| | Taking Souvenirs as a Token of Messages: Exploring the Unique Glamour of a City Falling in love with a city, is probably due to the vivid scenery, or possibly due to a touching memory. It is a realm where refinement and commonality intertwine, where solemnity and harmony reside, in juxtaposition with a symphony of songs resonating with interpretations. In a hurried moment of travel, buying souvenirs can leave a fleeting impression of that city on passers-by. Owing to differences in resources and culture, tourist souvenirs in various regions have their own characteristics, while their industry chains are spread across various sectors. As tourist souvenirs have become an important component of secondary income in the tourism economy, their designs are interwoven with regional essence, traditional elements and modern aesthetics. Tourists are targeted as the audience, blending cultural connotations with practical functionality, and constantly developing personalised tourist souvenirs. Currently, the development trend of the tourist souvenir market is shifting from purchasing products to purchasing services, while upgrading from mass-produced products to experiential products. With the development of social media influencer economy, tourist souvenirs incorporating IP elements are gradually gaining popularity among younger consumers. For Macao, the “1+4” moderate appropriate diversification of economy strategies will bring more motifs and opportunities to the themed souvenir market in Macao. At the same time, Macao is committed to building a service platform for commercial co-operation between China and Portuguese-speaking countries, while product designs with Portuguese-speaking country elements are gradually attracting the attention of tourists. Moreover, the Macao SAR government is in collaboration with the six integrated resorts for revitalising the old districts based on the cultural characteristics of the six areas, where investors can develop distinctive tourist souvenirs in accordance with the cultural aspects of these above-mentioned areas. | |
| |
|
|
---|
|
| Focusing on the Travel Scene Experience and Expanding the Diverse Souvenir Market According to the research published by Technavio, an international market research company, titled Global Gifts Novelty and Souvenirs Market 2023-2027, it is projected that the added value brought by gifts novelty and souvenirs will reach RMB96,717.2 trillion (approximately US$137.316 million) from 2022 to 2027, with a compound annual growth rate of 3.4%. Generally speaking, souvenirs are purchased in tourist destinations. The United Nations World Tourism Organisation (UNWTO) has indicated that the global tourism industry has shown strong recovery in the first seven months of 2023. Domestic tourism sampling survey statistics also reveal that the domestic tourism revenue (total expenditure on tourism) in the first half of 2023 amounted to RMB2.30 trillion, an increase of RMB1.12 trillion compared to the previous year, representing a growth of 95.9%. It can be seen that the souvenir market has the potential for sustainable development. Due to differences in resources and culture, tourist souvenirs in each country have their own characteristics. For example, Australia has sheep oil, wool products and honey; France has essential oils, perfumes and wine; Canada has ice wine, maple syrup and smoked salmon; the United States has ginseng, basketball merchandise and Native American traditional crafts. As for China, distinctive tourist souvenirs mainly include tea, silk, ceramics, embroidery and products related to pandas. Therefore, the souvenir industry chain spans various sectors. However, tourist souvenir products often exhibit a relatively high level of homogeneity. Some may have a weaker connection to the cultural identity of scenic areas. Furthermore, with the flourishing development of the digital economy, consumers can not only purchase souvenirs during their travels, but can also easily find similar products online. This poses both challenges and opportunities for the souvenir retail market. As a result, the development trend of the tourist souvenir market is shifting towards experiential products from mass-produced ones. With the growth of the influencer economy, tourist souvenirs incorporating IP elements are gradually becoming popular among younger consumers. For example, taking photos with culturally creative ice cream in front of landmarks and sharing the photos and liking them on social media has become a “new trend” for many young travellers. The selling point of these culturally creative ice creams lies in their distinctive cultural and tourism “embedded” elements, transforming people’s first impressions of the city and landmarks into purchasable and edible commodities, thus stimulating curiosity and a desire for exploration. In addition, tourist souvenirs with IP characteristics are also moving towards a direction of social personality interpretation. For instance, the Palace Museum in Beijing stimulates immediate consumers’ purchasing behaviour during the visiting experience by launching products that contrast with the traditional royal court image, such as headphones decorated with pearls, umbrellas, official hats T shirts with a yellow robe design, . It is worth mentioning that tourist souvenirs with IP elements are derivative products and can be developed through independent development, joint development, or commissioned development. In the process of development, an overall intellectual property system including copyrights, trademarks and patents will be formed. Therefore, enterprises need to pay attention to intellectual property management issues. |
