II.
MARKET ANALYSIS
1. Target market segmentation
1.1 Customer segments
Individual customers visiting shopping centers for various reasons form a significant
portion of the target market. These include shoppers who may require motorcycle washing
services while they shop, working professionals who need such services during work hours
or breaks, entertainment seekers who might use the motorcycle washing service during their
leisure time, and local residents who live near the shopping center and can easily access the
service.
Corporate customers include companies leasing space within the shopping center that
might offer motorcycle washing as a benefit for their employees and office employees
working in nearby office buildings.
1.2 Customer needs and behavior
Customers primarily seek convenience and speed, desiring a quick, efficient
motorcycle washing service that can be completed while they engage in other activities at
the shopping center. They demand high-quality services that ensure their motorcycles are
well-cared for without any damage and offer comprehensive care. Pricing is also a crucial
factor, as customers look for a balance between quality and cost.
Customers tend to prefer booking services in advance via mobile apps and using
electronic payments to save time. They often choose to wash their motorcycles during their
free time while engaging in other activities at the shopping center.
1.3 Customer characteristics
Key characteristics of the target customers include young, dynamic individuals aged
18-35 who primarily use motorcycles for transportation and prefer modern, convenient
services. Additionally, individuals aged 36-50 with stable incomes use motorcycles for daily
commuting and personal or family activities.
Men tend to own and use motorcycles more frequently and show greater interest in
vehicle maintenance, whereas women seek convenience and high-quality services and may
be attracted to integrated shopping services. Middle to high-income individuals are capable
of paying for premium services and typically use motorcycles for daily commuting.
Overall, both men and women are potential customers, with men possibly representing
a higher proportion of motorcycle washing service users.
2. Market size
2.1 Number of motorcycles and shopping centers
Vietnam has one of the highest numbers of motorcycles in the world, serving as the
primary means of transportation in both urban and rural areas, especially in densely
populated cities. In 2022, the estimated number of motorcycles in Vietnam was about 60
million, with approximately 6.7 million in Hanoi alone.
Hanoi has developed 29 modern shopping centers. The number of shopping centers is
rapidly increasing nationwide due to economic growth and urbanization, with hundreds of
large and small shopping centers across the country.
2.2 Population density and income
Urban residents frequently visit shopping centers for shopping, entertainment, and
dining. Large urban areas have high population densities, with Hanoi having approximately
2,398 people per square kilometer according to the 2022 Statistical Yearbook. The average
per capita income in Hanoi in 2022 was 6.4 million VND per month. The average per capita
income in large urban areas is higher than in rural areas, facilitating the development of
convenient services such as motorcycle washing.
2.3 Market penetration potential
The demand for motorcycle washing services at shopping centers is very high due to
the large number of motorcycles and consumer habits. Therefore, the motorcycle washing
service at shopping centers meets the needs for convenience, speed, and efficiency of
customers. Investors can expand motorcycle washing services to various shopping centers to
capitalize on the growth of these systems. Additionally, linking with other service providers
within the shopping center can create more attractive service packages.
3. Market trends and business opportunities
3.1 Market trends
Several trends are shaping the market. High motorcycle ownership driven by urban
development and the rapid growth of the middle class increases the demand for motorcycle
ownership. With a large number of motorcycles, the demand for maintenance and washing
services is also increasing, especially in urban areas. Major cities like Hanoi, Ho Chi Minh
City, Da Nang, and Hai Phong are witnessing strong development of modern shopping
centers. Urban consumers tend to use convenient services during shopping and entertainment
at shopping centers. Many motorcycle washing services have started using technology,
allowing customers to book appointments and pay online. The widespread use of electronic
payment methods such as e-wallets, credit cards, and mobile payments makes the payment
process quick and convenient. Consumers are increasingly interested in environmentally
friendly services. Motorcycle washing services that use recycled water or eco-friendly
cleaning products are gaining popularity.
3.2 Business opportunities
There are numerous opportunities for businesses in this market:
- Offering additional services such as interior cleaning, nano coating, and oil
changes can increase service value and attract more customers.
- Collaborating with stores in the shopping center to create combined service
packages, such as washing motorcycles along with shopping or dining, can also be
beneficial.
- Developing mobile applications that allow customers to book appointments, track
the washing process, and pay online creates a convenient and modern experience.
- Adopting eco-friendly cleaning products and methods to meet the needs of
environmentally conscious customers.
Statistical Publishing House (2022). Population and Employment, 105.
Statistical Publishing House (2022). Health, Culture, Sport, Living standards, Social order,
Safety, Justice and Environment, 1005.
Le Nam (2023). "Develop Hanoi into a commercial center of ASEAN"
