prepared for gulf small business forum 15 october 2009 by dr kim houghton strategic economic...
TRANSCRIPT
Prepared for Gulf Small Business Forum15 October 2009
by Dr Kim HoughtonStrategic Economic Solutions
Market trends and opportunities for
Gulf-Savannah businesses
4 small business hot spots
1. Wealth-driven ‘niches’2. Active & affluent retirees3. Quality-driven - resurgence of local & authentic4. Experience seekers
It’s all about people
Dentyne from trendwatching.com 2009 Report
0200,000400,000600,000800,000
1,000,0001,200,0001,400,0001,600,0001,800,000
0-4
5-9
10-1
4
15-1
9
20-2
4
25-2
9
30-3
4
35-3
9
40-4
4
45-4
9
50-5
4
55-5
9
60-6
4
65-6
9
70-7
4
75-7
9
80-8
4
85+
Age group
1996 Census
2001 Census
2006 Census
2011
2016
2021
2026
Source: ABS Census 2006 and ABS forecasts
Australian population trends
0%
5%
10%
15%
20%
25%
5 to
14
15-2
4
25-3
4
35-4
4
45-5
4
55-6
4
65-7
4
75-8
4
85 y
ears
plu
s
Age group
age group as % of population age group % of in-migrants
Carpentaria Shire
ABS Census 2006, ‘usual residents’ over 5 years old522 newcomers, 29% of population over 5yo
0%
5%
10%
15%
20%
5 to
14
15-2
4
25-3
4
35-4
4
45-5
4
55-6
4
65-7
4
75-8
4
85 y
ears
plu
s
Age group
age group as % of population age group % of in-migrants
Etheridge Shire
ABS Census 2006, ‘usual residents’ over 5 years old242 newcomers, 31% of population over 5yo
0%5%
10%15%20%25%30%35%
5 to
14
15-2
4
25-3
4
35-4
4
45-5
4
55-6
4
65-7
4
75-8
4
85 y
ears
plu
s
Age group
age group as % of population age group % of in-migrants
Burke Shire
ABS Census 2006, ‘usual residents’ over 5 years old191 newcomers, 40% of population over 5yo
0%5%
10%15%20%25%30%35%
5 to
14
15-2
4
25-3
4
35-4
4
45-5
4
55-6
4
65-7
4
75-8
4
85 y
ears
plu
s
Age group
age group as % of population age group % of in-migrants
Croydon Shire
ABS Census 2006, ‘usual residents’ over 5 years old72 newcomers, 31% of population over 5yo
Split markets
• Cost conscious locals• Cost conscious visitors• High value visitors
Visitor arrivals, Short-term Resident departures, Short-term
More split markets
Disappearing middle
The Vanishing Middle Market,
McKinsey Quarterly 2005, No 4
Big business thinking
Low Margin: Tevion $39 DVD
High MarginHaier – also made in China... and America45 bottle wine chiller $690
Small business tactics
• Know your margins and your industry
• Forget low margin market
• Excel at the middle market if you are in it
• Understand the value perceptions behind high
margin products and services
Opportunities in maturing markets
– Business to business• Outsourcing opportunities for both sides• Small business specialists
– Business to consumer• Goods• Services
© SES 2009
Martha Shepherd from Galeru, RIRDC Rural
Woman of the Year 2006
Quality and ‘value’
• Differentiate• Customise• Be real• Be passionate
– Because passion sells
(EUR26/pair) www.netgranny.ch
(from www.trendwatching.com)
Local and service-focused
• How far would you go?• Information vs experiences
– More value in trust and authenticity
• Global vs local– Customer led– Personalising and feeling special
• This is small business territory!www.trendwatching.com
Passion sells
• Customers are buying experiences and memories– BridgeClimb– Beechworth Bakery– Elvis Parsley’s Grapelands (Nick Cominos)
– From beauty salons to day spas
Opportunity Hot Spots
• Know your market– And how it is changing
• Emphasise value – Not just price or quality
• Love your customers– Grow around those you want to stay with
