Retail management (Pop-up)

Pop Up Shop Final Presentation Louis Yeo Retail Management FASM 410 FALL 2016

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table of contents

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Cover Page -------------------------------------------------------------------------------------------------------------- 1 Executive Summary ----------------------------------------------------------------------------------------------------- 4 Objectives of Pop Up --------------------------------------------------------------------------------------------------- 5 Great Promise for Hong Kong ---------------------------------------------------------------------------------------- 6 Company Profile --------------------------------------------------------------------------------------------------------- 7 Product Offering -------------------------------------------------------------------------------------------------------- 9 Competitors ------------------------------------------------------------------------------------------------------------- 14 Customer Segmentation ----------------------------------------------------------------------------------------------- 23 Location Analysis ------------------------------------------------------------------------------------------------------- 27 Store Design -------------------------------------------------------------------------------------------------------------- 40 Assortment Plan/Price Points ----------------------------------------------------------------------------------------- 46 Promotion ----------------------------------------------------------------------------------------------------------------- 56

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executive summary kind snacks have achieved quite a number of following in the states.

According to Nielsen, a global information and measurement company in the UK, discovered out of the 2000 products in the nutritional bar category, 6 of the top 10 bars are of KIND snacks. however, kind has not ventured into the hong kong market

Objectives of pop up

a pop up shop is ideal to test the market and to create brand awareness a series of research and surveys have been conducted to ensure the viability of pop up location, assortment plan and promotional tools such as social media. all facets of opening up a pop up store in hong kong are intergrated to provide a seamless experience to the consumer

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To test the Hong Kong Market Create market awareness for KIND snacks

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company

Great Promise for

profile

Hong Kong

There are 7.2 million people in Hong Kong.

Health snack specialty retailer Maker of nutritious and

According to IMF (International Monetary Fund), Hong Kong's GDP per capita is ranked 10th In addition, KIND snacks has not ventured into the Hong Kong market yet World Economic Outlook Database-October 2016, International Monetary Fund.

delicious snack foods, KIND is the fastest-growing U.S. snack company.

Focuses on using nutritious and simple ingredients The fruit and snack bar can be found in over 80,000 locations in the US. In 2010, sales were around $10 million and it skyrocketed to $120 million in 2012.* 6

*Fortune; 2014: Why Kind bars are suddenly everywhere; Retrieved from http://fortune.com/2014/02/10/why-kind-bars-are-suddenly-everywhere/

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mission

product

statement

offering

Daniel Lubetzky, founder and CEO of KIND, is on a mission to

make the world a little kinder one snack and act at a time.

social mission

To encourage random acts of kindness through KIND movement.

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Kindsnacks.com

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competitors 3 categories: Chocolate Covered, Soft Cookie and Nut Butter & Fruit Certified Gluten Free

6 categories: Fruit & Nut, Nut & Spices, Plus, STRONG, Pressed, Healthy Grain Bars/ Clusters/ Snackbites

Soy free

Brand Positioning is “To make the world a little kinder one snack at a time.�

Contains Dairy in Whey Products

Gluten Free

Corn & Corn Syrup Free

NON GMO

High Protein (13 grams)

Uses Soy and Dairy

High Fiber

100% Natural but does not use Organic ingredients

No Trans fat Contains roughly 12g of sugar 100% Natural; Organic on key ingredients

Contains roughly 12-15 grams of sugar Price is estimated around HKD$11 per bar*

Price is estimated around HKD$8 per bar*

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*Prices on their online store

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No categories but has only 9 products available in Hong Kong Brand Positioning is “Low GI, Sport”

6 categories: Fruit & Nut, Nut & Spices, Plus, STRONG, Pressed, Healthy Grain Bars/ Clusters/ Snackbites

Uses Soy and Dairy in ALL of the products

Brand Positioning is “To make the world a little kinder one snack at a time.”

Contains Cholesterol

Gluten Free

Only their Soy is NON GMO

NON GMO

Consists of on average of 11 grams in their products

Uses Soy and Dairy in specific products

Costs around HKD$7 per bar online

No Cholesterol Contains roughly 12-15 grams of sugar 100% Natural but does not use Organic ingredients Costs around HKD $11 per bar online

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Only has 5 bars Brand Positioning is “Preservative Free Raw Goodness”

6 categories: Fruit & Nut, Nut & Spices, Plus, STRONG, Pressed, Healthy Grain Bars/ Clusters/ Snackbites

Vegan Friendly (No dairy)

Brand Positioning is “To make the world a little kinder one snack at a time.”

