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How big is Black Friday's effects and potential for hotels?

Hotels now offer substantial discounts during Black Friday and Cyber Monday, generating a spike in bookings and sales.

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📈Top Story

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[Phocuswire] BLACK FRIDAY IMPACT: NAVIGATING TRAVEL TRENDS

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Black Friday and Cyber Monday have evolved into global shopping events, significantly impacting the travel industry. Hotels now offer substantial discounts during these periods, generating a spike in bookings and sales.

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During the pandemic, Black Friday sales took a hit due to lockdowns and Covid virus variants, causing a decrease in consumer spending.

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The data from more than 250 international brands shows a fluctuating trend in Black Friday sales over the years. In 2019, sales reached 1 million euros, but in 2020, they dropped to 600 thousand euros. There was a slight increase in 2021, and in 2022, sales climbed back to 900 thousand euros, though the sales volume was still 31% lower than in 2019.

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Cyber Monday followed a similar pattern, with a significant drop in 2020, a modest increase in 2021, and a recovery in 2022. Cyber Week also experienced a decline in sales in 2020, with a slight rebound in 2021 and a more substantial revival in 2022.

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The data highlights the potential of these shopping events for market share gains and sales. Also, post-Black Friday analysis is crucial to help businesses ensure ongoing success in these key sales periods.

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💡Tech Trends

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[Phocuswire] DESTINATIONS WEIGH UP IMPACT OF AI

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According to Sojern's State of Destination Marketing 2024 report, destination marketing experts anticipate artificial intelligence will significantly influence the sector.

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Nearly half of the destination marketing organizations surveyed expect AI to have a considerable impact. Specifically, they see AI playing a major role in content creation, personalization, campaign creation, optimization, and data analysis.

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The report also highlights current trends in DMO marketing, noting that 20-40% of budgets are allocated for content creation, with the majority going towards paid marketing. In terms of paid media, search and social media marketing are predominant, with most DMOs recognizing the high importance of social media advertising and search.

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Data is viewed as a crucial resource, with about half of the respondents citing it as essential for marketing planning and campaign reporting. However, challenges such as data integration across channels, high data acquisition costs, and limited access to quality data are significant concerns for these organizations.

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