Many travelers wont mind the nature why travel tickets shift its prices regularly. That is, if the money they are taking out comes from somebody else’s pockets. But most travelers are so conscious about travel tickets mainly because flying does not come cheap. This is the reason why everybody wants to know how travel ticket pricing works so that they would identify when and how to buy travel tickets that is much cheaper than the regular price.
First and foremost, it should be noted that the price of travel tickets are influenced by three major factors: demand, inventory, and competition. You must be wondering why traveling during weekends, Mondays, and Fridays are much expensive than traveling during midweeks like Tuesday and Wednesday. Obviously, more travelers fly during weekends since those are the only dates when they are free from work. On the contrary, mid-weekdays are the slowest dates to fly. To control the travelers, airlines tend to increase the travel ticket price during weekends. Likewise, during the dates when people travel less, airlines have to lower the rates to attract passengers.
Airlines also capitalize on inventory to keep the bookings flowing. Usually, you would notice that plane seats are divided into segments. These segments have different seat prices. And when airlines advertise these seats, they advertise the cheapest seat price. Airlines also set aside a handful of discount tickets to offer for travelers who want to take advantage. When advertised, these discount tickets are the hottest. And when all these low-priced seats are offered, they are sold fast. So you don’t have to wonder why airlines often have surprisingly low travel tickets. But all these go back to the demand. Considering that everybody wants to grab the cheapest possible travel ticket, the supply may be scarce. Unless you know how to draw faster that the others, you have great chances of getting it.
All airline companies like any other companies in different fields compete. And when they do, expect that the travelers would reap. If in case an airline from Chicago to San Francisco lowers its rate by 15%, expect that other airlines flying on the same route would match the discount rate. This would prevent one airline to dominate the market share.
Aside from these three factors, there are other reasons why travel ticket prices fluctuate. One reason is the season of the year. We know that weekend travel ticket prices are much higher than the weekdays. The season of the year works with the same principle. Notice that during the holidays, travel ticket prices are in its peak. This is normal because many would travel during this time. Again, it all boils down to demand. High demands during holiday season would increase the travel ticket prices.
Other reason could be the timing of the actual travel ticket sale. There are airlines which sell discounts at specific time. It may be 21 days before the scheduled flight. It may even be 14 or 7 days. Purchasing tickets in advance would also give you clear travel ticket discounts.
All these influence travel ticket prices. The trick is to know and determine when to buy tickets. The “where” is also important since travel agents both online and offline work with different nature. So the next time you notice the changes in travel ticket prices, you already know the reason why.