Online Restaurant and Travel Research

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Online Restaurant and Travel Research

Key Takeaways

  • There are over 8,500 travel influencers globally with at least 100,000 followers on Instagram. On the other hand, there are over 4,850 food and drink influencers globally with at least 100,000 followers on Instagram.
  • The TAM of the restaurant reservations market has been calculated to be $636.91 million.
  • Out of the over one million mentions on social media platforms about the restaurant, food and beverage industry, 57% were about quick service restaurants.
  • Travel-related content gets more social media mentions than Justin Bieber, Katy Perry, and Tayler Swift combined.
  • Out of all brand mentions on Twitter, "food and drink brands are mentioned the most with 32 percent share of tweets."

Introduction

We have calculated the TAM of the restaurant reservations market, the number of travel and restaurant influencers with at least 100,000 followers, and provided quantitative insights into the percentage of content that is related to travel and/or restaurants on social media platforms.

Instagram Travel Influencers

  • Starngage, an "influencer marketing platform helping brands to analyze, customize, manage, and measure word of mouth marketing campaigns on Instagram," tracks, analyzes, and ranks influencers on Instagram based on the number of followers, the topics they post about, and the country of residence.
  • According to the platform, there are 120,856 travel influencers with between 1,000 and 10million Instagram followers. Through our analysis of Starngage's ranking of the top travel influencers in every country, we found out that there are slightly over 8,500 travel influencers in the world with over 100,000 followers on Instagram.
  • According to Starngage, there are 67,913 food and drink influencers globally with between 1,000 and 10 million Instagram followers. Our calculations revealed that there are over 4,850 food and drink influencers in the world with over 100,000 followers.

Restaurant Reservations Market TAM

  • We have calculated the TAM of the restaurant reservations market by aggregating the revenues of the top five players in the restaurant reservation technology market. The top five players in this market by market share are OpenTable, Resy, La Fourchette, Quandoo, and ResDiary.
  • The estimated revenues of the top five players in the market are:
  • The top five players in the market generate a total of $488 million in annual revenue. Since these players make up 76.62% of the market (OpenTable as a vendor has two restaurant reservation technologies, each having its own share of the market,) we can calculate the TAM of the market as follows:
TAM = $488 X 100% / 76.62%
= $636.91 million.

Travel and/or Restaurants Related Content on Social Media

  • While there is limited information on the public domain on the percentage of content that is related to travel and/or restaurants on social media platforms, below are some qualitative and quantitative insights of travel and restaurant content on social media.

Research Strategy

To determine the number of travel and restaurant influencers that have at least 100,000 followers, we leveraged Starngage, an "influencer marketing platform helping brands to analyze, customize, manage, and measure word of mouth marketing campaigns on Instagram." The platform tracks Instagram influencers globally with between 1,000 to 10 million followers. We found the number of influencers with over 100,000 followers from 120 countries and added the numbers to arrive at a final number of influencers fulfilling the required criterion. It's worth noting that Starngage analyzes influencers in the food and drinks category. In the absence of a restaurants category, we have provided the food and drinks category as a proxy.

Since all the major players in the restaurant reservations market are either privately-held or are subsidiaries of public companies which do not report the revenues of their subsidiaries, we have used revenue estimates from third-party sources.
Sources
Sources