ATPCO is expanding both reach and accessibility, bringing dynamic pricing to more airlines than ever, along with a standard on which to base a dizzying array of fare offerings.
Having finalized the US-market version of its Next Generation Storefront (NGS) Standard, ATPCO announced that it is expanding the standard globally. At the Elevate Conference in Washington, DC, ATPCO announced that it is forming new advisory boards for the Asia Pacific, Transatlantic, Transpacific, and Canadian markets. Meanwhile, the first US market standard will soon be published. NGS is a set of data standards designed to simplify and enhance the flight shopping experience, allowing an airline to surface and sort the products and services its consumers are actually looking for.
“The US domestic evolution of NGS went at such an incredible pace and achieved success earlier than we were expecting,” said Gianni Cataldo, head of R&D at ATPCO, in a press release. “Our plan was to create the first standard here in the US and then expand into international markets. The fact we are doing this one year after initially unveiling the standard is something to be proud of.”
When attempting to gauge customer desire, each answer can easily lead to more questions, depending on where the customer is coming from. ATPCO has set up advisory boards across the globe to answer those questions. Members of the new NGS advisory boards will include American Airlines, Delta Air Lines, Air China, British Airways, Virgin Atlantic, Ctrip.com, Skyscanner, and CWT; with additional members to be announced in the coming weeks.
Dynamic Pricing for Any Occasion
ATPCO also announced an enhanced model for dynamic pricing, lowering the barrier for airlines that wish to add data-driven conditional pricing to their existing pre-filed fare offerings. The new model enables an airline to implement one or more different dynamic pricing approaches based on an airline’s individual infrastructure and strategy:
Optimized Pricing expands ATPCO’s standard pricing with pre-determined offers, enabling an airline to increase the variety of price points with dual reservation booking designators(RBDs), or more frequent updates using machine learning and upload APIs.
Adjusted Pricing uses an airline’s Dynamic Pricing Engine (DPE) to choose pre-filed fares or adjust a filed product (DPE Generated Price).
Continuous Pricing enables fully-personalized offers, including minimum/maximum pricing or even bid pricing.
“Airlines that figure out how to dynamically change its prices for their loyal customers, will win.” –@joepleader focuses on #personalization and #customerexperience at #ATPCOElevate pic.twitter.com/jL9rdOJptR
— ATPCO (@ATPCOnews) October 1, 2019
This is a research-driven initiative born of ATPCO’s Dynamic Pricing Working Group, which includes over 300 participants from 90 organizations. “Over the last two years we have supported airlines in their need to become more agile in their pricing and provide more structural support for their products. We have already seen over 30 airlines implement Optimized Pricing via the ATPCO infrastructure,” said Thomas Gregorson, chief strategy officer at ATPCO.
ATPCO’s Adjusted Pricing Implementation Guide is now live. Its product teams have begun supporting the new approaches, as well as implementation of the standards.
Rolf Purzer, CEO of ATPCO, said that dynamic pricing allows airlines to increase their profits by targeting products to demonstrable passenger needs, applying a future-forward vision to existing technologies and infrastructures: “Our goal is to provide more value to airlines and systems by enabling more choice to consumers.”