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Description

Description

“Theme parks and amusement parks are estimated to see slower but still healthy growth in terms of visitor volume. The market will become more mature. Establishing a well-known brand will be critical for future competitiveness. Park brands can leverage products that source inspiration from parks’ IPs to grow sales, such as IPs’ storylines. Consumers’ passion for learning knowledge opens up the possibility for innovative in-park attractions and retail sites.”
– Saskia Zhao, Research Analyst

This report looks at the following areas:

  • Park brands can fend off competition from resorts with a well-differentiated image
  • Consumers’ interest in learning new knowledge inspires creative product retail
  • Upgraded in-park food and beverages stay true to IP storylines

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Covered in this report
      • Executive Summary

          • The market
            • Market shifts to a more rational growth
              • Figure 1: Visitor volume and consumer spending on theme parks and amusement parks, 2014-18
            • Land parks have broadly and deeply penetrated the market
              • New park development faces higher standards…
                • …but travel and leisure entertainment sectors enjoy favourable market conditions
                  • Figure 2: Consumer spending on travel and leisure entertainment, 2016-18
                • Theme parks and amusement parks expect slower but still healthy growth in future
                  • Companies and brands
                    • Market concentration level is moderate
                      • Figure 3: Market share of theme parks and amusement parks, by visitor volume, 2016-18
                    • Ocean theme parks try a new model: the entertainment town
                      • Fantawild expanded market share by opening new parks
                        • Creative products open door for sales growth
                          • Innovative resorts derive inspiration from theme parks and amusement parks
                            • The consumer
                              • Not many first-time park visitors in the market
                                • Figure 4: Parks visited, August 2019
                              • Consumers visit more than once a year
                                • Figure 5: Visitation frequency, August 2019
                              • Consumers are enticed by both attractions and in-park services
                                • Figure 6: Attractive park features, August 2019
                              • Consumers associate parks with joyfulness, memories and trendy activities
                                • Figure 7: Attitudes towards theme parks and amusement parks – park image, August 2019
                              • Parks are suitable for dating and socialising with friends for post-90s
                                • Figure 8: Attitudes towards theme parks and amusement parks – visitation context, August 2019
                              • Theme parks and amusement parks are preferred leisure option during longer holidays
                                • Figure 9: Interested holiday activities during different holiday types, August 2019
                              • Consumers’ willingness to spend time on travel suggests positive market conditions
                                • Figure 10: Leisure time allocation, August 2019
                              • What we think
                              • Issues and Insights

                                • Park brands can fend off competition from resorts with a well-differentiated image
                                  • The facts
                                    • The implications
                                      • Consumers’ interest in learning new knowledge inspires creative product retail
                                        • The facts
                                          • The implications
                                            • Figure 11: Activities offered at Fico Eataly World, 2019
                                          • Upgraded in-park food and beverages stay true to IP storylines
                                            • The facts
                                              • The implications
                                                • Figure 12: Coca-Cola special edition inspired by Star Wars
                                            • The Market – What You Need to Know

                                              • Visitor volume growth becomes more rational
                                                • Consumer spending growth is also affected
                                                  • Land parks penetrate deeply and widely in the market
                                                    • Higher standards for new theme park development
                                                      • Positive outlook in travel and leisure entertainment sectors
                                                        • Market expects to see slower but still healthy growth
                                                        • Market Size and Forecast

                                                          • The market is shifting toward rational volume growth
                                                            • Figure 13: Number of visitors to theme parks and amusement parks in the China market, in million person-times, 2014-18
                                                          • Consumer spending is largely determined by visitor volume
                                                            • Figure 14: Spending on theme parks and amusement parks in the China market, 2014-18
                                                          • Visitor volume growth rate expected to slow down
                                                            • Figure 15: Forecast of visitors to theme parks and amusement parks in the China market, in million person-times, 2019-24 (est)
                                                          • Slower growth of consumer spending
                                                            • Figure 16: Forecast of consumer spending on theme parks and amusement parks in the China market, in billion RMB, 2019-24 (est)
                                                        • Market Factors

                                                          • Increasing demand in both travel and leisure entertainment
                                                            • Figure 17: Consumer spending on travel and leisure entertainment, 2016-18
                                                          • Land parks penetrate deeply in the market
                                                              • Figure 18: Percentage share of land parks, by city administrative division, 2019
                                                            • Higher standards of park quality
                                                            • Key Players – What You Need to Know

                                                              • Market is moderately concentrated
                                                                • Ocean theme parks try out a new ‘open entertainment town’ model
                                                                  • Many features more important than in-park performances to attract consumers
                                                                    • Creative product sales open a door for growing sales
                                                                      • Resorts highlight relaxing holidays mixed with fun activities
                                                                      • Market Share

                                                                        • Competition concentrated among key companies
                                                                          • Figure 19: Market share of theme parks and amusement parks, by visitor volume, 2016-18
                                                                      • Competitive Strategies

                                                                        • Brands trial ocean-themed ‘open entertainment towns’ in place of theme parks
                                                                          • Figure 20: Percentage share of ocean theme parks and pavilions, by city administrative division, 2019
                                                                          • Figure 21: Marine animal tunnel at Tianjin Haichang Ocean Park
                                                                        • In-park performances are adopted by parks
                                                                          • Figure 22: In-park performances offered by leading theme park and amusement park brands, 2019
                                                                          • Figure 23: Reasons to visit a theme park, August 2017
                                                                          • Figure 24: Preference on domestic spending categories, November 2017
                                                                        • Expansion by opening new parks
                                                                          • Figure 25: Openings of new theme parks among leading companies in the China market, by number of parks, 2013-19
                                                                        • Opportunities in creative product sales
                                                                          • Figure 26: Haichang Ocean Park Holdings Ltd’ park and resort segment revenue, 2018
                                                                          • Figure 27: Creative product retail stores by Songcheng Performance Development Co., Ltd
                                                                      • Who’s Innovating?