| |
|
|
---|
|
| | Aligning with Macao’s Diversified Development Plan, Aiming to Create Distinctive Tourist Souvenirs In the past, traditional Macao souvenirs were primarily food, including almond cakes, phoenix rolls and Portuguese egg tarts. According to the data from the Statistics and Census Service (DSEC) of the Macao SAR Government, benefiting from a significant 8.2-fold increase in the number of inbound tourists in the third quarter of 2023 compared to the same period in 2022, the total tourist expenditure (excluding gambling) rose 5.8 times to MOP19.6 billion. The total tourist expenditure for the first three quarters reached MOP52.06 billion, a year-over-year increase of 2.9 times. The majority of tourist spending goes on shopping, with 10.9% allocated to the purchase of food souvenirs. By adopting the “1+4” appropriate diversification of the economic development plan, the advancement of MICE, commerce, culture and sport has led to the emergence of Macao souvenirs in various themed forms. For example, on the occasion of the 70th anniversary of the Macao Grand Prix, the gift shop of the Macao Grand Prix Museum introduced a range of themed souvenirs and applied for the integration of the Macao Grand Prix logo into the design of different products through the Sports Bureau of Macao SAR. This aimed to establish the museum’s unique branded merchandise. |
| | Meanwhile, Macao is committed to establishing itself as a service platform for trade and co-operation between China and Portuguese-speaking countries. Product designs incorporating elements from Portuguese-speaking countries have gradually attracted the attention of tourists. On social media, tourists are enthusiastic about highlighting the tourist souvenirs available in Macao, while many of these products feature elements from Portuguese-speaking countries. An internationally renowned chain of coffee shops made use of consumers’ impression of Macao with the distinct influence of the Portuguese-speaking countries by introducing a limited-edition city cup with Portuguese Azulejos (ceramic tile) patterns, thereby strengthening the connection between Macao’s cultural characteristics and the coffee brand. In fact, “Let’s Hang Out - Lusophone and Macao Products Bazaar”, an event organised by the Macao Trade and Investment Promotion Institute (IPIM), seeks to tell brand stories and product characteristics with costumers and traders, for the purpose of establishing a resonance with consumers regarding products from Portuguese-speaking countries and Macao. In addition, to promote the development of non-gambling elements, the Macao SAR government has co-operated with the six integrated resorts in revitalising the old districts based on the cultural characteristics of six areas (such as the erstwhile Lai Chi Vun Shipyards). As a result, investors can leverage the cultural aspects of these areas to create distinctive tourist souvenirs. Additionally, IPIM’s Macao Ideas is a commerce and exhibition centre which serves as a showcase hub for products that are “Made in Macao”, “Macao Brand” and “Macao Design”. The centre brings together over 1,700 products from Macao enterprises. Its website also features recommended items in the categories of “culturally creative products and tourism merchandise”. The “offline + online” approach serves as a bridge for domestic and international buyers, as well as agents or enterprises which are interested in importing Macao products. |
|
|
|
---|
|
| | Macao, where Chinese and Western cultures converge, attracts a large number of visitors each year. The city is also an internationally renowned tourist destination. The souvenir market in Macao is thriving, and the variety of souvenirs is becoming increasingly diverse. From traditional souvenirs like keyrings to products designed by Macao designers and artists, such as landmark-shaped ice cream and culturally creative bags, they offer many more choices to tourists. Meanwhile, souvenir sales channels are not limited to souvenir shops and shopping centres. In recent years, souvenir vending machines have been introduced, enriching tourists’ shopping experiences during their visit. |
| | Enterprise Profile: 【Aoyou Wenfang Company Limited】 Specialising in selling Macao tourist gifts, the company offers a series of products with the design concept of “Beautiful Sky” incorporating elements from Macao. Customers can personally paint their own favourite and unique “Macao Sky”. “Aoyou Wenfang” then turns their artwork into a product, creating a personalised souvenir. This creative process enables the customers to experience the fusion of Chinese and Western cultures. |
| | Business Insights: - From Research to Entrepreneurship
During the early stage of entrepreneurship, extensive market research was conducted to analyse the consumption trends of mainland Chinese customers, compare them with the retail data from the DSEC of the Macao SAR government, and summarise the best-selling and popular product categories on online platforms. The data showed that there were currently no similar products found in mainland China or Macao, while there were relatively few companies in Macao specialising in customised gifts and manufacturing services. What’s more, “Aoyou Wenfang” has its own designers, which allows greater flexibility in product creation. Therefore, the concept for the debut product was born. “Aoyou Wenfang” continuously makes efforts to improve its product selection, cost control based on market demand, as well as gradually progressing and implementing its own innovative brand development and business strategy. - Seeking Success through Steady Progress
