Friday, June 26, 2009
Kayak to Bing: Stop Copying Us! – Update
Kayak, the popular multi-airline airfare search engine, thinks Microsoft Bing’s new travel search engine looks so much like its own that it’s confusing Kayak users.
Kayak, the popular multi-airline airfare search engine, thinks Microsoft Bing’s new travel search engine looks so much like its own that it’s confusing Kayak users.
The rebound of the online advertising sector appears to be temporarily delayed.
JMP Securities analyst Sameet Sinha writes in a research note that “after a strong March, a solid April and an in-line May,” there had been talks of an online ad turnaround.
Standard & Poor’s analyst Scott Kessler late Thursday cut his rating on Priceline.com to Hold from Buy on a valuation basis. Kessler notes that the stock has rallied 38 percent off an early February low, and is closing in on his $100 price target.
As the recession-pressured market for leisure travel shrinks, the competition for online travel customers is heating up.
Expedia today unveiled an aggressive new promotion, which it calls “Free Nights and No Fee Flights,” offering to pick up the tab for one night in a hotel for stays of three, four or five days at a group of more than 700 participating hotels, and also waiving booking fees for flights booked before the end of May.
The recession is taking a serious toll on American retail, but e-commerce could emerge as a winner.
According to a new report by Forrester Research, e-commerce sales (beyond travel) are likely to grow 11 percent to $156 billion in 2009. That marks a slowdown from 13 percent growth last year and 18 percent in 2007. The major factor contributing to the pace shift is, of course, declining consumer confidence.
You will not be shocked to learn that online holiday spending is not off to a good start.
ComScore today reports that for the first 23 days of November, e-commerce spending–excluding travel, auctions and large corporate purchases–was down four percent from the same period last year. 2007 saw a 19 percent rise in spending–all predictions point to this year being flat. It’s going to be a long winter.
Yesterday, Travelzoo posted weaker-than-expected results for this quarter. The company’s aggressive expansion into the Asia Pacific and European markets, coupled with troubled economic conditions in North America, impacted the company to an unforeseen extent. CEO Holger Bartel plans to curtail activity in both markets during Q4.
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