“We usually call it the ‘paradox of choice’ when everybody wants selection but, if you put too much selection in front of them, then they get overwhelmed. They defer the decision for later which is, of course, a risk then for people churning.”
One of the industries most impacted by the pandemic was travel, and while leisure travel has rebounded in many parts of the world, how companies and employees see business travel has undergone a change as a result of multiple overarching trends.
In this week’s episode of the podcast, Philip Ideson interviews Martin Biermann, Chief Product Officer at the HRS Group. HRS is a global tech company with a focus on business travel and one of the top hotel travel partners in the world.
Martin and his team are keeping a close eye on the megatrends affecting business travel today, looking for ways to optimize travel spend while protecting traveler safety and experience.
In particular they focus on:
- Why leaders of corporate programs such as risk management and ESG/sustainability that are taking a closer look at business travel
- Why traditional hotel booking methods fail to leverage available data on security, sustainability, safety, and satisfaction
- How AI can be applied to reduce the ‘paradox of choice’ during the purchase decision making process