Executive Summary
This research study was conducted with three main objectives.First, the research aimed at investigating the British handmade crafts market and Zuza’s positioning strategy by evaluating the market size and growth as well as the key players including Zuza’s main competitors. Secondly, the study intended to investigate the potential customer bases of homemade crafts goods in the British home-made crafts industry. The objective was achieved by exploring the target demographics for the product, assessing the relevance of different sustainability criteria to customers, evaluating Zuza Trading’s ethical certifications, and investigating the relevance of the product’s origin. Finally, the research investigated the company’s current distribution and marketing strategy by examining the firm’s most effective distribution channels as well as its ideal communication channels to connect effectively with customers.
The study employedsecondary and primary research methods to achieve its aims. The secondary research was used to investigate the handcrafted products’ market size and the key players in the industry. The approach was also useful for evaluating Zuza’s top ethical trade criteria, current marketing plan, distribution strategy, and top competitors. Secondary research, on the other hand, was critical for analyzing the first research questions. It involved the use of SPSS to examine the data collected through street interviews and web-based questionnaires. The interview engaged150 participants while the online survey helped to receive data from more than 154 respondents.
The results from the secondary research illustrate that British homemade crafts industry has grown significantly in regards to its size. The UK’s import data revealed that the sector accounts for 1.35% of the total exports. The industry has many participants with Ethnic supplies, Shanti Shanti colors of Nepal, Tilnar Art, Sunlovers, Namaste, Green Tulip, Shared Earth, Spark Etail Limited, Folksy, and Ethical Shop as Zuza’s main competitors. Zuza uses the internet to communicate with its customers. 68% of the company’s clientsuse social media to access advertisements.
The findings from primary research people across different demographics buy handcrafted products usually for special occasions. Additionally, the sustainability analysis shows that consumers favor products, which are ethically produced, socially beneficial, and environmentally friendly. However, an evaluation of the Country of Origin and Certifications illustrated that most consumers purchase Zuza Trading’s products without considering where or not the products were made in the UK.
Based on these findings, various recommendations were made. First, Zuza Trading needs to provide the market share in its website to allow researchers to examine the firm’s current positioning and compare with other competitors. Secondly, the organization should focus on increasing the range of its products to attract more customer. Moreover, Zuza Trading needs to put the product’s advertising on the front page of its website. The firm needs to register first-time customers who purchase its products online. Finally, for advertisement, Zuza Trading should post its Instagram link on its website to increase the followers.
The research had a few limitations, which could compromise the validity of its findings. First, it was difficult to find information on ethically produced handcrafted products due to the market being very niche. Moreover, the study relied on some old sources whose information could lack credibility. Furthermore, having a balance of age groups was another limitation, as well as the potential confusion of the online respondents, were significant challenges.
Conclusion
In summary, it is evident that Zuza Trading has become one of the most successful businesses in the British Handmade-Crafts. Apart from working with individuals with disabilities and promoting environmental awareness, Zuza Trading is excelling the handcrafted home decor and accessories business. However, British Handmade-Crafts is not well understood in regards to its size, growth, key players, and competition. Because of this lack of data to evaluate and understand the market conditions, decision-making remains a challenging task for Zuza Trading. Thus, this research makes a significant contribution to the British Handmade-Crafts industry. In particular, the findings of the study are vital for Zuza Trading to deepen its understanding of the market.
By employing secondary and primary research methods, the study has successfully achieved its objectives. First, the results suggest to Zuza Trading that British homemade crafts industry still offers significant success opportunities for fast-growing businesses. As seen in the research, the market is growing fast as handmade-crafts are already making a substantial contribution (1.35%) to the country’s exports. Indeed, the sector has many firms including Ethnic supplies, Shanti Shanti colors of Nepal, Tilnar Art, Sunlovers, Namaste, Green Tulip, Shared Earth, Spark Etail Limited, Folksy, and Ethical Shop, which are Zuza’s main competitors. Accordingly, while Zuza Trading should expect to arise in the level of competition in the future, chances of success are not depleted for the company.
Currently, many of Zuza Trading customers depend on the company’s website and social media to interact with the business. Therefore, Zuza Trading can make use of the internet to communicate with its clients. Indeed, a critical evaluation of the competitors shows they enjoy some advantages over Zuza Trading. However, Zuza’s websites still place it at the top as many existing and potential consumers favor the firm’s webpage due to its attractive graphics and multimedia, beautiful color, clarity, ease of navigation, and trustworthiness. This creates an opportunity for Zuza Trading to employ social media/internet to launch any advertising activities and communicate with the public.
Moreover, ethical homemade craft market analysis suggested that consumers are shifting towards more sustainable options. The increasing concern for the environment causes the trend. Besides environmental consciousness, the research further illustrates that tax affairs and the drive for ethical sourcing tend to favor the new trend. Furthermore, from the primary research, it is evident that the majority of respondents buy handcrafted products for special occasions. However, a few of them purchase handcrafted at least once a month. This shows that people like to shop these kinds of products at a slow pace which they can slowly choose their desired outcomes.
On the other hand, in regards to country of origin and certifications, it seen that consumers tend to be less concerned about where a product is made. Thus, Zuza Trading can readily market its products that are not made in the UK in the UK’s market even though a few consumers believe that the country of origin does matter in their purchasing decision.
Do you need high quality Custom Essay Writing Services?