Gluten Free

Uses Soy and Dairy in specific products

Ingredients are natural; key ingredients are organic

Gluten Free

Uses from 14-20 grams of sugar Price costs HKD $14 per bar online

NON GMO No Cholesterol Contains roughly 12-15 grams of sugar 100% Natural but does not use Organic ingredients Price costs roughly $11 per bar online

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Only has 5 bars Brand Positioning is “Preservative Free Raw Goodness” Vegan Friendly (No dairy)

Brand Positioning is “To make the world a little kinder one snack at a time.”

Low calories/sugar (5 grams per 40g)

Uses Soy and Dairy in specific products

Revolves around Chia seeds

Gluten Free

Its all about SUPERFOODS

Contains roughly 12-15 grams of sugar NON GMO

Gluten Free Ingredients are natural; key ingredients are organic Price costs around HKD$13.50 per bar online

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6 categories: Fruit & Nut, Nut & Spices, Plus, STRONG, Pressed, Healthy Grain Bars/ Clusters/ Snackbites

No Cholesterol 100% Natural but does not use Organic ingredients Price costs roughly $11 per bar online

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Perceptual

customer

Health

map

segmentation Achievers Members of this group typically: Have a 'me first, my family first' attitude Believe money is the source of authority

Price

Are committed to family and job Are fully scheduled Are goal oriented and hardworking Act as anchors of the status quo Are peer conscious Are private Are professional

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Value technology that provides a productivity boost.

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Mindful Snackers

Fitness buffs

Demographics

Psychographics

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Consists of ages between 18-32 years of age

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Respect their bodies

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Ratio of females to males: 8:2

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Strives to be healthier

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HKD $35K -60K

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Has a little sweet tooth

Behavioral • •

Demographics •

Women between 21-35

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Salary between HKD$20 to 40K

Geographic

Less price sensitive than the masses

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Millenials; shows less brand loyalty

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Psychographics •

Love to work out; 4-6 times a week

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Consists mostly of fitness instructors

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Snacks on clean and healthy options

Geographic

Behavioral

Lives in Hong Kong, specifically In more affluent places such as Central and West Kowloon Districts

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They tend to be more loyal to brands, compared to rest of the millenials

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Quality in ingredients in brands are important

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Lives in all over in Hong Kong

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They carry fitness routines in Hong Kong, mostly in Central and Western District

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location analysis

Criteria in Looking for a Location Fairly affluent women/households with higher incomes Between ages 18-32 Accessibility High Traffic levels Space

Retrieved from Pinterest.com

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central/

western district Population size of 246,000* Monthly Median Household income is the second highest in all the districts in Hong Kong* Second highest labor participation rate among target market group, women between 18-32 years of age* 28 Retrieved from China Digital Times

*Hong Kong Monthly Digest of Statistics 2016 /Population and Household Statistics Analysed by District Council District from 2015

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ifc One of the busiest places. IFC is located at the heart of the CBD area. It does not matter if it is weekday or weekend, there is huge traffic from visitors and working professionals

Accessible due to the vincinity of Central MTR

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*Supermarkets are the leading channels for health and wellness products, particularly snack bars

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*HEALTH AND WELLNESS IN HONG KONG, CHINA Euromonitor International ;April 2016

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Yau tsim mong district

Population is 318,100 Yau Tsim Mong District includes areas such as Tsim Sha Tsui, Mong Kok, Jordan and Yau Ma Tei According to the Hong Kong Monthly Digest of Statistics in 2016, Yau Tsim Mong (33.9%) was the district with the largest proportion of persons at prime working ages. This was closely followed by Central & Western (33.6%)

Retrieved fom Hong Kong Tourism Board

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*Hong Kong Monthly Digest of Statistics 2016 /Population and Household Statistics Analysed by District Council District from 2015

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elements/three sixty Accessibility Surrounded by the ICC, Apartment complexes such as Sorrento and Cullinan The supermarket gets crowded during peak hours on weekdays and weekends 38

retreived from Hong Kong Digital Vision

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store

Moodboard/Inspiration

design needs

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Front

pop up booth (Visual)

Back

PInewood is used due to company's values in kindness towards environment top two boxes and bottom box are just for display. the purpose is just to show the fascinating packaging of the snack bars only the middle box is available for consumers to grab from design is simple; values are conveyed through quotes brand colors are used grass is used to convey kindness 42

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pop up booth

sides

an extension table is there for tasting consumers can taste the snack bars for free only bars from top shelves can be taken bottom shelf is only for display 44

One staff member will always be present

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assortment plan

Blueberry Vanilla & Cashew

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Cranberry Almond + Antioxidants with Macadamia Nuts

Honey Roasted Nuts & Sea Salt

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Dark Chocolate Cherry & Cashew

price range & Points

Caramel Almond & Sea Salt

Cranberry Almond + Antioxidants with Macadamia Nuts

Blueberry Vanilla & Cashew

Honey Roasted Nuts & Sea Salt

12 bars for HKD $155

12 bars for HKD $155

12 bars for HKD $155

According to the survey, popular choices such asblueberry and darkchocolate are selected. Caramel almond is selected due to testing of the market.

