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My STEEP Analysis

May 26, 2018 By

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Community


Technology

Expensive


Environment

Less options


Economy

Fast-paced growth


Political

None


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

No sales


Quadrant II: High impact / Likely to Occur

Medium Sales

Quadrant III: Low impact / Unlikely to Occur

Employee shortage


Quadrant IV: Low impact / Likely to Occur

Cost of living increase

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

These are the societal trends that may impact my business: [insert trends].


Technology

These are the technological trends that may impact my business: [insert trends].


Environment

These are the environmental trends that may impact my business: [insert trends].


Economy

These are the economical trends that may impact my business: [insert trends].


Political

These are the political trends that may impact my business: [insert trends].


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Trend one
-Trend two
-Trend three


Quadrant II: High impact / Likely to Occur

-Trend one
-Trend two
-Trend three

Quadrant III: Low impact / Unlikely to Occur

-Trend one
-Trend two
-Trend three


Quadrant IV: Low impact / Likely to Occur

-Trend one
-Trend two
-Trend three

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Being African isn’t “cool” anymore


Technology

Easier to make your own clothing from home with your own machine than buying


Environment

The tempature isn’t t-shirt friendly


Economy

People can’t afford to buy shirts at a price where I would be recieving a high profit


Political

The gouv. doesn’t allow small business to work anymore


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Canadian dollar drops at an all time low


Quadrant II: High impact / Likely to Occur

Someone tries to re-sell my clothing and try to take credit for the idea

Quadrant III: Low impact / Unlikely to Occur

People stop buying the apparel


Quadrant IV: Low impact / Likely to Occur

People talk negatively about me and the brand

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increase of service dog Use
Increase in acceptance of service dog use
Increase in trends towards lower environmental impact lifestyles


Technology

Lab created meats,


Environment

Global warming
Less animal farming


Economy

Lower social assistance amounts/living wage amounts
Trade agreements on manufacturing goods
Increase in economy
Decrease in economy


Political

Service dog regulations


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Lower social assistance amounts
Lab created meat wiping out all farmed animal production and thus leather availability
Service Dog regulations
Ban on using leather to create products


Quadrant II: High impact / Likely to Occur

Increase of service dog use
Increase of acceptance of service dogs
Changes in financial economy

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Increase in minor costs like banking fees, web hosting fees etc.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Resurgence of faith in private sector
Increasing awareness of harm done by non-governmental sector
Decreasing neonatal mortality


Technology

Increasing availability of biomedical devices
Growing divide between technology available in low- and high-income countries


Environment

Access to clean water (essential for running hospitals and clinics)
Degradation of land for resource extraction


Economy

Increased funding for innovation in GH
Recession – decreased funding


Political

Wavering trust in multilateral agencies, government and other public institutions


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Increasing awareness…
Resource extraction…


Quadrant II: High impact / Likely to Occur

Wavering trust…
Increased funding…
Increased availability…
Resurgence of faith…

Quadrant III: Low impact / Unlikely to Occur

Access to clean water


Quadrant IV: Low impact / Likely to Occur

Growing divide…
Recession…

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Meeting stranger anxiety


Technology

Increased usage of technology to facilitate entertainment (example: VR, Snapchat)


Environment

Local natural catastrophe or incidences


Economy

Economic Slowdown


Political

Strict Residential Noise Regulation
Code of conduct in the entertainment industry


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Local natural catastrophe or incidences


Quadrant II: High impact / Likely to Occur

-Economic Slowdown
-Increased usage of technology to facilitate entertainment (example: VR, Snapchat)
-Code of conduct in the entertainment industry

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

-Meeting stranger anxiety
-Strict Residential Noise Regulation

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increase in use of Service Dogs


Economy

Tariffs on exported goods — lower rate of American customers


Political

Service Dog legislation


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

New working dog legislation USA


Quadrant II: High impact / Likely to Occur

New working dog legislation CANADA
Import tariffs USA

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Meeting stranger anxiety


Technology

Increased usage of technology to facilitate entertainment (example: VR, Snapchat)


Environment

Local natural catastrophe or incidences


Economy

Economic Slowdown


Political

Strict Residential Noise Regulation
Code of conduct in the entertainment industry


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Local natural catastrophe or incidences


Quadrant II: High impact / Likely to Occur

-Economic Slowdown
-Increased usage of technology to facilitate entertainment (example: VR, Snapchat)
-Code of conduct in the entertainment industry

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

-Meeting stranger anxiety
-Strict Residential Noise Regulation

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

shd;dr wljue8 fdjfjnaeri djjfskd


Technology

eir crerejf eoir jv jvk


Environment

afaeor fdjfi akdjfaif af


Economy

dkae d
dkajfaei
;faf ajefk


Political

dkfjdk?


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

dkfadfka


Quadrant II: High impact / Likely to Occur

fkhjhih

Quadrant III: Low impact / Unlikely to Occur

g[ep aa


Quadrant IV: Low impact / Likely to Occur

ereo fa

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increasing interest/recognition of non-profit and charity organization roles in having social impact

Increasing interest for consultants to work with non-profit and charity organizations


Technology

Streamlining the ability for NGO’s to have the information they need in an easy and accessible manner in regards to project development, funding opportunities, and strategic partnerships, etc.


Environment

Unique challenges locally that can influence allocation of government and private sector grant funding for NGO’s


Economy

Declining economic growth can lead to reallocation of funds away from NGO organizations from government.


Political

Changes in political power at municipal, provincial, and federal levels all influence the way in which government funds are available for NGO’s.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Economic depression that eliminates fund availability for NGO sector from government.


Quadrant II: High impact / Likely to Occur

Reductions in fund availability from grants as a result of economic declines/recessions in Canada, as well as with new politicians.

Quadrant III: Low impact / Unlikely to Occur

Negative company image due to poor results/service delivery.


Quadrant IV: Low impact / Likely to Occur

Competition from other consultancy agencies.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Technology

more people will look for accessibility


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

high demand


Quadrant II: High impact / Likely to Occur

emergence of competitors

Quadrant III: Low impact / Unlikely to Occur

new ways


Quadrant IV: Low impact / Likely to Occur

more Competitors

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Bad Reputation


Technology

Heated Parking Lots
New Equipment


Environment

Global Warming


Economy

Reduced Demand For Snow Removal
Economical Collapse


Political

Snow Removal via Government


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Snow Removal Via Government
Economical Collapse
Reduced Demand For Property Maintenance
Global Warming
Heated Parking Lots


Quadrant II: High impact / Likely to Occur

Bad Reputation

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

New Equipment

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

No ‘degree’. Photography is easily self taught with lots of practice and studying of online materials. Many people think it’s just pressing a button (look online and you’ll see how many people think that).
What the media perceives as beautiful. Everyone expects to look like a super model and for the photographer/retoucher to work a miracle by making them look super thin, clear skin and perfect. There is too much bad media on body image which needs to be stopped as everyone comes in different shapes and sizes. No one needs to look like Angelina Jolie on a cover of Vogue but they feel they need to be.


Technology

Cell Phones. The cameras are getting better and many people have turned to this to capture images on the go.
Instagram/Filters: Why edit when you can slap a filter on your image within two seconds to make it look ‘better’
Free photo editing software: Why hire a photographer or retoucher if they can do it themselves?
Cameras: People think because they have a good camera that they will take good photos. Its not the camera but it’s the photographer. Having good gear is a bonus.


Environment

Canada is known for having cold winters. With our ice storms and minus double digit weather sessions may need to be cancelled or postponed. Many people will not book an outdoor session during the winter because of intolerance to the cold.


Economy

With the cost of living in Ontario, taxes being high and wages being low it can be quite difficult for people to afford a photography session.
It is very easy to dispute charges with paypal and the bank. There have been the odd cases where a client gets their images and decides they don’t like them and without saying anything they’ll dispute the charges which will result in the photographer losing the money they earned and an additional 15 dollars (or whatever the fee is for disputes)


Political

I cannot think of any political trends that would impact my business.
I may get business from a politician needing headshots and that’s about it.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Disputes. Doing a session, having the client unhappy and making a dispute and breaking the contract, leading it to small claims court. Disputing with banks/paypal is a popular thing these days and with photography, its not like you can return the product. Not only will I lose money, but I lost time and work. This also means an unhappy client which will lead to bad mouthing. I haven’t heard of it happening with photographers as much as I do with businesses selling actual goods.


Quadrant II: High impact / Likely to Occur

Economy/Low budget photographers: Not all photographers are equal. Everyone is different, some are more experienced than others etc. When someone sees my rates they may find them too expensive and go for a cheap photographer who is less experienced.

Quadrant III: Low impact / Unlikely to Occur

Suing for posting images on social media. Photographer owns copyright unless a release is signed. Unless it’s for minors.


Quadrant IV: Low impact / Likely to Occur

Services provided. Demand for over delivery. I promised 10 images to a woman, she signed the contract and agreed to it. I felt generous and sent 20 images. She complained they weren’t enough for her and demanded more.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

bath bombs are already selling


Technology

everyone making bath bombs are creative


Environment

scents can be to strong


Economy

not sure


Political

dont know


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

bath bombs will sell or they wont sell


Quadrant II: High impact / Likely to Occur

they might not fizz like they are suppose to

Quadrant III: Low impact / Unlikely to Occur

scents are to strong


Quadrant IV: Low impact / Likely to Occur

stains your skin or bath tub

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

More aduable Evironment frienly to use and see it grow. My paracord raped around my phone cord is easy to take off incase of an emercery. To use if your in trouble in the brush or to call for help if you have you with the compass and wisle to ues as well.


Technology

If people stop going to facebook. useing other sorse like instgarm, snapchat more then follow what othere people are using.


Environment

If people starting living in the woods instead of there house they would use my Surviure bracelets to help them more for the compass and fire.


Economy

If gas goes up may have trouble going to get materail for my paracord. People might have trouble to get them if gas goes up.


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Bracelets , Keychains


Quadrant II: High impact / Likely to Occur

Belts , Lanyard , Surviver Bracelets,

Quadrant III: Low impact / Unlikely to Occur

Spenders instead of selling or buying my belts .


Quadrant IV: Low impact / Likely to Occur

Belts, Pet stuff Dog collar ,leash , keychains, dragonfly,

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Clothing trenda that are always changing. Plus a higher need of vegan friendly fashion.


Technology

When in the manufacturing process new technologies may be needed.


Environment

Being cautious of not over producing and wasting materials.


Economy

Many people starting brands with not much of a background in it.


Political

Black was worn at the golden globes for victims of sexual abuse.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

People will stop shopping online


Quadrant II: High impact / Likely to Occur

Fashion is becoming fast, disposble and cheap.

People will rarely shop in physical stores. They prefer online

Quadrant III: Low impact / Unlikely to Occur

People will shop lrss often, only during certain seasons do people shop less.


Quadrant IV: Low impact / Likely to Occur

Trends will change

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Presence of amateur photographers.


Technology

New digital cameras and phones.
Robots that can start to take photos for clients.
1-Touch Editing Software Development


Environment

If we start to have smog advisory warnings like in 1990 where the ozone would be exceeded for about 90 hours every year. In the last five years, this criteria was exceeded only 1-2 hours every year on average.


Economy

Auto industry shuts down it would effect my business because a lot of the employees at these automotive business are in London, Ontario and surrounding area are family based and provided income to local families I may of had as clients if the auto industry didn’t fall.


Political

Photography regulations and laws.
Drone regulations and laws.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Photography Laws, and regulations to take place.
Robots to take photos of clients for them without booking apt and or space.

If all the auto industrial business in London, Ontario and surrounding cities shut down and took business outside of the country.


Quadrant II: High impact / Likely to Occur

Presences of amateur photographers.
New digital cameras and higher quality phone cameras that will make mobile vs DLSR a competition

Quadrant III: Low impact / Unlikely to Occur

Ozone to start exceeding more then 10 hours a year this would cause for serious health risk for not only my self but my clients to be exposed to this.


Quadrant IV: Low impact / Likely to Occur

Drone Regulations and laws

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Internet popularity and availability
Popularity of YouTube and blogging
Reading popularity


Technology

Availability of internet
new film and blogging equipment or resources


Environment

Power outages= no internet


Economy

a suffering economy means less people buying books which can lead to readers not looking for reviews of books for their next read


Political

Internet regulations.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Internet is no longer popular
blogging banned
economic recession


Quadrant II: High impact / Likely to Occur

There are many other book review bloggers/You Tubers to compete with that are already established with a big fan base. This means I may not get a lot of people interested in my book review blog or YouTube channel.

Quadrant III: Low impact / Unlikely to Occur

frequent power outages
change in internet regulations


Quadrant IV: Low impact / Likely to Occur

blog name/YouTuber channel name may not be available

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

• Remote work has become more accepted by companies
• Increase in freelance designers (as opposed to design agencies)
• Importance of branding


Technology

• Mobile responsiveness is crucial
• Keeping up with rapid changes in technology
• Ease of accessibility to software, untrained think they don’t need designers
• Artificial Intelligence (AI) replacing designers


Environment

• Green trends resulting in companies producing less packaging


Economy

• Cost of industry standard software increasing regularly


Political

• Regulation of trained designers


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

• Artificial Intelligence (AI) replacing designers


Quadrant II: High impact / Likely to Occur

• Remote work has become more accepted by companies
• Mobile responsiveness is crucial
• Cost of industry standard software increasing regularly

Quadrant III: Low impact / Unlikely to Occur

• Regulation of trained designers
• Green trends resulting in companies producing less packaging


Quadrant IV: Low impact / Likely to Occur

• Increase in freelance designers (as opposed to design agencies)
• Importance of branding
• Keeping up with rapid changes in technology
• Ease of accessibility to software, untrained think they don’t need designers

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

mineral make up, and all natural beauty tools


Technology

is the make up and beauty tools hand crafted?


Environment

all natural products


Economy

vegan products


Political

cruelty free


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

cruelty free products encourage people to buy off of me.


Quadrant II: High impact / Likely to Occur

vegan and cruelty free products

Quadrant III: Low impact / Unlikely to Occur

specific minerals and plants that may not be as best for the skin as another


Quadrant IV: Low impact / Likely to Occur

better for skin

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

professional lawn care association of Ontario is a site with plenty of valuable information from tips to most asked question and even how to contact local companies. social media is obviously a powerful tool as well. insta gram, facebook craiglist, kijiji etc..


Technology

Anything from new tool inventions to science formulas and ease of internet and phone apps to facilitate tasks or even to learn new methods


Environment

The environment is important in this field as its my job to respect and protect the environment as much as i can and make sure im up to par with city standards/government bi-laws ,


Economy

220 million tons of carbon dioxide emissions are pumped out annually from off road motors and about 12% of that is from lawn mowers. go as green as possible and keep up with maintenance is also very important.


Political

here its clear and not hard to find that the government has issued more and more laws over the years. laws on pesticides, foreign pesticides or product, water consumption, being licensed or have permit.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

having a drought would not be good, getting injured at work or at home, none stop rain. mechanical malfunction/breakdown.


