot of people are now making purchases online. Easemytrip.com Limited can earn revenue by opening online stores and making sales through these.
• Social Media: there has been an increase in the number of social media users worldwide. The three social media platforms; Facebook, Twitter and Instagram, have shown the greatest number of increase in monthly active users. Easemytrip.com Limited can use social media to promote its products, interact with customers and collect feedback from them.
• Technological developments: technology comes with numerous benefits among many departments. Operations can be automated to reduce costs. Technology enables better data to be collected on customers and improves on marketing efforts.
• Inflation: The inflation rate has been low and is expected to remain low in the next two years. This is an opportunity for easemytrip.com Limited as its cost of inputs would remain low for the next two years.
• Interest rate: Lower interest rates than compared to previous years provides an opportunity for easemytrip.com Limited to undergo expansion projects that are financed with loans at a cheaper interest rate.
• Green government drive: This provides an opportunity for easemytrip.com Limited for the sale of easemytrip.com Limited’s products to federal and state government contractors.
Threats
• Technological developments by competitors: New technological developments by a few competitors within the industry pose a threat to easemytrip.com Limited as customer attracted to this new technology can be lost to competitors, decreasing easemytrip.com Limited’s overall market share.
• Suppliers: The bargaining power of suppliers has increased over the years with the decrease in the number of suppliers. This means that the costs of inputs could increase for easemytrip.com Limited.
• New entrants: there have been numerous players that have entered the market and are gaining market share by gaining existing companies’ market share. This is a threat to easemytrip.com Limited as it can lose its customers to these new entrants.
• Exchange Rate: the exchange rate keeps fluctuating and this affects a company like easemytrip.com Limited that has sales internationally, while its suppliers are local.
• Political uncertainties in the country prove to be a barrier in business, hindering performance at times and making the business incur unnecessary costs.
• Regulations on international trade keep changing, and this requires compliance by companies if they are to operate globally.
Conclusion
