The Biggest Threat Facing The Hospitality Sector
To avoid becoming a victim of today’s technologically advanced times, established brands must enhance the user experience
In today's competitive consumer-facing landscape, customers now have more power and options than ever before - and this is levelling the playing field. For every clothing brand, there's hundreds of other labels; for every hotel, there's another twenty that guests can stay in. Now, hospitality brands - ranging from hotels to food and beverage establishments - are under huge pressure to keep innovating in order to remain relevant in today's market.
Challenger brands that previously couldn't compete on size are now focusing on customer-centric experiences as their business differentiator - which is helping these firms increase sales in a challenging market. In revolutionising customer service and improving the user experience, they are improving their chances of taking market share from older, legacy brands that haven't yet embraced a fully digital and immersive business model. As the market toughens, these legacy brands will ultimately risk being left behind.
To avoid becoming a victim of today's technologically advanced times, established brands must enhance the user experience by embracing digital transformation innovations such as Augmented Reality (AR) and Artificial Intelligence (AI) to improve their offering and increase profits and brand loyalty.