“Aoyou Wenfang” was established during the pandemic period when various industries were slowing down. However, it was precisely the opportune time for the company to prepare. “Aoyou Wenfang”, having meticulously planned and carefully deployed, was fully prepared to start operating once the market recovered. In the initial stage, the target customers were local residents and those who placed customised orders through the online store. As travel and the economy gradually recovered, “Aoyou Wenfang” gradually expanded into the tourist market and established physical outlets. To date, they have designed over thirty Macao-themed gifts. In the future, they will develop diverse and distinctive souvenirs, aiming to present a positive image of Macao’s beauty to travellers. - Well Targeted and Directed
Having a target is crucial in both product design and customer acquisition. For example, when setting up sales points, transitioning from street retail to online platforms and finding the right advertising methods become one of the specific targets. In terms of expanding customer sources, choosing the right exhibitions is the objective. “Aoyou Wenfang” also participates in various exhibitions to connect with potential customers from different countries and regions such as Australia, Singapore and the United Kingdom . Brand promotion and increasing visibility are important outcomes of such engagements. - Choosing Direction and Platforms
Continuous updates on market information and clear goal orientation are vital for “Aoyou Wenfang”. Opening branches requires consideration of factors like location, rent and labour costs. Therefore, setting an online platform is an indispensable part of making low-cost business expansion. With the continuous development of technology and the integration of various smart products into daily life, consumer patterns are changing. Consequently, more and more enterprises in the smart industry seek collaboration with different businesses. For instance, AI unmanned stores and gift galleries provide opportunities to promote brands worldwide by the use of online platforms. Leveraging online platforms is not only feasible but also an important window for discovering business opportunities.
|
| | “Aoyou Wenfang” expands business opportunities by participating in the MICE platform provided by the Macao Trade and Investment Promotion Institute (IPIM). For more information about MICE in Macao |
| | For more information on expanding business opportunities, please access IPIM’s “Online Business Matching Service Platform”. |
| |
|
|
---|
|
| | 【Follow-up with the enterprise】 What would you, a travel-lover, choose as a souvenir? Would “alcohol” be one of the options on your souvenir shopping list, especially those products with conceptual or branded packaging that have a sentimental connection to the local products? |
| Enterprise Name: Owl Man Distillery User of the Investor’s “One-stop” Service and its Investment Committee’s cross-departmental co-operation mechanism Service Content: Comprehensive follow-up, including enterprise establishment, organisation of ex-ante technical meetings, and licence application procedures. Successfully obtained the Industrial Licence issued by the Economic and Technological Development Bureau, and now officially in operation. |
| | “Owl Man Distillery” is a distillery based in Macao that specialises in producing Macao-themed gin. Their unique feature is the blend of various Chinese and Western herbal ingredients, highlighting Macao’s originality. Their products are available for the consignment of sales in multiple retail shops in Macao. Customers can also order them online. For the owner of “Owl Man Distillery”, who has a passion for gin, the company’s goal is to allow guests to savour every moment of Macao when tasting their gin, enabling visitors from both Eastern and Western cultures to take home this distinctive flavour. Recognising the promising market prospects in Macao and the policy opportunities arising from Macao’s participation in the Guangdong-Macao In-Depth Co-operation Zone in Hengqin and the Greater Bay Area development, the decision was made to establish the production factory in Macao. In fact, according to the statistics from the DSEC of the Macao SAR Government, the total export value of alcoholic beverages reached MOP318.3 million from January to October 2023 in the major product categories, indicating that the sales of alcoholic beverages extend beyond the local Macao market. Currently, the “Owl Man Distillery” is planning to develop new products such as whisky, vodka, or rum to seize expansion opportunities. Additionally, they actively participate in various MICE events to promote their unique Macao-themed gin through different channels to travellers from around the world. Furthermore, the “Owl Man Distillery” has joined the IPIM’s “Macao Ideas”, which gathers approximately 1,700 products from over 100 enterprises categorised as “Made in Macao”, “Macao Brand” and “Macao Design”. This provides opportunities for professional groups to visit from time to time, thus expanding the distillery’s exposure to potential buyers. |
| | For more information, visit the IPIM Services |
| |
|
|
---|
|
Macao Trade and Investment Promotion Institute Address: 1/F and 2/F of the office building of the Complex of Commerce and Trade Co-operation Platform for China and Portuguese-speaking Countries in Rua Sul de Entre Lagos, Macao Website: https://www.ipim.gov.mo E-mail: ipim@ipim.gov.mo Tele: (853) 2871 0300 Fax: (853) 2859 0309 © copyright 2023 IPIM.All rights reserved (Disclaimer) If you want to stop receiving these emails, please click here to unsubscribe. |
| |
|
|
---|
|
|
|