how you can use hot new niches to drive visitation and ... childs, ceo.pdfhow you can use hot new...

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[email protected] TravelResearch0 mytravelresearch.comcarolyn-childs-74653ba/

How you can use hot new niches to drive visitation and experienceCarolyn Childs, CEO, Futurist, Strategist, MyTravelResearch.com

LGNSW Tourism Conference 2019

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Ladies and Gentlemen…

The level of competition you are facing these days

is literally stellar

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We are entering

the age of

masstige space

travel

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So how do you stay ahead?

Image @thelazyartist

By understanding the world better than your competitors

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And by exploiting niches that

they haven’t seen

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There’s a lot of talk about big data

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Today we are going to use small data…

And talk macro trends

https://www.marti

nlindstrom.com/s

mall-data/

Today we are

going to use

published data to

talk trends – AND

uncover those

niches

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The secret sauce of future proofing

What’s the best predictor of the future?

Science fiction!

Looking at trends longitudinally,

we can see it is filling Emotional

Gaps – in the right context

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Economic

Social

Technology/

Innovation

MarketingCombined

and Counter Trends

Tourism

Other

7 themes 50+ trends

At MTR, we are watching over 50 trends

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Let’s drill down a little...

Economic

•Uncertainty

• Inequality

•Emerging and Returning markets

•Cycles and Fads vs. Trends

Social

• Generational Change

• Aging Populations

• Ethnic Diversity

• Female Economic Empowerment

• Family Structures

• Conscious Capitalism

• Health and Wellbeing

• Attitudes to work

• Expectation Economy

• Attention Economy

• Experience Economy

Technology/ Innovation

• IoT/Wearables

• AI/ Machine Learning/ Chatbots

• Robots

• VR/AR

• Voice

• Blockchain and Virtual Currencies

Marketing

•Ageless

•Dynamic Pricing

•Micromoments

•Mobilegeddon

•Semantic Search

• Intent Marketing

•The End of Shiny –the Beginning of Shining?

Combined & Counter

•The Sharing Economy

•Hyper-tech vs De-Tech

•Serendipity and Hyper-personalisation

•Ephemerality

•Public vs private

•Post-truth and political branding

Tourism

•Multigenerational Travel

•VFR

•Accessible Travel

•Solo Travel

•New Luxury

•End to end journey

•MICE

•Cruising

•Theme Parks

•Air Travel Reinvented –ULH/LHLCC

•Experiential

•Local

•Infolust/Mapmania

•Overtourism

Other

•Climate Change

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Feeling like this?

First up, you don’t have to use all of the trends!

We’ll just focus on a few

Sources: Bigstockphoto

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We’re used to thinking about Generational cohorts

Source: Barclays Bank quoted in http://somethingbig.co.uk/marketing-to-generation-z/

http://somethingbig.co.uk/marketing-to-generation-z/

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But there’s a seismic shift

Most number of generations travelling at

the same time EVER..

From the Silent Generation to

Generation Z (Centennials)

These generations are now hitting critical

lifestages

Never before have so many marketing

savvy generations changed lifestage at

once

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The tectonic shift: lifestage meets generational cohort

The majority of Baby

Boomers are now ‘seniors’ –

the first Gen Xers will join

them in 3-7 years’ time

Millennials become parents,

managers and the majority of

business travellers

Centennials/Gen Z are

now the Youth Market

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Whilst marketers talk a lot about Millennials let’s remember… Our markets are aging

https://www.aihw.gov.au/reports/older-people/older-australia-at-a-glance/contents/demographics-of-older-australians/australia-s-changing-age-and-gender-profile

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It’s not unique to Australia…..

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In fact it’s spread across many of our key markets….

