Market Research and Analysis Essay
Congo has a product line heavily weighted with music and print materials. They have maintained their splendid service in terms of support and delivery. However, the increasing competition for Congo may lead to difficulties in maintaining or increasing their sale. It is fact that today we have various different websites providing the same services as Congo do so in order to have a growth we must have a market research analysis to formulate a better strategy to succeed.
This paper Is a market research and analysis on the state of the online shopping and aiming market In regards to market size, trends, demographics and potential. Size of market: Total gross sales for In 2009 was of US $51,000,000 Online shopping market- According to the research conducted, It Is expected that the size of sector would value US $40,000,000 by the end of year 2016 with the estimated 6% of compound annual growth rate (CARR) for year 2009-2016. Online gaming market- According to the research, online gaming revenue is estimated to grow annually by more than 8% from 2011-2016.
It was of US $25,000,000 with expectations to reach US y 2016. Demographics: Online shopping market- Most revenue generating age group Is of 25-44.
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Asia Pacific region is the fastest growing rake for gaming with estimated revenue of 43% of total global market gaming revenue after lies US comprising of 40%. Market trends- There Is a constant growing trend In online shopping Vela PC, tablet, smart phones and social media platforms on dally, weekly and monthly basis. The time spent on online play is 10 times as fast as the overall US Internet population, with proxy one of two users getting in the game. Online gaming has accounted nearly 3% of total time spent online by French Internet users, in France. PC gamer accounts highest percentage of gamers worldwide.
Revenue generating category Most revenues are made from books after which follows Cad’s and DVD’s. To increase revenue further Congo must expand its market to baby boomers. MOM games accounts as the most revenue generating trend overall. Revenue is expected to get more than double till 2016. Analysis According to the market conditions online gaming and shopping market is continuing its rise while this rate can further be increased by improving its influencing factors like higher levels of education, exposure to technology, trouble free payment and livery etc.