Table of Contents
Overview
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- What you need to know
- Covered in this report
- Demographic classifications
- Household income
Executive Summary
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- The market
- A booming overseas cruise market
- New players drive market growth, while lack of variety in destinations brings potential risk
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- 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
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- 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
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- Figure 3: Experience of cruising in the last 2 years, January 2017
- Promising future for overseas cruises, tier one cities are targets
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- Figure 4: Cruising intention in the next 12 months, January 2017
- Shorter travel time and lowering the price barrier
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- Figure 5: Top 3 barriers to overseas cruising in the next 12 months, January 2017
- Couples and families are key targets
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- Figure 6: Overseas cruising companions, January 2017
- Destinations and on-board activities are both important, and cost is less relevant
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- Figure 7: Appealing features of overseas cruising, January 2017
- Holiday booking websites are the most important information channel
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- Figure 8: Information channels used to find out about cruising, January 2017
- Mintropolitans are more likely to take overseas cruises with families
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- Figure 9: Experience with and intention for cruising, by consumer classification, January 2017
- What we think
Issues and Insights
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- 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
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- China’s overseas market enjoyed a rapid growth
- New players in the market drive growth, while lack of diversity is potential risk
Market Size
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- Rapid growth of passenger volume
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- Figure 10: Overseas cruise passenger volume in China, 2011-16
- Consumer expenditure on cruises has risen in recent years
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- Figure 11: Overseas cruise market value in China, 2011-16
Market Factors
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- New ports, new brands and new vessels drive market growth
- Cruise companies rely heavily on travel agencies to drive sales
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- 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
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- 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
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- 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
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- Figure 13: Passenger volume share of cruise companies in China, 2015-16
Competitive Strategies
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- More international brands entering China
- Key marketing message of leading brands
- Highlighting a premium experience
- Expedition lines to inject excitement
Who’s Innovating?
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- Wearable technology for easy access to cruises
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- Figure 14: Ocean Medallion, March 2017
- Showcasing vessels with VR
- With a taste of history and culture
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- 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
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- 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
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- Over half of the respondents have cruised overseas
- Cruising from overseas ports is not to be overlooked
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- 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
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- Figure 17: Experience of cruising in the last 2 years, by monthly household income, January 2017
- Typical cruise takers
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- Figure 18: Experience of cruising in the last 2 years, by age, January 2017
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- 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
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- Figure 20: Experience with cruising among UK and US consumers, October 2016 (UK) and June 2015 (US)
Future Cruising Intention
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- Growth potential for overseas cruises
- Including a cruise option in overseas travel to increase appeal
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- Figure 21: Cruising intention in the next 12 months, January 2017
- Tier one city consumers are target for overseas cruises
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- Figure 22: Cruising intention in the next 12 months, by city tier, January 2017
- There is potential among married consumers without kids
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- 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
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- Figure 24: Cruising intention in the next 12 months, by experience in the last 2 years, January 2017
Barriers to Overseas Cruising
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- Shorter trips may appeal
- Lowering the price barrier
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- Figure 25: Barriers to overseas cruising in the next 12 months, January 2017
- Converting non-intenders by building up word-of-mouth reputation
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- Figure 26: Non-intenders for overseas cruises, by demographics and information channels, January 2017
Cruising Companions
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- A romantic way of travelling
- Customised trips for different companions
- An escape from daily routine appeals to parents
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- Figure 27: Overseas cruising companions, January 2017
- Consumers with high MHI tend to be more open to different types of cruising trips
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- Figure 28: Overseas cruising companions, by demographics, January 2017
Appealing Features
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- Destinations are as important as on-board activities, and consumers are not very price-sensitive
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- Figure 29: Appealing features of overseas cruising, January 2017
- 20-24-year-olds are more likely to be attracted by the destination
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- Figure 30: Appealing features of overseas cruising, by age and household income, January 2017
Information Channels
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- Holiday booking websites are the most important information channel
- Social media and other entertainment shows may trigger consumers’ interest
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- 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
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- Figure 32: Information channels used to find out about cruising, by demographics, January 2017
Meet the Mintropolitans
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- Domestic cruise and overseas cruises are both popular among Mintropolitans
- Mintropolitans show high intention for cruising, especially overseas
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- Figure 33: Experience of and intention for cruising, by consumer classification, January 2017
- Mintropolitans are more likely to cruise with families
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- Figure 34: Overseas cruising companions, by consumer classification, January 2017
- On-board activities are the main attraction to Mintropolitans
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- Figure 35: Appealing features of overseas cruising, by consumer classification, January 2017
- Cruise company websites are more important to Mintropolitans
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- Figure 36: Information channels used to find out about cruising, by consumer classification, January 2017
Appendix – Market Size
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- Passenger volume of China’s overseas cruise market
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- Figure 37: Overseas cruse passenger volume in China, 2011-16
- Market value of China’s overseas cruise market
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- Figure 38: Overseas cruse market value in China, 2011-16
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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