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Social trends
In this task I will be explaining how current trends have an impact on my start up business, and ruling out which one affects my business the most. The main topics that I will be discussing are social trends, technology trends, environmental trends and ethical trends
Social trends increase population. More people are going to live to an older age.
There are working patterns a person are working more, flexible working patterns and longer commutes to work. Therefore, if I knew my demographic/target market worked longer hours I would open my business later in order for them to get a chance to explore my business and for students who may stay in their form of education longer hours, I could have a student discount for when they finish college or university.
If I do this, my business will benefit as it will gain as many customers as possible as I will be basing my opening times on my customer working hours so they will have an opportunity to visit my business.
My business could make the most of this trend as my business might have to open later, flexible appointments etc. there has been a reduction in the number of 10-14s, and 65-89s, but all the other age groups have seen a general increase. The largest increase is in the 25-29 age group, rising by 50.5% and in the children under the age of 5 group, which has increased by 44.4% since 2001. There were just over 76,000 students (full and part time ) attending Manchester’s higher education establishments in 2011/12 .
People are staying at home with their parents/careers till they have enough money to provide for themselves and go the gym my business will help as the tracksuits could be good gym wear as there is shorts and t-shirt tracksuits
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