behavioral economics
U.S. Travel Reacts to SBA Decision on EIDL Eligibility
U.S. Travel Association | May 5, 2020
WASHINGTON (May 5, 2020)—U.S. Travel Association Executive Vice President for Public Affairs and Policy Tori Emerson Barnes issued the following statement on the Small Business Administration's decision to reopen the Economic Injury Disaster Relief application portal only to agriculture-related businesses: "Excluding major segments of the economy from emergency relief funding not only hurts small businesses and workers, but jeopardizes the strength of the broader economic recovery." "Non-profit entities—such as destination marketing organizations and arts and culture groups—are essential for driving consumer demand to their region...
5 Ways Hotels Can Use Behavioral Economics to Improve Conversion Rates
Gautam Lulla | December 20, 2017
By Gautam Lulla Understanding the rationale behind consumer decision-making has long been an obsession for marketers. Popularized today as behavioral economics, brands such as Amazon and Netflix invest millions into understanding the psychology of their consumers shopping habits in order to drive purchases. In the travel industry, OTAs also build their platforms around principles of buying psychology to boost conversion rates. Yet far from being a secret or expensive investment, many of these same principles can be applied by hotels. In the following post, we'll look at 5 ways hotels can use behavioral economics with actionable examples...