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assortment

planogram

ratio 35

Front

Percentages

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Percentages

25 20

Blueberry Vanilla (20%)

Cranberry Almond (20%)

15 10 5

Dark Chocolate Cherry (35%)

Honey Roasted (20%)

Caramel Almond (5%)

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table Sides

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Floor plan (City Super)

Floor plan (Three Sixty)

Confectionery

Most people enter through here

Pop Up Booth

Pop up booth Snack bar section

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promotion

Ifat Hindes

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Power influencer

Ifat Hindes Healthy Foodie

In today's day and age, social influence is so important in marketing and generating interest

Feature Writer Influencer

Ifat hindes is an influencer who not only loves healthy foods and have values similar to the kind snack brand.

Mother Influencer IG: 6K followers

on her instagram page, she often talks about love and kindness.

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social

media

ifat hindes will be helping us with increasing the reach with kind's target market. ifat hindes's followers have a huge interest in eating clean and healthy. she would upload posts about incorporating kind bars into her lifestyle. she will do it every fortnightly, so that it appears genuine and she really loves the snack.

She will tag our instagram page, kindsnackshk and in the meantime, we would post about the opening of booth on our instagram page 60

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facebook

marketing

Segmentation of target market is possible through Ads manager. through this way, kind is able to define specific demographics such as age and psychographics such as interests in snack bars and soy joy KIND aims to set a budget of HKD$500 a day with automatic bid. this means that facebook will help kind manage the HKD$500 a day budget with the best reach 62

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ad mock up

Desktop

Mobile

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references

Beth Knowitt, 2016, In Reversal, the FDA says “ Healthy’ can return to the Kind bar, Retrieved fromhttp://fortune.com/2016/05/10/kind-barhealthy-fda/ Caroline Fairchild, 2014, Why Kind bars are everywhere, Retrieved from http://fortune.com/2014/02/10/why-kind-bars-are-suddenly-everywhere/

World Economic Outlook Database-October 2016, International Monetary Fund.

Hong Kong Tourism Board;n.d; Retrieved from http://www.discoverhongkong.com/ca/see-do/culture-heritage/modern-architecture/international-commerce-centre.jsp

Population and Household Statistics; Census and Statistics Department,Hong Kong Special Administrative Region; 2015

Moodboard/ Inspiration, retrieved from Pinterest.com

Health and Wellness Hong Kong, China, Euromonitor International; April 2016

Ifat hindes; n.d; retrieved from https://www.instagram.com/ifathindes/

Harvestbox;n.d; Retrieved from http://www.harvestbox.com.au/browseProducts/4/CRACKERS,-TREATS-&-BARS Kind Snacks; n.d;Retrieved from http://www.kindsnacks.com/store/types/kind-bars/fruit-nut/kind-almond-coconut.html PureGoodBars; n.d; Retrieved from http://www.puregoodbars.com.au/products/ Zing;n.d; Retrieved from https://zingbars.com/ About Travel; Hong Kong Shopping Malls; 2016; Retrieved from http://gohongkong.about.com/od/shoppinginhk/tp/HongKongShoppingMalls.htm Denise Shoukas;2014; Giving Back: The Kind Movement: Specialty Snacks Fuel a Social Mission; Retrieved from https://www.specialtyfood. com/news/article/kind-movement-specialty-snacks-fuel-social-mission/ Kind, n.d, Retrieved from http://www.kindsnacks.com/kind-becomes-first-national-snack-brand/ Euromonitor, Sweet Biscuits, Snack Bars and Fruit Snacks in Hong Kong, China,2016, Retrievedhttp://0-www.portal.euromonitor.com.library. scad.edu/portal/analysis/tab Consumer Demographics and Trends 2013, Retrieved from https://your-watson.com/2013/01/03/consumer-demographics-and-2013-snack-trends/ Soyjoy, n.d Retrieved from https://www.soyjoy.hk/tc/about_soyjoy/ingredients.php

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