Market research presented by Su L., Lai Z., and Huang Y. (2023) examined the souvenir market in terms of tourists visiting the city. They examined the market in terms of attractiveness, usefulness and authenticity. Research shows that these are the two most influential factors that guide tourists when choosing and purchasing souvenirs.
According to the report by Industry u-gib com, US Gift Industry Statistics, women mainly buy gifts on the American market. According to research, 81% of buyers are women (Lindner J., 2023).
The global "Gifts Novelty and Souvenirs Market" conducted research that indicated that the growth will be consistent and solid, which is expected by 2030. Research on the Gift Market shows that people pay a lot of attention to the issue of materials and their environmental friendliness. (Chemicals & Healthcare Industrial Entrepreneurs, 2023). The location of my travel centre is in the USA. Research shows that this market has the best sales results (Chemicals & Healthcare Industrial Entrepreneurs, 2023).
Gens and Millennials, I think will be the perfect audience for my project. Items created at the tourist centre will be simple and functional. It is also a good gift for friends or family. Since there will also be items recommended for age - such as a tote bag or apron, my audience will also be people who already have families - children of preschool and school age (Louis, 2003).
Research shows that my ideal customers will be mainly women. I also need to pay a lot of attention to the materials (environmentally friendly, recycled) that I will use in my designs. I should also add personalized elements because research also draws attention to this aspect as important for customers. In a tourist centre personalization probably will be difficult to do, because tourists come to the store for ready-made items. I will try to at least give customers a choice, for example, through the selection of accessories or different colour options.
Reference List:
Su, L., Lai, Z. and Huang , Y. (2023) How do tourism souvenir purchasing channels impact ..., Sage Journals. Available at: https://journals.sagepub.com/doi/10.1177/00472875231195062 (Accessed: 04 April 2024).
Lindner, J. (2023) Must-know gift industry statistics [latest report] • Gitnux, GITNUX. Available at: https://gitnux.org/gift-industry-statistics/#:~:text=Highlights%3A%20Gift%20Industry%20Statistics,about%2010%20billion%20U.S.%20dollars. (Accessed: 06 April 2024).
Technavio, https://www. technavio. com/ (2021) Market research reports - industry analysis size & trends - technavio, Gifts Novelty and Souvenirs Market Size & Trends [2023 Report]. Available at: https://www.technavio.com/report/gifts-novelty-and-souvenirs-market-industry-analysis (Accessed: 06 April 2024).
Louis, D.S. (2003). Gen Z attitudes and preferences: New Reach3 study reveals what young consumers want for the 2019 holiday shopping season. [online] www.reach3insights.com. Available at: https://www.reach3insights.com/blog/gen-z-millennial-holiday-2019.
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