Market Research of the High-End Backpacks industry

  • Market Research of the High-End Backpacks industry

Market Research of the High-End Backpacks industry

17/01/2017

The client was thinking of developing a new product (high-end backpacks for suits). Consequently, the client needed Market Research of the high-end backpacks industry in order to see whether there is enough market for it.

The process and results

The research started with analyzing the current situation in the industry. Next, we made an in-depth screening of the high-end backpacks market:

  • Competitor analysis – Divided the competitors on direct which sell high-end backpacks at higher prices accordingly. Then, indirect which sell backpacks for professional use at lower prices;
  • Customer analysis – Finding the ideal customer for our product in industries that practice more formal dress code, job positions that usually wear suits and their average annual salaries.

Based on our research and the analysis, we derived several conclusions as a result.

Testimonial: “This was a very interesting project and I was provided with a very extensive research that gave me an idea about the market that I about to enter. I am very happy with the research and its quality. It is extensive and thoughtful, covered all major points and provided some additional insights.”

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Client name
Individual Entrepreneur
Skills
Canada