Quadrant II: High impact / Likely to Occur

expanding the business accusatively, dry weather, rainy weather, being able to troubleshoot and maintain tools, equipment.

Quadrant III: Low impact / Unlikely to Occur

pesticides being completely illegal.
no more use of small engines


Quadrant IV: Low impact / Likely to Occur

fresh water laws pesticide law change or any government or city law/standerds to be followed.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Technology

New digital cameras
better cell phone cameras


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Technology – camera phones improve

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Zumba is a hot societal trend but may be overlooked with other fitness trends such as yoga.


Technology

The production of videos and youtube may possibly deter a client in not participating in your class and opt to exercising at home.


Environment

The weather may deter clients from participating in class and including the distance of the Zumba class is a factor.


Economy

The cost of products may cause Zumba to increase and eventually impact the demand, as many will not be able to afford the class.


Political

Not much of an impact to Zumba.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Economy


Quadrant II: High impact / Likely to Occur

Society
Technology

Quadrant III: Low impact / Unlikely to Occur

Political


Quadrant IV: Low impact / Likely to Occur

Enviroment

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

If people use more Public transit it will mean less vehicles on the road however people enjoy there own freedom and comfort of their own vehicles so i dont see this as becoming a big impact.


Technology

Equipment
Tools


Environment

carbon tax


Economy

rising fuel prices will mean i would need to charge more to make up for costs
insurance rates and regulations increase costs
safety standards increase maintenance


Political

laws involving roads and travel


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Vehicles tow themselves
vehicles repair them selvies


Quadrant II: High impact / Likely to Occur

safety standards
move over road side emergency laws
rising fuel prices will mean i would need to charge more to make up for costs
insurance rates and regulations increase costs
safety standards increase maintenance

Quadrant III: Low impact / Unlikely to Occur

fuel is no longer available


Quadrant IV: Low impact / Likely to Occur

more people take public transit

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The rise of social media usage to encourage audiences to buy
Increase of people reading reviews before buying for themselves


Technology

Usage of mobile devices to shop anywhere
Personalized email marketing sent to customers
Voice recognition for navigating through store catalogs
Payment services like PayPal and Apple Pay


Economy

Rising percentage of ecommerce sales worldwide


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Shortage of local printers
Avoiding to shop based on negative reviews


Quadrant II: High impact / Likely to Occur

Increase in online retail sales
Purchases through mobile
Sales based on social media exposure
Preference for free or expedited shipping

Quadrant III: Low impact / Unlikely to Occur

Cart abandonment after being promoted to set up an account


Quadrant IV: Low impact / Likely to Occur

Usage of voice recognition programs
Social media feedback
People reading reviews before buying

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Finding clients who are getting engaged and/or married and finding families who want to capture their moments on camera


Technology

Move to mirrorless cameras and more expensive equipment as well as understanding industry software (Adobe Lightroom) increases start-up costs.


Environment

The Ontario government is interested in recycling technology and making a greener impact. Tax on new technology increases.


Economy

Currently, housing is getting more expensive which impacts decision to get married/ engaged.


Political

Higher minimum wage means the lower likelihood of me introducing a second shooter to my business due to higher labour costs.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Sudden economic recession.


Quadrant II: High impact / Likely to Occur

Move from DSLR to mirrorless cameras and A-mount lenses means that the start up costs of the business will be quite high

Housing market appreciation means less purchasing power, which will impact decisions to get engaged.

Quadrant III: Low impact / Unlikely to Occur

Instagram having a lapse or less users which will affect my marketing strategies.


Quadrant IV: Low impact / Likely to Occur

Green technology tax will impact my business negatively and is likely to happen. It will be a small impact.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Social Media Changes very frequently and affects the way we interact and shapes our society, weather we like it or not.
Because of these changes, BlastCast Crop. Needs to adapt quickly to these changes and demands in the market without getting to far ahead of the trends to not waste valuable time and energy.


Technology

Along with social media, Technology also changes quickly and often makes staying ahead of the curve difficult to navigate.
However, with continued feedback and research from customers, BlastCast can stay intune with what it’s clientele need and want rather than telling them, unless they ask for consulting on staying ahead.


Environment

The environment plays a big part in our outdoor demonstrations and outdoor live events. Because most of these outdoor events are weather permitting, BlastCast will have continued fail safes, backup plans and precipitation preventions to plan ahead.
We have started with Waterproof hard cases: To prevent, dust, rain, snow and water from entering and damaging our tech.
In the future, BlastCast intends on using a broadcasting van to secure all items inside and prevent water damages.


Economy

I believe that the economy plays a big role on peoples willingness to spend for marketing and events.
However, Rather than letting the potential of economic down turn deture us from further progress and dominating the market. BlastCast and it’s founders have researched other business that were successful during said downturns or recessions because of their persistence in pursuing new clients and taking over the market while other players were down.

BlastCast intends on being a very dominant force and will seek to destroy it’s competitors during these times.
“Be obsessed or be average.” -Grant Cardone
“If you’re not number 1, You’re losing” – GC
“10X your business by doing things that others aren’t willing to do” – GC
“Success is your duty, obligation and responsibility” – GC

“The best time to invest is when things are cheap, and no one else is in the market willing to play” -Tony Robins


Political

Each government has different rules and regulations for businesses, social media and control.
Because BlastCast will be a dominant global brand with franchises in every country, this will directly affects it’s interactions with the public, business and government sectors in each nation.
Being aware and planning ahead with well versed attorneys from each nation is the only way that BlastCast will achieve such lofty endeavours.

It’s a war! and we are going to win!
“Who’s got my money” – GC


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Grid Lockdown and power outages for cell towers (Environmental, Political, Technological)


Quadrant II: High impact / Likely to Occur

-Social Media Changes. (Social & Tech.)

-Political & Government policy changes for business and social platforms. (Political)

-Poor outdoor weather conditions (environmental)

-Economic downturn (Economical)

-Injury/ Sick Days (Environmental)

Quadrant III: Low impact / Unlikely to Occur

-YouTube Dissolves


Quadrant IV: Low impact / Likely to Occur

-Power Outages (Tech and/or environmental)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

various individuals wanting to build their own studio/do everything themselves.


Technology

I use a windows computer, those most people who go to record at music studios, as well as the ones who work there, prefer using a mac.


Environment

A lot of people record at home, and the ones who do have a commercial studio space tend to move around a lot if funds arn’t stable.


Economy

As of right now, my studio is based in New Sudbury, an area that is not exactly where most of my clients/customers are


Political

Artists might look at my recording studio as one that supports only 1 genre, though, being a person who listens to more than just 1, my studio is open to a different array of artists.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

economy slows down dramatically


Quadrant II: High impact / Likely to Occur

artists find other studios to work/pay for services.

Quadrant III: Low impact / Unlikely to Occur

artists changing the styles of their music.


Quadrant IV: Low impact / Likely to Occur

interest in the genre of music my studio specializes in goes down

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Change of music industry and more people inspired to listen to christian music of all genres.
changes of points of view in society and more people being influenced to change there core values and morals for the better.

new social networks could impact.
new video game consoles. streaming devices.


Technology

working towards revolutionizing the music industry and the entertainment companies and working towards advancing in sectors that would benefit society starting with the music label.

new devices that can stream and download.
video game consoles.
vehicle appliances and apps and living room and portable devices with more technological access. new programs and equipment for music making


Environment

Budgeting and charitable events and promoting to better the environment
and the more that other businesses support the environment the less resources we will have to put into bettering but we will consistently stay at a steady support.


Economy

the economy will benefit because a lot of our resources will benefit the world and supporting areas that need help also revolutionizing products for sales.


Political

in away we will be positively protesting to better society and help politicians make better decisions by networking and adding to conversation to express ourselves to achieve a health balance with positively and reaching out to educated with open free thinking students for a more in depth opinion through the music industry.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

very quickly in the next week a new product becomes available that is a multi media device.


Quadrant II: High impact / Likely to Occur

influence in progression of technology and progressive thinking of music and the industry art and the whole entertainment industry.
:examples new device and streaming advancements and society being more impacted by thought provoking positive music that is also educational bettering and reaching out to generations and a bigger target audience as it becomes more widely available.

Quadrant III: Low impact / Unlikely to Occur

older generations of streaming devices get released.


Quadrant IV: Low impact / Likely to Occur

the same type of free streaming platform but different company and it offers the same as programs available already.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Mothers/parents against gaming. Saying it corrupts them, takes away outdoor time, “brainwash” them or make them violent.


Technology

All games nowadays are online, people can purchase games and consoles/PC’s and play from the comfort of their own home. That is an argument I hear when I bring up a gaming cafe.

PC’s advance every year and consoles every 3-5 years. So upgrades to hardware is always needed. Games are always being released.


Environment

A business like this uses a lot of electricity. A computer can run 250-500+ watts from the outlet. Having dozens of them sucks a lot of power. Plus having a server and multiple tv’s and consoles also going on at once. It’s not exactly “healthy for the environment.


Economy

If the mining sector dies down, or theirs a strike, or lack of work in Sudbury, people won’t have “extra” cash they can spend on entertainment.


Political

Possibly similar to “Society” impacts.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Economy


Quadrant II: High impact / Likely to Occur

Technology advancements. Free to play games are becoming bigger than ever (Fortnite, Apex Legends), etc)

Quadrant III: Low impact / Unlikely to Occur

Society/political


Quadrant IV: Low impact / Likely to Occur

Environment

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

people wants to share their lifestyle through social media.


Technology

Social Media; Facebook, social media
Website
Contact information
Pinterest or YouTube/ DIY


Environment

DIY
Reuse some of the products


Economy

If people lose their jobs, less people will use my service or products.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

people lose job and less people will use the service.


Quadrant II: High impact / Likely to Occur

People may use YouTube or DIY to prepare the party and they may not use my service

Quadrant III: Low impact / Unlikely to Occur

political: Changes in government


Quadrant IV: Low impact / Likely to Occur

stress free and save time.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Paradigms and understanding on holistic health and wellness.
Social stigma related to mental health and spirituality.
Health and wellness related trends in culture and media.
Trends in learning and education.


Technology

Access to an internet connection.
Increase use of social media.
The computer age has allowed for online businesses to boom.


Environment

Certain cities and states/provinces are known to be more progressive, such as California. This will definitely impact the local side of my business.
Environmental disasters impact access and usefulness of technology.


Economy

Economic depressions and recessions impact the amount of money that people are willing to spend on social services, private coaching, and health and wellness.
Economically progressive countries have more money to spend on “non-essential” health care needs.
Economic downturn also impacts entrepreneurs and their ability to invest in coaches and their business.


Political

Political trends in health, wellness, business, and education will impact my business.
For example, current social service cuts may create an increased demand for private coaches/counselors.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Discontinuation of the internet.


Quadrant II: High impact / Likely to Occur

Budget cuts to social services.

Quadrant III: Low impact / Unlikely to Occur

I’m unsure here.


Quadrant IV: Low impact / Likely to Occur

Also unsure.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

1- A change in how people view food delivery.
2- Or a social movement where everyone wants to make home cooked meals.


Technology

3 – Better developed apps that make it easier for the customer to order food online
4 – More ways to make orders that may go beyond an app your phone


Environment

5 – Really bad weather can put me out for the day
6 – Consistent relatively bad weather can bring up business because people want to go out
7 – A tornado can wipe out the city and I’ll be SOL


Economy

8 – An economic crash or recession that would limit the amount of money people have to spend on food delivery
or takeout in general


Political

9 – Laws or regulations on how much I can charge per delivery or by distance would likely impede my profit
margins from going up or being maintained if the cost of gas goes up or what have you


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

8 – 7 – 6 –


Quadrant II: High impact / Likely to Occur

4

Quadrant III: Low impact / Unlikely to Occur

9 – 5 – 2 – 1


Quadrant IV: Low impact / Likely to Occur

3

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

test


Technology

test


Environment

test


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

test


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Painting, sculpture, music, literature and the other arts are often considered to be the repository of a society’s collective memory. Art influences society.

More Love of the arts – higher demand for classes.
More People getting into the arts, more competition.
More social moments – Themed art nights

People could start to Hate art- think its pointless – enter a minimalism decoration wave.


Technology

New art techniques that comes up to take classes for


Environment

People want to be environmentally friendly and not waist materials
Using gas/transportation to get to the group


Economy

Lower economy- less money for recreational activities
Increased in fuel prices


Political

New Laws being put into place saying You need A Licence to Teach Art


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Popularity Increases,and more Classes/competition being held
NO more supplies available being produced to use
Not having a Location to host the event


Quadrant II: High impact / Likely to Occur

Environmentally worried about waisting and using art materials

Quadrant III: Low impact / Unlikely to Occur

Everyone becomes an artist and no one needs lessons the end.


Quadrant IV: Low impact / Likely to Occur

Law saying you need a licence to teach art
Law on using paints with public (toxic?)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Fair trade
Organic
Health Conscious


Technology

Debit/credit – less carrying of cash
Online Presence – Wifi, Social Media
Single cup coffee machines


Environment

Recyclable materials
Plastic Bans
Organic?


Economy

High unemployment rate
Gas prices


Political

Marijuana sales prohibited
Alcohol sales highly controlled


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Organic
fairtrade


Quadrant II: High impact / Likely to Occur

Debit/credit
Online Presence
K-cups
recycle

Quadrant III: Low impact / Unlikely to Occur

Plastic ban


Quadrant IV: Low impact / Likely to Occur

Pot/alcohol sales not allowed
gas prices
health conscious
Unemployment

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increase in affordability and efficacy of virtual assistants


Technology

Same as above


Economy

Decreased value for administrative services.
Increased value for administrative services.
Increased/decreased financial exchange for artistic pursuits.


Political

Increased/decreased access to grant funding.
Increased/decreased allotments for administrative support.
Certifications/licensing requirements changing to be counted as an eligible grant expense.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Increased/decreased access to grant funding.
Increased/decreased allotments for administrative support.
Certifications/licensing requirements changing to be counted as an eligible grant expense.
Changes to curriculum at the provincial level

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Increase in affordability and efficacy of virtual assistants

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The art industry takes many forms. One being highly cultural and influencial: the world of collecting and art galleries. Artists are intimately involved with their customers, galleries and collectors. The longer one is associated with notable people or galleries the more standing they have in the community or if they wished to sell in other galleries it would be much easier. There is a lot of networking and transactions are often in person. Gallery and auction sales make up the largest percentage of the art market.


Technology

The development of the internet and social media has dramatically increased a person’s access to knowledge and the interconnectedness of individuals. Marketing is shifting and becoming primarily online based. People are gravitating more towards people they trust, who have influence rather than corporations. This is good for my business because I am aiming to market and sell primarily online. I also will be providing information services and transparency.
However, with the plethora of fascinating and free content available, especially when it comes to art, it is harder to stand out.


