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This Entrepreneur's Travel Company Actually Grew During The Pandemic – Here's What That Says About Buyer Psychology

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21.07.2021

In early 2020, our company Next Vacay was experiencing great success. Global tourism was continuing to rise; according to The Guardian, the World Tourism Organization recorded 1.4 billion international arrivals in 2018, a record at the time. Business was booming, and millions of people were traveling to parts of the world they only imagined visiting in their wildest dreams.

Then a little something called Covid-19 rolled in, and like many businesses in the hospitality sector, we found ourselves flipped completely upside down. New customer acquisition immediately plummeted by 90%. Our core value proposition — traveling to new destinations around the world on a budget — was suddenly and enormously hindered.

Navigating the pandemic as the CEO of a travel company forced me to be relentless with both innovation and optimization. Not only did we survive, but we actually grew, and May of 2021 was our second-highest month in company history.

The adjustments we made can apply to business leaders and entrepreneurs alike in many different sectors of business. Here are three things we learned about buyer psychology along the way as we navigated the dip.

Related: Why Travel Should Be a Top Priority for Every Entrepreneur

In a nutshell, my company helps people find both domestic and international flight deals for a $25/year subscription. Obviously, people weren’t itching to fly in 2020. Although our acquisition did drop........

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