Source: UN World population projections 2015

https://esa.un.org/unpd/popdev/Profilesofageing2015/index.html

More developed regions High Income Countries

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The wealth that powers the Baby Boomer Generation

25%

53%

Of the AU population

Of AU wealth

http://www.traveller.com.au/how-baby-boomers-are-shaking-the-travel-industry-gx8sp0 sources: McCrindle Research, Brent Green

$120bn Of annual travel

spend in US

“If Baby Boomers were a

country they would be the

third largest economy in the

world”

Bronwyn White, New Young

Consulting

http://www.traveller.com.au/how-baby-boomers-are-shaking-the-travel-industry-gx8sp0

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Pictures copyright: Wikipedia. https://www.lonelyplanet.com/news/2017/07/25/elspeth-beard-travel-around-world-motorcycle/, Helen Fielding/Jonathan Cape, Film posters subject to copyright – do not share

The Spirit that informs the boomer market

This market has disrupted

everything else over it’s lifespan –

it’s going to do the same with retirement

Are you ready for this?

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Baby Boomers: Only call me senior if you are giving me a discount!

I may look like this…but my attitudeis more like this

Statistic sourced via The Futures Company

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Boomers have a different attitude to aging and opportunity

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They still love adventure – and they want INTENSE experiences

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Millennials are moving into a new life stage

From This

To This

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Millennials are growing upFamily traveller

• Upper end of the cohort are having families

• More value conscious adopting a 'trading up, trading down' philosophy.

• Food in particular continues to be a driver for Millennial when they travel - and as parents they are also very conscious of nutritional

choices for their families

• Spent longer than other generations in the family home, therefore attracted to

multigenerational trips (where parents pay!)

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Millennials are growing upBusiness traveller

• Entering the core business traveller market

• Predicted to grow to half of business travel expenditure by 2020.

• Want LOCAL

• Are willing to pay for a superior experience.

• 60% of Millennial business travellers had paid a premium :

• that improves the smoothness of their trip

• that enables them to customize the experience to their personal needs

• or that supports their appetite for technology

• They have also grown up valuing co-operative environments. They want spaces to collaborate and share.

https://www.bcgperspectives.com/content/articles/transportation_travel_tourism_consumer_insight_traveling_with_millennials/https://www.bcgperspectives.com/content/articles/transportation_travel_tourism_consumer_insight_traveling_with_millennials/

This also links to our changing attitudes to work trend

Millennials are powering the bleisure travel revolution

https://www.bcgperspectives.com/content/articles/transportation_travel_tourism_consumer_insight_traveling_with_millennials/

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What does an Australian look like?

http://www.abs.gov.au/ausstats/[email protected]/Lookup/by%20Subject/2071.0~2016~Main%20Features~Cultural%20Diversity%20Data%20Summary~30http://www.abs.gov.au/ausstats/[email protected]/Latestproducts/3412.0Main%20Features42015-16?opendocument&tabname=Summary&prodno=3412.0&issue=2015-16&num=&view=

http://www.abs.gov.au/ausstats/[email protected]/Lookup/by Subject/2071.0~2016~Main Features~Cultural Diversity Data Summary~30

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What does an Australian look like?

http://www.abs.gov.au/ausstats/[email protected]/Latestproducts/3412.0Main%20Features42015-

16?opendocument&tabname=Summary&prodno=3412.0&issue=2015-16&num=&view=http://www.abs.gov.au/ausstats/[email protected]/mf/2024.0http://www.abs.gov.au/ausstats/[email protected]/Lookup/by%20Subject/2071.0~2016~Main%20Features~Cultural%20Diversity%20Data%20Summary~30

In the 2016 Census, 28% of the

Australian population was born

overseas,

BUT

49% of the population was either

born overseas or has at least one

parent who is

What are your points of

connection to these

Australians?

Visit Victoria are targeting this trend via the Your

Happy Space campaign

http://www.abs.gov.au/ausstats/[email protected]/Latestproducts/3412.0Main Features42015-16?opendocument&tabname=Summary&prodno=3412.0&issue=2015-16&num=&view

http://www.abs.gov.au/ausstats/[email protected]/mf/2024.0

http://www.abs.gov.au/ausstats/[email protected]/Lookup/by Subject/2071.0~2016~Main Features~Cultural Diversity Data Summary~30

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Climate change – the trend you will HAVE to design into your experiences

https://www.climatecouncil.org.au/uploads/964cb874391d33dfd85ec959aa4141ff.pdf

Australia is

among the

top five

destinations

most

vulnerable to

climate

change.

