Summary of our successful case of community development and retailing:
- Theme & Background of the Case
- Business Challenges and Challenge Statement of Project
- Project Scope
- Transformation Strategies and Business Results
The theme of the case:
Community development for Kwun Tong district of Hong Kong
Background of the case:
The Urban Renewal Authority (URA) Kwun Tong Town Centre Redevelopment Project saw over a hundred hawkers relocated to Yue Man Hawker Bazaar (YMHB) of Yue Man Square in 2021.
The number of shoppers was low, and business dropped dramatically after relocation.
Challenge Statement of the Transformation Project:
How to create a memorable experience for Kwun Tong Yue Man Hawker Bazaar
Types of Transformations:
Community development and business transformation of retailing
Duration of Project:
4-Phase for Digital and Service Transformations
Phase 1: Discover
Through Stakeholder Mapping Techniques, the teams discovered two types of stakeholders – non-user and user. Also, 5 online expert interviews, several times of on-site observations, and over 90 on-site empathy interviews were also conducted.
Phase 2: Define
According to non-user-based stakeholders, their perceived root causes were insufficient promotion, lack of trendy products, competition from e-commerce, and inconspicuous signage.
However, the team identified additional shoppers’ needs through Persona Development Techniques. Based on the InnoEdge User Emotional Measurement System, the team found that YMHB shoppers had negative feelings about their experience.
• Lack of clear signage for the entrances
• Lack of nostalgic environment from previous Kwun Tong bazaar
• Business hours of hawkers were inconsistent
Phase 3 & 4: Develop & Deliver Solutions
The teams developed both strategic and executive-level suggestions through several rounds of ideation.
On a strategic level, the business (or operation) model and marketing strategies of YMHB were considered. The teams believed that historical value was an irreplaceable advantage of YMHB. They proposed the “Made by Kwun Tong” brand to reframe shopper perceptions from old-school products to classic or nostalgic products.
At the execution level, the teams undertook the Idea Prioritization process to select the most valuable initiatives. Around 30 initiatives were finalized and classified into three categories: Environment, Facilities, and Product Display Arrangements & Selling Process.
The teams gave a formal presentation to stall owners with 30 suggestions for improvements in the action blueprint. They agreed with the design-research findings and planned to implement our suggestions. In addition, the teams will support them with rapid prototyping, user testing, and solution launching.
Key Performance Indicator(s) of the Project:
- Shopper growth rate
- Revenue of the stalls
Breakthrough Business Results
Based on the InnoEdge User Emotional Measurement System, the team believed the shopping experience would be enhanced from negative to positive.
In other words, the predicted emotional impact of the YMHB business transformation project is approximately a 48% enhancement of the shopping experience.
Our Contribution to the education sector
As one of the market leaders of Business Design Thinking in Hong Kong, it is our pleasure to contribute our case study on Banking Industry (Project title: Creating a memorable experience for Kwun Tong Yue Man Hawker Bazaar) to VTC IVE Business Design Thinking Casebook 2022.
Our Proven Track Record in other Sectors
To maximize the ROI of transformations, we have helped enterprises to innovate their business models, products, and services to generate breakthrough results, including revenue, profit, market share, customer acquisition & retention, and employee engagement. To enhance the success rate of transformations, we have developed the best practices of Design Thinking and innovation management for 8 aspects: aviation, banking, hotel, insurance, retail, public transport, manufacturing, and community development.