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Automatic

2871 posts

Is hidden technology the new luxury?

💻 On Nov 21, 2024, shy tech emerged as a new trend for designing company spaces, emphasizing the integration of technology without visible gadgets. Automakers like Tesla have led this trend by replacing buttons with touchscreens. The trend has extended to homes, offices, stores, and restaurants, aiming to create functional, high-tech, unobtrusive environments. More details are available at JLL.
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Travel is a priority, but life stages shape our plans and choices

🏖️ Nov 21, 2024 - Tripadvisor's "Travel Through Life" report details travel habits across eight life stages. Newly engaged/married couples are set to purchase new clothes (94%) and accessories (88%) for trips, while established professionals favor food (70%) and premium products (45%). Retirees may spend over $10,000 on travel next year, 50% more likely than other groups. Destinations vary: 71% of established professionals seek global adventures, 90% of empty nesters prefer relaxing holidays, 51% of retirees choose domestic travel, and students prioritize memorable experiences (61%).
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STR lowers US lodging forecast for this year and next

🏨 On Nov 21, 2024, STR and Tourism Economics revised US hotel forecasts for 2024 and 2025, due to inflation and uncertainty with the Trump administration. US hotel occupancy for 2024 is now projected at 62.9%, with ADR growth at 1.5% and RevPAR growth at 1.4%. For 2025, occupancy is expected at 63%, ADR growth at 1.6%, and RevPAR growth at 1.8%, all lower than previous estimations.
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Travel managers face new challenges

📈 On Nov 21, 2024, BCD Travel conducted a global survey with 187 travel buyers to understand the evolving roles and responsibilities in the industry. Key findings show travel managers' duties now extend to travel procurement (68%), payment and expense management (51%), managing TMC relationships (53%), and developing travel strategies (47%). They also focus on cost control, data analytics, adapting to industry shifts like NDC, and using new technologies to showcase travel program value to top executives.
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How TikTok is changing the face of travel

🏖 Over 70% of European TikTok users are likely to book trips based on platform recommendations. More than 60% of Gen Z Americans use TikTok as a search engine. The app uses geolocation for tailored content, impacting travel trends with videos like "top things to do in Paris". TikTok's rapid growth poses challenges for destination infrastructure. [Nov 19, 2024]
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Luxury brands lose ground with younger audience

💸 Global luxury spending is projected to hit nearly €1.5 trillion in 2024, with minimal growth ranging between -1% to 1% compared to 2023. Economic uncertainty and rising brand prices lead to reduced non-essential luxury purchases. Despite this, luxury experiences continue to be in demand, focusing on travel, social events, and wellness, rather than material goods. Data provided by Bain & Company on Nov 19, 2024.
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Euromonitor’s consumer trends and their impact on travel

📊 Euromonitor International, in a report released on November 19, 2024, identifies 'Filtered Focus' as a top global consumer trend for 2025, highlighting the challenge consumers face with information overload. Brands that offer clear communication and simplify the search process for consumers will excel. Personalized recommendations and efficient customer service are key strategies for companies to assist consumers in managing the excess of choices and information.
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