In a recent exclusive interaction at ATM Dubai 2024, Apratim Ghoshal, Founder Editor, Travel and Tour World, engaged with Rikant Pittie, the co-founder of EaseMyTrip.com. This conversation delved into the journey of EaseMyTrip, its market presence, technological innovations, and future expansion plans.
Rikant Pittie began by recounting the journey of EaseMyTrip, which started as one of the first unicorn technology companies in the B2B and B2C travel sectors. The company's path has been characterized by numerous ups and downs, driven by innovation and learning from mistakes. Recently, EaseMyTrip achieved a significant milestone by getting listed on the Indian stock market, which brought a new level of responsibility and a focus on delivering good returns for public investors.
Market Share and Expansion
Discussing the market share, Rikant highlighted that EaseMyTrip holds a substantial presence in the Indian online travel market. Although precise market share figures are speculative, the company has achieved significant growth in terms of aviation and hospitality sectors. EaseMyTrip ventured into the UAE market in 2019 and witnessed an impressive 89% increase in business over the past nine months compared to the previous year.
Looking ahead, EaseMyTrip is eyeing expansion into new markets, including Thailand and other Southeast Asian countries. The company is awaiting formal approvals to operate in these regions, aiming to bring its seamless online travel booking experience to more customers.
B2B and B2C Market Strategies
EaseMyTrip's foundation lies in its B2B and B2C travel services. Rikant shared anecdotes from the early days when he personally traveled to meet travel agents, establishing relationships and building trust. The company is now focusing on re-entering the B2C market with a strong emphasis on transparency and customer commitment. This approach ensures that travel agents and customers can rely on EaseMyTrip’s technology and services without hesitation.
Online Business and Collaboration
Rikant emphasized that not all online businesses aim to bypass intermediaries. Instead, EaseMyTrip believes in the power of collaboration. By working closely with travel agents and providing them with attractive commissions, the company ensures a win-win situation for both the intermediaries and the customers. This collaborative approach has been key to their success in the B2B market.
US Market Entry
EaseMyTrip is set to launch its operations in the US soon. While awaiting final approvals, the company has already established a presence in the US and anticipates starting operations within a few months. This expansion will primarily benefit the Indian diaspora in the US by offering competitive flight pricing and comprehensive travel services.
Innovative Products and Customer Protection
EaseMyTrip has introduced innovative products such as "Cancellation for Any Reason" (CFAR) in collaboration with insurance companies. This product allows customers to cancel their bookings without any hassle, providing a full refund. Additionally, the company offers free medical insurance, ensuring customers can cancel their trips due to health reasons without any financial loss.
Seamless Refund Process
Rikant highlighted the efficiency of the Indian banking system, which facilitates quick refunds through UPI and IMPS. EaseMyTrip’s robust technology ensures that refunds are processed promptly, usually within 24 hours, making it convenient for customers.
New Brand Launch: Explore
EaseMyTrip recently launched a new brand called "Explore," which focuses on providing immersive travel experiences. This brand curates personalized travel packages that highlight diverse cultures, heritage sites, and unique experiences across India. From agri-tourism to cooking classes, "Explore" aims to offer tailor-made travel solutions that cater to the specific interests of travelers.
Artificial Intelligence Integration
Rikant passionately discussed the integration of Artificial Intelligence (AI) in EaseMyTrip’s operations. AI plays a crucial role in personalizing customer experiences, recommending nearby attractions, and enhancing customer service through sentiment analysis. The company uses AI to ensure that customer interactions are personalized and efficient, maintaining high satisfaction levels.
Rikant Pittie’s insights during the interview shed light on the strategic decisions and innovative approaches that have driven EaseMyTrip’s success. The company's journey from a startup to a public entity, its focus on collaboration, market expansion plans, and technological advancements underline its commitment to revolutionizing the travel industry. As EaseMyTrip continues to grow and innovate, it remains dedicated to providing seamless and enriching travel experiences for its customers worldwide.
15 май 2024