Environment

There is a growing movement due to the rise of concerning data in regards to the unsustainable nature of human progression. People are becoming more conscious. Some, inspired through the fear of collapse, or simply the love of the Earth, are deciding to shift their lifestyle or perspective. This helps my business. I am not about promoting fear, but about showing the beauty I see with the world, the things I’ve learned and hopefully inspiring others as well, to make changes however they can.


Economy

All around the consensus seems to be the same. Art plays a large role in economic growth and contributes hundreds of thousands of jobs. It is an important part of the tourism industry in Canada as well.


Political

Art is often used as a form of political protest or to express an artist’s thoughts on current power and political issues.

It can create strong client support or repel some people depending on what ideas are expressed.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Economic collapse
Shifting, changing culture


Quadrant II: High impact / Likely to Occur

Environmental Awareness
Increased online art consumption

Quadrant III: Low impact / Unlikely to Occur

New regulations on the art industry


Quadrant IV: Low impact / Likely to Occur

Political issues

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

because of social media, people are curating specific images of their lives and space
millenial burn-out culture – creating a need to get back to nature


Technology

Instagram and Pinterest getting people interested in home decor
people are experiencing a growing need to unplug from tech (social media, emails, etc)


Economy

a greater emphasis on buying local and supporting small business
moving away from inexpensive mass-produced items to high-end hand-crafted artisanal products
a growing base of ethical shopping (ex. buying environmentally sustainable items, buying products made from recycled material, etc)
house prices are increasing – millennials are finding it more difficult to afford homes
baby boomers are retiring and will be looking to downsize in the coming years


Political

arts funding is regularly on the chopping block


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

because of social media, people are curating specific images of their lives and space
Instagram and Pinterest getting people interested in home decor
a greater emphasis on buying local and supporting small business
moving away from inexpensive mass-produced items to high-end hand-crafted artisanal products
arts funding is regularly on the chopping block

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

millenial burn-out culture – creating a need to get back to nature
people are experiencing a growing need to unplug from tech (social media, emails, etc)
a growing base of ethical shopping
house prices are increasing – millennials are finding it more difficult to afford homes
baby boomers are retiring and will be looking to downsize in the coming years

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

See previous document; already organized by STEEP

Society’s values; cultural acceptance/perception of visitors from various countries/other countries’ perceptions of Canadians (reputation of Canadians in the world), religious and ethnic diversity (groups of similar background may create events or activities that are related, for example the Greek Festival)


Technology

Increasing use of tech; more easily accessible tech –> students will be able to learn independently cheaper than in a group –> using technology to reach international markets –> new social medias / changing landscape of internet and tech use to stay on top of


Environment

Weather and seasons affect tourism demand –> daily weather forecast affects outdoor activities for classes (need to be flexible) –> increasing care for environment / consumer demand for environmentally friendly business operations –> risk of environmental damage from extreme conditions


Economy

economy increase or crash in any country could affect tourism greatly from that region since travel is an extra expenditure / not a living requirement. improving economy in Ottawa increases prices of living and cost of operating with other businesses.


Political

political relationships between countries could affect travel between our markets to Canada.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Natural disaster
Political problems/relationships with foreign countries
Big accident at the school


Quadrant II: High impact / Likely to Occur

Increasing Tech need/demand/use;
Seasonal changes affecting tourism demand/#visitors

Quadrant III: Low impact / Unlikely to Occur

one country has a political “riff” with Canada (one country reduced market, but we still have other markets)


Quadrant IV: Low impact / Likely to Occur

daily weather changes
some businesses do not want to collaborate on ESL tourism

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

aging population
low birth rate


Technology

Digital art taking over
apps becoming more popular
print making as a successful way of reproducing a popular image
digitally advertising will make it easier for artists to get their name out there
social media makes it easier for artists to connect with others
online portfolios makes it easier for artists to be discovered by potential clients


Environment

rainy days may make people less inclined to go to craft shows
same with winter
extreme heat does the same thing
global warming effects tree population reducing paper production


Economy

economic downturns may decrease the number of people who want to buy are
the opposition means extra cash in people’s pockets to potentially spend on art


Political

political environment may spark awareness campaigns that can be great inspiration for new artworks
certain regulations for business licences and permits need to b followed.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Digital art taking over
global warming effects tree population reducing paper production


Quadrant II: High impact / Likely to Occur

print making as a successful way of reproducing a popular image
digitally advertising will make it easier for artists to get their name out there
economic downturns may decrease the number of people who want to buy are
the opposition means extra cash in people’s pockets to potentially spend on art
political environment may spark awareness campaigns that can be great inspiration for new artworks

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

aging population
low birth rate
apps becoming more popular
social media makes it easier for artists to connect with others
online portfolios makes it easier for artists to be discovered by potential clients
rainy days may make people less inclined to go to craft shows
certain regulations for business licences and permits need to b followed.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increasing use of social media for communication
Social justice/equity awareness rising
Need for socially aware media
People stop reading
Switch away from all written content


Technology

Shift to digital content
Improvements in writing and editing software
Decline in print technology
Robots start producing all written content


Environment

Preference for “green” communications
Proliferation of green businesses
Taxes on fuel etc. may impact money clients have to pay


Economy

Switch to online commerce
Development of “buy-local” community
Difficult to sell journalism
Cuts to non-profits/arts and culture/tourism sector mean lean times for clients


Political

Support/funding for non-profits, small businesses/organizations


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Robots start producing all written content
Cuts to non-profits/arts and culture/tourism sector mean lean times for clients
People stop reading
Switch away from all written content


Quadrant II: High impact / Likely to Occur

Increasing use of social media for communication
Shift to digital content
Improvements in writing and editing software
Decline in print technology
Development of “buy-local” community
Difficult to sell journalism

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Need for socially aware media
Social justice/equity awareness rising
Preference for “green” communications
Proliferation of green businesses
Taxes on fuel etc. may impact money clients have to pay
Switch to online commerce

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

SOCIAL-
There are always children being born
It is mandatory for young people to attend school
Most religions aren’t against mental well being


Technology

TECHNOLOGICAL-
Staying up-to-date with programs like power point to prepare presentations.
Staying up-to-date with online marketing tools, running a website.
Cloud storage, for online documentation.


Environment

ECOLOGICAL-
I don’t want to hurt the trees by printing documents repeatedly,so storing it on an accessible online cloud.


Economy

ECONOMIC-
Funding is being cut for Child and Youth Work positions withen the schools so there will be a need.


Political

POLITICAL-
Have the paperwork to prove I am credible to provide services to youth. Criminal Record Check, ASSIST, First Aid etc.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Against certain religions and mental wellness be banned.


Quadrant II: High impact / Likely to Occur

Children will keep being born.

Cloud storage is accessible anytime, anywhere.

Less Child and Youth Workers, more opportunities for my business.

Backround checks to ensure I am credible and qualified to provide first aid if necessary, that i don’t have a criminal record, assist, etc.

Quadrant III: Low impact / Unlikely to Occur

Mandatory school attendance.


Quadrant IV: Low impact / Likely to Occur

Changes in programs like powerpoint.

Tree conservation, but it’ll be all online.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

fear of explosives, noise disturbance


Technology

Better product or methods


Environment

Environmental groups that want to protect rocks, transportation of the product


Economy

Recession, cost of services


Political

New regulations, stricter regulations, need explosives license,


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

need explosives license


Quadrant II: High impact / Likely to Occur

cost of services
stricter regulations

Quadrant III: Low impact / Unlikely to Occur

environmental groups that want to protect rocks


Quadrant IV: Low impact / Likely to Occur

noise disturbance, better products/ methods

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Increase in globalization and popularity of Asian culture in the western world/ marketplace.
-Popularity of social media and “gramable” food items.
-Popularity of novelty food items.


Technology

Increase in social media applications.


Environment

-Consumer demand for more environmentally sustainable food packaging.
-Consumer demand for locally sourced ingredients.


Economy

-Local economic downturn closely tied to the oil-industry
-Economic downturn causes consumers to save more and spend less.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Local or global food shortage.


Quadrant II: High impact / Likely to Occur

– Rising costs of produce and ingredients
– Increased competition in the cafe industry
– Economic downturn reducing disposable income

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

– Opening of new Asian stores/markets in Edmonton

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

More people are attending ‘alternative’ events again, due to pop culture being more EDM/rave focused, which has created a wonderful influx of costume-like outfits being worn regularly in everyday society. This is a positive impact.
Behind that fact, these festivals follow the music, as much as the artists themselves. Being able to connect with well known individuals, especially with the rise of technology and social medias, the fashion industry has always been impacted by media.

It is important to note the rise of SpiritHoods company (mainly due to the younger generations who focus on branded apparel) after seeing many of their celebrity influences* wearing the attire with daily apparel.
If these celebrities could wear these fluffy hoods with their regular wear, why couldn’t they? Many younger people, whom had never been old enough to attend festivals, flocked to the company like moths to a flame once a few of these celebrities had sourced people towards them in interviews, and their social media posts.
(*like; Snoop Dogg, Wiz Khalifa, Vanessa Hudgens, Ellie Goulding, Lights, and many more.)

Many people have their own perspectives surrounding festival culture, possibly believing it to be childish, or related to drug abuse. This can impact my business negatively.


Technology

In the chance that someone begins developing an affordable, long lasting, but still quickly biodegradable faux fur options, could heavily increase my sales and my ability to serve those with strict-vegan lifestyles comfortably. This would impact me positively, as I have my own moral dilemmas surrounding my use of faux furs.

The state of the quality of fabric, and it’s environmental impcat, is detrimental to my business currently.


Environment

Faux Fabrics can take up to (approximately) 1000 years to decompose, and with the product generally being made out of polyesters and other plastics, this adds to the estimated 1.4 million-trillion plastic microfibres in our ocean today.
Faux Furs also disrupt the fur selling industry, and the control of animal populations, which makes up a large percentage of some smaller aboriginal community’s work force.
(My immediate, and distant family included.)
Quote: “’Real fur garments are much less polluting to manufacture than synthetic faux furs which are made with some of the most toxic chemicals known to man,’ says Eugene Lapointe, one of the world’s leading experts on the Earth’s wild resources, in a damning report he released recently.”

“Because nearly 1 million of these fibres are released when polyester fleece is washed, outdoor clothing brand Patagonia has committed to researching micro-plastic pollution in the ocean. And, a new study shows that sea anemones – which are close relatives of corals – are taking up these microfibres” / Patagonia is known for their GUPPYFRIEND Washing Bags, which I would really love to carry. This is a company making a big impact in the industry, with both their own work into studies and spreading education.

(https://www.plantbasednews.org/lifestyle/fashion-eco-friendly-faux-fur-recycled-plastic-bottles)
“Now manufacturer Ecopel is developing a faux fur material made from recycled plastic bottles.
Through a collection system internalized at the company’s mills in Asia, the company can now give used plastic bottles new life – rather than them being dumped in landfill or oceans.
The regenerated fiber developed from the process is introduced into a new cycle of circular-economy production where it will become…an eco-friendly faux fur coat.”


Economy

The economy, and clothing industries within them, are expected to be taking a hit in the coming years.

“…one third of all online purchases are
returned — forward-thinking leaders must aggressively work to reverse this trend.”
This is a new trend that should be focused on. Why is it people are happy with what they see online, and upset about what they see in person? Are people spending money they don’t have rashly?

Shopify has been a lead in studies on the fashion industry in recent days. They’ve stated, when speaking on the topic of returns in ecommerce,
“In response, businesses are adding workers, increasing warehouse space, and establishing separate departments to handle reverse logistics. Returns are the new normal and central to customer experience. But they don’t have to be a plague. In fact, how you deal with returns — before and after purchase — can differentiate your brand, create a competitive advantage, and even make you more profitable.”


Political

Faux Furs also disrupt the fur selling industry, and in turn, the control of animal populations. Both of these focuses make up a large percentage of occupations for smaller aboriginal community work forces. (My immediate, and distant family included.)
*This is a moral debate, with huge impacts. Repeated for emphasis.

Reversely, some people cannot morally support the fur trades, and believe faux fur to be a better option, despite the previously mentioned ecological impacts. This can be a tricky debate. Veganism is a political practice that people apply to their lives wholeheartedly. Loosing this demographic has large impacts, as there are many who have chosen to live their lives this way. It will lead to large impacts on my business if I market my true fur hoods without proper research, and have my analytics publicly shared to educate people on what I believe to be the larger pros/cons.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Innovative faux fur technology. If someone would/could create a biodegradable option I would have less trouble with my own ecological values in my business. This would be positive, (depending on the impact it actually had on the ecosystem.)


Quadrant II: High impact / Likely to Occur

Veganism; being one to create a demand for faux fur, while also being a reason certain customers may avoid supporting my company with my goals of working into real fur.
On the other hand, if I spread awareness there is a likelihood that I will gain people who are open to the ideas of knowing where their animal came from, and which aboriginal communities their money is going to support while purchasing true fur.

Drop in economy. Negative.

Continued rise in festival wear becoming mainstream fashion. Positive.

Ecological impacts due to materials used. This is a proven, and already in motion as something impacting my business, and as something my business will impact.
For the local aboriginal economies, the distribution of faux fur disrupts their hunting industry, as well as, the jobs and animals in population control, which also impacts the local ecology. 0/10 stars. Super negative.

Quadrant III: Low impact / Unlikely to Occur

Possibly drop in festival wear, or rave culture? With doubts it would occur, I think it is important to note.

Online returns seem to be an ongoing issue that ecommerce sites, and online retailers face. I highly doubt anyone will be looking to return something of this nature, but it is important to be aware of this.


Quadrant IV: Low impact / Likely to Occur

Many people have their own perspectives surrounding festival culture, possibly believing it to be childish or related to drug abuse. These ideologies would deter certain people from purchasing. Although, they may not be my target audience, they are worth mentioning. Negative.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Suicide rates highest recorded in 28yrs


Technology

eBooks more popular than regular books but popularity is decreasing


Environment

Less trees less tree-based paper
Hemp-based paper increasing


Economy

Poverty rates skyrocketing


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

eBooks more popular than regular books but popularity is decreasing
Kids not liking books
Parents not liking books


Quadrant II: High impact / Likely to Occur

Suicide rates highest recorded in 28yrs
Less trees less tree-based paper
Hemp-based paper increasing
Poverty rates skyrocketing

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Libraries existing

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

It become more accepted that everyone should be included


Technology

New technology can help both create new barriers, but also take down barriers


Environment

N/A


Economy

People might realize the importance of having a diversity of voices, might become an industry when there are laws into place


Political

New laws put into place


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

N/A


Quadrant II: High impact / Likely to Occur

New laws put into place
New technology can help both create new barriers
People might realize the importance of having a diversity of voices
Might become an industry when there are laws into place

Quadrant III: Low impact / Unlikely to Occur

N/A


Quadrant IV: Low impact / Likely to Occur

It become more accepted that everyone should be included
New tech takes down barriers

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The social life over in Africa is concentrated on a number of people controlling it. this might represent a challenge


Technology

The technology is still pretty rudimentary, internet connection is pretty slow and that is a bit challenge as in getting in contact with the suppliers.


