Attribute Based Shopping - A blessing or a bane?
— 11 experts shared their view
While attribute based shopping has been discussed for over 10 years, the level of noise about its application for the hotel industry has significantly increased in the last 18 months. After significant investment in new systems and technology, companies like IHG are tipping their toes in the ABS waters. While some tout the great benefits (and revenues) expected by offering customers more choice, others take a more cautious approach, questioning the expected benefits and ROI. What is your take on ABS, will it do what it did for the Airline industry - boost ancillary revenues, or will it be the "3D TV" of Hotel Technology.
Adjunct Professor NYU Tisch Center for Hospitality and Hospitality & Online Travel Tech Consultant
Attribute Based Shopping (ABS) is a good start, but I believe One-to-One Pricing, powered by AI will be the absolute winner for both travel consumers and hoteliers. ABS is already a departure from the current revenue management one-to-many pricing approach, but 1to1 Pricing will take this to an entirely different level.
One-to-One Pricing and AI will allow hoteliers to automatically personalize pricing and product offering to the individual customer level and take into consideration dynamic factors such as customer's preferences, browsing behavior, influencer status, “intent to purchase” intensity, and of course the more mundane factors like RFM value, loyalty member status, past booking history and demographics.