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Medallia: 61% of consumers willing to spend more for personalized experiences

Hotel Business

has released the findings of its new research report, Understanding Personalization Efforts in the Hotel and Retail Industries. The study found a strong link between personalization and overall satisfaction, validating earlier research that showed 61% of consumers are willing to spend more with companies if they offer a customized experience.

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The Most Effective Ways to Use Psychology in Marketing

Social Hospitality

Marketing is an intricate dance between businesses and consumers, where success often hinges on understanding and influencing human behavior. Psychology plays a pivotal role in this dynamic, as it enables marketers to delve into the minds of their target audience, tap into their emotions, and drive desired actions.

Market 278
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Best Practices for Data-Driven Marketing

Social Hospitality

Let’s face it: today’s market is more crowded and competitive than ever before. The advent of e-commerce, for example, has expanded possibilities for consumers. And that means businesses no longer only compete with local retailers and the Big Box store on the corner for their fair market share. But it doesn’t just happen.

Market 162
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As the Luxury Market Softens Brands and Retailers Could Turn to Younger Generations and International Travelers in Search of Growth

Hotel News Resource

As sales of luxury goods soften following a pandemic-era surge, with core consumers now cutting back on their spending, luxury brands and retailers will have to work harder for growth and look for new opportunities

Retail 45
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Hotels can take a page from retail to beat the competition

Hotel Business

Where the retail sector could reinvent itself as “digital-first” through new services like eCommerce, curbside pickup or repurposing physical stores as socially distanced distribution centers, the travel sector, by its nature, relies on physical footfall. Consumers are also becoming more informed and empowered. By James Brooke.

Retail 59
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22 Tailored Digital Marketing Strategies for Luxury Brands

MediaBoom

A recent Statista report forecasts that by 2025, over ten percent of all retail sales in the United States will stem from mobile commerce, underscoring the critical need for luxury brands to innovate their digital marketing strategies.

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Luxury Marketing – The Ultimate Guide to Elevate Your Brand

MediaBoom

Luxury marketing isn’t rocket science. At its core, luxury marketing is a specialized target approach for high-end goods and services aimed at affluent consumers seeking a sense of exclusivity. So, how can you compete with the top brands in the affluent market and stay ahead of the competition? Well, not exactly.