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Moon cake (Economics Project). Vanessa Lam (18) Janice Chan (5) Karen Lam (19) Phoebe Lo (25) Ruby Tin (33) Sharon Wong (38). Price differentials of moon cakes before and after Mid-Autumn Festival in HK. WHAT IS MOONCAKE?.
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Moon cake(Economics Project) Vanessa Lam (18) Janice Chan (5) Karen Lam (19) Phoebe Lo (25) Ruby Tin (33) Sharon Wong (38)
Price differentials of moon cakes before and after Mid-Autumn Festival in HK
WHAT IS MOONCAKE? • Chinese pastries traditionally eaten during the Mid-Autumn Festival • for lunar worship and moon watching. • regareded as in indispensable delicacy on this occasion • represent reunion of the family • round or rectangular in shape
FROM WHEN WE STARTED TO EAT MOONCAKE? • People said that in the yuen dynasty, they put slips inside the mooncake for sending messages.
DIFFERENT TYPES OF MOONCAKES
Snowy mooncake • Traditional mooncake • Ice-creak mooncake
COMPARISON BETWEEN TYPES OF MOONCAKES
ice cream mooncakesnowy mooncake • more expensive • more new flavour • western style + chinese style • different textures • new element • more suitable for teenagers • more attractive • modern • different combination
Traditional mooncake • more popular among elderly • traditional • have the real taste of moon cake • can call back the memory about mid autumn festival • share with family • have lotus seed paste • the traditional chinese people think that eating the mooncake can grant us peace
Online SURVEY (68 interviewees)
Analysis • Most of the people buy mooncake before the mid-autumn festival • Reasons that people do not buy mooncake • They received from others as a gift (most of them) • They do not eat mooncake
ANALYSIS • People buy mooncakes which are cheaper • They also concern about the feature of the mooncake and the kind of mooncake • Traditional mooncake • Snowy mooncake • Ice-cream mooncake • Public praise is another important factor
ANALYSIS • People prefer traditional mooncake - Maxims • They are also interested in the modern mooncake • Snowy mooncake – Taipan • Ice-cream mooncake – Haagen-Dazs
ANALYSIS • More the half of the interviewees think that the price of the mooncake isn’t reasonable • A bit expensive
WHY THE MOON CAKE'S PRICE DECREASES AFTER THE FESTIVAL? • People usually buy moon cakes to celebrate the Mid-Autumn Festival • Just a few people really like eating moon cakes • It is a tradition for people eating moon cake before the festival • The companies start to have discounts on or before the festival
This is their peak season for the company to earn money • From the data provided, we can see that a lot of companies sell coupons and have discounts around a week before the Festival • This is their skills to make profit and promote the moon cakes
Line of argument • It is an annual celebration • It has great fun to eat mooncake on this day • Mooncake is a symbol for mid- autumn festival There is no substitute other than mooncake
4. Many Chinese families want to celebrate for the mid- autumn festival by buying mooncakes • Share with their relatives and friends • Gifts for colleagues, companies, customers… Huge demand for mooncakes before the mid- autumn festival.
THEREFORE… • The market demand is huge • A surge in demand for mooncakes • There’s only limited supply of mooncakes before the mid- autumn festival • The prices of mooncakes are more expensive before the festival
IN CONCLUSION • The price of moon cakes are a little bit expensive • However, people wants to celebrate Mid-Autumn festival buy moon cakes huge demand of moon cakes price rise • After Mid-Autumn, people do not need moon cakes anymore No one buy price decrease