Travel and tourism contributed $9.25 trillion to the global economy in 2019. In 2020, the global industry revenue was expected to increase from $685bn to $712bn. But then, the COVID-19 pandemic hit.
As a result of consumer will, legislation and developments such as ITP, iOS14, and GDPR, the post-cookie world is nearly here. Businesses will be affected in some way at every stage of the cycle and across many industries. It’s time for marketers to dive into their data strategy and prepare for the new landscape.
Many businesses encounter the issue of both over- and underselling and seek innovative ways to deal with that, as any of these scenarios could have a primarily negative outcome for the company. For example, in the recruitment industry, you do not want too little applications for a vacancy because this increases the probability that you cannot deliver new employees. On the other hand, in the travel industry, it costs money when a type of accommodation is not booked and thus left unrented. Additionally, you do not want to invest marketing budgets in vacancies or accommodations that will most definitely be filled or sold. Luckily, with demand forecasting, this can be avoided.
Finding a product that fully meets the personal needs of every consumer is difficult – not to mention misplaced targeting that haunts customers for weeks after an online search. This is not exactly pleasant for consumers, but also not good for webshops, which miss out on a close connection and bond with both existing and potential customers. This can be fixed by providing personalised recommendations, both for products that are very similar to the initial search and for additional and complementary products. The solution? A recommender system.
We are currently experiencing an e-commerce boom, yet, according to eMarketer, retail sales in the US are expected to decline by 10.5%.
At the same time, e-commerce is assumed to grow by 18.0%. Now, usually, the holiday period is an important time to generate high sales volumes for numerous retailers. However, this year, due to lockdowns, social distancing measures and overall economic downturn, the next few months may be rocky. So how can your brand still survive and thrive during this holiday season?
Often times, when travelling, one can easily use 15 apps throughout the entire journey. From Google maps to airline-specific applications, Uber to get to and from the airport and throw in WhatsApp to keep in touch with colleagues. The customer journey related to travelling and the associated preparations is a long one, the number of touchpoints has increased and spans over multiple channels. However, we are the generation who plans, books and manages their travels online. Thus, how can (travel) companies better cater to this digitally connected generation, meet their evolving needs and simplify the customer journey?
Sustainability is becoming a key driver in innovation and no industry is exempt. The increase in climate change awareness and the necessity for businesses to differentiate is compelling companies to transition away from traditional ways of operating, to encompass sustainability along the supply chain as part of their corporate strategy.
Offering an optimal online experience is essential nowadays for getting more mileage out of your e-commerce strategy. For Eurail.com this evolution of e-commerce brought the company at a crossroads. The Dutch online retailer, selling Interrail and Eurail train passes to 31 European countries with 35 rail and ferry companies, is growing fast. So, Eurail.com needed a future-proof solution that would allow for building personal experiences with rich content, rapidly deploying new functionalities straight out-of-the-box and responding to changes in the market. Thus, they decided to overhaul its entire website architecture.
Originally, WeChat was launched in 2011 with the purpose of being a messaging application. Yet in six years time, it has quickly grown to become an all-encompassing digital ecosystem with over one billion active monthly users. This single application has transformed how people communicate, find information, shop, work and manage their daily life. Thus, there is no better digital platform to directly interact with the Chinese consumer than WeChat. But navigating this digital environment is quite challenging, thus how can brands best take advantage of this opportunity?