Mr. Kevin Lee
CEO of Sparkle Limited
Ms. Mary Chan
Sales manager for Sparkle Limited
February 18, 201
Date: February 10, 2011
To: Mr. Kevin Lee, CEO, Sparkle Ltd.
From: Ms. Mary Chan, Sales manager, Sparkle Ltd
Subject: Report about Jewellery Industry in Hong Kong
The attached report, requested by you dated Jan 5, analyze the current business opportunities in jewelley industry in Hong Kong and also the possibility of establishing a retail jewellery shop in Hong Kong. I hope you will find the results of this report beneficial in making the decision of setting up a new retail store in Hong Kong.
The purpose of the report was designed to investigate the below areas: 1. Opportunities of in Hong Kong’s jewellery trade
2. Feasibility of Sparkle Ltd to open a new retail store in Hong Kong.
The scope of the report mainly focuses on the following areas: 1. Economic environment in Hong Kong
2. Our major competitors review
3. Demand of jewellery industry in Hong Kong
Secondary research included the annual sales report of our main competitors, government publications, information from Hong Kong Jewellery Association, books and online references. A more comprehensive analysis in each area is given and conclusions are drawn.
Sparkle Ltd. is always a company with good reputation in exporting and manufacturing jewellery overseas. The positive and supportive results are indicated by this report and I hope it would be helpful for you to decide whether to expand new business in Hong Kong. I would be grateful to discuss this report in depth with you at your convenience and request.
Table of contents
1. Executive Summary
3. Scope of study
5. Findings & Analysis
5.2Competition in Hong Kong Jewellery Industry
5.2.1 Traditional brand
5.2.3 New brands
5.3Consumers review in Hong Kong Jewellery Industry
8. Sources of data
1. Executive Summary
This report, authorized by M. Lee, aims at looking into the possibility of opening a new retail store in Hong Kong. It is limited to the following areas, consumers and competitors review and economic environment. Secondary research is conducted, like research report and online resources were collected in this report. It was found that under our financial constraints, it is feasible and profitable to introduce a new retail shop in Hong Kong market due to improving economic situation, increasing customers buying incentive and demand from mainland china and also local customers. In order to make a success in the introduction, we recommend the company opens a new retail shop in Tsim Sha Tsui because of favorable location which can attract customer flow. Also, we suggest the company uses undifferentiated marketing strategies to serve all types of customers as their behavior are not too distinct and different. Besides, it is very costly to use several marketing strategies for each type of markets and it is not necessary to spend money on it.
This study shows a practical outline of jewellery trade in Hong Kong. The facts and statistic would help you in deciding whether to expand our company into Hong Kong jewellery market.
Hong Kong’s economy is recovering during recent years after economic tsunami in 2008. Also, jewellery market is growing faster and drastic as more Hong Kong people and tourists are in favor of buying luxurious and delicate jewelleries. In order to take this advantage, a report is conducted in order to better reflect the jewellery industry in Hong Kong.
This report, which you requested on 5 Jan, (1) evaluates the opportunities in retail jewellery trade in Hong Kong, (2) and also analyses the...