Five Ways Hospitality Businesses in Singapore can Attract New Customers

Back to Blogs

Each year, the global traveler pool is flooded with millions of new consumers from both emerging and developed markets, many with rising disposable incomes and a newfound ability to experience the world. 

Continue reading

In fact, travel and tourism is one of the world's fastest-growing sectors. Bookings hit close to $1.6 trillion in 2017, driven by factors such as decreasing airline fares, a healthy market for corporate travel and a growing demand for experiences rather than just products. 

Singapore is also benefiting from this boom in travel and tourism. For 2018, The Singapore Tourism board projects visitor arrivals to rise by 1-4 per cent, and tourism spend by 1-3 per cent. The sector registered record highs in tourism spend and visitor arrivals during 2017 and according to recent statistics, Singapore welcomed 17.4 million visitors who spent S$26.8 billion just last year . This has led to Singapore's Ministry of Trade and Industry pinpointing tourism as a crucial pillar of Singapore's economy and GDP .

Five Ways Hospitality Businesses in Singapore can Attract New CustomersLocally, there are already initiatives in place to support the sector. The Singapore Tourism Board have been allocating an extra S$ 700 million to the Tourism Development Fund to support product development and technology adoption to boost productivity.  With the investment added, this will ensure that Singapore's tourism landscape remains innovative and attractive to visitors especially for local businesses around the region.

Nonetheless, hospitality businesses are not finding it easy. Growing competition and a need to keep efficiencies up means hotels, restaurants and other hospitality firms are up against a multitude of challenges. Here's how they can attract new customers in this complex landscape:

  1. Know your customers
    In a world where consumers have more choice than ever before, personalization has never been more important. Businesses today must be able to deliver a personal experience to each and every customer that walks through their door, by using the data they collect, to generate insights and help shape the customer experience.
  2. Stay on trend
    Related to personalization, it is also important that hotels and restaurants are able to respond to changing customer preferences. From regional differences, to wider social crazes, and optimizing services for different times of the year, using data analytics to keep on track of customer trends is vital.
  3. Make the experience local
    Over the coming months and years, hospitality businesses will increasingly find themselves having to think global, yet act local. This involve a combination of optimizing day-to-day operations and looking at the bigger picture to identify new opportunities. In both instances, software will be a key component.
  4. Manage the supply chain effectively
    Expenses such as food costs can be highly dynamic, depending on a range of factors such as the availability of ingredients, currency fluctuations and changes to shipping costs. Analyzing these trends in real-time is therefore essential to managing the supply chain and improving cost-efficiencies.
  5. Embrace IoT technologies
    The Internet of Things (IoT) is set to play a key role in transforming the hospitality sector. By using connected devices to change how they gather data, and how they engage with users, businesses can make services more intelligent and improve the customer experience they offer. Perhaps the most obvious example is in-room connected thermostats, but the full range of possibilities is practically limitless.

Enterprise resource planning (ERP) solutions can play a crucial role in addressing all five of these areas. They can enable hospitality businesses in Singapore to work in a smarter, more efficient way, enabling them to innovate with technology while also keeping costs under control. For example, one of the major players in the hotel industry, Hotel Indonesia Kempinski, transformed their operations by using technology to better streamline business process and enable growth. By embracing technology such as ERP solutions, Singapore businesses can lead the way in providing an excellent customer service, attracting new customers and ultimately grow their businesses. 

Vincent Tang Regional VP Epicor Asia_ Vincent Tang is the regional VP at Epicor Asia. Connect with Vincent on LinkedIn.

Connect With Epicor

Tell us about your unique goals and challenges so we can show you why Epicor software is a better fit. Contact us by phone, chat, or email. If you’re an existing customer, please log in to EpicCare.

Chat Email Call