Collectible Card Market Research

Objective: Help a Canadian collectible card company develop new products by understanding consumer preferences and behaviors.

Key Steps:

1. Conducted qualitative research through focus groups to gather in-depth insights.
2. Designed and distributed a three-part virtual survey to collect quantitative data. (Qualtric XM)
3. Identified participants' favorite intellectual properties (e.g., movies, series, cartoons).
4. Explored purchasing motivations related to these properties.
5. Investigated emotional and social factors influencing purchase decisions, ending with a self-assessment of being a collector.
6. Analyzed survey data to identify trends, preferences, and emotional triggers.
7. Developed a predictive model to classify individuals as collectors or non-collectors. (Sas Miner)

Key Findings:

1. Male vs Female:
   • Males are twice as likely to exhibit collecting habits compared to females.
2. The "C" Word (Collector):
   • Nearly 70% of respondents with collecting habits deny being collectors.
3. Age of IPs:
   • Despite nostalgia not being a claimed factor, 60-70% of respondents prefer IPs older than 5 years.
4. Emotions:
   • Emotional factors drive 70% of the support for favorite IPs.
5. Predictions:
   • Key variables identified to predict collectors with a 59% success rate.

Recommendations:

1. Provided insights on targeting specific consumer segments based on identified intellectual properties.
2. Suggested implementing a monitoring system to detect emerging trends and popular intellectual properties.
3. Advised on marketing strategies to appeal to potential collectors and enhance the perceived value of collectibles.

Implementation of Automated System for Monitoring IPs:

1. Use APIs from Amazon, eBay, and social media for historical pricing data.
2. Employ NLP for sentiment analysis on customer reviews and comments.
3. Establish a list of IPs to license and use Google Alerts for trend notifications.
4. Develop a scoring system for IPs based on emotional and value-driven data.

Conclusions: This study on collector behavior and preferences regarding IPs provides valuable insights for the collectible card company. By understanding collectors' choices and connections to specific IPs, the company gains a strategic advantage in identifying valuable properties. This research lays the foundation for informed decision-making, empowering the company to capitalize on lucrative opportunities within the IP licensing market.

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