Why women are savvier travellers than men (and how businesses could save millions a year by following their lead and booking flights earlier)

• e-mail

Women are savvier travellers than men, saving money on flights by booking them earlier, according to new research.

An analysis of 6.4million air booking transactions found that women book their flights 1.9 days earlier than their male counterparts.

This means that they pay an average of around two per cent less for their tickets than men. 

Research has revealed that because women book flights earlier than men, they save more money

This table shows advance booking habits as a function of age for men and women

Carlson Wagonlit Travel (CWT) commissioned the study and said that its financial implications are significant.

For companies with 1,000 business travelers, for example, the difference – and therefore the potential saving – is just under $50,000 (£35,000) a year. That rises to $1 million (£700,000) for a traveller base of 20,000.

CWT Solutions Group worked with Javier Donna, Assistant Professor of Economics at The Ohio State University, and Gregory Veramendi, Assistant Professor of Economics at Arizona State University. 

This graph shows the differences in booking behavior between women and men. the 'no correction' column shows the difference between averages over the two genders. The 'corrected' column presents the like-for-like comparison results

Using advanced statistical techniques, they were able to quantify a direct link between gender and flight booking patterns in the study, called Gender Differences In Booking Business Travel: Advance Booking Behavior And Associated Financial Impact.

Other findings include the fact that people tend to book flights further in advance the older they are. 

Additionally, as people's flying frequency increases, they typically book flights closer to their departure date. The gender gap almost disappears among the most frequent travelers, the research revealed.

The analysis technique can be used to examine other areas of travel, helping travel managers gain new insights by understanding traveller behaviour better, the study authors said.

This will help develop personalisation, including more targeted messages, more precise travel management and improved program efficiency.

Catalin Ciobanu, senior director Data & Analytics in the CWT Solutions Group, said: 'This analysis technique opens up a whole new range of opportunities in the quest for personalized travel. 

'It can also be applied to many other types of traveler segmentation, including geography, booking channel used, or individual business unit, for example. 

'Ultimately, by knowing our travelers better we can improve both their experience, as well as the effectiveness and efficiency of corporate travel programs.'

Speaking about the research, Bob Atkinson, travel expert at TravelSupermarket told MailOnline Travel: 'Although these results are about business travel, TravelSupermarket's research concurs that men do indeed tend to book later than women. 

'When we asked Britons earlier this year about their holiday habits, we found out that more than a fifth (21 per cent) of women book their holidays more than six months in advance, as opposed to only 13 per cent of men.

'The earlier you book flights, the better the deals you get. But, it's not the same with hotels. Often the best deals on hotels will be within 100 days of your departure date, when hotels typically start to discount their remaining rooms. 

'The most important thing to do before booking is to shop around and compare options to ensure you got the best price.'