Price Drop Guarantee (“Price Freeze”): Reimburse customers if prices drop after they’ve booked.To better picture the innovations that Hopper Homes could bring to the vacation rental market, let’s have a look at the FinTech products it offers to travelers who currently book flights and hotels on the platform:

What could ’s Hopper Homes playbook be like? Its loyalty program, called Carrot Cash: Hopper’s credit system is suppoded to increase loyalty, drive repeat purchases, and most importantly, save customers money.Its Fintech products, such as Price Prediction and Cancel for Any Reason – in order to deliver a home booking experience that guarantees customers the best price with the most flexible cancellation policy.On the consumer side, the real innovative aspect of Hopper Homes will shine when the company adds to this first version the features that have powered its meteoric rise: Upcoming features that will change the vacation rental booking experience: Price Prediction, Cancela for Any Reason, and Carrot Cash A basic feature, filtering on price, is not available but should be added soon. Just the first version of Hopper Homes, as the real innovations will roll out later Basic, but looking good in an app-first approachįor the moment, the booking experience on Hopper Homes is classic: Users can filter by location, the number of bedrooms, amenities, or even whether the property is pet-friendly. Last, Hopper’s FinTech DNA makes it well places to innovate around cancellation and payment terms. Suprise fees, from cleaning fees to resort fees, are hated by consumers, as well as meta-search tools as it makes their displayed price inaccurate. These points obviously match how Hopper positions itself: As a company with a price-watching and meta-search DNA, it is good at fetching and presenting the best prices. cancellation and payment terms can be confusing and inflexible.customer are hit with hidden or surprise fees,.it’s hard to ensure customers getting the best price on an individual property,.Here are some pain points that Hopper Homes is supposed to solve: In a classic tech product marketing move, Hopper says its customer research has shown the need for a new vacation rental booking experience. The case presented for Hopper Homes obviosuly matches Hopper’s DNA Nonetheless, Hopper conveys that adding its flights, hotels, and cars offering was an obvious market opportunity. As hotels and cities reopen, the share could go down again. Now, we could argue that the jump in the share of short-term rental booking from 2020 to 2021 is also the result of the collapse in hotel bookings at the start of the COVID-19 pandemic. traveler population overall, with more than four in 10 rental travelers under the age of 35. Much like Hopper’s own users who are primarily Gen Z and millennial travelers, short-term home renters skew younger than the U.S.Short-term home rentals jumped from 17% of accommodation bookings to 27% in 2021 (Phocuswright Research, 2021).In the press release, the company says that: It is key for Hopper to emphasize these points, as it has built a Gen Z-focused customer base, notably on the back of massive ad investment on the TikTok app. Second, Hopper quotes data from Phocuswright to show a generational shift in the preference for vacation rentals over hotels. 44% of Hopper travelers book for more than two people which also demonstrates why home rentals are an appealing option.24% have no preference between the two,.About 40% of Hopper customers indicated they prefer homes over hotels,.First, Hopper wants to show that demand for Hopper Homes is already present on its platform.

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