What defines a "commodity" in terms of travel products?

A "commodity" in the context of travel products is defined by its characteristics of being a standard product with stable pricing across markets. This means that such products are fundamentally similar regardless of where they are purchased, leading to limited differentiation between providers.

For example, base-level hotel accommodations or standard airline tickets often have similar features and price points, making them commodities in the travel market. Because their essential qualities do not change significantly from one supplier to another, consumers may choose based on price rather than brand loyalty or features.

Standards and stability in pricing also mean that commodities are typically less influenced by factors such as brand identity, offering predictable purchases for consumers. This clarity is beneficial in travel planning, where budgets and costs are often a primary concern for travelers.