Marbella hosted a very successful RDO2 Resort Development Conference last week creating a networking opportunity for experts as delegates “mapped the future” of the shared ownership industry during a very sunny two and a half days.
Dave Thackeray reports in RCI Ventures that one of RDO’s guest speakers Professor Alan Fyall highlighted key trends in the tourist industry during his talk “Turbulence, Twitter and Tsunamis”. The professor offered insights for industry executives for surviving the current climate and how to increase their share of the shared ownership market.
Professor Fyall highlighted the importance of keeping up with consumers’ changing attitudes, and how to market to them, particularly as there is an ever-evolving, ever growing choice of products, services, programmes and destinations available to consumers.
A greater choice of tourism-related products and changes in consumer attitude means shared ownership has to modify the way it works with its owners.
The five key trends in tourism that were highlighted were:
- Personalisation. Consumers now expect personal customisation and have more choice.
- Simplification. Keeping it simple – don’t confuse your clients, you could lose them.
- Authenticity. Be genuine and be real, and ensure your product is too.
- Forever young. “50 is the new 40, 60 is the new 50, and so on – and you have to react with products and services according to this shifting mindset.”
- Speed of change. As social media becomes central and the number of people buying online increases, consumers want instant access 24/7 and more control.
Professor Alan Fyall is Professor in Tourism and Deputy Dean Research & Enterprise in the School of Tourism, Bournemouth University. He is widely published in his fields of expertise with over 100 published articles to his name, as well as book chapters, conference papers and 11 books. Alans book “Tourism Principles & Practice” is one of the leading international text books on the subject and has been translated into Spanish, Portuguese and Mandarin.