On Klook’s 9th anniversary, Klook co-founders CEO Ethan Lin and COO Eric Gnock Fah take a trip down memory’s lane. Let's delve into Klook's journey, business performance, and future strategies that are shaping the travel industry.
Looking back on 9 years of Klook, can you share an overview of Klook’s journey and the significance of this year’s 9th birthday milestone?
Ethan Lin: When we first started Klook, we had a simple yet powerful mission: to bring the world closer together through incredible experiences. We believe that travel goes beyond visiting different cities and places. It's about embracing culture, forging connections, and creating lifelong memories. Our journey at Klook has been nothing short of exhilarating. Over the past nine years, we've transformed the way people approach travel, making it more about experiences than just destinations. Today, we are Asia’s leading platform for experiences and travel services. Reaching our 9th birthday is a testament to our relentless commitment to creating unforgettable travel experiences and we’re proud of how far we’ve come.
Eric Gnock Fah
Tell us about Klook's impressive 2023 business performance, and what factors contributed to achieving these new performance heights?
Eric Gnock Fah: In 2023, we achieved remarkable business performance by reaching US$3 billion in annualized sales, with our growth nearly tripling compared to 2019. Several key factors have contributed to this success. We've expanded our service offerings extensively, now providing over half a million experiences and travel services in over 2,300 destinations globally. Our user-friendly platform is available in 15 languages, serving all corners of the world with a focus on APAC, and attracts over 60 million monthly visitors. This combined with our commitment to providing diverse, unique experiences has fueled our growth.
As Klook moves forward into the future of travel, what were some of the highlights of 2023?
Eric Gnock Fah: We’ve introduced several new segments in the last year such as the Klook Pass, music events with more to come in the pipeline, and Shinkansen bookings where we’re the first in the world who can offer a seamless way to book these trains. Klook is leading the way into the future of travel by focusing on experiences and the evolving preferences of the next generation of travelers, particularly Millennials and Gen Zs, and work with our merchants and operators to design new social-media friendly experiences. Technology remains at our core, with the introduction of services like Klook AI (K.AI), an intuitive smart chatbot, to enhance the booking experience. Our commitment to offering a diverse range of unique experiences is at our core driving our growth and expansion.
Could you provide insights into the travel behaviors and preferences of Millennials and Gen Zs, who form a significant part of your user base?
Eric Gnock Fah: Millennials and Gen Zs are dynamic and intentional travelers. They lean towards independent travel experiences and prioritize fun activities and cultural immersion. We've noticed that experiences have become the new travel currency, with users spending more on activities and services abroad than on shopping in different destinations. Planning their trips well in advance is a common trend among Millennials and Gen Zs. As digital natives, social media is often where they turn to first when planning a holiday.
Ethan Lin: Social media and technology play a massive role in Millennials and Gen Zs travel journey. That’s why we introduced our Klook Kreator Program, an industry-first influencer affiliate program. We’re tapping into the power of social media to build an online community of travel lovers.
What’s in store for Klook in 2024 and beyond?
Ethan Lin: Looking ahead, we have exciting plans for 2024 and beyond. We anticipate a resurgence of mega events, particularly in entertainment and music tourism, following successful examples like the Taylor Swift concert in Singapore, and the Warner Bros. Studio Tour Tokyo. Our pipeline for the next 24 months is filled with exciting experiences curated for our customers.
Eric Gnock Fah: Our goal is to maintain our industry leader position, consistently staying ahead of emerging trends and actively reshape the travel landscape and continue to enable modern travelers to find joy through experiences. For us, the term "experiences" extends beyond the realm of business; it’s also about enhancing the customer experience for everybody who uses Klook. We are excited about the future and the opportunities ahead. Thank you to everyone who has been a part of Klook’s journey thus far.
