It’s no secret that competition in the market drives down consumer prices. But what if consumers can’t easily compare prices? Well according to a new study from Travel Tech, the reverse is true – prices go up.
The study found that if travelers can only get ticket prices and schedules from the airlines alone, it would cost consumers over $6 billion per year and 41 million travelers would be priced-out of flying. In essence, without the one-stop-shop for price comparison that Online Travel Agents (OTAs) like Expedia, Orbitz, and Kayak offer, we would pay more for our tickets. Read more