Tagged: market research

Industry research: Hotel industry

Have you heard of “braggies”??

I came across the term in a report on global travel trends. Apparently hotel chains are rewarding guests who share their “braggies” on social media– “braggies” are usually pictures taken from a hotel window to show off the views, or pictures of the room and amenities, which are shared within minutes of checking in. Some hotel chains are rewarding “braggie” posters with room upgrades or mini-bar credits.

A riff on the selfie, braggies are being used as promotional tools for hotels. This got me thinking about what other trends are going on in the industry? Are Airbnb and other peer-to-peer accommodation sites having an effect on the industry? What about the industry in the Okanagan, or Kelowna? Here is a brief breakdown on how you might start researching the industry, with both library resources and free online resources.

As I would start any type of research, my usual thoughts go to: who would gather information on this topic, and who would publish it? You could start with a search online, but spending a few minutes thinking about and researching associations or research groups who deal directly with an industry can save you time. Instead of weeding through pages of irrelevant information, try going right to ‘those in the know’.

In terms of library resources, my thoughts go to our subscription database, Passport. Passport contains industry and company reports and statistics about consumer products such as drinks (alcoholic, soft, hot), appliances, beauty products, pet care, and also services such as finance, foodservice, and travel and tourism. I know they have trend reports on the travel industry, as well as information about the travel industry in Canada and other countries. The first thing I see when I click on the Travel and Tourism link is an article called “Millennials – A New Breed of Travelers”. Interesting– this post provides more details on the impact of millennials (those born between 1981 and 1990) on the travel industry, including information on social media and the importance of being connected (bringing us back to that “braggie” trend). I haven’t even got to the in-depth industry reports and I’ve already spied on the first page a videocast on the travel sharing economy (Airbnb, Uber) and an infographic on consumer spending increases on hotel bookings due to online booking systems. More traditional reports include Travel Accommodation in Canada, World Travel Market Trends Report (which has information on trends such as “braggies” and “poshtels”), and reports on Airbnb and various global hotel chains.

Other databases like Business Source Complete and ABI/Inform will have reports on the hotel industry written by market research firms, as well as articles in trade publications discussing trends and current events from those who work in the industry. It’s good to get views from inside and outside the industry for a more rounded look. For example in Business Sources Complete I can find reports by searching for: hotel industry, and then limiting to industry reports:

Marketline. (2014). Global Hotels, Resorts & Cruise Lines: Industry Profile. Retrieved from http://marketline.com

Marketline. (2014). Hotels & Motels Industry Profile: Canada. Retrieved from http://marketline.com

I would also try a search for hotel trends, or travel trends, and limit to trade publications and magazines, to see what those in the industry are talking about, on a global or local scale.

So those are a few examples of what library databases can help find… what about free resources online?

I would check out industry associations for more information, as they are likely to distribute information for their members, and often have reports available on their websites. For example, the BC Hotel Association has some statistics on international visitors to BC, as well as links to recent news on the industry (I see an article on “Li-Fi”, smart coffee makers, and other new tech trends in the industry), and their own online magazine with trends affecting BC hotels (with articles like: “Targeting Business Travellers”).

Other industry associations:

Hotel Association of Canada

American Hotel and Lodging Association

Destination BC (great reports on tourism in BC by region, market, activity, and travel motivations)

Go2

And check out the library research guide for Tourism, which has more information on finding stats and resources related to travel and tourism. The Data & Statistics tab has links to various BC and Canadian Government sources for finding information on tourism, such as room revenue statistics for BC and tourism indicators.

Now I want to go check into a poshtel, connect to the Li-Fi, and post a braggie…

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Resource Spotlight: Passport GMID

If you’re looking for industry information, such as forecast growth in a certain market (would you be surprised to learn that a country in the Middle East has one of the highest forecast growths in the beer market? Though you might want to dig a bit deeper to check out what kind of beer…), Passport GMID is a great tool available through the Library.

It can help you answer questions such as:

  • Which brands have the highest share of the coffee market in Canada?
  • What is the sales distribution format for contact lenses in Canada (percentage of online vs. store-based retailing)?
  • Which companies rank the highest in the global consumer health market?

If you haven’t yet checked out Passport, please do. If you have, you might be interested to know that we have more statistics and analysis than ever, due to a subscription change. Try out the dashboards, which provide quick visualizations of certain industries in a geographic context, including forecast growth, market size, and company information. If you’re looking for data on fast-moving consumer goods, specific industries, or company shares, this database has a wealth of information.

Bonuses include being able to download many charts/maps/graphs into PowerPoint slides for presentations.

Check out the Alcoholic Drinks or Consumer Health dashboards, reports such as Contact lenses in Canada and Coffee in Canada, and much more in Passport GMID!

 

Open and free access to Canadian statistics

Statistics Canada recently opened up their CANSIM data to public, making it freely available, under the Statistics Canada Open License Agreement. OC Library is transitioning from its subscription version of CANSIM to the publicly available database. You’ll notice that all CANSIM links in Library resources now point to the publicly available database.

Visit OC Library’s Data & Statistics guide to see how CANSIM data can support your business-related research.

In other Canadian statistical news, Statistics Canada will cancel E-STAT effective June 30, 2012. It will remain accessible until June 30, 2013.

New business research tool

Start your research with a search tool designed specifically for business researchers, brought to you by OC Library’s search engine, OCtopus.

The OCtopus business resources search box targets business-specific electronic resources, including Business Source Complete, Hospitality & Tourism Complete, Science Direct, and more, as well as OC Library’s catalogue.

The business search box can be found on the front page of all business subject and course guides.

What is OCtopus? OCtopus provides a single search box that allows users to simultaneously search for books, audio-visual materials, journal articles, journals, and other resources contained in many of the Library’s databases. Results are returned in a single, relevency ranked list of resources. OCtopus is also known as Ebsco Discovery Service (EDS).

Visit Library Search Engine:FAQs for more information.

Passport GMID name & content change

On Wednesday, February 15, OC Library will migrate from Passport GMID to Passport Reference & Markets. Passport Reference & Markets provides consumer market performance trends and drivers at the industry level. The interface will remain the same, but users will notice some content changes.

Reference & Market’s level of content  is similar to Passport GMID, however sector level data and information will be embedded in industry market reports and individual sector level reports will no longer be available. For example, if you are researching beer (a sector of alcoholic drinks) in Canada, navigate to the Alcoholic Drinks in Canada industry report.

Reference & Markets will include increased industry coverage from  52 to 80 countries and additional country analysis, such as Business Environment, Country Pulse, and Future Demographics Reports. As before, country and consumer statistics will be available, including demographic and macro-economic statistics for 205 countries.

Reference & Markets remains one of OC Library’s top resources for international markets and fast-moving consumer goods research.

Questions? Just ask! Contact BUAD Liaison Librarian, Leanna Jantzi.

ABI/Inform research guide

ProQuest has set up a new guide to help you  learn all about searching ABI/INFORM on the its new platform.

View the guide at: http://prq.st/ABILibGuide

The guide includes tips on searching, information on ABI/INFORM’s thesaurus, tips on managing results, and more.

BUAD researchers may be especially interested in the Data & Reports Search tips, which highlights how to search for reports and other published materials with data on companies, industries, and markets.

For more information on how to search OC Library databases, visit the reference desk at your OC campus Library.

Market research tips

In a recent article on Huffington Post, Librarian and market research expert Mary Phelps has some great tips for those looking to start up a business or expand their business. While she’s speaking in the American context, the advice remains the same: do your research!