Entering Grooming Business in Hong Kong Pest Analysis
Executive Summary The objective of this report is to provide comprehensive research and analysis on the political, economic, social and technological environment in Hong Kong.
The research and analysis is then used to evaluate the market for potential in pet grooming service. “Hong Kong is such a cramped place that it is surprising to learn that we have hundreds of thousands of dogs sharing our city with us”, according to South China Morning Post (2006, p. 14).
Nonetheless, due to the desire for more sophisticated pet products including pet grooming services, the pet industry in Hong Kong has been flourishing despite the already saturated market for pets. Furthermore many younger couples rather keep a pet instead of having children. Pets are being treated like human beings and therefore as members of a family.
Furthermore, people in Hong Kong tend to spend more disposable income on their pets compared to many other countries in the region.
In order to establish a pet business in Hong Kong, PEST analysis is a noteworthy tool for studying and assessing the business environment. Additionally, the legislative, social lifestyle and communication infrastructure environments in Hong Kong come together for establishing a conducive environment for a variety of pet related businesses including pet grooming services. This report also demonstrates the possible segmentations and roughly projects the potential of each segment. The company will then see if potential for pet grooming service in Hong Kong exists.