Environment

Environmental trends are not a big issue when it comes to my business.


Economy

The economy in Africa is pretty unhealthy, which leads the power of purchase to take a big hint.


Political

politics tends to control the economy and safety of the country, that said, the business will be operated with fear of getting hit by a political storm on a random day.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

economical


Quadrant II: High impact / Likely to Occur

political

Quadrant III: Low impact / Unlikely to Occur

environment


Quadrant IV: Low impact / Likely to Occur

technology

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

vegetarians
vegans


Technology

order by phone
delivery


Environment

natural disaster -> decreasing vegetables, seafood


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

increasing tax for food(ingredients)


Quadrant II: High impact / Likely to Occur

increased consuming organic food

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Ongoing development of Indigenous-Settler relationships, ongoing colonization, resistance, decolonization and reconciliation. Increased concern for environmental issues, as well as a shift within environmental ethos from themes of conservation and sustainability towards themes of resilience and novel systems.


Technology

Increases in Agricultural technologies could increase competition more than we benefit.


Environment

Climate change and draught pose a threat to these ecosystems, including Salal and could be both an imputus for the project as well as an obstacle.


Economy

Ongoing technological involvement in food purchasing and delivery present opportunities today and potential growth/competition in the future.


Political

Support for urban food growth at the local council level exists today but any shift there would be a massive threat. Though I plan on approaching the Lekwungen, Esquimalt and Tsartlip Nations as well, my understanding is that traditional authority over land use and maintenance is traditionally held by Coast Salish Matriarchs, and know that there are ongoing attempts to reclaim this authority.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Major change to City Council’s urban food production and boulevard gardening policies.


Quadrant II: High impact / Likely to Occur

Ongoing development of Indigneous-Settler relations and environmental ethos.

Shifts in food purchasing trends towards delivery.

Changes in local ecosystems related to climate change.

Quadrant III: Low impact / Unlikely to Occur

There are no further changes to Southern Vancouver Island’s climate.


Quadrant IV: Low impact / Likely to Occur

Advances in agricultural practices are likely to occur, but hopefully with a niche market, the impact of this will be moderated.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The society is more incline to get their food in food trucks. In the past most of them were worried that it wouldn’t be food safe as much as restaurant but with all the research, the inspection all around they proved that they are as or even more safe to consumers.
The society, especially on Vancouver Island is more incline to be outdoor which help the food truck industry. Why not enjoying being outside and eating tasty food.


Technology

Technology is critical. Several newer technologies are becoming second nature to food trucks. While many food trucks formerly relied mostly on Twitter and Facebook, others today are mostly turning to Instagram and Snapchat to let customers know when they are at a certain location.

There’s also food trucks that starts having free wifi to attract more customers to be around.


Environment

The global crisis is a big one. A lot of businesses are trying to get into the “green market” and try to offer more sustainable items or packaging. Yet, there is a lot of progress to do with that.
My business is already offering a waste-free, local model. As I am the first food truck to be completely waste free, I am ahead of the game already as I am basing my target market on that as well.


Economy

The food truck industry is expected to keep growing in the next 5 years. With the economy of today, people all around wants to get more for their money. Food trucks are usually affordable, fast and tasty. The lower prices really make it easier to get customers and having a better marketing.


Political

New laws, new regulations, new political policies may affects the Mobile food services industry. As it has been seen in the states, some cities have doubled the price of business licensing

Pittsburgh has a myriad of complex laws that govern where and how the food trucks can operate, and the laws have become more onerous due to lobbying from local restaurants.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Food prices that would be not affordable to the industry, which would higher our costs and then impacts the prices of goods and services.


Quadrant II: High impact / Likely to Occur

New political policies that would extremely regulate food trucks

Quadrant III: Low impact / Unlikely to Occur

A decreasing popularity in food trucks at festivals, markets or events


Quadrant IV: Low impact / Likely to Occur

The waste free, sustainable trend would stop and people would prefer and go back to real plastic and lots of waste.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Population is increasing around the world.
Generation Y and Z traveling around the world, living in different countries.
Global population is getting older, more baby boomers.
Life expectancy getting higher because people are caring more about their body and mental health.
People looking for that flexibility to live and make money anywhere than just at an office.
Heterogeneous society – accepting everyone.


Technology

People are working more from their laptops and phones, starting more e-businesses.
Connectivity and coverage getting stronger in large and small countries.
Fusing technology and real estate – being a digital company with a brick-and-mortar.
Apps will be prevalent, on top of integrating mobile phones into their everyday life.


Environment

Major natural disasters that affect people greatly.
Man-made environmental disasters.
Global food production will deplete based on world population.
Depletion of natural resources and rise of emissions.


Economy

People will be starting their own business and learning the finance and business structures so they can be making their own money or more money.
Growing middle class.
Economy booming, then slowing down or hitting a recession.
Extreme weather could cause economic crises.
Federal debt will increase.
The dollar could continue to decline.


Political

More influential people will overtake politics.
Countries wanting to become a global and cyber superpower.
Rise of Indo-Pacific countries.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Major natural disasters that affect people greatly.
Man-made environmental disasters.
Global food production will deplete based on world population.
Depletion of natural resources and rise of emissions.
Economy booming, then slowing down or hitting a recession.


Quadrant II: High impact / Likely to Occur

Population is increasing around the world.
Generation Y and Z traveling around the world, living in different countries.
Global population is getting older, more baby boomers.
Life expectancy getting higher because people are caring more about their body and mental health.
People looking for that flexibility to live and make money anywhere than just at an office.
Heterogeneous society – accepting everyone.
People will be starting their own business and learning the finance and business structures so they can be making their own money or more money.
Growing middle class.

Quadrant III: Low impact / Unlikely to Occur

Extreme weather could cause economic crises.
Federal debt will increase.
The dollar could continue to decline.


Quadrant IV: Low impact / Likely to Occur

More influential people will overtake politics.
Countries wanting to become a global and cyber superpower.
Rise of Indo-Pacific countries.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-more than half of millenial woman made self care their new year resolution for 2018 https://www.shape.com/lifestyle/mind-and-body/more-half-millenial-women-made-self-care-their-new-years-resolution-2018

-And this mixing up of all meditation types has infected—and hence devalued—too much of the clinical research. https://www.globalwellnesssummit.com/2019-global-wellness-trends/meditation-goes-plural/ (speaking to overuse of mindfulness as a term)

-Globally, one in six people now has at least one mental or substance abuse disorder (over 1.1 billion people)—with anxiety disorder ranking #1 https://www.globalwellnesssummit.com/2019-global-wellness-trends/meditation-goes-plural/

-the CDC reports meditation is now tied with yoga as the top two alternative medical practices in the US https://www.globalwellnesssummit.com/2019-global-wellness-trends/meditation-goes-plural/

-The combination of the emotional toll of SJHR workand the culture of selflessness can hasten ‘activist burnout’, a condition,described in more detail later, which often results in people scaling back on or fully disengaging from their SJHR activism (Rettig 2006). https://www.researchgate.net/publication/283196414_Burnout_in_Social_Justice_and_Human_Rights_Activists_Symptoms_Causes_and_Implications

-A recent survey of 3,000 employees in eight countries including the United States, Britain and Germany found that nearly half thought they could easily finish their tasks in five hours a day if they did not have interruptions, but many are exceeding 40 hours a week anyway – with the United States leading the way, where 49 percent said they worked overtime. https://www.reuters.com/article/us-world-work-fourdayweek/burnout-stress-lead-more-companies-to-try-a-four-day-work-week-idUSKBN1OG0GY

Additionally, Millennials are more ‘herd-driven’ than other generations. Millennials were 65% more likely than other generations to participate in an activity when their peers were also participating. https://canadianmillennials.ca/selfcare-the-10b-industry-millennials-made-by-accident/


Technology

-self-care was the top app trend of 2018 https://www.shape.com/lifestyle/mind-and-body/self-care-app-trend-2018

-“People are starting to take a step back from the 24-hour digital life we have now and realize the mental health issues from being constantly connected to work,” Greene said. https://www.reuters.com/article/us-world-work-fourdayweek/burnout-stress-lead-more-companies-to-try-a-four-day-work-week-idUSKBN1OG0GY


Environment

As a personal reflection, with the state of our world-as depicted in Agenda 2030 and through climate change, the anxiety and depression and need for strategic action is stronger than ever. People tend to talk about needing action and change but not very often is it reflected on how we go about change-making or why our methods are not working (much reflection on this at the UN)


Economy

-We should see better 5.6% average yearly gains in the US self help industry from 2016 to 2022, when the overall market value should increase to $13.2 billion.

Canadian millennials spend nearly twice as much as Boomers do on self-care products and services, $295/month vs. ($152/month) respectively. https://canadianmillennials.ca/selfcare-the-10b-industry-millennials-made-by-accident/

North America is top producer of tarot cards https://www.orianresearch.com/report/global-tarot-cards-market-research-report-2017/422674


Political

On the self-care movement getting so big- “It’s partly a reflection of the society in which we live, which is fragmented, and where solidarity is greatly under threat. There is a very strong individualized rhetoric behind self-care, which I think is popular for a lot of people today, especially for government and states who would find it rather convenient to outsource public healthcare.” https://www.vice.com/en_us/article/zmdwm4/the-young-and-the-uncared-for-v25n4


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

-The combination of the emotional toll of SJHR workand the culture of selflessness can hasten ‘activist burnout’, a condition,described in more detail later, which often results in people scaling back on or fully disengaging from their SJHR activism (Rettig 2006). https://www.researchgate.net/publication/283196414_Burnout_in_Social_Justice_and_Human_Rights_Activists_Symptoms_Causes_and_Implications

-more than half of millenial woman made self care their new year resolution for 2018 https://www.shape.com/lifestyle/mind-and-body/more-half-millenial-women-made-self-care-their-new-years-resolution-2018

-Globally, one in six people now has at least one mental or substance abuse disorder (over 1.1 billion people)—with anxiety disorder ranking #1 https://www.globalwellnesssummit.com/2019-global-wellness-trends/meditation-goes-plural/

Additionally, Millennials are more ‘herd-driven’ than other generations. Millennials were 65% more likely than other generations to participate in an activity when their peers were also participating. https://canadianmillennials.ca/selfcare-the-10b-industry-millennials-made-by-accident/

-self-care was the top app trend of 2018 https://www.shape.com/lifestyle/mind-and-body/self-care-app-trend-2018

As a personal reflection, with the state of our world-as depicted in Agenda 2030 and through climate change, the anxiety and depression and need for strategic action is stronger than ever. People tend to talk about needing action and change but not very often is it reflected on how we go about change-making or why our methods are not working (much reflection on this at the UN)

-We should see better 5.6% average yearly gains in the US self help industry from 2016 to 2022, when the overall market value should increase to $13.2 billion.

Canadian millennials spend nearly twice as much as Boomers do on self-care products and services, $295/month vs. ($152/month) respectively. https://canadianmillennials.ca/selfcare-the-10b-industry-millennials-made-by-accident/

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

-And this mixing up of all meditation types has infected—and hence devalued—too much of the clinical research. https://www.globalwellnesssummit.com/2019-global-wellness-trends/meditation-goes-plural/ (speaking to overuse of mindfulness as a term)

-the CDC reports meditation is now tied with yoga as the top two alternative medical practices in the US https://www.globalwellnesssummit.com/2019-global-wellness-trends/meditation-goes-plural/

-A recent survey of 3,000 employees in eight countries including the United States, Britain and Germany found that nearly half thought they could easily finish their tasks in five hours a day if they did not have interruptions, but many are exceeding 40 hours a week anyway – with the United States leading the way, where 49 percent said they worked overtime. https://www.reuters.com/article/us-world-work-fourdayweek/burnout-stress-lead-more-companies-to-try-a-four-day-work-week-idUSKBN1OG0GY

-“People are starting to take a step back from the 24-hour digital life we have now and realize the mental health issues from being constantly connected to work,” Greene said. https://www.reuters.com/article/us-world-work-fourdayweek/burnout-stress-lead-more-companies-to-try-a-four-day-work-week-idUSKBN1OG0GY

North America is top producer of tarot cards https://www.orianresearch.com/report/global-tarot-cards-market-research-report-2017/422674

On the self-care movement getting so big- “It’s partly a reflection of the society in which we live, which is fragmented, and where solidarity is greatly under threat. There is a very strong individualized rhetoric behind self-care, which I think is popular for a lot of people today, especially for government and states who would find it rather convenient to outsource public healthcare.” https://www.vice.com/en_us/article/zmdwm4/the-young-and-the-uncared-for-v25n4

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Positive/Negative – Physical health conscious. Positive – animal welfare. Positive – having a “green” business.


Technology

Negative – animal care apps making it easier. Positive – easier to spread the word and get your name out there with social media.


Environment

Clients go away on vacation in summer and around Christmas time.


Economy

Clients place of work may face a finacial issue etc, may cut extra animal care first.


Political

Limiting number of dogs allowed at a time, insurances/coverage being expensive


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Social – becomes unacceptable for people to have pets
Political – dogs aren’t allowed in Victoria. Cut back and add strict regulations on dog friendly green spaces.
Environment – huge blizzard/natural disaster


Quadrant II: High impact / Likely to Occur

Technology – Younger pet owners go to using apps like Rover or Go Fetch.
Economy – Gas prices spike

Quadrant III: Low impact / Unlikely to Occur

Technology – Robots and drones start walking dogs


Quadrant IV: Low impact / Likely to Occur

Environment – weather becomes increasingly warmer, less time to be outside.
Economy – price of treats/dog bags go up

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

https://www.forbes.com/sites/danielnewman/2017/07/18/top-6-digital-transformation-trends-in-education/#13839c5f2a9a

new evidence of benefits of arts education


Technology

increase in digital learning
Increased smartphone usage

Use of AR/VR/MR as teaching environments
Classroom sets of devices
Gamification of learning


Political

Cuts to music funding/ontario arts council, doug cuts


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Artificial intelligence used as one-on-one tutors
Use of AR/VR/MR as teaching environments


Quadrant II: High impact / Likely to Occur

Gamification of learning
increase in digital learning
Increased smartphone usage

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Cuts to music funding/ontario arts council, doug cuts
new evidence of benefits of arts education

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Local Charities and Businesses

Minimalism & Trends


Technology

Smart phones
Social Media INSTAGRAM/facebook/twitter


Environment

Recycling & Upcycling


Economy

Ecommerce and Global Consumerism


Political

??


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Global crash of all technology and going offline


Quadrant II: High impact / Likely to Occur

Netflix subscription for clothing

Quadrant III: Low impact / Unlikely to Occur

Lack of overall interest in this industry


Quadrant IV: Low impact / Likely to Occur

More players join the game

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

GenZ- want clothes to reflect them, not celebrities. Costume, unique and rare but with worth (Supreme). Social confirmation.
Everyday fashion: not top to bottom approach
non verbal communication: PPl want to be appreciated and show their values


Technology

Trends: Social Media-sets what s cool and in style
Mobile Commerce:


Environment

Ethical materials.
Organic, bio degradable.
Long term wear>short term.


