Trends & Insights
‘Travel Experience Voices’ – The data-sharing challenge
The ‘Travel Experience Voices’ report underlines how data sharing is recognised as a potential performance booster, especially in supporting shared strategies and business goals.
Lagardère Travel Retail presents a vision of what might be possible if industry agendas are aligned.
“Imagine stepping into a store where every offer or promotion feels perfectly tailored to your preferences or buying habits. By sharing and carefully analysing customer data, retailers have the power to deliver tailor-made customer experiences, elevating the shopping journey to new levels and leaving the customer coming back for more.”
Airports and brands said they face challenges in the implementation of data-sharing models across the industry, with GDPR, compliance laws and regulations representing the main hurdle.
Meanwhile a perhaps surprisingly low 56% of those surveyed said they would consider data partnerships to increase knowledge of the consumer.
The report notes: “For data sharing to be mutually beneficial, it’s essential that all involved reach a consensus on its purpose and use. A cultural shift towards a mindset that values data sharing and its role in informing business decisions needs consideration.”
Offering an external perspective, notably on the power of technology, Armilla Head of AI Products & Insurance Jerry Gupta says: “Becoming a data-driven organisation entails a cultural shift where data is not just viewed as a by-product of operations but as a strategic asset that drives growth and innovation. This transformation requires commitment from leadership to foster a data-centric mindset throughout the organisation.”
He adds: “By embracing a data-driven culture, aligning analytics initiatives with business objectives, and prioritising data privacy and ethics, organisations can harness the full potential of data to gain a competitive edge and thrive in an increasingly complex and dynamic business environment.”
Lagardère Travel Retail Asia COO and Global Chief Strategy and Development Officer Séverine Lanthier says: ““Data is a key pillar of our strategy and it is one we continue to strengthen as we seek to better know and serve our customers.
“Based on the survey, we are not there yet. Only 56% of those who responded are willing to consider implementing data-sharing models. At just over half that strikes me as relatively low when we know how important data-sharing is.
“It seems that everyone is busy managing their own data needs and are maybe not ready for sharing or interfacing. There is the question of alignment technologically, of data governance and for airports understanding how they can create value for themselves and for the industry. Many organisations are strengthening their data capability, but mostly internally – sharing and aligning ourselves better is the next step.
“Our intent should about growing the pie, not just sharing the pie. But what this does show is that we are coming from a low base on data-sharing, which means there is a lot of potential.”
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The Moodie Davitt eZine
Issue 334 | 12 May 2024
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