behavioral economics

/Tag: behavioral economics

behavioral economics

5 Ways Hotels Can Use Behavioral Economics to Improve Conversion Rates

Gautam Lulla | December 20, 2017

By Gautam Lulla Understanding the rationale behind consumer decision-making has long been an obsession for marketers. Popularized today as behavioral economics, brands such as Amazon and Netflix invest millions into understanding the psychology of their consumers shopping habits in order to drive purchases. In the travel industry, OTAs also build their platforms around principles of buying psychology to boost conversion rates. Yet far from being a secret or expensive investment, many of these same principles can be applied by hotels. In the following post, we'll look at 5 ways hotels can use behavioral economics with actionable examples...

As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.