6 Ways Businesses Can Tackle Changing Consumer Behaviour

Understanding what guests want and how the market is shifting

The Canadian hospitality industry is constantly changing, and staying ahead of the game means understanding what guests want and how the market is shifting. Let’s dive into some key areas: market shifts, economic impacts, technology, guest retention, and real-world examples. Plus, we'll see how Entegra (Group Purchasing Organizations) can be a game-changer for the industry.

Market Shifts and Guest Expectations

First off, guests today are all about personalized experiences, eco-friendly options, and convenience. Whether it’s digital nomads looking for a comfy place to work or travelers wanting sustainable options, the market is shifting. Hotels need to be flexible and ready to meet these new demands.

Economic Changes and Guest Behavior

Economic ups and downs, like inflation and changing disposable incomes, impact how guests spend their money. For instance, with the post-pandemic economic situation, people are more cautious about their spending. Hotels can adapt by offering flexible pricing and value-added deals to attract these savvy travelers.

Enhancing Guest Experience with Technology

Tech is a huge player in the hospitality game. Think mobile check-ins, smart rooms, and AI-driven services. By using technology, hotels can create a seamless and personalized experience for guests. For example, Marriott’s app allows guests to customize their stay right from their phones.

Guest Retention, Loyalty, and Engagement

Keeping guests coming back is all about understanding what they want and delivering it consistently. Loyalty programs, personalized communication, and top-notch service are key. Fairmont’s loyalty program is a great example, offering personalized perks and exclusive benefits to regular guests.

Real-World Examples and Best Practices

• Airbnb: They use data to give personalized recommendations, making guests feel valued and encouraging repeat bookings.
• Fairmont: Their President’s Club offers exclusive perks, making guests feel special and fostering loyalty.
• Marriott: Their digital transformation with mobile check-ins and AI-driven services sets a high standard for guest experiences.
• AccorHotels: Their focus on sustainability appeals to eco-conscious travelers and sets a benchmark for responsible tourism.

The Role of Entegra as a GPO (Group Purchasing Organization)

Entegra can really help hospitality businesses by pooling resources to get better deals on goods and services. For example, hotels can save on everything from cleaning supplies to tech upgrades. This not only cuts costs but also ensures high-quality products and services, which ultimately enhances the guest experience.

Conclusion

Stay tuned for Episode 2 of "The Performance Revolution," where we will tackle this topic and dive deep into the discussion.