3. Industry Analysis
3.1 Rapid growth of economic climate
To further increase economic co-operation between Hong Kong and the mainland, the Individual Visit Scheme was started on 28 July 2003, which allows travelers from some cities in mainland China to visit Hong Kong without an accompanying tour group. As a result, the tourism industry in Hong Kong is booming due to an exponential increase in the number of visitors from mainland China. The upsurge is also boosted by the recent opening of Hong Kong Disneyland Resort
3.2 Target customers segmentation
Target Customers
A number of target segments can be included for Disney Store such as family with children, teenagers and fans of Disney. As family with children is one of the major target customers, it is better to focus on this group for analysis. It is because family with children is a higher potential market and it is difficult to capture all target segments at once time. Moreover, three aspects will be focus in analyzing this major target customer i.e. customers’ profile, target market analysis and shopping habits.
Customers’ Profile
The aim of this part is to find out the features of this major target customer. The sample size of the questionnaire is 100. Also, three aspects are focused in the questionnaire i.e. gender, age group and occupation.
i) Gender
From figure 1, it shows that female interviewee occupied a higher percentage than that of male interviewee i.e. near 60% of interviewee are female and only 39% of them are male.
Figure 1 – Gender
ii) Age Group
Based on the result in figure 2, it reflects that over 80% of the customers for Disney Store age between 28 to 47 years old. In addition, around half of them age between 28 to 37 years old.
Figure 2 – Age Group
iii) Occupation
There are altogether 5 different types of job for the part of occupation i.e. white collar, blue collar, housewife, self-employed and unemployed. From figure 3, it shows that most interviewees are white collar and it occupied 40% of the total percentage.
Figure 3 – Occupation
3.3 Buying behavioral trends
The main purpose of this part is to find out the shopping behavior of the major target customer. As the same as the above parts, the sample size is 100. Also, two aspects are focused in the questionnaire i.e. frequency for visit Disney Store per month and average time for spending in Disney Store.
i) Frequency for Visit Disney Store per Month
From figure 4, most respondents had visited Disney Store for one to two times per month and it occupied over 50% of the total percentage. However, near 30% of them had visited Disney Store less than one time per month.
Figure 4 – Frequency for Visit Disney Store per Month
ii) Average Time for Spending in Disney Store
Based on the result in figure 5, it reflects that over 40% of the respondents spent about 6 to 15 minutes when they entered into Disney Store. However, only 8% of them spent more than 30 minutes for staying in Disney Store.
Figure 5 – Average Time for Spending in Disney Store
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3.4 Forecasted market situation
The aim of this part is to trace out the deeper understanding on this major target customer. The sample size of the questionnaire is 100. Moreover, four aspects are focused in the questionnaire i.e. family size, monthly consumption on toys, monthly consumption on clothing and monthly consumption on stationery or gift items.
i) Family Size
From figure 6, it shows that above 80% of the respondents with one to two children in their family. Moreover, the total percentage of family with three or four children is only 12%.
Figure 6 – Family Size
ii) Monthly Consumption on Toys
Based on the result in figure 7, it reflects that over 60% of the respondents for Disney Store mainly spend 1 or above on toys. In addition, 40% of them regularly spend around 1 or above on this category.
Figure 7 – Monthly Consumption on Toys
iii) Monthly Consumption on Clothing
The result for this part is similar with that for the toys. As around 70% of the respondents mainly spend 1 or above on toys. Furthermore, near half of them regularly spend around 1 or above on this category.
Figure 8 – Monthly Consumption on Clothing
iv) Monthly Consumption on Stationery or Gift Items
For the monthly consumption on stationery or gift items, the result is quite different with that of toys and clothing. Based on the result of figure 9, over half of the respondents only willing to spend 0 or below for stationery or gift items each month and they are less willing to buy this as regular as toys or clothing for their children.
Figure 9 – Monthly Consumption on Stationery or Gift Items
Credit:ivythesis.typepad.com
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