Market Trend Essay
They do this not only because they are extremely unconcerned about the safety of their children but also since most first time parents generally have no idea what the differences are between products. So these first time parents are going to be easy Influenced -In the baby product market, these customers when choosing baby products information are more influenced by products that are logic and fact -centered and are more influenced by emotion oriented aspects.
They also appear to be more concerned with how the product looks, feels, and appears to other people than whether the item is ultimately safe and worth the money they are paying for their children. These days, people willing to have less children in their family including Thai society. Thai people prefer to have fewer children than their predecessors. The birth rate of Thailand in 2013 showed at 12. 66 per 1,000 population and 12. 81 in 2012 which show the birth rate is become slower.
The birth rate is expected to decline more because Thai consumers mainly plan to focus on their career while push back their marriage and childbirth. With the lower birth rate In 2013, consumers were also more devoted to their children and
Need essay sample on "Market Trend"? We will write a custom essay sample specifically for you for only $ 13.90/page
Therefore, they were increasingly willing to invest in baby and child-specific products to enhance their children’s wellbeing. With new higher education levels of Thailand, new young parents have more awareness about the benefits of baby and child-specific products made with natural and/or organic ingredients. There is rising concerns of harmful chemicals on hillside’s skin, which are causing parents to purchase naturally positioned or organic baby and child-specific products.
Parents perception of such products are safer for their child as the products are believed to be free from harmful chemicals. Products positioned to be mild on skin have seen strong demand in the baby products market of Thailand. These days, there are increasing number of women in the workforce globally which can lead to increase the disposable income of each family. Baby care products are generally purchased by middle and high income earners. So, there will be rising expenses on products that are better quality and specific to their family needs.
Most purchased baby products are Baby hair, skin and products and baby toiletries are popular in Thailand last few years, but given the growing awareness of the dangers of sunlight, parents are becoming remarkably cautious about using baby sun care products. Specialist baby care brands were available in chemists/pharmacies, and typically have small sales shares in the market. However, as baby care products started making their way into supermarkets and hypermarkets, brand awareness of hose products have gradually increased.
So, consumers can easily get the baby products in the market these days. Premium care baby products are still struggle in Thailand baby care product market because of many competitive cheap brands which are national brands with moderate quality of the products. As Johnson and Johnson, Pampers. In Thailand, Baby skin care and toiletries are major segments of baby care market with high market share and will continue increasing in the future. Secondly, baby hair care segment has moderately market penetration, however is expected to grow argue in near future.
Baby sun care segment is relatively small market, as parents always concern of taking their baby into direct sunlight often. Increasing trend of using shower gel as preferred bath product for babies is creating positive consumption of the baby care products. In addition, there will be many new entrants as Thailand baby care product is attractive in the global market. Environmental Analysis According to a related survey, the baby product market is one of the fastest growing industries, the capacity of the domestic baby product market is expected to increase o 300 billion ARM within the next 30 years.
Such a prediction is by no means a fantasy. From the perspective of baby skincare industry, its sales profits have reached more than 11% over the past three years, higher than any other skincare industries. Baby skincare products mainly refer to essential goods used in daily care. According to function, it can be divided into: bathing goods, cleaning supplies, washing care products, special effect supplies and urine prevention supplies. Among which, bathing goods and washing care products are high consumables, and account for the most prominent sales performance.
From the analysis of user age group, products for O to 3-year-old babies have a more eye-catching sales performance, because as children grow older, their skin resistance will gradually improve, so they rely less on the product’s special function, and spent less on buying the product accordingly. Especially in recent years, under the stimulus of e-commerce and maternal and child stores, shopping mall and supermarket have created special counters for baby skincare products to attract consumers. Since, the channel began to emerge as a hot seller which continued to penetrate into the market.
Maternal and child channel focuses wholly on selling baby products. Its specificity creates a professional image and distinguishes it from other channels; besides sales performance, most maternal and child stores provide professional guidance and impressive product experience for consumers; its one-stop sales service, has largely facilitated consumers’ shopping demands and gradually won widespread favor and trust. Although maternal and child channel’s penetration in Thailand is still fall far behind shopping mall and supermarket, Judging from its penetration rate in the short term, it shows promising sales potential.
Nowadays when it comes to the development of channels, the rise of e-commerce is the hottest topic. Not only in the baby product industry, e-commerce blows a strong wind that shakes the traditional channels in various industries and countries. Currently, the major consumer groups of baby skincare products are parents born in the sass and sass; also, people’s dependence on the Internet has been increasingly high since the sass and sass. There is no doubt that the rise of the Internet has changed the way people live, of course including consumer behavior.
E-commerce is free from the restriction of time and space. As long as the Internet is available, consumers can purchase products anywhere anytime. Taking advantage of this opportunity, many well-known baby skincare brands launch official website and online flagship store to meet the consumer trends. It can be said that e-commerce is a must route to improve competence. On the other hand, baby product market could be a “battlefield” where players really need quality and innovation to win, so companies should concentrate efforts on technology research and investment. Core technology advantages are seen as priceless.
Hence, a complete legal environment on the protection of intellectual repertory is more conducive to the development of outstanding enterprises and brands, helping to create a good atmosphere for industry development and also restricting some enterprises in act of copyright theft. Similarly, with regard to the environment a test for companies and brands are taken. Whether they can pass the test relies on their insight into the changes and their ability to respond. However, within an industry, the same brand environment does not mean all companies and brands should take the same strategy, it needs to match the brand’s own condition and resource.