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KODW Trends in hospitality fuelled by the sharing economy
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KODW Trends in hospitality fuelled by the sharing economy

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My keynote presentation from the Hong Kong Knowledge of Design Week on what the sharing economy has highlighted about guest needs in the new world of hospitality

My keynote presentation from the Hong Kong Knowledge of Design Week on what the sharing economy has highlighted about guest needs in the new world of hospitality

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KODW Trends in hospitality fuelled by the sharing economy KODW Trends in hospitality fuelled by the sharing economy Presentation Transcript

  • © 2014 Hong Kong Design Centre. All Rights Reserved.
  • © 2014 Hong Kong Design Centre. All Rights Reserved. E V E RY O N E ’ S A H O T E L I E R . W H AT T H E S H A R I N G E C O N O M Y H A S TA U G H T U S A B O U T G U E S T N E E D S TRENDSPOTTING R A K H I R A J A N I . I N N O VAT I O N C O N S U L TA N T. RAKHI RAJANI
  • M E Psychologist ! Insight + Strategy + Innovation Innovation ConsultantRakhi Rajani |
  • © 2014 Hong Kong Design Centre. All Rights Reserved. L E T ’ S TA L K … RAKHI RAJANI
  • Big Data Mobile Technology Personalisation Urban Innovation Cultural Change B I G S H I F T S … Innovation ConsultantRakhi Rajani |
  • Hospitality is a human skill B U T … Innovation ConsultantRakhi Rajani |
  • Back to basics S O … Innovation ConsultantRakhi Rajani |
  • How the sharing economy has sparked trends that have highlighted human needs and desires A N D E X P L O R E … Innovation ConsultantRakhi Rajani |
  • © 2014 Hong Kong Design Centre. All Rights Reserved. … RAKHI RAJANI
  • People powering the economy using inherent old world values of trust, with technology as a conduit, not a substitute, for sharing. Standards provide a mark of assurance and quality but hosts provide hospitality & intelligent service. D E S T I N AT I O N H O S T http://thenypost.files.wordpress.com/2014/03/cookappcover.jpg Innovation ConsultantRakhi Rajani |
  • Trust ! By 2017, private travel accommodation estimated at $15.4 bn (EU) Peer to peer platforms thrive on evidence Tuck Analysis Innovation ConsultantRakhi Rajani |
  • R E - B I R T H I N T H E C L O U D Re-inventing traditional systems and behaviours through technology. Agility trumps legacy and being naturally asset light means that companies can respond to shifts within the travel industry faster. http://www.execcoach.net/wp-content/uploads/2012/09/Cloud-Systems-for-Coaching.jpg Innovation ConsultantRakhi Rajani |
  • Agility ! 83% of businesses using the cloud Developing new applications CapGemini Stats from interviews with 460 late enterprises Innovation ConsultantRakhi Rajani |
  • P R E M I U M V S F U L L FAT L U X U RY New hospitality propositions catering to the rising middle class and professional elite who favour control & experience. Traditional full service exclusivity is often viewed as restrictive and overwhelming. Innovation ConsultantRakhi Rajani | http://blog.isocket.com/wp-content/uploads/2012/12/Premium.jpg
  • Autonomy ! 1.2 billion middle class consumers in 2030 Emerging market majority World Bank Stats Innovation ConsultantRakhi Rajani |
  • N E W L O YA LT Y Points are not a reward for loyalty, they are a reward for frequency. Loyalty must be quantified differently. Guests want shareable moments. They want to take away a story and leave behind a footprint. Innovation ConsultantRakhi Rajani | http://farm9.staticflickr.com/8473/8125900939_d164990f7a_z.jpg
  • Shareability ! 8% of travellers stay at the same brand of hotels Loyalty comes from being made to feel special Deloitte study on loyalty 2013 Innovation ConsultantRakhi Rajani |
