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Automatic

2817 posts

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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Marriott to cut hundreds of corporate jobs

🛏 Marriott International to lay off 833 employees at its Bethesda, Maryland headquarters by January 3, 2025. After filing a WARN notice, the hotel chain aims to improve enterprise-wide effectiveness through a strategic business review. Affected areas include corporate and regional offices, with the restructure largely complete by the first quarter of 2025. Despite layoffs, Marriott plans to create several hundred new positions, hoping many current employees will transition to these roles.
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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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One in-person meeting equals three virtual ones

🗒 Accor's research, released on Nov 19, 2024, reveals professionals forecast a 36% revenue increase with face-to-face meetings. The study underscores the strategic importance of in-person interactions over virtual ones for successful business outcomes, despite the prevalence of digital alternatives. Face-to-face meetings continue to be a competitive advantage for relationship-building and revenue generation in various industries. Read more at Accor's website.
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Generative AI’s Potential to Improve Customer Experience

🛒 Bain surveyed 700+ U.S. online shoppers, finding 71% unaware of using generative AI despite its prevalence in online retail. Customers are optimistic about AI, with half recognizing its transformative potential. Key design principles for integrating AI into retail include enhancing traditional shopping experiences, extending interaction types beyond chatbots, rethinking data exchange, ensuring transparency and trust in data handling, and reimagining customer service. Errors and inaccurate info were top concerns for 57% and 56% of customers, respectively. Strategic adoption can improve personalization, efficiency, and customer relationships. – Source: Bain Generative AI Usage Survey, July 2024 (n=714)
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