Business Research Essay Example | Topics and Well Written Essays - 1000 words - 1

Business Research - Essay Example The wholesale and retail trading is a flouring industry in Singapore. The first quarter of 2007 registered 5.6% rise in income over the corresponding quarter of the previous year. The other three quarters also recorded significantly higher rise in income relative to that of the previous year [Table A2.7] (Central Provident Fund Board, 2008). These details indicate that the retail sector is growing in the recent years to a great extent. It is clear that there are a number of opportunities for ABC to expand its activities in the retail sector. Hence it is essential that ABC should concentrate on more number of localities in order to gain the first mover advantage (Jobber, 2004). It also has the added advantage of providing expendable items such as food products, beverages and tobacco products, in addition to the household goods. It is noticeable from the data in the Private Consumption Expenditure [Table A1.6] that there is a 4.3% increase in demand for Foods & Non-Alcoholic Beverages, 1.6% more on Clothing & Footwear, 2.2% more on Alcoholic Beverages & Tobacco, 3.4% more on Furnishing, Household equipment & Maintenance (Statistics Singapore, 2008). The data on private consumption indicates that the market is growing in Singapore and that the demand for goods is increasing as people are ready to spend more on their household expenditures. The important thing to notice is that all most of the products that have shown an increase in consumption are covered by ABC mini-mart. Hence it is evident that ABC mini-mart can gain more market share by expanding its operations to other feasible locations. The ABC mini-mart has to analyze the market segments it serves in order to arrive at a conclusion on their user behaviour and expectations (Evans and Moutinho, 1999). Another important thing to be considered is their spending power (Sloman and Sutcliffe, 2004). The younger age group of Singapore, i.e., age 15 and over, are the main target market segments for ABC