Web Cast: Changes in Consumer Behavior - Impact for Revenue Management and Sales
January 23, 2009
The consumer has been battered by the recession - disappearing 401ks, evaporating home values and job losses - real or anticipated.
"The good news is that we have been in a recession for 12 months, there's light at the end of the tunnel," says Carol Verret. "The bad news is that changes in consumer behavior during the recession may not snap back to previous consumer spending patterns when it is over."
In this web cast we will examine:
How to appeal to customers in the downturn. It's all about ‘value' but value is not a price point. It is about experiences that consumers are willing to pay for. The hotel's ideal customer in the downturn may not be the ideal customer after the recovery begins.
What the ‘new consumer' will look like when the recovery occurs . 401ks are not likely to recover quickly nor are the values of people's homes - both of these things made the consumer ‘feel rich'. The consumer is changing from maxing out credit cards to a savings mode but they will still travel. What will entice them to buy?
What revenue managers and sales people can do to get more business from the new consumer. Identifying the customers that find value in the experiences of your hotel/destination is key to thriving in the present economy and beyond. How to locate them and appeal to them requires creatively using traditional and non-traditional booking channels and communication. (Twitter anyone?) The trends that that customer will ‘buy into' in travel.
This web cast should be attended by Revenue Managers, Sales staff and General Managers that want to understand the dynamic of the ‘new consumer'. We will draw on the latest research and trends to provide participants with tools they can use at the conclusion of the program.
The web cast is approximately one hour in duration and is at 1:00PM EST, Noon CST, 11:00am MST and 10:00am PST, January 23rd, 2009. The fee is $139 per connection, $129 for two or more connections from the same company.
$139 for Single Connection
$129 for two or more connections from a hotel or management company
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