Economy

Fast fashion
labor costs
purchasing power
inflation


Political

Trade wars


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

the demand for sensitive teeth products is greatly increasing (are peoples teeth becoming more sensitive?)
interest in DIY and natural products
movement away from chemicals
increasing interest in self care


Technology

reusable packaging trends
more scientific research into natural ingredients


Environment

low waste packaging


Economy

people are spending more on self care products
people are willing to spend more in order to have something healthy and environmentally friendly


Political

pushes towards creating a green economy, gas taxes, bans on plastics etc
full ban on plastics
heavy taxes on single-use packaging


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

heavy taxes on single-use packaging


Quadrant II: High impact / Likely to Occur

people are willing to spend more in order to have something healthy and environmentally friendly.

demand for sensitive toothpaste is increasing 5-6%/year

increased demand for green packaging

trend in online shopping/ delivery/ grocery subscriptions

increased desire for community = more engaging with local markets, products and services

Quadrant III: Low impact / Unlikely to Occur

new types of oral hygiene gain popularity over brushing


Quadrant IV: Low impact / Likely to Occur

increased housing costs mean tighter budgets

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

people are buying online, Old people are buying online as well now, it’s the perfect time for new thinking.


Technology

My niche is old and old people don’t like tech, more and more sales are going online, online is set to over take retail but experts are split as to when this change will occur, Facebook AD targeting is able to do things previously unthinkable in marketing,


Environment

Eco friendly crazy people are against chopper hot rods and biker culture in general,


Economy

Looming recession, lose of jobs, the market is down in spite of stock prices, this is the perfect time to buy,


Political

Gender norms not encouraged, possibly more female riders in the future,


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Nuclear war, Economic collapse, global warming kills us all, President Donald J. Trump bans Trade with Canada in all forms, Active shooter is shot dead on new by “good” biker but both are wearing Freaking Awesome T-shirts there fore brand exposure is raised by great margins,


Quadrant II: High impact / Likely to Occur

E commerce over takes brick and motor stores,

Quadrant III: Low impact / Unlikely to Occur

T-shirts are considered old people clothes, The entire niche continues slowly shrinking,


Quadrant IV: Low impact / Likely to Occur

Taxes get raised, Active Shooter is a biker face on the news bikers are further vilified, Apple keeps teaching people over 30 how to use there overly simple products to shop online,

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed


Technology

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed


Environment

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed


Economy

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed


Political

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed


Quadrant II: High impact / Likely to Occur

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed

Quadrant III: Low impact / Unlikely to Occur

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed


Quadrant IV: Low impact / Likely to Occur

What’s included in this new feature?
• Last date the user logged-in
• Last topic/lesson the user completed
• User completion status
• List of topics/lessons the user has completed and not yet completed
• Percent of the course the user has completed

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Plants are trendy
Succulents are “in”
Green initiatives are in
Online purchasing


Technology

Self watering planters
Social media/influencers


Environment

Elimination of single use plastics
Global warming


Economy

Recession


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Recession
Green initiatives

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Banning of single use plastics
Global warming
Self watering planters

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Monthly subscription box – every month a box of products is sent to the subscriber.
Female Empowerment
Self-care Movement


Technology

Instagram is a great platform for my business
– Subscription options
– Blogging
– E-commerce


Environment

Natural and Organic demand.
ECO friendly packaging
Biodegradable bath products/packaging


Economy

Rise and fall of minimum wage


Political

Environmental impact


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Social Media becomes obsolete
People stop taking baths


Quadrant II: High impact / Likely to Occur

Subscription Box
Consumer need for more natural/organic and biodegradable products

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Rise in cost of living slowing down beauty sales

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Value-conscious consumers favour locally-made and locally-produced healthy and customizable products that are available online. BDC Findings: 1 in 3 consumers would pay 15% more for an ethically made product.
https://www.cbc.ca/news/business/5-canadian-consumer-trends-to-shape-the-future-of-retail-1.2129072

Shift in mindset to more eco-conscious consumption and lifestyle: “We are nature. Everything is” (recognizing our interconnectedness as a community to our environment as motivation to fuel positive change) – Skipping a flight might not save the Arctic, but it shows you care by Oliver Burkenam in The Guardian
https://www.theguardian.com/lifeandstyle/2019/jul/19/skipping-flight-might-not-save-arctic-but-shows-you-care-oliver-burkeman
Ethical consumption
https://www150.statcan.gc.ca/n1/pub/11-008-x/2011001/article/11399-eng.htm

Socially-responsible consumption in Canada:
Two main groups of consumers, the Concerned about Social Responsibility (17%) and the Zealous Consumers (27%) are truly passionate about ethical and sustainable products. The former (women, people 55+, and residents of small towns and non-metropolitan regions) are motivated by a marked concern about the ecological, environmental and social issues facing the world. The latter (young people under 45, higher-than-average income earners, and urban dwellers) are very enthusiastic about consumption, especially ethical and sustainable innovation.
https://www.crop.ca/en/blog/2017/190/
https://sondage.crop.ca/survey/start/CAWI/blogue/14-tabl_en.pdf
Canadian consumers: personal values drive consumption choices today – And Das Rheingold by Wagner.
The Enthusiasts (18%): For them, consumption is unquestionably an end in itself. They consume for the sheer pleasure of it, for gratification, to escape, to give meaning to their lives, for the pride of flaunting the most prestigious and innovative products on the market, to express their uniqueness, as a source of inspiration, as a way to feel empowered.The main value proposition to convince them to buy: innovation.
The Idealists (19%): they dream of social equality, ecological lifestyle choices, social engagement and solidarity, and sincerely believe that where there’s a will, there’s a way. The main value proposition to convince them to buy: change the world, one small step at a time!
The Responsible (18%): Social and ecological responsibility is at the heart of their motivations, but here it is their connection to others that causes them to act-the appeal of helping others, to be a part of a human movement. The main value proposition to convince them to buy: let’s get involved together.
https://www.crop.ca/en/blog/2018/250/

Forever 21 closing in downtown Toronto (as one of its earliest founders, could this mean the end of fast fashion?)
https://www.blogto.com/fashion_style/2019/08/forever-21-bankruptcy/


Technology

– AI becoming more useful in the guiding users through their journey, a blend of content (video & other) served up by a chatbot at the right time and place in the buyers journey. – Jeff Stripp, VP, Marketing & Sales, Zogics
– That online and offline markets will become more connected and offer consumers a better user experience across all channels whether online or offline. – Emil Kristensen, CMO and co-founder, Sleeknote
https://www.bigcommerce.com/blog/ecommerce-trends/#7-ecommerce-trends-for-the-entire-retail-industry

– Difference in how generations shop online: Gen Z, Millenials, Gen X and Baby Boomers
https://www.bigcommerce.com/blog/ecommerce-trends/#96-data-points-on-the-state-of-ecommerce-around-the-world

– Increasing importance of the internet in decision-making, with half of consumers conducting an online search prior to buying. Also, online shopping is growing and online reviews are critical: BDC Findings indicate that 47% of consumers conduct an online search before buying and 70% trust consumer opinions posted online.
https://www.cbc.ca/news/business/5-canadian-consumer-trends-to-shape-the-future-of-retail-1.2129072

– Overall, Canadians are demonstrating an ever-increasing willingness to embrace the world of e-commerce, are becoming more receptive to new and innovative payment methods and are growing more confident storing data and purchasing online. Market forecasts suggest that the industry is set to grow significantly over the next few years. If more Canadian retailers and consumers begin to explore and utilize the benefits of e-commerce, these forecasts could come to fruition.
https://www.statista.com/topics/2728/e-commerce-in-canada/


Environment

The Plastic pollution crisis –> Shift to mindful consumerism upon realizing our environmental impact: “Today, much of our resource-intensive consumerism is still mindless […] hard to connect our own behaviour to the problems in the depths of the ocean” – The push against plastics by Jemima Kiss, The Guardian weekly, page 30, June 21st 2019

Urgency of climate change and need for more mindful consumption:
https://www.ecosia.org/search?q=urgency+of+climate+change+and+need+more+more+mindful+consumption&addon=chrome&addonversion=2.1.0


Economy

Growth in sustainable fashion clothing (increased demand, more competition)
https://www.goodhousekeeping.com/clothing/g27154605/sustainable-fashion-clothing/

Shop less live more – save the planet.
https://www.theguardian.com/commentisfree/2019/aug/31/shop-less-green-future-sustainable-environment-retail
Canadian incomes are stagnant and debt is high, meaning consumers are cautious about spending. As the baby boomers retire, an increasing portion of the population will be living on fixed incomes (need products of value). BDC Findings: 2 of 3 consumers say the main factor in a purchase is lowest cost.
https://www.cbc.ca/news/business/5-canadian-consumer-trends-to-shape-the-future-of-retail-1.2129072

Canadian e-commerce ecosystem is booming (2016)
https://www.canadianbusiness.com/innovation/canada-ecommerce-innovators/

Emergence of “impact economy” – economy of social and ecological impact – is creating opportunity for businesses to supply this demand to concerned consumers; with a need to create efficiency for this market and optimize distribution chains.
https://www.crop.ca/en/blog/2017/190/


Political

Canada to ban harmful single-use plastics and hold companies responsible for plastic waste
https://pm.gc.ca/en/news/news-releases/2019/06/10/canada-ban-harmful-single-use-plastics-and-hold-companies-responsible
https://www.nationalgeographic.com/environment/2019/06/canada-single-use-plastics-ban-2021/
Canadian Legal Guide : privacy laws/data protection, anti spam (CAN-SPAM Act)
https://www.shopify.ca/guides/canada

Import regulations, labelling laws, customs duties
https://www.international.gc.ca/controls-controles/about-a_propos/impor/importing-importation.aspx?lang=eng


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

The end of fast fashion, the loss of mass retailers such as Forever 21, H&M, Zara, Joe Fresh, etc.


Quadrant II: High impact / Likely to Occur

Social shift in consumer mindset, valuing products that are ethically and sustainably made; growth in “impact economy”

Quadrant III: Low impact / Unlikely to Occur

Economic downturn where Canadian incomes are stagnant and debt is high: Baby boomers are on a fixed income and use low cost as main purchasing factor


Quadrant IV: Low impact / Likely to Occur

Social shift in consumer focus favouring products that are locally made and sourced, as opposed to internationally, due to sustainability factors

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

https://www.forbes.com/sites/jiawertz/2018/11/28/5-trends-that-will-redefine-retail-in-2019/#5d7203876526

consumer preference for transparency in businesses (https://www.stellarising.com/blog/consumer-trends-2018-brands-inside-the-glass-box, https://www.frameweb.com/news/retail-expert-gives-key-industry-insights) – corporate social responsibility, social consciousness, sustainability issues, treating suppliers ethically. Creating the right ‘culture’ and ‘community’

Online Shopping: consumers enjoy the convenience of online shopping with fast shipping. Having a physical store but also an online presence to serve both types of customers

Experiential Shopping: higher levels of engagement versus just buying a product. technology based

Subscription E-Commerce: businesses that curate products and ship them to customers on a regular basis. The sector has been witness to explosive expansion since 2010, growing from $57 million in sales to more than $2.6 billion by 2016. According to a report by McKinsey & Company, 15% of online consumers signed up for subscription services in 2017. The trend goes hand in hand with users’ search for experiences, as they are more willing to shell out cash for a service that delivers a tangible benefit along with a personalized offering.

Indian Jewelry Market (https://www.linkedin.com/pulse/indian-jewellery-market-overview-consumer-trends-aakil-mathur/)


Technology

SMART Factories: Fully automated factories are now approaching reality. Sophisticated machines, intelligent robots infused with future technologies will soon allow a plethora of machinery to rapidly manufacture and fabricate products on demand, without any human intervention. The entire production line will be configured with artificial intelligence allowing direct access and control to different machinery in the manufacturing process.

Use of Social Media for online searching for products – product discovery becomes more visual (https://www.globalwebindex.com/hubfs/Downloads/Trends-19-report.pdf)

Growth in B2B e-commere sales – 6.6$ trillion increase by 2020 (https://ecommerce-platforms.com/articles/5-future-ecommerce-trends-of-2019)

Online platforms + technology is new to Haiti – this is an opportunity that can be beneficial


Environment

environmental policies which affect manufacturers in India

Natural Disasters: Haiti is prone to hurricanes and earthquakes, and if hit hard, it will negatively impact the economy like it did in the 2010 earthquake and 2016 hurricane.


Economy

New Trade Zones 2020: Governments are entering into new trade agreements which will spur the development of new trading hubs and increase in trade volume in 2020. These trade agreements will also lead to zero tariff rates and favourable prices for goods in 2020, particularly for countries in Asia, Africa and Latin America

Western Brands experimenting with Indian textiles: Indian garments are considered as the right value for money. International brands are showing increased trust in India which enhanced the brand value of Indian garments. Gap sources almost 30% of its apparels from India. Brands renowned for their jeans apparels such as Adidas, Van Heusen, Arrow, Killer, Zodiac, and Pepe are expanding into new product categories such as womanswear. Killer brands plans for brand extension by introducing watches, and perfumes. Well established players like Century Mills are extending their label to womenswear.

India is the 2nd largest producer and exporter of textiles, they are predicted to surpass China due to China’s economy slowing down


Political

New Trade Zones 2020:Governments are entering into new trade agreements which will spur the development of new trading hubs and increase in trade volume in 2020. These trade agreements will also lead to zero tariff rates and favourable prices for goods in 2020, particularly for countries in Asia, Africa and Latin America

Political Corruption in Haiti: destabilizes the country through violent protests that shut down cities, close roads, and disrupt the economic operations of local businesses.
It is very important to be aware of the socio-political and economic climate in Haiti because it is a developing country that has a deep-seated history of a corrupt government. In the past year there has been increasing instability across the country where citizens have held violent riots in protest against the government. Government officials embezzled an estimated $2 million dollars from PetroCaribe, an oil agreement with Venezuela that allowed the Haitian government to defer payments so they can focus on implementing social and development programs. The protests over PetroCaribe also represents the deep-seated historical reality of corruption within the Haitian government; the World Bank says corruption is the biggest cause of poverty in Haiti.

Currently Haiti has been facing a fuel shortage because the government cannot pay the debt they owe to the companies who import gasoline; companies have been refusing to deliver gas until they are paid. Those with money or connections can access gas, but the majority of Haitians cannot afford it, especially now the price has doubled. This results in businesses being forced to shut down and leaving people without wages which only further impoverishes them. This type of situation is sadly not uncommon in Haiti and the likelihood that this will continue is strong due to the political and economic corruption that plagues the country. It will be important to monitor the climate in the country and pay attention to rumours so that one can prepare themselves in advance so they will not face economic hardships that can threaten the stability of their businesses.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Decline of e-commerce + appeal of online shopping

Decline of supporting ethically produced items


Quadrant II: High impact / Likely to Occur

Protests sparked by political corruption and economic hardships that temporarily shut down businesses

Natural Disasters hitting Haiti like 2010 earthquake

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Aging population
Local society is a senior demographic
Rental crisis in Peterborough – nowhere for people to rent.
Waiting lists for nursing homes too long for people to wait (assumption).
Aging at home – People wanting to live in their houses rather than go to a home.


