KIND OF FALSE: PEOPLE WANT MORE SERVICES (AND FEWER THINGS)

Nov 26, 2017 8:57:15 PM / by Ron Kagan posted in Travel, Hospitality, Consumer Spending, Authenticity, Technology, MarTech

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NOT QUITE TRUE: PEOPLE WANT MORE SERVICES (AND LESS THINGS)

More Spotify, less Heineken? More Six Flags, and less Toyota Camrys?

In a previous post, I cited Deloitte's "2017 Travel and Hospitality Industry Outlook," which has this nifty chart in it, which is compiled by crunching data from the Bureau of Labor Statistics:

Now the issue with this, according to research published by Dr. YiLi Chien (Senior Economist, Federal Reserve Bank of St. Louis), is "the components of total consumer spending are not necessarily good indicators of the real share of consumption because the components can have different inflation rates."


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Two Truths and a Lie from Deloitte's 2017 Travel and Hospitality Industry Outlook Report

Nov 26, 2017 8:56:50 PM / by Ron Kagan posted in Travel, Hospitality, Fake News, Consumer Spending, Authenticity, Technology, MarTech

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INTRODUCTION:

Like a traveler seeking a hospitable welcome, your digital journey increasingly takes you to destinations where you expect to be a known quantity who's treated with respect and made to feel valued.

Whether or not you're in the travel and hospitality industry, Deloitte's done us a service by putting together a highly readable report with lessons that are worth acting on, particularly when it comes to points 2 and 3 below.

The report covers how nowadays...

  1. Purchases are shifting from goods to experiences, which helped the travel industry grow over gross domestic product (GDP) (Deloitte's actually not totally correct here, follow the link to find out why).
  2. Authenticity matters. It's more than just travel brands that are getting pressured to perform against the backdrop of authentic-sounding disruptors like Airbnb. Deloitte notes how the consumption of food and drink has changed with the slow-food / organic movement as well as craft beer becoming so en vogue. There is a hunger for authenticity all around us.
  3. Personalization matters. Travel businesses struggle with many of the same issues that others face when seeking to personalize their content because people change and travel purchases happen infrequently. Deloitte is absolutely correct that there are tech-forward ways to deal with dirty data and the dichotomy between B2B and B2C consumer preferences.
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Jeremiah Tower The Last Magnificent (what I learned watching Anthony Bourdain's CNN doc).

Nov 23, 2017 9:18:05 PM / by Ron Kagan

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I blog about invention and entrepreneurs.

So much of what that has to do with is cultivating an understanding of how people have changed what came before them.

If we are what we eat, we can learn a lot about ourselves from the specialists who concot world-reknown dishes.

CNN has done a mitzvah by putting together this richly textured documentary on Jeremiah Tower who pioneered the meshing of disparate cuisines with fresh local ingredients that's come to be known as California Cuisine for which Tower won multuple James Beard Foundation Awards.

After watching this documentary, I'm looking forward to learning more, probably from diving into Editor-in-Chief of Gourmet Magazine, Ruth Reichl's, reflection on the Berkley kitchen Chez Panisse, where Tower made his mark.

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