Introduction
WovV Tech’s Airports of Future suite is a complete set of software solutions to help businesses increase profit and productivity. This software suite has been designed to aid the growth of various business verticals. However, in this blog, we are going to discuss how this suite may be extremely useful for Airports to boost non-aero revenue. The reason we are emphasizing the Airports is because this suite has been implemented across different Airports across the globe, and in those places, it has been successful in rolling over millions of dollars. The benefits of non-aero revenue assurance software are beyond any doubt. Airports Council International (ACI) in its recent report unmasks a weird trend: though non-aeronautical revenue is growing, the total revenue per passenger is flattening out because Airports are competing to attract low-cost carriers, which give low aeronautical revenue. To stay profitable, Airports will have to shift their focus to non-aero revenue, which has been growing for many years and is a major component of the Airport’s total revenue. In this blog, we will see why to choose the Airports of Future solution.
How does Airports of Future boost non-aeronautical revenue for airports?
Increases retail income
The global trend indicates that retail sits right at the top of the non-aero revenue contributors, garnering around 30% of the non-aero revenue. Airport managers looking to boost non-aeronautical revenue growth should look for airport software that will revamp retail to generate more income. Airports of Future helps you undertake some path-breaking strategies that can maximize store availability by doing an in-depth analysis of customer behavior and analyzing customer footfall.
Provides sales intelligence.
WovV Tech’s WovVBI is a comprehensive business intelligence software in itself that can provide a significant boost to your sales by gleaning insights from sales data. It can integrate with more than 50 databases, including large databases like Yardi, to provide in-depth analysis of the sales data. Such analysis may reveal information about customer behavior and provide non-aeronautical revenue assurance for airports. Based on the insight gathered, the Airports will be able to tailor store experiences for customers. For example, in the course of analysis, they may discover that Airport passengers are interested more in luxury items than in duty-free sales, and they may shift the focus accordingly. The best ADSR software for airports, which is part of this suite, is WovVRA.
Leveraging the internet for mutual benefit
Internet-based tools are working wonders for passengers. Now, passengers with their smartphones can plan their shopping well in advance, even before reaching the Airport. There are mobile apps that guide passengers to the right shop and even allow them to browse products in the store through the app. Airports of Future also has such features; its OKEN SaaS platform lets shoppers get a complete blueprint of the Airport’s retail area on their mobile phone. An increasing number of airport passengers are using the online medium to plan their shopping and eating. You can give the “store locator” feature using the OKEN SaaS platform to your customers so they can plan what they want to purchase and from where. This ensures your customers don’t miss shopping, even if they are short on time.
Boosts customer satisfaction
Customer satisfaction is the greatest marketing tool. Airports, just like other businesses, are investing too much time and money in finding the correlation between customer satisfaction and revenue. Recent research indicates that just an increase of one percent in customer satisfaction can lead to 1.5 percent growth in non-aero revenue at airports. This has driven many Airport managers to look for ways to turn the customer satisfaction tide in their favor. Modern airport operators rely on the software for non-aeronautical revenue assurance for airports to find important insights from the sales data so that they can understand passengers’ tastes and preferences and step up positive return through a great customer experience. Airports of Future’s WovVXM is customer experience management software. You can use this software for surveys and feedback to gauge customer mood.
Streamline contract management.
Airports’ retail areas are home to some of the greatest global brands. The world’s leading brands look for a presence in the world’s busiest airports to get a share of the passengers’ retail expenses. These brands rely on a revenue sharing model with Airports, and hence their performance greatly affects the airport’s non-aero income. Therefore, Airports look for key performance metrics such as sales per person and sales per square meter from the best sales reporting software for airports to find the most profitable brands. They want to allow only these brands on the airport’s real estate. Airports of Future’s WovVLease is a great lease management solution that helps airports make smart contract management decisions with brands.
Unboxing Airports of Future
The world’s leading airports have believed in WovV Tech’s Airports of Future product suite to streamline their business operations and boost productivity and profit. Here’s a brief introduction to the Airports of Future solution:
- WovVBI: Business intelligence and analytics on the go—DIY reporting
- WovVBiz: Billing, Banking, and Accounting Automation HoS, BoS, and PoS
- WovVFlow is a workflow management solution.
- WovVReco: Reconciliation System.
- WovVLease: Lease Management Solution
- WovVRA: Automated daily Sales Reporting and analytics non-aeronautical revenue assurance tool for airports.
- WovVIA: Audit and Inspection Management
- WovVXM: Experience Management Software
- OKEN SaaS Platform: Mall Experience and Loyalty App
Conclusion:
In this blog, we have covered ways in which you can improve the productivity and profit of the airport using the Airports of Future solution. We have introduced you to different components of the Airports of Future and what they stand for. Airports have already realized the importance of retail real estate in boosting non-aero revenue. Mall-In-Box is well on its way to boosting the non-aero revenue of airports by revamping retail.
