External Environmental Scan: Regional Demographics

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External Environmental Scan
Regional Demographics
Man Lee Oriental Food and Gift shop located in Terminal Avenue, their main customers are Asian students and people live in Nanaimo city. According to BC Stats and Statistics Canada, the regional population estimate for 2011 was 86,961. This represents an increase of 5497(6.6 percent) in five years from 20071. BC Stats also states that international migration accounted for over 66 percent of the increased BC population2, and a large part of that gain (71 percent) was from Asian countries3. The increasing in population as well as immigration is expected to continue in the coming years. Population is not the only factor that increasing. The median age for the regional population has increased over years and is expected to approach 45 by 2026. The mature labor force age population markedly increased over the last two decades, based on the influence of migration. The percentage of people aged 65+ in the population is also expected to rise. This reflects the popularity of Vancouver Island as a retirement destination. However, the proportion of people in the 5-17 and 18-24 age group is predicted to stay stabilize in the period to 20364. The increasing in population, especially Asian immigrants is opening an opportunities for Man Lee to develop and increase sales. Sociocultural Factors

There is a large community of Asian people in Nanaimo, especially Chinese. These people have different style of food and house decorations from North American. In addition, Nanaimo’s residents also show a high interest in Asian food. This brings chances for Asian grocery shops to increase the market share and profit by providing the unique Asian products. People are having more concerns about their health, therefore, foods nowadays not only need to be delicious but also healthy, organic, fresh and vegetarian products are preferred. This might bring some threats to imported Asian foods which are often frozen. Provincial and National...
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