HOTELS

Derek Gale

Lifestyle Trends That Will Shape Our World In 2008
December 6, 2007

In a report released today, global ad agency JWT identifies shifts that will drive consumer thinking and behavior in the year ahead. “We believe it’s essential to plot societal shifts in order to develop big brand ideas,” says Ann Mack, director of trendspotting at JWT. “Trendspotting allows us to figure out how the mood of the moment is affecting people’s lives.”

Below are 7 key trends to watch from JWT, complete with my analysis of what they mean for the hotel industry.

“Blue Is The New Green” Climate change has quickly become the driver of environmentalism 2.0, and people worldwide understand that climate is all about the seas and the sky—both blue. Watch for “green” to become a subset of “blue.”

What it means to the hotel industry: As an industry, while we are now embracing “going green,” we’re not quite caught up with the trend, so no need to get all worked up about “being blue” just yet. More important would be to focus on emerging as environmentally friendly and as being a socially responsible, good corporate citizen.

“Outwitting Disease” Within the past year, scientists have isolated genetic variations that are strongly linked to coronary heart disease, high blood pressure and rheumatoid arthritis. As more genetic links are determined for common diseases, watch for genetic testing to become a routine component of medical treatment.

What it means to the hotel industry: With medical advancements, increasing life expectancy is likely, and the longer people live, the more time they will spend traveling and spending money on unique experiences. This is especially relevant for today’s Baby Boomers, who could live and travel into their 90s.

“Demography Is Dead” Over the coming decade, the possible permutations of age, gender, marital status, family composition, work status and health status will become too complex for easy demographic pigeonholing to be useful or meaningful. Watch for marketers to focus on behavioral targeting and segmentation and stages rather than ages.

What it means to the hotel industry: Brands will need to re-think their target markets and be flexible enough to adapt to a changing global population. Embracing the single traveler, homosexual couples and disabled travelers come to mind as key, as does targeting guests with particular mindsets instead of certain age ranges.

“Rethinking Instant Gratification” “Custom-made” and “one-of-a-kind” are rising above the mass-produced din of “now.” And marketers are asking for commitment from consumers who have become accustomed to flitting from one product to another for quick fixes.

What it means to the hotel industry: Nothing new here. Customization and personalization rule, and there should be an effort to embrace this even in the midscale and select-service segments. To ask for loyalty from your guests, you need to give them a reason to be loyal.

“The World Is Local” It has become a lot easier for people to meet their needs locally, thanks to cell phones, location-based technologies and sites such as Google. Local products and services also are becoming more desirable. Consumers want to be part of the wide world, but they want individuality too. Even if a unique product is not sourced locally, it will attract consumers who appreciate its local provenance and authenticity.

What it means to the hotel industry: In this global industry, be true to your town. Whether it’s giving guests a sense of place in your property’s design and restaurants, or locally-sourcing ingredients for F&B offerings, embrace your locale and its resources. Your guests will thank you for the unique experience.

“Queen Trumps King” One of the most important shifts is the rising power of women. It won’t stop being a man’s world overnight, but over the coming decade, women will increasingly be shaping the world according to their needs.

What it means to the hotel industry: Women will continue both traveling on their own (for business or pleasure) and making travel decisions for their families, so be aware of what women want and need, and aim to deliver those amenities and experiences. Also, look at your work force and consider recruiting women for key positions and roles. After all, only women know what women want.

“Cooperative Consumption” Fractional ownership is moving beyond the shared planes of the jet-setting elite. The masses are already sharing everything from art to cars to designer handbags, and as technology for pooling demand and resources becomes increasingly sophisticated, this model will be applied to an even wider range of categories.

What it means to the hotel industry: Fractional ownership is nothing new in real estate and hospitality, but the building trend of consumers sharing is worth noting and considering—perhaps a mixed-use development makes good sense, and whole ownership is not the only residential component available. Or, if you’re not already playing in this space, maybe it’s time to get into timeshare.

Posted by Derek Gale on December 6, 2007 | Comments (2)