Technology

Modern efficient technologies (also environmental)


Environment

Building practices that reflect environmental consciousness
The overall trend to live in tiny homes.


Economy

Our target audience has a wide range of spending $ (assumption)


Political

Likely more support from the government to have people live in their homes (assumption).


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Ageing population
Government $
Tiny home movement
Green building practices
Long waiting list for nursing homes
Lack of housing/rentals in PTBO

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

An increase in the use of extracted pure CBD products for medical reasons compared to traditional smoking and other consumption methods are able to affect sales of smoking products.
Trade agreements between countries can also affect the supply and distribution of products.


Technology

E-commerce is a fast-growing industry and there are constantly new players coming into the market.


Environment

not many


Economy

Rise or fall of a dollar, euro, peso, etc value across the world may affect sales for better or worse.


Political

A politician that is publicly against the use of marijuana may affect sales or advertising strategies.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

An increase in the use of extracted pure CBD products for medical reasons compared to traditional smoking and other consumption methods are able to affect sales of smoking products.
Trade agreements between countries can also affect the supply and distribution of products.


Quadrant II: High impact / Likely to Occur

E-commerce is a fast-growing industry and there are constantly new players coming into the market.

Quadrant III: Low impact / Unlikely to Occur

Rise or fall of a dollar, euro, peso, etc value across the world may affect sales for better or worse.


Quadrant IV: Low impact / Likely to Occur

A politician that is publicly against the use of marijuana may affect sales or advertising strategies.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Lifestyle changes
social mobility
income distribution


Technology

new inventions and development
rate of technology
life style cycle
changes in information technology
changes in mobile technology


Environment

environmental regulations and protection


Economy

Economic growth
unemployment
inflation
interest rates


Political

government attitude
political stability/instability


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

polilitical factors


Quadrant II: High impact / Likely to Occur

economics factors

Quadrant III: Low impact / Unlikely to Occur

social factors


Quadrant IV: Low impact / Likely to Occur

technological factors

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Short form advertising for social media, videos that grab the attention of the viewer within the first five seconds.


Technology

Advancement of technology used to film/create the videos like filming on phones, different types of cameras to create different types of feelings. Creating videos with VR.


Environment

Climate change – I want to be very transparent to clients that the productions are trying to be very environmentally friendly and ensure we are reducing our environmental footprint.


Economy

In this current local (Alberta) it is very tough for the creative arts which is a bad and good thing- it is currently very tough for a production house but it would also allow me to build a package for small local business that meets the financial range that it caused by the economy. Currently there is a trend in the market to shop and buy locally it would be interesting to be a local business supporting other local businesses.


Political

Currently the political state of Alberta causes a lot of problems in the area of my industry- a lot of local creative production companies are leaving for Toronto or Vancouver. There is a huge demand for Government funding and little money to be put into those activities. Although since the political party took power there has been a pop-up of many support groups like AMPIA, WIFTA and ESSIO.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

All businesses having an internal team or self making their own videos.
Different Political power putting more into Arts and Culture.
Commercials/ads being removed from TV or social media platforms.


Quadrant II: High impact / Likely to Occur

Changes in technologies and technique.
Customers wants and need with ads.
Social Media growth and changes/Social Media use decreases.
More competition with the creation of more media companies.

Quadrant III: Low impact / Unlikely to Occur

People only consume media at home.


Quadrant IV: Low impact / Likely to Occur

People not watching as many music videos or as many documentaries.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The film industry is growing more and more popular each year.
People general prefer their news in video form rather than reading articles.
More businesses are trying to reach these customers by making videos to place on these social media sites.


Technology

Cell phones are becoming more capable of displaying good quality videos.
More people are consuming media more frequently.
The equipment required to make films is becoming inexpensive and better quality at the same time.


Environment

Many people are becoming more environmentally orientated. They may be turned off from a film if I used to many resources.


Economy

People are more afraid of a recession and are spending less on vacations. This drives them towards forms of entertainment like film. If you already have the equipment to make the film, Film making is basically recession proof and guaranteed profit.


Political

The government has been putting less and less money into the arts while trying to force outdated means of fixing the economy. This forces organizations that provide grants to select already well established filmmakers outside of their grants criteria in order to ensure a return on investment.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Businesses decide to advertise by sponsoring only creative films.


Quadrant II: High impact / Likely to Occur

The popularity of film continues growing.
Technology continues to become cheaper and higher quality.

Quadrant III: Low impact / Unlikely to Occur

Technology becomes stagnant and cameras stay at the quality they are now.


Quadrant IV: Low impact / Likely to Occur

people watch more movies at home instead of the theater.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Public opinion on bicycling for commute.
Perception of danger for bicycles on roads.
Traffic.
People looking for green ways to commute.


Technology

Motors and batteries are getting easier to source, cheaper and better.


Environment

Weather
Traffic


Economy

Increasing cost of living.


Political

Bicycle infrastructure
E-bike regulation.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

E-Bikes are banned or become highly regulated.
TTC delays and overcrowding continue to get worse, and in more areas.


Quadrant II: High impact / Likely to Occur

Cost of living continues to increase.
Traffic continues to get worse.
Population continues to increase.
Gas price continues to increase.

Quadrant III: Low impact / Unlikely to Occur

Bicycle infrastructure plans are changed.


Quadrant IV: Low impact / Likely to Occur

E-Bike market continues to grow.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Societal trends – Brand Loyalty. Customers will try an assortment of products until they find the one. after that they stop looking. they become brand loyalists.


Technology

technological trends- 24hr access. Purchasing products at given time through eCommerce. The advantage of this is smaller brands are able to catered to niche products that aren’t sold at retailer stores.


Environment

growing concern over impact of cosmetic product manufacturing & distribution on the environment. Beauty industry is focusing on being more eco friendly. there’s still a growing issue with heavy plastic usage.


Economy

A recession – resistant industry. The beauty industry is more resistant to economic recessions. It survived the great recession of 2008. Employment for this industry nearly one million people are employed & numbers are only going up.


Political

strict guidelines. In the states a bill called the Personal Care Product Safety Act allows the FDA to have more of a hands on approach to ensuring product safety. companies would need to report ingredient statements, recalls, and register manufacturers. Canada has a harsher ingredient requirements. Out of 1328 cosmetic ingredients they’ve banned over 500.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Societal trend of brand loyalty may have a high impact but unlikely to occur. with the industry being very saturated consumers tend to take trial and error process till they find the right product that works for them.


Quadrant II: High impact / Likely to Occur

political- Strict Guidelines are highly likely to impact my business. With the strict regulations for ingredients and manufacturing guidelines may be affected.

Quadrant III: Low impact / Unlikely to Occur

technological trends would have a low impact and unlikely to occur. Having an online business which is advantage to many being able to target selected of consumers.


Quadrant IV: Low impact / Likely to Occur

environmental trends, with the beauty industry becoming more eco friendly with packaging and the use of non recyclable products.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Meaning of luxury will shift with millennial generation who value an experience over tangible goods.
– Demand of cross cultural designs and representation
– Countries in Asia will adopt Western trends and habits.
A demand of variety will rise.


Technology

– Luxury brands must aim for an online presence across multiple platforms for long-term success
– Consumer will prefer digital experiences that represent a well-known brand image and story
– Demi fine jewelry production will continue to rise and grow, especially in Latin America with the rising middle income.


Environment

– Sustainability and awareness will continue to grow, with consumers wanting to learn more about where and how products are made
– Many business models in the “rent” category will be introduced to consumers, with the intention of renting products over final purchase.
– Environmental responsibility will become more of an expectation with luxury companies


Economy

– Largest market will be in Asia, however North America has the fastest growing market for luxury Latin America will rise and grow overtime, but not lead – just yet.
– New millennial market segment offers brands/ corporations a 20 year supply of consumers.
– Luxury sales will grow 3x faster at 14%
-The jewelry market will make 30-40% of the luxury market
– Annual sales in jewelry will grow to 5-6% a year


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– most consumers in the market will become “Henry’s”
– preference of renting over buying
– less fashion shows through year


Quadrant II: High impact / Likely to Occur

– luxury sales will grow online by 14%
– jewelry sales will grow annually 5-6%
– strong demand for multi platform presence

Quadrant III: Low impact / Unlikely to Occur

– rise of demi fine jewelry over fine jewelry


Quadrant IV: Low impact / Likely to Occur

– more distinctive designs are required for long-term success and branding
– demand of cross cultural designs and interperations

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Youth are becoming more creative and entrepreneurial
Youth are engaged in various forms of part time and precarious labour
The music industry is highly saturated–lots of low quality and high quality music


Technology

Digital media is taking over the music industry


Environment

Potential partners are geographically dispersed. Most of the music industry is dominated by the US


Economy

Very few artists are making money


Political

Fiscal conservativism is leading to declines in public investment in the arts


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Many people are looking for ways to have more freedom, health and vitality
– People are switching to healthier options in all aspects of their lives


Technology

– Technology is consistently advancing


Environment

– The way we live isn’t sustainable
– Many are coming up with ways to produce less waste


Economy

– The cost of living is rising
– 84% of people have a positive outlook on entrepreneurship
– 56% of people imagine starting their own businesses


Political

– The scale of proper inexpensive healthcare is slowly tipping in a negative direction


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Enagic going out of business


Quadrant II: High impact / Likely to Occur

– The advancement of technology
– People having trouble paying for expensive products
– Sustainability becoming a big issue

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Stress in the workplace causes less productivity and studies have shown remote workers to be 12% more productive.
People are finding the work-life balance more manageable and attainable with remote work which is contributing to the global rise in virtual assistance/ remote jobs.


Technology

This industry is based around the accessibility to technology and the various ways to utilize it through easy sharing and editing documents via Google drive, the use of text to speech, the ease in employers being able to pay via direct deposit, PayPal, etransfer.
(I couldn’t find the best research for this but it is pretty obvious for this one)


Environment

The stress in a workplace, again. Local jobs in your field harder to come by in overpopulated cities


Economy

Hiring remote workers is lower overhead costs for employers


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Human done jobs becoming obsolete


Quadrant II: High impact / Likely to Occur

Increase in companies hiring people to do jobs remotely
Businesses have a larger range for finding reliable/capable employees

Quadrant III: Low impact / Unlikely to Occur

Computers can do basic jobs.


Quadrant IV: Low impact / Likely to Occur

Increase in digital work platforms

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Growing awareness & motivation to take action about climate change.
Increasing demand for “sustainable” and “green” lifestyles.
Growing awareness & motivation to work toward Truth & Reconciliation with Indigenous people.
Growing interest in Forest and Nature Schools.
Increase in mental health issues in young people, reduced stigma to talk about it, seek help.
Decrease in children’s physical activity and motivation to address how this impacts physical health.
Increasing discussion around “access & equity” generally, and particularly in connection to experiences in nature.
Increase in scientific research that “proves” value of connection to nature.


Technology

Increase in online platforms for communication and learning (e-courses, webinars, digitally downloadable content).
Technology “overload” people are seeking connection to “real world” to strike balance.


Environment

Climate change.
Environmental degradation.


Economy

Increased interest in “social enterprises” that are socially minded not just profit driven.
Corona-virus scares reducing number of people traveling and impacting some businesses.


Political

Creation of policies that attempt to address climate change and promote sustainability.
Moving to eliminate discrimination and institutional racism against Indigenous people.
Education policies, some pushing rigorous curriculum and standardization.
Reduced school budgets in Ontario and ongoing strike.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Corona-virus scares reducing number of people traveling and impacting some businesses.


Quadrant II: High impact / Likely to Occur

Reduced school budgets in Ontario and ongoing strike.

Education policies, some pushing rigorous curriculum and standardization.

Climate change & environmental degradation.

Creation of policies that attempt to address climate change and promote sustainability.

Increased interest in “social enterprises” that are socially minded not just profit driven.

Technology “overload” people are seeking connection to “real world” to strike balance.

Increase in online platforms for communication and learning (e-courses, webinars, digitally downloadable content).

Growing awareness & motivation to take action about climate change.

Increasing demand for “sustainable” and “green” lifestyles.

Growing interest in Forest and Nature Schools.

Increase in mental health issues in young people, reduced stigma to talk about it, seek help.

Decrease in children’s physical activity and motivation to address how this impacts physical health.

Increasing discussion around “access & equity” generally, and particularly in connection to experiences in nature.

Increase in scientific research that “proves” value of connection to nature.

Growing awareness & motivation to work toward Truth & Reconciliation with Indigenous people.

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Moving to eliminate discrimination and institutional racism against Indigenous people.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

People don’t read as much,


Technology

Helps to produce more, can cut down costs and increase revenue,


Environment

Wildfire, hemp production is low for the year, people stop reading books


Economy

imports of paper products are challenging to get,


Political

Some legislation bans certain types of books


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

hemp production is low for the year
Some legislation bans certain types of books


Quadrant II: High impact / Likely to Occur

Wildfire/fire on farm

Quadrant III: Low impact / Unlikely to Occur

people stop reading books


Quadrant IV: Low impact / Likely to Occur

imports on paper are challenging to get
exporting books, magazines, etc take a long time

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Unprecedented access: Customers have access to all type of information about products.
Connect more with tech than touch: Rising in E commerce
Aging baby boomers
Consumer values shifting towards healthier food options
Increased consumption of prepared foods


Technology

Breakout moment of artificial intelligence (AI) in manufacturing
Biofuels, Bioplastics
A shift from gasoline to electric vehicles
Evolution in Agriculture – technology to Grow Crops Efficiently


Environment

Huge Reductions in Plastic use
Opting for Sustainable Building Materials
Recycling and Repurposing Resources


Economy

Canadian factories more sensitive to wage inflation
Canada is still too dependent on the energy sector
Low savings rates reflect overburdened consumers


Political

Canada’s labour force depends on immigration
tariffs
Canadian is losing ground to the U.S. on competitiveness
Government regulation of food/labelling


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Breakout moment of artificial intelligence (AI) in manufacturing
Low savings rates reflect overburdened consumers


Quadrant II: High impact / Likely to Occur

Unprecedented access to information
Rising in E commerce
Consumer values shifting towards healthier food options
Increased consumption of prepared foods
Evolution in Agriculture
Canadian factories more sensitive to wage inflation
tariffs
Government regulation of food/labelling

Quadrant III: Low impact / Unlikely to Occur

Canada is still too dependent on the energy sector


Quadrant IV: Low impact / Likely to Occur

Aging baby boomers
A shift from gasoline to electric vehicles
Huge Reductions in Plastic use
Opting for Sustainable Building Materials
Recycling and Repurposing Resources
Canada’s labour force depends on immigration
Canadian is losing ground to the U.S. on competitiveness

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Sanitary reasons


Technology

Better paint technologies that produce better shone when clean & polished


Environment

Weather change. Cold months less details & car care because nobody cares how their car looks in the wintertime
Warmer months are best for business with auto detailing but ok for tinting as people are getting snow blindness on the roads & need their interior darkened


Economy

Water price & sewage removal
Creation of jobs & ability to support staff workers
Prices for cleaning products & maintenance for equipment being used


Political

Environmental friendly ways of working with cars to leave a smaller footprint


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Political impact


Quadrant II: High impact / Likely to Occur

Sanitary reasons social
Paint technologies

Quadrant III: Low impact / Unlikely to Occur

Jobs & maintaining payroll


Quadrant IV: Low impact / Likely to Occur

Weather changing amount of customers for auto detailing impacting my profit

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Society is moving towards a more sustainable future, including supporting local businesses. More emphasis is on social consciousness and sustainability, and we aim to work towards improving our local economy. A move that should help us capitalize on the current societal trends. It is moving away from the cookie cutter model, and more towards customized solutions, something that we offer.


