India's fastest-growing travel fintech, SanKash, today announced that it had seen a massive surge in booking this year. Post-COVID it has been observed that people are more inclined to gift memories over materialistic gifts.
SanKash saw a 5 times surge in bookings in 2023. States such as Agra, Srinagar, Munnar, Ooty, Udaipur, and Alleppey witnessed the maximum number of bookings. The majority of bookings came from the age group of 20-50, with gen-z and millennials equally contributing to celebrating the day with more thoughtful ideas.
It is estimated that revenue in the Travel & Tourism market is projected to reach USD18.91bn in 2023. Moreover, the revenue is expected to show an annual growth rate (CAGR 2023-2027) of 13.47 per cent, resulting in a projected market volume of USD 31.35bn by 2027. Moreover, it is further expected that the industry will see a surge of 8 per cent from the past year as people are preferring to travel than going the monotonous way of gifting stuffed animals, heart shape boxes, extravagant bouquets and anything that is easily predictable.
Commenting on the same, Akash Dahiya, Co-founder, SanKash said, "We are happy to know that people are expanding their gifting horizons by choosing memories over materialistic gifting items. The surge in number of bookings we are witnessing is a testimony to that. We aim to position SanKash as the partner in everyone's life for all their needs. SanKash allows users to spread the cost and offers No Cost options to make travel more accessible and affordable."
With the travel first approach, SanKash is a team of travel enthusiasts and Finance technocrats offering a plug-n-play API platform that allows merchants to embed a single "pay later" button at the checkout by aggregating multiple consumer financing providers.
Given the dynamic pricing & fast-moving inventory as characteristics of travel, SanKash solves the complexity by focusing on designing products and solutions which help travel payments work for everyone: the travel merchants, lenders, and travellers. Through SanKash, travel merchants enable travellers to spread the cost of their travel into digestible payments spread over a period of 3 to 12 months.
Over the last few years, the Indian market has witnessed multiple BNPL providers which made it easier for customers but difficult for merchants to select which BNPL provider to go with. Sankash's proprietary AI and ML-powered logical engine solve this problem by aggregating all BNPL providers to offer seamless Travel Now Pay Later option to travel merchant's customers while keeping all cross-selling opportunities unique to the travel merchant.
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( With inputs from ANI )
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