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If we are a country of beaches where does that leave us?


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If you are planning for events…

https://www.climatecouncil.org.au/uploads/964cb874391d33dfd85ec959aa4141ff.pdfhttps://www.theguardian.com/environment/2015/feb/09/climate-change-threatens-australia-outdoor-summer-sport

Extreme heat affects visitor

numbers

Reputational risk

Cost of insurance against

extreme events


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It isn’t hopeless! As an industry we can both influence and mitigate this

https://publications.csiro.au/rpr/

download?pid=csiro:EP128341&dsid=DS6

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Inclusive Tourism – one of the biggest emerging opportunities

Visit Britain- the Purple Pound (this designation is why we are using purple so heavily in this report)http://travability.travel/blog-node/understanding-opportunity-australia-accessible-tourismTourism Research Australia, TEVE, TEQ Accessible Tourism in Victoria and Queensland (work done by MyTravelResearch.com

The value of the DOMESTIC ACCESIBLE TOURISM

MARKET IN AUSTRALIA IS $8 billion or around 10% of

domestic tourism spend in the year to January 2017.

Travability has since estimated the value of the inbound

market as $2.8bn

This gives a value for the contribution of Accessible

Tourism to the Australian Visitor Economy as $10.8

billion. That is greater than the $9.1 billion spend by

Chinese tourists inbound to Australia over the same

period.

http://travability.travel/blog-node/understanding-opportunity-australia-accessible-tourism

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Experiential travel – the hot trend that’s at least 3,000 years in the making

http://www.olympia-greece.org/stadium1.htmlhttps://en.wikipedia.org/wiki/Pompeii#/media/File:Pompeii-Street.jpgwww.amazon.com https://www.heraldsun.com.au/news/victoria/hidden-gems-18-places-to-see-in-victoria/news-story/1d3a825f56f5aba8eb256ff5f1039a6b

930 BCE (ish)

776 BCE

629 CE

89 BCE

812 CE

1700-1961 CE

1975 CE

2018 CE

Whenever people have had time or resources to think beyond the

short term they have sought experiences

What’s changed is that we are less prepared to cut back on them when things get tough –

and other industries have entered the experience economy

1999 CE

http://www.olympia-greece.org/stadium1.html

https://en.wikipedia.org/wiki/Pompeii#/media/File:Pompeii-Street.jpg

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Emerging Niche Experiences – Transgressive Tourism (from dark to gross)

http://wolvesmouth.com/blog, http://www.warzonetours.com/, www.lastminute.com,

http://wolvesmouth.com/blog

http://www.warzonetours.com/

http://www.lastminute.com/

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Can we confront our own dark history?

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Emerging Niche Experiences – Counter trend to Enrichment: Is it time to reclaim fly and flop?

http://www.travelhedonism.com/Our-Concepthttps://edition.cnn.com/2017/09/12/health/hedonism-partner/index.html

http://www.travelhedonism.com/Our-Concept

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Emerging Niches – Goodbye Voluntourism, Hello Philanthrotourism

http://www.reliefridersinternational.com/letter_2016_09.php Professor Beeton is developing a typology for philanthrotourism

http://www.reliefridersinternational.com/letter_2016_09.php

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Emerging Niches – “Authentic” experiences and the Theme Park Reimagined

Sources: https://disneyparks.disney.go.com/blog/2018/01/9-things-we-know-about-star-wars-galaxys-edge-at-walt-disney-world-so-far/

https://www.huffingtonpost.com.au/entry/banksy-dismaland_us_579cad7be4b0e2e15eb6172a

https://disneyparks.disney.go.com/blog/2018/01/9-things-we-know-about-star-wars-galaxys-edge-at-walt-disney-world-so-far/