  • N AV I G AT I N G T H E C L U T T E R Personalisation could be a red herring. Curation is more compelling as travellers look to experts and trusted peers for recommendations to reduce choice. Innovation ConsultantRakhi Rajani | http://www.myfriendshouse.co.uk/wp-content/uploads/2013/02/guestbook7-e1361215393788.jpg
  • Guidance ! 50% of customers say they want personalisation Most can’t tell you what that means Oracle 2013 retal survey Innovation ConsultantRakhi Rajani |
  • R I S E O F T H E T R AV E L P R E N E U R Work can happen anywhere, data is accessible anywhere and the notion of home is changing. Entrepreneurs don’t need a single base to work from. Many are women with lifestyle businesses. Travel is not a treat, but the norm. Innovation ConsultantRakhi Rajani | http://4.bp.blogspot.com/-PNWDEOHx8js/Tqcy0HUmC9I/AAAAAAAAG7w/AJLVMwiUsUA/s1600/wanderlust.jpg
  • Wanderlust ! The number of $10-million-plus women-owned firms increased by 57% Being nomadic is a scaleable business advantage Report from womenable Innovation ConsultantRakhi Rajani |
  • D E S I G N V S D E S T I N AT I O N A desire to see and experience design vs destination. A focus on great photography means that hosts are paying more attention to the design elements to showcase their personal taste and design as a differentiating factor. It’s sparking more movement in the interior design industry. http://ww3.hdnux.com/photos/25/22/12/5579418/7/628x471.jpg Innovation ConsultantRakhi Rajani |
  • Curiosity ! People are inherently nosey They draw inspiration from others sunshine.co.uk report Innovation ConsultantRakhi Rajani |
  • M I N D S E T V S G E N E R AT I O N What’s become associated with the millennial generation is a mindset that is shared more widely. Exploring new things, adventure, mobility, mobile access, is a millennial mindset not a generational nuance. http://www.pewresearch.org/quiz/how-millennial-are-you/ Innovation ConsultantRakhi Rajani | http://cdn.sdl.tridion.sdlproducts.com/cxc/Images/Optimizing-Marketing-Millennial-Mindset-preview_tcm73-56025.jpg?v=1
  • Experimentation ! Boomers spend $157 billion on travel every year Bucket lists are being checked Forbes research Innovation ConsultantRakhi Rajani |
  • C R O S S G E N E R AT I O N A L T R AV E L The extended family is back in vogue. Gen Y is struggling to make ends meet and Boomers are looking for connection. http://thumbs.dreamstime.com/z/extended-family-watching-tv-sofa-32509527.jpg Innovation ConsultantRakhi Rajani |
  • Family time ! 53% of parents with kids under 15 take grandparents on holidays Grandparents are often funding family holidays sunshine.co.uk report Innovation ConsultantRakhi Rajani |
  • © 2014 Hong Kong Design Centre. All Rights Reserved. L E AV I N G Y O U W I T H 3 Q U E S T I O N S T O P O N D E R RAKHI RAJANI
  • © 2014 Hong Kong Design Centre. All Rights Reserved. How would you create loyalty through moments of delight? 29Innovation ConsultantRakhi Rajani | https://www.iconfinder.com
  • © 2014 Hong Kong Design Centre. All Rights Reserved. How might you merge big data with ‘human-ness’ to create real connection vs computer generated personalisation? 30Innovation ConsultantRakhi Rajani | https://www.iconfinder.com
  • © 2014 Hong Kong Design Centre. All Rights Reserved. What new types of travellers are you seeing for whom you can create a differentiated customer journey? 31Innovation ConsultantRakhi Rajani | https://www.iconfinder.com
  • © 2014 Hong Kong Design Centre. All Rights Reserved. T H A N K Y O U TRENDSPOTTING R A K H I R A J A N I . I N N O VAT I O N C O N S U L TA N T. R A K H I R A J A N I @ M A C . C O M | @ R A K H I RAKHI RAJANI