Drawing from its extensive UK customer base, the weekly report delivers valuable top line B2B settlement data
Travel Ledger announces launch of weekly market report
B2B invoicing and payment collection provider Travel Ledger has announced the launch of its Weekly UK Market Report.
This initiative marks a significant step forward in providing timely insights into market trends for B2B sales “settled” via Travel Ledger by its 2000 and more UK participants.
Since its inception in 2022, Travel Ledger has settled over £1.1 billion in transactions by the close of 2023, showcasing robust growth and “trust it has garnered within the industry”.
Key highlights of the Weekly Market Report will include regular updates will focus on weekly market trends and top line, totally anonymised UK B2B payment data.
Starting from last week, these insights will be published every Friday morning on the firm’s official blog and shared with its customers and followers via LinkedIn.
A dedicated page on its platform will be made available to display customers consolidated figures for the entire period, enhancing accessibility.
Its report has found so far that December, 2023 showed an 11% increase in transaction numbers and a notable 24% increase in average transaction value over December 2022.
Cumulatively, for the first two weeks, January, 2024 experienced a 13% rise in transactions, a significant 43% increase in total amounts collected and a 27% growth in average transaction value.
Week 1 of January, 2024 witnessed a 52% boost in transactions, a 96% surge in total amount collected and a 29% increase in average transaction value, compared to the same period in 2023.
In Week 2, there was an 11% decrease in transactions, but a 10% increase in total amount collected and a 24% rise in average transaction value.
These figures demonstrate a strong market, where the average spending per transaction is growing more substantially than the number of transactions.
This indicates that despite rising prices, there is an increased willingness among consumers to spend more on travel experiences, highlighting the industry's resilience and potential for growth.
Roberto Da Re, CEO of Travel Ledger, said: "With over two years of operation and a substantial participant base, Travel Ledger is in a prime position to offer the UK Leisure market a definitive benchmark on market trends.
“Our focus is not just on bookings, but on the actual funds moved for settled transactions.
“We believe this approach will equip UK travel companies with the insights they need to make informed decisions and maintain a competitive edge in this ever-evolving market."