IXIGO VS CLEARTRIP: THE BATTLE TO BE THE NO. 2

MakeMyTrip is the leader by far, forcing the others to battle for second spot

- Radhika P. Nair

It isn't every day that you come across companies declaring with some ferocity that they are second best.

That kind of intensity is usually reserved in the battle for the top spot. But with the No.1 position out of reach by some distance in this particular business, everybody is fighting to be No. 2.

"The debate about the number two position is finally over," declared Ixigo's chairman and group chief executive Aloke Bajpai, in a conversation with Mint. "If you look at impact, we touch more travellers than anyone else. On financial metrics like revenue or GTV (gross transaction value), we are number two. On growth, we are number one because we are the fastest growing OTA (online travel agency)."

But, Manjari Singhal, rival Cleartrip's chief business and growth officer, had a ready counter. "We have a strong right to be number two," she said. "This year was about laying strong foundational layers."

Their competing assertions reflect a deeper truth about the shape of India's online travel market. MakeMyTrip (MMT) sits securely on top, holding more than a 50% market share, according to travel advisory and analytics firm VIDEC. This is a level of dominance that has proved difficult for any rival to meaningfully challenge. Below it is a tightly clustered pack of other OTAs. Consumer-focused Ixigo and Cleartrip sit closest to the number two spot, with EaseMyTrip and Yatra completing the set. Each company's market share hovers between the 7% and 9% mark.

But, EaseMyTrip's numbers have stagnated for nearly three years, leaving it unable to keep pace with the rest of the market. Yatra, meanwhile, has increasingly pivoted toward corporate and enterprise travel, effectively taking itself out of contention for the number two consumer OTA position.

But why does this battle for number two matter?

RIPE FOR GROWTH