Consumer Trends for 2011
December 7, 2010
I have some friends who live for last minute travel deals. They are signed up to at least two dozen travel discount sites and are bombarded daily with deals to take them to exotic locals all for $250 all inclusive plus taxes. While there was a time that this was solely the realm of volume discounting for mass market resorts you now are seeing smaller scale operations all over the world enter this realm as a way to meet the growing demand of the savvy and experienced global consumer. Companies like Groupon have exploded onto the scene in the last few years using social media and the internet to drive large volume sales. There really is a pandemonium occurring out there in the world of sales and pricing as consumers realize their growing power within the marketplace. However, it doesn’t stop at pricing wars, as you see clear trends in what consumers are looking for from their brands in regards to social consciousness and giving back, eco status and healthy options. It is clear that the competition is fierce out there and not directed at the guy down the street but the destination, hotel or kayak operator 5000 miles away. So, how will you compete in this global marketplace? What is your plan? How will you identify your markets and deliver your message to them? You need to understand your business and the markets to ensure you are creating new products and experiences that are in line with what consumers want! There are lots of ways to do this, for example contacting your local tourism department to talk with research professionals who can provide information, signing up for google alerts on specific tourism subjects that relate to your business, reading information on what’s going on in the industry and monitoring consumer trends. Just recently there was an article released on Consumer Trends for 2011 by trendwatching.com, and in this article it lists the top 11 consumer trends for 2011. Read it! You will get some insight into what you may be able to do in your own business and remember that Rome wasn’t built in a day. Many of the things you can do to create a successful business do take time. Stay true to your vision and allow your passion to come through in your experiences and products; and most importantly make your visitor feel like he or she is your number one client!