Tuesday, October 20, 2020
Home Business Emergence of New Digital Platforms Drives Growth: MakeMyTrip

Emergence of New Digital Platforms Drives Growth: MakeMyTrip

Mobile-centric approach drives growth, says MakeMyTrip

A mobile-centric approach and the emergence of new digital platforms fuelling greater adoption of e-commerce has driven reach and growth of MakeMyTrip, the online travel company said in a presentation to investors.

With 28.1 per cent growth, the platform’s gross bookings reached $5.4 billion in the 2019 financial year compared to the previous year.

In the first half of fiscal year 2020, gross bookings reached $3.2 billion, a growth of 22.3 per cent year-over-year.

Its adjusted revenue grew 17.3 per cent year-over-year to reach $379.6 million during the first half of this fiscal.

The platform experienced 13.5 per cent growth in air ticketing segment, 13 per cent growth in standalone online hotel bookings and 37.4 per cent year-over-year growth in bus tickets sold.

MakeMyTrip
MakeMyTrip is an online travel company and offers its customers travel services. Wikimedia Commons

Increasing use of Artificial Intelligence, Machine Learning and Big Data is driving better user experience, MakeMyTrip claimed.

Low penetration of hotels booked online presents large opportunities of growth in India, according to the presentation.

While the current online hotel booking penetration rate is just 15 per cent in India, it is about 30 per cent in China, 41 per cent in European Union and 46 per cent in the US.

Also Read- Twitter CEO Jack Dorsey uses DuckDuckGo over Google

MakeMyTrip offers its customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, over 66,500 domestic accommodation properties in India and more than 500,000 properties outside India, Indian Railways and all major Indian bus operators. (IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,782FollowersFollow

Most Popular

Air Pollution Causes Food Delivery Leading to Plastic Waste

When the air quality outside is bad, office workers are more likely to order food than go out for lunch, which in turn increases...

Virus Can Reinfect COVID Patients When Antibodies Start Depleting

Patients who have recovered from COVID-19 can again get infected by the virus once the antibodies of the viral disease start depleting, the Indian...

International Chef Day a Low-Key Event Due to Pandemic

The International Chef Day is observed on October 20, but this year, the celebrations here were muted as chefs are facing a torrid time...

Coffee Before Breakfast May Increase Diabetes Risk

If you're taking coffee before breakfast, read this carefully. Researchers have found that drinking coffee first thing can have a negative effect on blood...

India’s Nutrition Experts on Supporting Public Health Delivery

Indias public health and nutrition efforts are differentiated by an enterprising early start going as far back as 1975 with the beginning of Anganwadi...

‘Fashion Reboot’- A Collection Focusing Gen Z

The final day of the digital edition of Lotus Make-up India Fashion Week, Spring/Summer 2021 on Sunday opened a film presentation that showcased a...

Disorder in Sleep Cycle Due to Excessive Use of Cellphones

Cell phones have become integral to function for nearly everyone. While it has brought a lot of tasks to our fingertips, cell phones also...

Higher Mortality Risk for COVID Patients with Kidney Diseases

Researchers, including one of Indian-origin, have found that there is a much higher risk of mortality faced by COVID-19 patients in intensive care, who...

Recent Comments