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Hotel Rates Increase While Occupancy Lags

July 21, 2021

According to the latest CBRE Hotels Research forecast, the U.S. hotel average daily rate (ADR) growth is expected to lead the revenue per available room (RevPAR) recovery, as the occupancy forecast slightly lags the other key indicators. Additionally, CBRE projects U.S. hotel occupancy to near 66% in 2025, about 98% of its pre-pandemic level. Since…

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Consumers Wary As Purchasing Resumes

July 19, 2021

The pandemic may be loosening its grip, but that doesn’t mean that consumers are feeling expansive. While many reports show increased consumer spending, a recent study conducted by Alchemy Worx and YouGov shows some consumers are feeling cautious (43%), mindful (34%) and hesitant (26%) about spending money. Moreover, consumers have certain expectations about brand behavior.…

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Google Reveals Traveler Keywords and Other Trends

July 19, 2021

While it has been clear for months that there has been pent-up demand for travel in the wake of the COVID-19 pandemic, new data from Google reveals the extent of travelers’ desire to get back out there. Pent-up demand for travel is greatest among younger generations, representing more than half of all Americans and a…

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Lego Unveils New ‘Retailtainment’ Concept

July 19, 2021

The Lego Group recently shared a look at its future of experiential retail, as it opened the doors of a brand-new store in New York City late June. This two-story location on Fifth Avenue features a new retail format, one that will be introduced in part to more than 100 stores worldwide over the next…

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Consumer Shopping Habits Have Changed For Good

July 9, 2021

The pandemic itself, along with how we are emerging from it, is reshaping the economy, government and business in lasting ways. A lot of this reshaping is fueled by changing consumer shopping habits. The pandemic pushed nearly all consumers to utilize, if not rely on, ecommerce—and it pushed retailers to adapt according. And while ecommerce…

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Consumer Values Shifting Away From Price and Quality

June 30, 2021

According to a new report by Accenture, a majority of consumers—across demographics and geographics—are reimagining their values and basing their purchasing decisions on factors beyond price and quality. And these new preferences are powerful enough to drive both brand switching (“should I stay?”) and willingness to spend more (“would I pay?”). Here is what is…

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Working From Home Allows Americans to Travel More

June 23, 2021

A shift to working from home is bound to be one of the lasting effects of the pandemic, and it seems to be popular with workers. According to Priceline’s latest Work-Life Balance Report, 40% of Americans prefer to work from home full time, and 66% said that they feel encouraged to explore new destinations while…

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The U.S. Economy May Never Return to “Normal”

June 23, 2021

While the U.S. economy has come a long way since last year’s devastating downturn, a return to “normal” may not be possible. Many states have done away with pandemic-related restrictions, but life as it used to be hasn’t fully resumed. CNN Business and Moody’s Analytics Back-to-Normal Index currently sits at 93%, but 100% is predicted…

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The High Price of “Free”

June 23, 2021

One of the most powerful words in the English language is the term “free,” and just about every company uses some kind of “free offer” in their marketing. “Buy one get one free”, “Get a free gift with purchase” or “Get free delivery” are just a few examples. It makes consumers feel as though they…

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Younger Consumers Spending More Than Ever

June 23, 2021

Younger consumers, even though they have less saved than older consumers, are the ones opening their wallets as the U.S. economy recovers. American Express Company revealed that both Millennials and Generation Z are spending even more now than they did before the pandemic, as vaccines continue to rollout. “We assumed there was such pent-up demand—not…

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