Trend Analysis is the practice of collecting information and attempting to spot a pattern, or trend, in the information.
Each organisation will have their own way to collect and analyse information to determine which products and services are not only popular and in demand now, but will also be in the foreseeable future.
Any hospitality manager must not only understand current trends but also try to predict future trends that may impact on the existing market or potential markets in the future.
Every organisation will have its own ideas as to what is the ‘next big thing’ customers want.
Regardless of what trends may indicate, you must be able to produce a product or service that is seen as modern, fresh, innovative but more importantly, of ‘value’.
It is important to remember customers will decide what they want to spend money on. The business itself may have ideas what they consider to be in trend.
One good way to see if a product or service is ‘trendy’ is to see its popularity in other hotels or hospitality organisations. If a number of hotels are doing it and it is working, then obviously it is popular at this time.
Trend Analysis is the practice of collecting information and attempting to spot a pattern, or trend, in the information.Each organisation will have their own way to collect and analyse information to determine which products and services are not only popular and in demand now, but will also be in the foreseeable future.Any hospitality manager must not only understand current trends but also try to predict future trends that may impact on the existing market or potential markets in the future.Every organisation will have its own ideas as to what is the ‘next big thing’ customers want.Regardless of what trends may indicate, you must be able to produce a product or service that is seen as modern, fresh, innovative but more importantly, of ‘value’.It is important to remember customers will decide what they want to spend money on. The business itself may have ideas what they consider to be in trend.One good way to see if a product or service is ‘trendy’ is to see its popularity in other hotels or hospitality organisations. If a number of hotels are doing it and it is working, then obviously it is popular at this time.
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