From The Editor | December 22, 2014

Hospitality In 2015: Baby Boomers, Technology, And Differentiation

Source: Hospitality Leader Online
Erin

By Erin Harris, editor-in-chief, Innovative Retail Technologies

Erin Harris HLO

Deloitte’s recent insightful report, Hospitality 2015: Game Changers Or Spectators?, is a crystal clear look at what the hospitality industry should be doing in 2015 and beyond to bolster customer engagement. Deloitte reports that there are new rules to the game, and those companies that want to win had better restructure their bench.

Targeting Baby Boomers

The media discusses millennials and their spending authority ad nausem — and they should considering that generation has been shaped by technology and are now the largest, most diverse generation in the U.S. And while the customer experience should be tailored to that group, don’t forget about the older generations, especially Baby Boomers. Deloitte reports that by 2015, Boomers will control 60% of the nation’s wealth and 40% of the spending. Indeed, according to Deloitte, boomers are a key segment and should be targeted with “experiential” life-enhancing products, designed to appeal to their “forever young” attitude. No matter how companies target their customers regardless of their age bracket, social media and mobile should be prominent strategies in 2015.

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