What’s a Trend Worth?

By Christine Born, December 11, 2015

Prosumers and the Experience Economy

Today’s super consumers are aspirational, looking for experiences, authentic flavor and local culture. They also want to create and participate. Instagram created an army of instant-art photographers. How can you use this trend to give your prosumers the instant skills (and often status fix) they want?

Good Works

Aligning with consumers’ beliefs, values and ideals is becoming more important and requiring significant action, not only from the marketing staff but the entire organization. Studies show a majority of millennials believe businesses should share a point of view about issues and should influence others to get involved in an issue.

The Sharing Economy and Fair Splitting

A recent study found that 45 percent of millennials in the U.S. would like to use their smartphones to split bills with friends. The Internet and the sharing economy allow a new world of asset sharing that is spontaneous, useful, fun and profitable. How can you use these trends? Try subscription-based events that might be shared with business colleagues; new pricing and payment formats; and crowd-funded events and crowdsourced content that might drift over to future meetings.

Diversity

A global world is driving the demand for more inclusivity, encompassing attendees, speakers, programs, activities locations—in fact, every aspect of meetings. How are you appealing to different communities? Are you offering compelling and diverse education and activities? Are you accommodating people of different abilities?

Multiple Personalities

Andrew Freeman & Co., a boutique hospitality and restaurant consulting firm, named 2016 The Year of Multiple Personalities. Multiple personalities want different things at multiple times, adding pressure to think outside the box and stand out from the crowd. Simply put, everyone in the hospitality world will need to get inventive.

Good News

According to American Express Meetings & Events, face-to-face meetings and meeting budgets are either growing or declining less than seen previously in the recession and recovery years: “The meetings industry is getting healthier and being looked at more seriously as a category from a real business perspective.”

The number of planners is expected to go up, adding another 30,000 jobs to the existing 90,000 over the next 10 years. Overall, “face-to-face interactions will become even more important. Events will be more important than ever.”

Take this trend to your management.

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