Technology

Technological trends are moving in the way of online/remote work. Many tools are now available to optimize processes for not only business owners but clients and consumers as well. While there are many technological advancements that could be a potential threat, knowing how to find the most efficient solutions, coaching clients and offering support to transition into a digital age is a huge opportunity.


Environment

Sustainability in small business and hospitality is a huge new trend. From local suppliers, to environmentally friendly cleaning products, every business is moving towards these goals. By aligning ourselves with the UN SDG’s we are not only able to offer support to lessen the environmental impact, but we are aligned with many partners in this space, who can be of additional support.


Economy

Small business support is offered by the government but many businesses lack the resources to receive it, creating for a huge opportunity to connect the dots. A recession is on the horizon, pushing owners towards finding more efficient and cost effective solutions. While this appears to be a threat on the surface, it is creating more of a need to take action now, to ensure they are able to survive the upcoming wave.


Political

Politically, somewhat related to the economy portion, parties are increasingly putting emphasis on training, support and resources for small business owners, as over 97% of the economy is considered in this category. With the political horizon of the USA, many businesses are choosing to support Canadian businesses, offering selections for local consumers.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Restaurant and Bar Legislation increasing the amount of support for hospitality owners in the form of loans etc.
– Laws and legalities surrounding the alcohol and food industries, increasing or decreasing strictness.


Quadrant II: High impact / Likely to Occur

– Increasing cannabis businesses, affecting all current entertainment/consumption industries.
– Remote work trends emerging, requiring new skills/tools to navigate the entrepreneurial landscape.

Quadrant III: Low impact / Unlikely to Occur

– War or any international conflict, during which time our industry will not be impacted very much.


Quadrant IV: Low impact / Likely to Occur

– Recession, as the hospitality and SMB markets are generally even keel during these times.
– COVID-19, as this pandemic is likely to occur globally, but with our trajectory and services, this is unlikely to have a large impact, compared to other businesses.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Epidemic – Limiting incomes, transportation of goods, change of interest ‘survival’
//Also spending more time in home ?
Importing of foreign goods
Closing of box stores ?
Low Income
Interest in “green” products
Reusing – via interest or need
Locality
Women Empowerment
Comfort / Every Day Homewear

“All theories of Social Change also admit the likelihood of resistance to change, especially when people with vested interest feel unsettled and threatened by potential changes”


Technology

Change in tools/machinery
Limitations on Lessons / More options online due to quarantine limitations
Increase of Online Opportunities
Transportation of goods – availability, limitation, price increase of foreign goods

“Disruption due to technological change is nothing new, history is littered with such examples where, in some cases, whole industries were superseded almost overnight… the key is to embrace the best of the new, and the best of the old.”


Environment

Climate Change
Environmental Impacts of Fast Fashion ie. micro plastics –
Need / Interest for Natural Fibres ; Cottons, Hemp, Silk, Cotton/Silk Lace ?
Natural Dyes ie. turmeric, indigo, butterfly pea,
Environmental Laws could destroy certain industries – overusing water, slave trade labour, toxic dyes, waste

4 Main Animal Fibres: wool, silk, camel hair, and angora
4 Main Plant Fibers, cotton, flax, hemp, and jute


Economy

Fluctuations in Consumption
Lower Economy – Less Spendings – products that last being more needed
– is this product a necessity ? – trade / bartering systems
Higher Economy – Spending More – for the sake of – intro fast fashion

‘Economic change is a shift in the structure of an economic system. This results in changes to societies, cultures and everyday life on a global or national basis. Economic change caused by technology, politics and progress is a regular feature of history.’


Political

Women entering the work place – spending money the way we want to on what we want to
Female Empowerment – Moving away from restrictive under garments that focus more on that look, than the feel. Combining ‘looks good’ & ‘feels good’
Sexy garments for more than the ‘A Typical Woman’ – ie plus size, pregnant/breast feeding, trans, work out
Political disagreements – affecting trades of goods

‘Political changes most often stem from social or economic issues that a country may be facing. For instance, political change may be caused by social issues, such as the tensions between differing racial and ethnic groups or policies that deny specific groups of people civil rights.’


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Apocalypse deterring interest away from lingerie (this was written in my notes sometime around the end of February, and HELLO how the times have changed)
Commando Lifestyle
Everyone joins a Nudest Cult


Quadrant II: High impact / Likely to Occur

Change in Economy
Increase interest in ‘Green’ Materials
Locality trends
Fabric supply shortage ie Corona (called it)
Box Stores Close down

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Big Industries making ‘comfort wear’

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– social media age, people want quality photos to share
–


Technology

– the rise of film cameras
– better phone cameras
– new camera tech, more affordable options means more people getting into photography


Environment

– less people buying prints because it’s not green


Economy

bad economy can lead more people doing side jobs such as photography for friends and family
– can also lead to low sales as people don’t have the extra money to spend on photographs


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– cancellation of tournaments/games due to weather or forfeit
– no teams/races to photograph


Quadrant II: High impact / Likely to Occur

lower sales because of:
– down economy
– rise of film cameras
– growing camera tech, offering many more options at all price points, leading people to buy their own cameras and take photos

Quadrant III: Low impact / Unlikely to Occur

– less people buying prints because of environmental impact


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

As Millenials move into the workforce, online shopping will increase in popularity( millennials have used the internet since childhood).


Technology

Advancements in e-commerce tech, computers and mobile devices will increase e-commerce online sales. Brands will focus on their online stores, making ChangeRoom’s tech more relevant.


Environment

Environmental consciousness is becoming quite important, as issues with climate change, pollution After many clothing products are returned, a significant portion of the clothing ends up in landfills or are burned up according to company policy. Our brand’s goal is to reduce returns so this doesn’t happen.


Economy

Due to the coronavirus outbreak, it could put the economy in a recession for the next couple of years, which would mean a huge drop in spending. This will affect the sales of almost all b2c business including ChangeRoom.


Political

An major increase in minimum wage would affect our future balance sheet. There is an increase in grants for youth with small businesses. Restriction in working with US businesses and other international businesses.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Political: Restriction in working with US businesses and other international businesses.


Quadrant II: High impact / Likely to Occur

Technology, Economy and Society

Quadrant III: Low impact / Unlikely to Occur

Political: Increase in grants for youth with businesses


Quadrant IV: Low impact / Likely to Occur

Environmental
Political: An major increase in the minimum wage would affect our future balance sheet.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

new animes, cartoon, comics, movies, video games


Technology

3d printers
laser engravers
vinyl cutting / dye-subliminal printer / heat press
sowing machines


Environment

the fact that filament is plastic


Economy

conventions like Comicon, g-anime, anime north and many more
economical crises because people are less likely looking for costumes for cons


Political

band of all form of plastic


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

band of all form of plastic


Quadrant II: High impact / Likely to Occur

less cons since covid-19

Quadrant III: Low impact / Unlikely to Occur

having to do only social work


Quadrant IV: Low impact / Likely to Occur

how to create online classes to teach others how to 3d print

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

More people are discovering the value of Reiki & alternative medicine, and are willing to pay.
More people are also not willing to pay for expensive self care services, especially nails.
However, when people see that they can get the services for a cheaper affordable price they are more likely to want to pay for the services.
Covid-1`9 (social distancing)


Technology

Online/social media advertising, email seminars, training, subscriptions, panflets.
Supplies, equipment.


Environment

Covid-19.
Social distancing


Economy

Covid-19(Social distancing)
Repression.


Political

Regulations, laws & by-laws.
tax credits.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Societal, economic depression.


Quadrant II: High impact / Likely to Occur

Political, societal, technological, environmental, economic repression.

Quadrant III: Low impact / Unlikely to Occur

Technical


Quadrant IV: Low impact / Likely to Occur

political, societal, environmental.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Current fashion trends and styles.


Technology

The cheap simple also low quality fashion made from free trade zones around the world that are easily accessible via online purchses.


Environment

15.1 million tons of fashion / related waste in the year 2014


Economy

a depression, or a pandemic can effect the amount of money people have to spend on clothing repairs, / projects, and or certain textiles, materials are unavailable because there is such a high demand for them everywhere at once. ( elastics for masks)


Political

tax regulations regarding my business if I were to hire employees.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

A complete stop of sewing material like thread production.

House fire.


Quadrant II: High impact / Likely to Occur

Pandemic, having to refuse certain jobs like fitting and measuring clients because of physical distancing to stay safe from the virus.

Quadrant III: Low impact / Unlikely to Occur

Customer without ability to come to my home business, because they do not have a car or are too busy with school or work and my work hours do not allow them to come by. ( I can easily drive to them and factor in the price of the drive)


Quadrant IV: Low impact / Likely to Occur

Certain customers not wanting to work with me because I am not 100% ecological in my business decisions even if that is a goal I am striving for, for the future.
Customer who is in a wheelchair, or mobility issues, can’t come in because I a staircase and no accessibility like an elevator.
( I can easily drive to them and factor in the price of the drive)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– The rise of fast-paced living in western society impacts the time management of the cleanliness of a person’s living area. Messes, junk, and other things that make a household messy. This positively impacts the demand for cleaning services to solve this problem, and reduce stress and increase productivity in people’s lives.
– The impact of recent events such as COVID-19 and quarantine are and will demand an increase in cleanliness for businesses and communities which translations to increase in service wanted.
– There will be a lot of newcomers after a vaccine is found, which increases demand jobs.


Technology

– The advancement of technology taking over many sectors can potentially take over the cleaning industry in the following years, so over companies could take away our business before we could innovate on our behalf.
– The integration of technology of products such as vacuums, mops, brooms, and more that still need a human to operate can reduce the physical demand for the workers operating which reduces the risk of injury, or strain that can occur on the job.


Environment

– Climate change is a relevant topic that affects the way people, businesses, and organizations want to make a positive change which translates to eco-friendly products being sought after. These products are usually more costly which is a challenge trying to keep the price competitive.
– The use of eco-friendly products can have positives for the business as customers that take notice can appreciate our care for the environment.
– Yet many claims that products that are labelled eco-friendly are not subpar to it claims, this can lead to being falsely misleading clients that products are not toxic when in fact being so, unknowing our team could be using harmful products. This can be solved by investigating, but new research always arises which means that one be always be notified about future studies.


Economy

The Canadian economy is predicted to take a toll due to the recent events and we all ready declining before the pandemic. There are many small businesses that are affected financially, so those who remain that were affected will need time to regain stability. This translates to a reduced number of businesses asking for service, so in other words business increases when the economy is stable and vice-versa.


Political

The 2019 Canadian Federal election elected the liberals and Justin Trudeau proposed that he would allow a big stream of refugees during his term. So this leads to a higher demand for jobs, and this allows another opportunity to hire workers and allow them to earn a stream of income.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Technology taking over all cleaning sectors by 2030 and replacing humans; this will have a huge negative impact as the industrial become revolutionized but is this unlikely since the current machines that are automated for cleaning do not compare to a job that a human can (yet).


Quadrant II: High impact / Likely to Occur

An increase in cleaning services wanted due to COVID-19. An increase in newcomers will result in more jobs wanted, which means workers will be obtained easier. With more newcomers, past studies have shown that the economy becomes stronger, so this translates to a higher demand for cleaning services.

Quadrant III: Low impact / Unlikely to Occur

Creditable being justified to the products used by our business, this unlikely because trusted brands test their products thoroughly, so the chance of it being a total recall is slim. Issuing an apology with an explanation to customers will mandatory if this were to occur.


Quadrant IV: Low impact / Likely to Occur

The economy will take a hit and there will less service required, but this likely there will always be a demand for cleaning service, so the business plan can still be fulfilled later than expected.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

None


Technology

None


Environment

In my Business I would need a sunny day so we can play some baseball


Economy

None


Political

None


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

A Thunder Storm


Quadrant II: High impact / Likely to Occur

Rain

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Wind

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Covid-19:
– Work from home is the norm
– return to office is happening, but very slowly
– people prefer to wear more comfortable clothing as opposed to dressier clothing


Technology

– The need to look somewhat professional over video call
– increased usage of instagram and tik tok to show off outfits (as opposed to in person events and parties)


Environment

– need for sustainably made clothing (less mass production will be allowed, more “make to order”)


Economy

– Economic downturn due to covid-19 pandemic
– many people have lost jobs
– lower demand for luxury goods, higher price point for services


Political

– Due to covid-19, supply chains may be disrupted, there could be more of a need and demand for canadian made products


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Office workers return to full time office work
– Millenials earn more money in their careers
– formal events (weddings, etc) come back in full force


Quadrant II: High impact / Likely to Occur

– part time return to office for business leaders
– WFH more often / flexible working hours

Quadrant III: Low impact / Unlikely to Occur

– retail returns to brick and morter stores


Quadrant IV: Low impact / Likely to Occur

– increase in consumption of loungewear products
– fashion production moves offshore

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

People are generally more interested in health and weightloss than ever before because we have seen as a society the effects that result from not taking care of ourselves (be it health concerns, drains on the economy etc). There is high demand from both young and old people for fitness and physical development as young people want to prevent and older people want to reverse the effects of aging.


Technology

There is a large rise in at home work equipment and workouts online but that kind of works in my advantage as I want a portable gym. It will make marketing both easier and harder because of the competition.


Economy

Fitness companies are leisure service providers. There might be a decrease in number of customers if there is an economic decline as they have less disposable income. However, many people are starting to view their health as less of a leisure service and more as an investment to stay healthy in the future.


Political

Being a in the fitness industry, legal issues come into play in health and safety matters. Rules and regulations should be strict regarding quality of equipment used.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

People no longer want to become healthy and exercise


Quadrant II: High impact / Likely to Occur

->Covid-19 requires gyms to close again or people do not want to go because of the germs
->Internet access helping people work out at home.

Quadrant III: Low impact / Unlikely to Occur

Vehicles are mandated to be electric (depending on cost maybe I could lease an electric)


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Covid 19
Alignment with products to socio culture diversity
Customer attitudes
Shopping habits offline and online preferred channels channel switching
Social Influencers


Technology

Augmented reality enhances the reality of online shopping.

