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Cruises - China - March 2017

Published By :

Mintel

Published Date : Mar 2017

Category :

Travel Services

No. of Pages : N/A

The overseas cruise market is booming in China. With more players joining the competition, driving awareness and establishing unique identities is vital. There is potential for brands to exploit older consumers. To sustain growth, more destinations should be explored.

Table of Content

OVERVIEW
What you need to know
Covered in this report
Demographic classifications
Household income

EXECUTIVE SUMMARY
The market
A booming overseas cruise market
New players drive market growth, while lack of variety in destinations brings potential risk
Figure 1: Overseas cruse passenger volume in China, 2011-16
Companies and brands
Carnival Corporation and Royal Caribbean are the leading companies
The competition is heating up
Figure 2: Passenger volume share of cruise companies in China, 2015-16
More international brands turning to Chinese market
Better market communication of brands’ key messages is needed
Addressing a premium experience
Expedition lines bring excitement to the market
Innovation on cruises
The consumer
More than half of respondents claim to have cruised overseas, and potential lies within the over-55s
Figure 3: Experience of cruising in the last 2 years, January 2017
Promising future for overseas cruises, tier one cities are targets
Figure 4: Cruising intention in the next 12 months, January 2017
Shorter travel time and lowering the price barrier
Figure 5: Top 3 barriers to overseas cruising in the next 12 months, January 2017
Couples and families are key targets
Figure 6: Overseas cruising companions, January 2017
Destinations and on-board activities are both important, and cost is less relevant
Figure 7: Appealing features of overseas cruising, January 2017
Holiday booking websites are the most important information channel
Figure 8: Information channels used to find out about cruising, January 2017
Mintropolitans are more likely to take overseas cruises with families
Figure 9: Experience with and intention for cruising, by consumer classification, January 2017
What we think

ISSUES AND INSIGHTS
A booming overseas cruise market
The facts
The implications
Appealing to the older consumers
The facts
The implications
The opportunities for domestic cruises
The facts
The implications

THE MARKET – WHAT YOU NEED TO KNOW
China’s overseas market enjoyed a rapid growth
New players in the market drive growth, while lack of diversity is potential risk

MARKET SIZE
Rapid growth of passenger volume
Figure 10: Overseas cruise passenger volume in China, 2011-16
Consumer expenditure on cruises has risen in recent years
Figure 11: Overseas cruise market value in China, 2011-16

MARKET FACTORS
New ports, new brands and new vessels drive market growth
Cruise companies rely heavily on travel agencies to drive sales
Figure 12: Poster of UTour booking whole ships for trips all-year-round, Shanghai, February 2016
Homogenous destinations bring potential risk

KEY PLAYERS – WHAT YOU NEED TO KNOW
Carnival Corporation leads, followed by Royal Caribbean
New players brought more competition
International brands focus on developing Chinese market
Premium experience is a common focus for cruise brands
Expedition cruise lines draw attention
Innovation highlights

MARKET SHARE
Carnival Corporation leads in China
Royal Caribbean owns the largest ships in China
New brands, vessels and cruise lines heat up the competition
A lack of domestic players
Figure 13: Passenger volume share of cruise companies in China, 2015-16

COMPETITIVE STRATEGIES
More international brands entering China
Key marketing message of leading brands
Highlighting a premium experience
Expedition lines to inject excitement

WHO’S INNOVATING?
Wearable technology for easy access to cruises
Figure 14: Ocean Medallion, March 2017
Showcasing vessels with VR
With a taste of history and culture
Figure 15: Merchandise from Imperial Palace Museum on Ovation of the Seas, June 2016
Variety shows on the cruise to increase appeal

THE CONSUMER – WHAT YOU NEED TO KNOW
Future intention for cruising is high
Overseas cruises should target consumers with high MHI, and there is potential among the over-55s
Travel time and cost are major barriers to overseas cruising
Partners and families are the most likely cruising companions
On-board activities and destinations are both important
OTAs, travel agencies, company websites and social networks are most important information channels

EXPERIENCE OF CRUISING
Over half of the respondents have cruised overseas
Cruising from overseas ports is not to be overlooked
Figure 16: Experience of cruising in the last 2 years, January 2017
Overseas cruises are more popular among those with MHI of RMB 18,000 or above
Figure 17: Experience of cruising in the last 2 years, by monthly household income, January 2017
Typical cruise takers
Figure 18: Experience of cruising in the last 2 years, by age, January 2017
Figure 19: Experience of cruising in the last 2 years, by children in the household and company type, January 2017
A much younger market compared to the UK and US
Figure 20: Experience with cruising among UK and US consumers, October 2016 (UK) and June 2015 (US)

FUTURE CRUISING INTENTION
Growth potential for overseas cruises
Including a cruise option in overseas travel to increase appeal
Figure 21: Cruising intention in the next 12 months, January 2017
Tier one city consumers are target for overseas cruises
Figure 22: Cruising intention in the next 12 months, by city tier, January 2017
There is potential among married consumers without kids
Figure 23: Cruising experience in the last 2 years VS cruising intention in the next 12 months, by children in the household, January 2017
Past experience drives future intention
Figure 24: Cruising intention in the next 12 months, by experience in the last 2 years, January 2017

BARRIERS TO OVERSEAS CRUISING
Shorter trips may appeal
Lowering the price barrier
Figure 25: Barriers to overseas cruising in the next 12 months, January 2017
Converting non-intenders by building up word-of-mouth reputation
Figure 26: Non-intenders for overseas cruises, by demographics and information channels, January 2017

CRUISING COMPANIONS
A romantic way of travelling
Customised trips for different companions
An escape from daily routine appeals to parents
Figure 27: Overseas cruising companions, January 2017
Consumers with high MHI tend to be more open to different types of cruising trips
Figure 28: Overseas cruising companions, by demographics, January 2017

APPEALING FEATURES
Destinations are as important as on-board activities, and consumers are not very price-sensitive
Figure 29: Appealing features of overseas cruising, January 2017
20-24-year-olds are more likely to be attracted by the destination
Figure 30: Appealing features of overseas cruising, by age and household income, January 2017

INFORMATION CHANNELS
Holiday booking websites are the most important information channel
Social media and other entertainment shows may trigger consumers’ interest
Figure 31: Information channels used to find out about cruising, January 2017
OTAs appeal to different age groups, while travel agencies are popular among those aged in 30s and 40s
Figure 32: Information channels used to find out about cruising, by demographics, January 2017

MEET THE MINTROPOLITANS
Domestic cruise and overseas cruises are both popular among Mintropolitans
Mintropolitans show high intention for cruising, especially overseas
Figure 33: Experience of and intention for cruising, by consumer classification, January 2017
Mintropolitans are more likely to cruise with families
Figure 34: Overseas cruising companions, by consumer classification, January 2017
On-board activities are the main attraction to Mintropolitans
Figure 35: Appealing features of overseas cruising, by consumer classification, January 2017
Cruise company websites are more important to Mintropolitans
Figure 36: Information channels used to find out about cruising, by consumer classification, January 2017

APPENDIX – MARKET SIZE
Passenger volume of China’s overseas cruise market
Figure 37: Overseas cruse passenger volume in China, 2011-16
Market value of China’s overseas cruise market
Figure 38: Overseas cruse market value in China, 2011-16

APPENDIX – METHODOLOGY AND ABBREVIATIONS
Methodology
Abbreviations

List of Table

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