                                                                        • Hotel groups mimic theme parks in the design of new resorts
                                                                          • Figure 28: Senbor Resort, 2019
                                                                        • Vegan dining concept added to US theme parks
                                                                        • The Consumer – What You Need to Know

                                                                          • Almost 80% of consumers have been to parks
                                                                            • Majority of consumers visit parks more than once
                                                                              • Consumers with children aged 0-12 are key visitors of the three leading brands
                                                                                • Theme parks and amusement parks are associated with happiness, memories and trendy activities
                                                                                  • Attractions and services are important features motivating park visitation
                                                                                    • Theme parks and amusement parks are preferred leisure option for longer holidays
                                                                                      • Willingness to spend time on travelling is positive sign
                                                                                      • Parks Visited

                                                                                        • Not many first-time park visitors in the market
                                                                                          • Figure 29: Parks visited, August 2019
                                                                                        • Consumers seek visitation experiences at different park brands
                                                                                          • Figure 30: Visitors to different park brands, August 2019
                                                                                        • Three leading brands all target families with children
                                                                                          • Figure 31: Visitors to Fantawild, by city, August 2019
                                                                                          • Figure 32: Park visitation of three key brands, by age group of children, August 2019
                                                                                      • Visitation Frequency

                                                                                        • Nine out of 10 consumers have visited more than once
                                                                                          • Figure 33: Visitation frequency, August 2019
                                                                                        • Consumer profile of high-frequency visitors
                                                                                          • Figure 34: Visitation frequency – have visited 4 times or more, by gender and generation, August 2019
                                                                                      • Attractive Park Features

                                                                                        • Consumers are lured by attractions and services too, not just IPs
                                                                                          • Figure 35: Attractive park features, August 2019
                                                                                          • Figure 36: Preference for attractions styles, by generation, August 2019
                                                                                        • In-park service is the top mention among post-90s
                                                                                          • Figure 37: Top three attractive park features for post-90s, August 2019
                                                                                          • Figure 38: Attractive park features – service-related features, by generation, August 2019
                                                                                        • Consumers have similar preference for cartoon and non-cartoon themes
                                                                                          • Figure 39: Consumers’ preferences toward themes, August 2019
                                                                                        • Good services help entice mid- and high-frequency consumers
                                                                                          • Figure 40: Top three attractive park features, by consumers’ visitation frequency, August 2019
                                                                                      • Attitudes towards Theme Parks and Amusement Parks

                                                                                        • Image of parks: happiness, memories and trendy leisure time activities
                                                                                          • Figure 41: Attitudes towards theme parks and amusement parks – park image, August 2019
                                                                                        • Being trendy brings ideas for in-park attractions
                                                                                          • Children are the most mentioned companions when visiting parks
                                                                                            • Figure 42: Attitudes towards theme parks and amusement parks – visitation context, August 2019
                                                                                          • Socialising with friends and dating are pervasive among post-90s
                                                                                            • Figure 43: Attitudes towards theme/amusement parks – selected items, by generation, August 2019
                                                                                            • Figure 44: Interested holiday activities at the weekend, August 2019
                                                                                        • Interested Holiday Activities during Different Holiday Types

                                                                                          • Consumers prefer to go away rather than take a staycation
                                                                                            • Figure 45: Interested holiday activities during different holiday types – stay at home, August 2019
                                                                                          • Consumers prefer different leisure activities during different holiday types
                                                                                            • Figure 46: Interested holiday activities during different holiday types, August 2019
                                                                                        • Leisure Time Allocation

                                                                                          • Keywords for leisure time: wellness, travel and knowledge
                                                                                            • Figure 47: Leisure time allocation, August 2019
                                                                                          • Female consumers tend to spend more time travelling domestically
                                                                                            • Figure 48: Leisure time allocation – spend more time on domestic travel, by demographics, August 2019
                                                                                            • Figure 49: Leisure time allocation – spend more time on domestic travel, by family structure, August 2019
                                                                                          • Mid- and high-frequency visitors willing to spend more time on domestic travel
                                                                                            • Figure 50: Leisure time allocation – domestic travel, by visitation frequency, August 2019
                                                                                        • Meet the Mintropolitans

                                                                                          • High penetration of parks among MinTs
                                                                                            • Figure 51: Parks visited among MinTs, August 2019
                                                                                          • MinTs are more experienced theme park and amusement park consumers
                                                                                            • Figure 52: Visitation frequency, by consumer classification, August 2019
                                                                                          • MinTs have a passion for domestic travel
                                                                                            • Figure 53: Leisure time allocation – domestic travel, by consumer classification, August 2019
                                                                                        • Appendix – Methodology and Abbreviations

                                                                                          • Methodology
                                                                                            • Fan chart forecast
                                                                                              • Abbreviations

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