Magic Memories discuss China market entry

It’s not necessarily about providing the lowest priced product that will make you a success in China… it’s about being able to add value and continue to create value.

Magic Memories started as fast photo service for tourists on the Queenstown gondola more than 20 years ago. It is now a global business with Magic Memories teams operating at more than 200 tourist attractions around the world, including Sea World, Movie World, Madame Tussauds and Legoland.

In this podcast, John Wikstrom, Executive Director and Founder of Magic Memories, and Jason Todd, Magic Memories Head of Business Development for Asia talk about their decision to enter the China market during this challenging time. The discussion ranges from why they decided to enter the China market, how they ‘dial up’ or ‘dial down’ down the company’s New Zealand roots, the impact of Covid on the company’s value proposition, and the challenges and opportunities going forward.

Timestamps

00:57	Catalyst for Magic Memories’ China market entry
02:59	Adapting to China’s social media ecosystem
07:07	Chinese visitor dynamics
10:12	Setting up in China – the regulatory process
17:13	Gaining market share in an increasingly competitive environment
18:47	Chinese domestic tourism – post the onset of Covid
20:29	How KPI’s are measured with a change in business models
21:41	How Covid created a ‘shift’ then a ‘pivot’
24:33	Leveraging the New Zealand brand
26:36	Challenges and opportunities going forward