How To Use Mandala's International Tourism Research To Grow A Retail Business

How To Use Mandala's International Tourism Research To Grow A Retail Business

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Market research is one of the best ways to develop a formula for success by obtaining data that can vastly improve the way that retail businesses market and sell their products. International tourism research helps business owners to get inside of their customers heads, discover their shopping motivations and learn who their biggest customers are and what they are looking to buy.

There was recently an international tourism research study performed, by Mandala Research, which polled inbound travelers to the US, who had visited within the past twelve months. It looked at their overall itineraries and specifically on their shopping plans. The initial findings found that the top five emerging markets included visitors from: Australia, Brazil, China, India, and Korea. Out of these five countries, shopping is a primary motivation for the U.S. as a vacation destination. Over 50% of these visitors said that shopping was what attracted them to the United States. The travelers also purchased more than twice the amount they had planned to during their visit.

How to Use this Information in Retail

Market research and the travel and tourism industry directly impacts retailers and the results of these reports can drastically improve business:

Brand Awareness- Retailers that are located in high-traffic tourist destinations such as New York City, Los Angeles and Orlando will be able to identify which brands foreign visitors are buying most. For many travelers, they cannot obtain the same products in their country, or not for an affordable price. This is especially true with electronics such as cell phone technologies. While a certain brand may not be as popular with locals, the same could be a lucrative seller, when marketed toward an emerging international market group.

Key Activities- If a retailer is considering opening a new storefront one of the best places could be close to a popular tourist destination. The emerging market groups enjoy visiting museums, zoos, parks and cultural monuments. Setting up shop close to one of these tourist hot-spots will attract more customers that are visiting to find deals and products that they cannot purchase at home.

What are they buying? Even by knowing what travelers are buying will help retailers plan their inventory with more purpose and strategy. Foreign travelers are buying electronics and clothing by specific brands. Retailers can easily purchase a market report on the emerging international markets to discover what is selling best and during what seasons throughout the year.

Market research benefits many companies within travel and tourism and the businesses that are closely connected to these industries such as retailers in heavily populated cities. With these reports, any retail store owner can learn about international visitors and discover what they are buying, when they are visiting and how much they are spending. This valuable information gives an opportunity for a more focused strategy and increases the chance of success.

Mandala Research provides international tourism research to industries throughout the United States. To find out more visit, Mandalaresearch.

About the Author:
Mandala Research is a trusted market research firm offering a diverse range of international tourism research for Fortune 500 companies, non-profits and government agencies. Learn more at www.mandalaresearch.com.



Article Originally Published On: http://www.articlesnatch.com


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