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Emerging Niches: Religious Tourism

http://www.tourismandmore.com/tidbits/the-importance-of-the-religious-tourism-market/ , Source JWT 100 2017Hillsong Summerfest Page on Facebook

https://www.slideshare.net/EzzedineGHLAMALLAH/state-of-the-global-islamic-economy-20172018

25% of US travellers say they are interested in faith-based tourism

Thomson Reuters predict halal travel will be worth $283bn by 2022 – with food a major part of

this

Religious meetings and conferences are great business

Religious tourism is potentially more recession resistant

http://www.tourismandmore.com/tidbits/the-importance-of-the-religious-tourism-market/

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Emerging Niches – the ultimate unique: Ephemeral

Sources: Resonance The Future of Luxury Travel 2016, Trendwatching, the Glastonbury Festival, Virtuoso Luxury Travel Report

In 2016 Virtuoso noted that the top 5

destinations that are endangered or

about to change:

Cuba

Antarctica

Great Barrier Reef

Venice

The Arctic

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Emerging niches connect – Ephemeral meets hedonistic

http://www.travelweekly.com.au/article/can-eat-ice-cream-hotel-opens-finland/

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A 4-step process to apply the trends

The Apply Toolkit walks you through the complete trend-led innovation process

Know

• Understand the key trends

• Doesn’t have to be all at once!

• Know your target customer

Focus

• Apply the 3-step test

• Shortlist your trends

Apply

• Once you have selected your trends, use the MTR trends canvas

• Complete this for major trends

Do

• Develop your plan

Know

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The 3 step test

Pick me!

Relevance

Emotion

Uniqueness

Focus

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1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

Now you are ready to take this top ten and apply it to our Trend Canvas

Repeat canvas for each trend

Focus

How do I future proof my experience using trends ? Compile your own top ten list

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The MyTravelResearch.com Tourism Trends Canvas

Trend:

Who does it apply to?

What needs does it fill?

Functional* Emotional*

Who has applied it well?

How do we apply it in a way that makes us unique?

Short term (now/easy) Longer term (plan/developDeveloped based on the TrendwatchingTrends Canvas

Apply

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Example: The MyTravelResearch.com Tourism Trends Canvas

Trend:

Who does it apply to?

What needs does it fill?

Functional* Emotional*

Who has applied it well?

How do we apply it in a way that makes us unique?

Short term (now/easy) Longer term (plan/develop

Apply

Accessible Travel

Seniors, multigenerational travellers, travellers with disabilities, people with impairments andTravelling companions, those with activity limiiting disabilities, health problems, cognitive

FreedomSelf Respect

Rejuvenation

Adequate disabled parking spaces

Wheelchair accessible walkways in parks

Venice – Accessible GondolasUK in general

10 exciting activities ANYONE can doInformation and marketing - move accessible tourism to top level on website, imagesCustomer service / training

Physical facilities. Entrance ramps, guestrooms, bathrooms/toilets, ramps, dining and bars, paths of accessWheelchair sports eventsAccessible adventure park

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How do I future proof my experience using trends ? (2)

Are you

a ‘Purple

Cow’…?

An Isaac

Newton…?

For most people, it’s most profitable to be an Isaac

Newton, but there is no

shame in being a Stephen

Bradbury

Or a

Stephen

Bradbury…?

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Try pulling yourself out of the every day

Sources: (Rick Antonson at World Café G20 in Brisbane) www.cathedralthinking.comImage Big Stock Photohttps://www.facebook.com/bttfseries/

Cathedral

thinking By going …

http://www.cathedralthinking.com/

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congue massa. Fusce posuere, magna sed pulvinar ultricies, purus lectus malesuada

libero, sit amet commodo magna eros quis urna.

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THANK [email protected] TravelResearch0 mytravelresearch.comcarolyn-childs-74653ba/

If you didn’t make an appointment to see me, email

me for a chance to win a

Trends Apply workshop worth

worth at least $5,000*

* Prize excludes travel costs

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