During coronacrisis, Busworld made a series of great webinars for bus transportation professionals about the impact of the crisis, ways to overcome it, and become more resilient. (Also great thanks to CheckMyBus and Mark Hoffmann for digital transformation webinars).
I've done a recap of key insights for those who don't have time to watch full conversations (although I highly recommend doing it).
- Intercity buses have a chance to increase passenger traffic after the pandemic: air travel will cease to be cheap, many low-cost airlines will leave the market, and the rest will raise prices;
- People will not want to be in a crowd in an enclosed space for a long time, for example, at airports – buses are more advantageous in this aspect;
- Due to the closure of borders, people will travel more within their countries, and domestic intercity passenger traffic will increase;
- Passengers will look less at the ticket price, and more at the quality of services and safety on board;
- Bus operators need to implement dynamic pricing to earn more for those who are willing to pay more (and the number of such passengers will increase);
- Digital transformation of the market will accelerate. Firstly, tickets will finally be bought mostly on the web, and secondly, it will become more expensive to maintain inefficient operations, so carriers need analytics and data for effective planning of the route network;
- Decisions need to rely on data - for example, the British operator National Express, planning a route network from London Gatwick Airport, ordered data on the movement of people who arrived at the airport from a mobile operator. This made it possible to immediately identify potentially interesting destinations and discard unpromising;
- The coronavirus crisis will be followed by a large-scale recession in the economy, and there is not far from the impact of global climate change – this is the last call for the bus operators to perform digital transformation and become efficient and resilient for the changes.