Global travel restauranteur SSP unveiled its latest whitepaper last week, shedding light on the key factors shaping travel and hospitality. The report dives deep, examining consumer trends and behavior shifts, providing actionable recommendations for businesses eager to stay competitive.
The whitepaper categorizes these important consumer trends across three tiers. The first tier encapsulates global macro shifts affecting human behavior and populations worldwide. These global trends involve geopolitical factors shaping the global order and demographic shifts such as aging populations and changes to family structures. Also included are environmental concerns, which relate closely to sustainability, the impacts of climate change, and issues surrounding biodiversity.
Moving to the second tier, the whitepaper highlights megatrends redefining consumer expectations and market dynamics. One significant trend is the consumer's deepening desire for new experiences. Today's consumers are increasingly on the lookout for memorable events engaging multiple senses. This evolution is fueled by the rapid acceleration of digital technology. Shoppers are now demanding products and services capable of simplifying—if not speeding up—the experience of travel.
Simultaneously, consumers are seeking reassurance from brands on how these enhancements will work together with human interaction moving forward. Not only this, but there's been a strong consumer movement toward holistic health consciousness. Shoppers are endeavoring to make healthier choices, being mindful of the reduction of sugar, calories, salt, and alcohol without sacrificing indulgence.
The whitepaper notes growing economic instability and heightened inflation have placed renewed emphasis on price and value. Consumers are now more conscientious about how their choices affect the environment and their local and global communities. They actively seek brands aligning with sustainable and values-driven practices.
Interestingly, travel remains high on the priority list for consumers, who are increasingly travelling for leisure rather than business. The rise of ‘bleisure’ trips—mixing business and pleasure—is becoming more common, with travelers planning trips outside traditional holiday periods.
SSP's Group Chief Operating Officer Jeremy Fennell elaborated on the findings, stating, "We are the food travel experts – and our expertise must be underpinned by a deep knowledge of how the travelling consumer thinks and behaves." He emphasized the need for businesses to react to rapidly changing demands and trends as they arise. "The pace at which trends have emerged has accelerated at an unprecedented rate, meaning keeping abreast of change and reacting to it quickly is even more demanding," Fennell remarked.
Through extensive studies and analyses, SSP has made significant strides toward identifying and tracking these trends, and their unique regional differences. Fennell underlined how such knowledge is foundational for creating innovative brands, trend-appropriate menus, and enriching environments to delight travelers today and tomorrow.
Looking forward, the whitepaper not only outlines current trends but lays the groundwork for strategic foresight. Businesses encouraged to continually monitor these trends and react accordingly will be best positioned to thrive amid fluctuated consumer preferences. The insights gleaned provide companies with the necessary tools to connect with customers and drive lasting engagement.