Newfoundland and Labrador Product Development Strategy

- 8 -PReplace the 4 Ps with the 4 Rs• Relationships Service Experience• Retrenchment Technology Convenience• Relevancy The Product Expertise• Rewards Time Statureo Over half of the baby boomers are seriously considering slowing down the pace of theirlife; and consumers generally are concerned that they don’t have enough vacation time.One impact of the time poverty on travel is a continuing increase in more shorter getawaytrips. As well, travellers are particularly concerned about the experiences they have ontheir trip – they are seeking something different and unique, not the ‘same old, same old’.o There is more demand for different destinations – once in a lifetime trips; longer and moreexpensive trips – as people in their 50s and 60s start to think about going to places /doingthings they have dreamed about, and seeking out unique and memorable experiences.o Recent world events have created a renewed dedication to family. And family-relatedtravel is on the rise – including three generations travelling together, grand travel, etc. Tocapitalize on this trend, destinations need to be family friendly – this needs to be reflectedin things such as the size of facilities, availability of recreational activities, security,simplicity of planning, flexibility in arrangements. Travel involving an ‘emotionalconnection’ is also popular, such as trips that involve heritage, family roots, romance, andpatriotic sites.o Price is critical but value will win customers back; repeat customers want recognition,customization and service – they want to be treated in a special way. Customization oftravel experiences is becoming increasingly important to consumers who wantexperiences that meet their needs.o There is more travel closer to home, a much greater concern about safety and securitywhile travelling and, as a result, a resurgence in driving trips, particularly within the USmarket. As well, Canadians appear to be taking more and more advantage of the new lowcost air travel regime in the country.o Concern about world events, as well as time pressures are resulting in shorter lead times inbooking trips, and more last minute bookings with special promotions helping to generatedemand, particularly in the shoulder and off seasons.o Experiences that do not damage the natural environment are increasingly popular – 75% +of Americans believe it is important that their visit not damage the environment; 62% sayit is important to learn about other cultures when they travel. This concern extends to thepreservation of heritage and culture as well. 61% of US travellers believe that theirexperience is better when the destination preserves its natural, historic and cultural site;41% say their vacation experience is better when they can see and do something authentic.THE ECONOMIC PLANNING GROUP of Canada Newfoundland & Labrador Tourism Product DevelopmentD. W. Knight Associates Strategy and Accommodation Needs Study