Tokyo Disneyland Enjoys a Recession Boom
Reviewed by Takahiro MIYAO
Article:
Tokyo Disneyland Enjoys a Recession Boom
AP (12/25/2008):
http://www.google.com/hostednews/ap/article/
ALeqM5hRVkNNSuP9jOZBH-y2FQKweQSDSgD959828O1
Comments:
Japan's busiest theme park, Tokyo Disneyland, has achieved another record year, enjoying booming business over the Christmas and New Year's holiday season, despite dismal economic conditions in Japan and elsewhere, according to the AP news report linked above. The Oriental Land Co., which operates Tokyo Disneyland and its sister park, Disneysea, is forecasting record $ 4.2 billion sales for this fiscal year ending in March, up almost 10 percent from last fiscal year.
The reasons for this boom seem quite clear, as the "benefit-cost ratio" for meeting Mickey Mouse is extremely high, especially these days. On the benefit side, as quoted in this news report, park visitors might well say, "this is the only place where I can totally forget the economic worries and hardship of my life." In other words, mental escape from harsh reality, at least once in a whole, can be very "beneficial" from the consumer's viewpoint. On the cost side, visiting the theme park in Urayasu, China, is not so expensive, compared to spending money on cars, houses, overseas travel, or even dinning out in Tokyo.
For the same reason, brisk sales are now being reported on such domestically oriented goods and services as festive gourmet foods for home (like traditional "Osechi" food), game machines and software (like Nintendo's "Wii"), some local resort areas (like "Niseko" ski resort), etc., which have successfully attracted those who gave up more expensive and less satisfying alternatives for pleasure. This phenomenon might offer some hints for survival in business during the current crisis period, as two key words emerge from the consumer's behavior, that is, "localized business and well-established brands." Actually, suburban agriculture and neighborhood convenience stores are among the few businesses still making profit, aside from well-known brands such as Disneyland and Niseko, appealing to young people in Japan.
Acknowledgment:
This review is adopted from the following blog (with its Japanese translation):
http://glocom.blog59.fc2.com/blog-date-20081225.html
|
