online travel this week
of India makemytrip is looking to partner its special flights with heroine To help online travel agency in India expand to smaller cities in the country.
Amazon.in’s flights section, powered by new partner MakeMyTrip, went live in the online travel agency’s fourth quarter, which ended March 31. In April, MakeMyTrip also entered into a partnership with it. phonepe, A digital payments and fintech company that could help expand buy now and pay later offerings.
With Amazon Deals, users can tap into their Amazon Pay accounts to book domestic flights to India from airlines such as SpiceJet And go first, They get “instant discounts” on flight bookings, which MakeMyTrip reiterates its user experience as the partnership comes with deeper integration between Amazon and MakeMyTrip.
“So from a consumer standpoint, when they switch to Amazon Pay, they are basically getting the benefit of the MakeMyTrip brand, largely the same UI (user interface), same product experience as it is from a pricing standpoint. MakeMyTrip co-founder and group CEO Rajesh Mago said during the company’s fourth quarter and fiscal year 2022 earnings call on Wednesday. “This is effectively from a consumer perspective, the transaction is taking place on MakeMyTrip. “
He added that one of the early trends of both the partnerships is MakeMyTrip experiencing new users “more and more coming from Tier 3 and Tier 4 cities, which is very encouraging, which was exactly what our aim was also.”
Both partnerships have a related angle to MakeMyTrip’s India rival cleartripWhich e-commerce retailer Flipkart Acquired in 2021. Until then, an independent Cleartrip was an Amazon Pay partner for domestic flights to India. However, Amazon did not see it in its best interest to continue the partnership with Cleartrip when it became owned by an online retail rival, Flipkart.
But such family ties didn’t stop MakeMyTrip from entering into a fintech partnership with PhoneFe, which also owns Flipkart. Mago said that PhoneFe’s relationship with Flipkart was not a major concern as Flipkart and PhoneFe run their business independently, and their business models are different.
In terms of financial results, MakeMyTrip paints red for both the fourth quarter (a $4.1 million loss versus the $3.2 million loss in the fourth quarter of 2021) and the full-fledged fiscal-year 2022 (a $45.6 million loss compared to the one) was in Widespread loss of $56 million in 2021).
During the quarter ended March 31, MakeMyTrip saw a return to leisure demand, although inflation boosted airfares, and this was a headwind in terms of consumer sentiment. India opened its skies to commercial aviation internationally on March 27.
The partnership of Amazon and PhoneFe can help MakeMyTrip to compete with the big names.
According to Mago, “Bookings.com and Expedia or any international OTAs (online travel agencies)” are active in the domestic market. Any increase in MakeMyTrip’s participation in Tier 3 and Tier 4 cities will be beneficial as it is an important part of MakeMyTrip’s growth strategy, as well as improving customer experience and onboarding new supplies.
The Amazon partnership won’t be a panacea for MakeMyTrip, but it could help it find new customers.
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