consumer behavior
Cloudbeds Launches Inaugural State of Independent Lodging Report
Cloudbeds | March 20, 2023
(SAN DIEGO, CA) March 20, 2023 — Cloudbeds, the hospitality management platform powering more reservations and happier guests for lodging businesses around the globe, today announced the launch of its inaugural State of Independent Lodging Report. The first installment of the report, which will be released annually, offers a unique and data-rich view into the independent lodging segment, including data from property types and segments often overlooked in industry reporting. “Over the past decade, we have enjoyed a front-row seat to one of the world’s most dynamic and accelerating industries. We’re thrilled to utilize that privile...
Understanding Consumer Behavior: How to Influence the Decision-Making Process
Ana McFee | June 17, 2022
By Ana McFee Understanding the consumer decision-making process is integral to influencing the outcome of consumer behavior. The consumer cannot be viewed as an abstract, making random decisions based upon convenience, opportunity or chance. Rather, there is ample research to suggest that consumers can be well-understood personas and their behaviors can be - if not overtly predicted - then influenced in a certain direction that will satisfy both their needs and desires along with those of the service or product provider. What is Consumer Behavior? The study of consumer behavior is concerned with how individuals and organization...
Consumer Behavior Changes During the Pandemic: What Should Businesses Know?
Hassan Al Sayegh | January 22, 2021
By Hassan Al Sayegh It has been one year since the first COVID-19 case was reported to the World Health Organization in December 2019. The World Health Organization declared it a pandemic in March 2020. Multiple countries during the pandemic have initiated nationwide lockdowns and restrictions (WHO, 2020). The pandemic has led to global economic disruptions described by the IMF as the worst since the Great Depression (Jones et al., 2020). COVID-19 is having a lasting impact on consumer needs and preferences (Samuel, 2020). It is being declared as “the new normal” (Charm et al., 2020). Interestingly, consumers are adjusting to this n...
48% of Americans Canceled Summer Travel Due to Coronavirus Concerns
ValuePenguin.com | April 27, 2020
Nearly half of those with an upcoming trip lost money on nonrefundable costs, averaging more than $800. NEW YORK, April 27, 2020 -- Uncertainty surrounding the coronavirus pandemic has caused nearly half (48%) of Americans to cancel their summer travel plans for this year leading to more distress for the travel industry. Additionally, 1 in 6 Americans also said they would wait a full year before traveling again. Unfortunately, canceled travel isn't the only thing causing trouble for the travel industry. In a recent survey by ValuePenguin, 43% of Americans said they feel more negatively about the industry as a whole and will change the...
Consumer Behavior—Motivations, Emotions
Caitlin Hayes | March 8, 2018
Helen Chun's passion is to understand human behavior—the motivations and emotions of consumers—and strategies for marketing and consumer satisfaction. When we think of a good consumer experience, we're apt to think of the experience itself—going to a movie, eating a good meal, or staying at a nice hotel. But the pleasure of that experience, says Helen Chun, Cornell School of Hotel Administration, extends beyond the boundaries of the event itself. "I'm looking at what happens before the consumer arrives at your property, the pre-consumption stage, and then what happens after the visit, the post-consumption stage," Chun ...
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...
New Report: Consumer Mega-Trends Impacting Hospitality in 2016
Sabre | April 27, 2016
Sabre report analyzes changing consumer behavior and emerging trends to identify what consumers will want next SOUTHLAKE, Texas – April 27, 2016 – Consumer shopping and buying behaviors are always evolving, but the most disruptive changes are still ahead. The latest research study from Sabre (NASDAQ: SABR) examines today's emerging trends to reveal what travelers will want tomorrow. Sabre Hospitality Solutions has partnered with TrendWatching, a company that tracks emerging patterns in consumer behavior, attitude and expectations, to identify the major consumer mega-trends that are expected to have the most impact on the tra...
