1.0 Market Research
Crumlin and its neighboring villages, such as Glenavy and Ballindery, have grown immensely in their populations, economy, and infrastructures. This has been facilitated by the establishment of the Dublin Corporation, which led to the construction of more than 702 houses in Crumlin. High-end cocktail bars in Crumlin have grown recently, with an increase in the number of drinks and beers in the area. Crumlin has developed to be a residential center with a population of about 4172 per the 2022 country census. Crumlin has grown because of the location of the biggest children’s hospital in Ireland. It has also grown immensely due to its location near the urban Centre, making it suitable for residence. The high population provides a good market for beers and high-end cocktail bars. Of its population, over 50% are adults who are allowed constitutionally to consume alcohol (McGlinchey et al., 2022).
2.0 Customer analysis
The potential customers of the high-end cocktail bars in Crumlin, Glenavy, and Ballindery are adults aged eighteen years and above who are part of the working class in the country. The working group has extra savings that they use for luxuries in high-end cocktail bars. In Crumlin, a survey by the health ministry observed that about 81% of adults aged eighteen years and above in part consume cocktails and beers (Ansari et al., 2013). Of the 81 percent, 58% of adults drink cocktails and beers once or twice weekly. This survey shows that the part has a better market for high-end cocktails and beer. The consumption of cocktails and beers has increased relatively, considering the 2017 health statistics that stated that the percentage of adult consumers was 77%. The consumption of cocktails is expected to increase in the coming years due to increased economic change and population (Naughton et al., 2021). Some consumers are addicted to consumption and account for 22% of the users; therefore, bars have an endless number of consumers who must attend daily. The most consumed is Guinness and Black n Black, with the most consumers.
3.0 Competitor analysis
Crumlin, Glenavy, and Ballindery are neighbors and are small villages that have developed to be significant. They have developed because of population growth, acting as residential areas for the urban population. Crumlin is developing as a residential area, so the number of cocktail bars is increasing. The village was a rural one and had few numbers of bars due to the low population. There are various cocktails bars in Crumlin and areas near the region where residents go; they include; Eleanora’s Bar and Lounge and the Black Forge Inn, among others. Glenavy village, a neighborhood to Crumlin, has bars like Tipsy Bird, Crooked Glen, Duke of York, and Flisky Bar, among others. Ballindery is also a village neighbor to Crumlin and has cocktail bars and others near it. They include Mcaleers Bar, Hagans Bar, and Bar Bella. The villages have had few bars but are now developing, with only a few pioneer bars available that can compete with new emerging bars due to their experience in service. For a cocktail bar to survive in the region, it must be aware of the consumer’s needs and develop a unique technology that could suit the experience of the already established bars (Lami et al., 2021). Advanced technology and innovativeness are other factors that could contribute to the success of a high-end cocktail bar in the region, as people are attracted to innovations and new and unique things.
Quality and creativity is a competitor analysis where high-end bars that provide the best quality and innovative products gain the best. Due to already existing bars, a new bar should be fully armed with competitive strategies to survive and grow. Consumers look for bars with new and unique products, and this is an analysis that determines the competitiveness of bars in the region. Services provided by high-end bars are another factor determining the competitiveness of a bar operating in Crumlin, Glenavy, and Ballinderry. Bars that provide exceptional high-level services have the upper hand in the competition and enjoy much in the market compared to others (Naughton et al., 2021).
4.0 Market Trends
The following trends in the market facilitate the high-end cocktail bars in Crumlin.
- Innovation and creativity are among the trends driving the high-end cocktail bars in the region. For a bar to succeed in the competitive market, it must adopt new ideas and products that are unique. Introducing new cocktails of high quality and quality services could drive more customers into their bars, thus succeeding in the competitive market.
- Experience in cocktail bars is another trend in the market that influences survives the market due to competition. Consumers are driven and attracted by the experience of a bar, highly experienced bar attendees provide the best services needed and therefore attract more.
- Technology is another trend in the market that influences how bars in the region survive and succeed. Technology helps to increase the quality of products and services provided. Quality is one of the things that contribute to consumer attraction; a bar should therefore adopt the best technology that affects the cocktails and the services provided to consumers.
- Sustainability is a trend that influences the running and succession of a cocktail bar. Cocktail bars focus on the best strategies for using the best cocktails, including the traditional ones. They are also focused on using the ingredients provided locally and reducing wastage; this aims at reducing the cost of production for cocktails.
5.0 Demand for upscale bars
There has been an increase in demand for High-end cocktail bars in Crumlin and its neighboring villages, such as Glenavy and Ballindery. The high demand for bars has been facilitated by several factors, which include the rise in the number of people. An increase in population increases the demand for commodities, which includes luxuries such as cocktails. From the Health Ministry survey, consumers increased by over two percent from 2019 to 2020. The following factors contribute to the demand for upscale bars (Shebeha et al., 2021).
- Increase in disposable income- Crumlin’s economy has grown relatively due to its location near the urban Centre; this has increased the amount of capital earned, increasing the surplus amount of capital by people. The surplus capital is used for luxuries by the citizens, which includes upscale bars.
- Location of the biggest children’s hospital in the area- Crumlin hosts the most significant children’s home in Ireland, which increases the daily activities of the area.
- The growth of the country’s towns contributes to the demand for upscale bars. Urbanization creates a suitable environment for investment where the money supply is relative; this necessitates the need for quality services and high-table products, thus, the demand for upscale bars (McGlinchey et al., 2022).
6.0 SWOT Analysis
The SWOT analysis shows the strengths, weaknesses, opportunities, and threats of entry for an upscale cocktail bar.
– A growing number of consumers and the population
– Rapidly growing economy
– Few numbers of cocktail bars
– Low levels of unemployment
– High numbers of cocktail bars
– Already established bars
– the potential market for products
– Unvested parts in cocktail bars
– Huge growing economy
– Experienced-based bars in the region.
– High competition in the market.
– Government regulations in the industry.
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