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Title: Online Asian Grocery Store

Student Name and ID:

Instructor Name:

Word Count: 900

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Table of Contents
Introduction...........................................................................................................................................3
Market research.....................................................................................................................................3
Market target.........................................................................................................................................3
Environmental/industry analysis............................................................................................................4
Conclusion.............................................................................................................................................6
References.............................................................................................................................................7
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Introduction

In this proposal, a startup company will open an "Online Asian Grocery Store" in Sydney,

New South Wales, Australia. This company will sell the only Asian grocery items online in

the Australian marketplace. The main purpose of this company is to capture the market and

develop competitive value at the global level. The company will target customers from

Australia. It will focus on the market target and environmental analysis before starting the

business in this country. The market knowledge is needed to start up the store in Australia for

getting the better results in future (Bauerová, 2018).

Market research

As per the marketing plan, this company has gathered knowledge about the Australian market

by focusing on statistical research. The company has gathered information about this market

by focusing on online survey data. As per data, it has identified that the start-up company can

open the Online Asian Grocery Store in NSW, Australia. This company will earn a profit and

expand the business in this country (Statista, 2021). As per market research, the collected

data has provided effective outcomes to develop the business. The target market and industry

analysis are effective to measure the market of Australia for developing the business that is

given in detail.

Market target

As per the marketing plan, a start-up company will open an Online Asian Grocery Store for

selling the grocery items such as food items and daily uses grocery items. The company will

focus on market segmentation to target the people. The company will focus on demographic

segmentation to target online customer like age, gender, and income, professional. It will

touch the online customers such as students, professionals, rich person, housewife and other

people (Thomas, 2020). The company will also target the online customers as per

geographical segmentation where it will target the people in the city. The company will also
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touch the online customers through behavioral segmentation where it will understand the

buying habits.

Sales target

As a startup company will make the decisions to set the sales target. It will organize the

meeting with managers to decide the plan for sales targets. The company will follow the

timeframe to achieve the sales target in the Australian marketplace (Pitts, 2018).

Items Quantity Timeframe Sales targets

Asian grocery items 60,000 First month 0%

Asian grocery items 75,000 Third month 25%

Asian grocery items 101,250 Sixth month 35%

Asian grocery items 162,000 One year 60%

Environmental/industry analysis

Market research/market size

As per Australian market research, it has performed the online grocery market is predicted to

grow to $4.2 billion by 2023. In the next five years, Australia will grow at 15.3% in the

market share. Global online grocery markets will grow by $227 billion at 20% annual rate

(Hogan, 2018). As per research, 2790 is grocery and supermarkets stores in NSW, Australia

in 2020. It can be identified that this company will get the competitive advantages if it will

run the business in NSW, Australia (Statista, 2021).

Population growth

As per research, it has identified that the New South Wales population will grow by 8.196

million by the end of June 2021. The growth rate is 1.02% to 1.65% each year where 80,000

to 120,000 people add to NSW. The population growth rate was 7.992 million in 2019 and

the rate was 1.29%. It increased in 2020 that was 8.092 million people and a 1.29% growth
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rate (Population.net.au, 2021). NSW has the third position in the state regarding population

density. The company will target the people and increase the sales.

Long-term employers

In NSW, Australia, employers are hiring people to grow the business at the global level. The

employers provide the training to the employees for getting better results in the online

business. The expert people create the ideas for expanding the business in the digital era. The

employers in NSW work for the long term to develop the value. This company will provide

job opportunity and target the people (Fletcher, 2021).

Region economy

As per the economy, NSW Australia is the most important state in Australia. It has a better

position in agriculture, forestry, fishing, resources and power, manufacturing, services, labour

market, transportation. NSW is a diversified and service-driven economy and it has

comparative strengths in business services. It is popular for diverse export. The gross state

product was recorded in 2018-19 by 0.7%. A startup company will earn more profit by

opening an Online Asian Grocery store (Treasury.nsw.gov.au, 2020).

Seasonal variations

In NSW, Australia, the company will earn more profit and expand the business during

seasonal. It is because the Australian people buy the products due to festivals. In the modern

era, people buy grocery items online and save time. This company will offer a discount to

increase the sales at seasonal.

Recent trends

In the NSW market, social and demographic trends have emerged that are effective to the

growth potential of the business. These trends will fit for this company to expand the

business. NSW Australia includes trends such as changing population, ageing, staff

shortages, transitioning, new lifestyle, online shopping and focus on e-commerce

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(Hornsby.nsw.gov.au, 2020). Finally, this company will get better results in the online

business to focus on trends.

Market customers

This company will develop a relationship with customers online and provide the discount to

start an online Asian grocery store in NSW, Australia. It will address the online buying

behavior of the customers in the market (Bauerová, 2018). It will deliver the products as per

customer needs online where it will focus on customer services, delivery on time, free

shipping, discounts and high-quality services with lower prices for expanding the business.

Conclusion

As per discussion, the company will get the revenue as per sales target in NSW, Australia. It

has focused on market research and environmental analysis for getting the experience

regarding online grocery stores. This business will run online and target online customers in

the digital era. Finally, it will get success in the business in this region.
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References

Bauerová, R. (2018). Consumers’ Decision-Making in Online Grocery Shopping: The Impact

of Services Offered and Delivery Conditions. Acta Universitatis Agriculturae et

Silviculturae Mendelianae Brunensis, 66(5), 1239-1247.

Fletcher, B. H. (2021). New South Wales state, Australia. Retrieved from

https://www.britannica.com/place/New-South-Wales/Services-labour-and-taxation

Hogan, R. (2018). Online grocery market to grow to $4.2bn by 2023. Retrieved from

https://insideretail.com.au/news/australians-online-grocery-market-to-grow-to-4-2bn-

by-2023-201810

Hornsby.nsw.gov.au. (2020). 10 Demographic & Social Trends Impacting Australia &

Hornsby LGA. Retrieved from

https://www.hornsby.nsw.gov.au/_resources/documents/business/2020-Looking-to-

the-Future-trends-impacting-Aust-and-Hornsby-LGA.pdf

Pitts, S. B. (2018). Online grocery shopping: promise and pitfalls for healthier food and

beverage purchases. Public health nutrition, 21(18), 3360-3376.

Population.net.au. (2021). Population of New South Wales 2021. Retrieved from

https://www.population.net.au/population-of-new-south-wales/

Statista. (2021). Number of operating supermarkets and grocery stores in Australia in the

financial year 2020, by state. Retrieved from

https://www.statista.com/statistics/932677/australia-number-supermarket-and-

grocery-stores-by-state/

Thomas, S. R. (2020). 4 Types of Market Segmentation With Real-World Examples.

Retrieved from https://www.yieldify.com/blog/types-of-market-segmentation/

Treasury.nsw.gov.au. (2020). About the NSW economy. Retrieved from

https://www.treasury.nsw.gov.au/nsw-economy/about-nsw-economy
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