Mobile shopping is still on the move.


Environment

The impact of environmental change – eg materials availability, flood risk, water shortage, carbon footprint, pollution

After clothing being used by the customers, it turns up in the form of waste.

Rise of ethical and environmental conscious consumers leading to new trends like organic cotton and recyclable materials.


Economy

Interest, currency and credit risk
Foreign currencies
Consumer confidence
Trade agreements
Exchange rates


Political

Government changes that will affect trading – eg taxation & duty, grant funding, stability, international trade policy, environmental policy
Tax rates


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Augmented reality enhances the reality of online shopping.


Quadrant II: High impact / Likely to Occur

Rise of ethical and environmental conscious consumers leading to new trends like organic cotton and recyclable materials

Quadrant III: Low impact / Unlikely to Occur

Back and forth shopping online vs shopping in person online shopping takes a setback


Quadrant IV: Low impact / Likely to Occur

After clothing being used by the customers, it turns up in the form of waste.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Employment trends.
Federal privacy laws.
Equality in the workplace.
Social media trends.
Artificial intelligence in customer service. …
Nostalgia. …
Travel trends.
Movies.
sports


Technology

Augmented and virtual reality.
Artificial intelligence (AI)
Internet of things (IoT)
Cybersecurity awareness.
Cloud integration.
video gaming
f/x movies


Environment

Environmental Policies. Environmental policies are considered the major external factor that can impact the strategy of all business.
Climate Change.
Green Agenda.
Pollution. /by products
Availability of natural resources.
Recycling.
Waste Disposal.


Economy

Economic Systems.and countrys
Economic Policies.
Economic Condition.
Political and Legal Environment.
Social and Cultural Environment.
Physical and Technological Environment.


Political

Emerging Markets are Growing Quickly. …
Industry Leaders are Relying More on Data Analytics. …
Consumers Have Instant Access to More Product Information. …
Rapid Innovation Continues. …
The U.S. is Shifting Toward Isolationism by trying to restart the country


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Businesses have a big role to play in the solution,crisis is over and retailers


Quadrant II: High impact / Likely to Occur

Emerging Markets are Growing Quickly.
Industry Leaders are Relying More on Data Analytics.
Consumers Have Instant Access to More Product Information.
Rapid Innovation Continues.

Quadrant III: Low impact / Unlikely to Occur

Weaknesses in your business plan need revisiting to determine their effect on your


Quadrant IV: Low impact / Likely to Occur

Competitor observation
Make the most of digital tools and analytics to assess industry behaviour

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

There is a major trend to “go green”. This includes a huge shift towards sustainability & being carbon neutral. Due to the impact of COVID-19, consumers & society are also shifting towards supporting local corporations.


Technology

Less people in shopping malls and more people online. NAFSI should focus on e-commerce and look into the possibility of an app on consumers’ phones.


Environment

The fact that fashion is the world’s second biggest polluter and climate change is real is a major driving force behind NAFSI. The environment needs to be taken care of at top priority and retailers/corporations may be held responsible if we do not do our part.


Economy

With COVID-19 came a major loss in jobs and far less outings. This may impact the willingness for people to spend money on new clothes.


Political

Environmental responsibility can sometimes be a sensitive subject. There is a lot of controversy around what research is real and what is considered “green washing”. Political trends may impact the way consumers view sustainability.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Political parties/governments set strict guidelines that adhere to sustainable practices for clothing companies. This includes banning the make of polyester, banning forced labor, banning the use of pesticides & insecticides when growing cotton/hemp/bamboo crops, banning plastic shipping bags, putting a cap on how much carbon one brand can offset per year, etc.


Quadrant II: High impact / Likely to Occur

Consumers opting for sustainable options.
Consumers opting to shop & support local.
Consumers opting for products that support & give back to underprivileged ed communities.
Investors pushing for sustainability.

Quadrant III: Low impact / Unlikely to Occur

Consumers demanding sustainable products at fast fashion pricing.


Quadrant IV: Low impact / Likely to Occur

Higher priced items are not accessible to all consumers.
Higher priced items cater to a smaller audience.
Sustainable items cater to a smaller audience.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

There are current social distancing regulations in place due to the COVID-19 pandemic. This means that many cosmetic procedures have been cancelled or postponed.


Technology

Due to the current pandemic, people are having their consultations with doctors online as opposed to in person.


Environment

N/A


Economy

Many people were laid off as a result of the current pandemic. This could result in less people spending money on cosmetic surgeries.


Political

Currently, we do not how long we will have to maintain social distancing protocols. Until those restrictions are lifted, there are travel bans that make it difficult for patients to travel for surgeries.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

1. All the companies who previously laid off employees to rehire those same employees.
2. Travelling restrictions to remain in place indefinitely.
3. Cosmetic surgery practices closing.


Quadrant II: High impact / Likely to Occur

1. Many people will want to get cosmetic surgeries once the threat of COVID has passed.
2. Doctors will be very busy trying to accommodate all the patients they rescheduled.
3. Longer wait times to schedule surgery with your surgeon of choice.
4. Airlines will increase the cost of airfare to make up for the money they lost during the pandemic. This might deter some patients from travelling for surgery.

Quadrant III: Low impact / Unlikely to Occur

1. Reduced use of technology.


Quadrant IV: Low impact / Likely to Occur

1. The unemployment rate going up over the next several months (up to a year).
2. Many small businesses going out of business.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Dairy free foods
Guilt-free meals for healthy eaters
Importance of food textures
Sustainable practices for environmentally friendly packaging
Eating at popular restaurants


Technology

Food delivery apps
Food delivery websites
Ad promotions on social media to bring increasing audience to the restaurant
Food blogs that share meals at tasty restaurants to show others


Environment

Sustainable packaging is key for the environmentally friendly trends.
Vegan and vegetarian menu is also an environmental trend to stop killing animals because of CO2 emissions from factories.


Economy

In the current state of 2020, the economic trend is to save money on spending food outdoors however with proper marketing techniques and unique food items, it is possible to capture groups of consumers looking to get food outside. Consumer spending habit is lower than usual due to current times.


Political

With increasing views on the non-vegetarian meals, law makers or politics can impact the views of consumers who eat non-vegetarian meals and turning them into vegetarians, since my product will be organic


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Trend to stop buying fresh and organic product


Quadrant II: High impact / Likely to Occur

Trend to try new restaurants

Quadrant III: Low impact / Unlikely to Occur

Trend to try international foods


Quadrant IV: Low impact / Likely to Occur

trend to budget money for restaurant meals.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

coiv19, isolation


Technology

more online, online business, making money online (competition, also big market for website content),


Environment

climate change


Economy

unemployment, stock crash, people need to make money and don’t want to spend too much


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

technology mistrust due to fake news and no privacy
artificial intelligence

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

climate change

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Ecologic awareness
COVID
Housing imbalance
mental health awareness
generation shift


Technology

AI
Automated stores


Environment

Climate change


Economy

Debt Levels
Tariffs
Interest rates
Commodity prices


Political

Queer rights
Inequality rising
Facism


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Tariffs and import fees (on pins etc manufacutred overseas)
Arts purchasing changes


Quadrant II: High impact / Likely to Occur

COVID/move to online selling
Greater levels of debt
generational shift

Quadrant III: Low impact / Unlikely to Occur

Automation
Commodity prices


Quadrant IV: Low impact / Likely to Occur

housing imbalances
climate change

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Amazon reveals nearly 20,000 employees have tested positive for COVID-19
Barton jail inmates holding hunger strike for access to books and soap


Technology

Kids’ Toys Get Inclusive
Shopify fires 2 employees for stealing customer data from up to 200 merchants
1 month after cyberattack, some CRA online services remain unavailable


Environment

Cracking Down on Single-Use Plastics
Why cleaning the forest could help fight fires — but it won’t be easy


Economy

Global food prices rise in August
Confusion and anxiety reign for Canadians dependent on CERB as pandemic program winds down
U.S. cosmetics chain Ulta scraps Canadian expansion plans


Political

Employers, striking dockworkers reach truce, Montreal port to reopen
Canada needs to ‘test smartly’ to survive second wave of coronavirus, Tam says
Canadian tariffs on U.S. products coming within days


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Shopify fires 2 employees for stealing customer data from up to 200 merchants
Barton jail inmates holding hunger strike for access to books and soap


Quadrant II: High impact / Likely to Occur

Amazon reveals nearly 20,000 employees have tested positive for COVID-19
Global food prices rise in August
Confusion and anxiety reign for Canadians dependent on CERB as pandemic program winds down
U.S. cosmetics chain Ulta scraps Canadian expansion plans
Employers, striking dockworkers reach truce, Montreal port to reopen

Quadrant III: Low impact / Unlikely to Occur

Why cleaning the forest could help fight fires — but it won’t be easy


Quadrant IV: Low impact / Likely to Occur

Cracking Down on Single-Use Plastics
Canadian tariffs on U.S. products coming within days
Kids’ Toys Get Inclusive

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Market for raw un pasturised honey
social media
demand for honey


Technology

social media


Environment

knowig how to work with the bees and winterising them as well as looking after them through out the year.


Economy

the saturation of honey sales


Political

laws pertaining to honey grading and regulation


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

social media sales


Quadrant II: High impact / Likely to Occur

quality harvest of honey

Quadrant III: Low impact / Unlikely to Occur

death of bees in the winter time


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– people advocating for veganism


Technology

– internet ceases to exist


Environment

– climate change affecting quantity/quality of ingredients


Economy

– recession may cause less sales


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– internet ceases to exist


Quadrant II: High impact / Likely to Occur

– people advocating for veganism
-recession

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Instant fix (refers to the desire for instant gratification and immediate improvement in relation to skincare concerns)
– Brand loyalty (when one good product launches, the customers are more likely to purchase other products)
 One bad review is all it takes for a customer to look away


Technology

– Fast shipping
– Bad for big brand names because any products can be shipped through Amazon
– Online shopping has become extremely popular
 Great for small businesses as small businesses generally begin on


Environment

– The beauty industry has been focusing on “clean beauty”
– Packaging is becoming increasingly eco-friendly
– Brands are starting to reduce plastic usage
– Eg. Makeup balms and cleansers over makeup wipes, shampoo bars over shampoo bottles
– “naked” products have been trending


Economy

– the skincare industry has been quite resistant to economic recessions
– nowadays, people see products from the skincare industry as a necessity (specifically shampoo, soap, face wash, moisturizers, etc)


Political

– strict guidelines
– product safety and transparency
– companies are required to report ingredient statements, recalls, and register manufacturers
– product transparency (listing ingredients)


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

– clean beauty
– sustainable/green beauty
– personalized skincare (ex: skincare quizzes to help customers select which products will best suit their needs/concerns)

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

– CBD Beauty
–> a lot of skincare brands are incorporating cannabidol into their products, it is a naturally-occurring compound found in cannabis plants (ex: marijuana and hemp)
– this trend is likely to occur as many natural skincare brands such as MILK Makeup, GlamGlow, Fresh, Origins are using hemp or cannabis as their prime ingredients for their products
– the reason this trend has a low impact on my business is because Elle’s Cosmetics and Beauty caters to people who want to keep their skincare routine simple, minimal, and are not looking to research all the benefits that their products provide
– instead, we inform our customers of the benefits of the ingredients used in our products
– although CBD beauty has been trending, people have been wary about the potential benefits/clinical results it provides as there is very vague and limited research around cannabis and hemp
– there is also some damaging side effects of cannabis/hemp infused products

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

COVID19 has positively impacted people’s awareness of flaws in the food system (food insecurity, environmental impact), and their motivation/capacity to grow food at home

The environmental movement has grown in the last 2 years ; there is a greater emphasis on what we can do to curb climate change

There are many governments, groups and individuals pushing for green jobs and industry to reduce our dependence on fossil fuels but still maintain a productive economy


Technology

There has been an increase in the number of everyday functions performed online (shopping, banking, renewing licenses, interacting)

Social media advertising is becoming a more effective way of reaching potential customers as more and more people are using social media


Environment

Climate change is worsening

Sudbury’s acid rain and heavy metal conditions in the soil, proximity to smoke stack, history of pollution on this land


Economy

many people do not have disposable income during COVID19

less grants available for start up not for profits

40% of farmers are migrant workers and migrant workers are not able to travel as easily therefore there is a possibility that food prices will increase as a result of labour shortages


Political

Our local city council do not prioritize local food initiatives, but there is an increased push by local food organizations upon them

Restrictions around wild food distribution (i.e. bylaw against wildcrafted foods, but farmstand O.k)

Announcement of community gardens as essential services


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

The price of food significantly decreases due to food being produced inexpensively or a huge influx of farm labour

city council changes restrictions around wildcrafted food

Sudbury environmental conditions create too many hazards for food growers to grow food


Quadrant II: High impact / Likely to Occur

Covid restrictions like masks continue to impact how people conduct their day to day activities. This means:

-More people prefer to avoid going into grocery stores, and will want to grow their own food.

Less disposable income will likely continue to be an issue especially among millenials

More people will be cautious about group or face-to-face interactions- more aspects of the marketing and service delivery should be available online

Quadrant III: Low impact / Unlikely to Occur

city council takes a strong interest in supportive community gardening/growing initiatives


Quadrant IV: Low impact / Likely to Occur

city council takes a strong stance against supportive community growing projects/initiatives

Sudbury will continue to be a zone of rehabilitation, slow re-greening. Folks will support its regreening efforts.

Some will be hesitant to grow food, though probably not too many

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Fast Fashion dies
Social movements for gender nonconformity
shift in sustainable mindsets for shopping


Technology

Competing tech companies hit the market
More reliance on Augmented Reality programs in retail
Total failure of related tech companies


Environment

global pandemic that slows supply chains
cotton or linen crop failure


Economy

Election cycle Economic turbulence

Stock market collapse


Political

New trade Tariffs imposed by importing or exporting nations
War


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

War
Stock market collapse
cotton or linen crop failure


Quadrant II: High impact / Likely to Occur

Competing tech companies hit the market
More reliance on Augmented Reality programs in retail
Election cycle Economic turbulence
global pandemic that slows supply chains

Quadrant III: Low impact / Unlikely to Occur

Total failure of related tech companies
Fast Fashion dies


Quadrant IV: Low impact / Likely to Occur

New trade Tariffs imposed by importing or exporting nations
Social movements for gender nonconformity
shift in sustainable mindsets for shopping

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

(Steep Analysis on Miro)


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

online restaurants, delivery businesses, late night food, students, population


Technology

development on delivery apps


Environment

pandemic, seasons


Economy

inflation, employment wages, trade deals


Political

food business regulations, health and safety regulations, trade deals, employment wages


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

delivery app modulations and regulatuons, employment wages


Quadrant II: High impact / Likely to Occur

global pandemic, inflation

Quadrant III: Low impact / Unlikely to Occur

trade deals


Quadrant IV: Low impact / Likely to Occur

seasonal sales

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

body positvity is growing, but not at the rate wanted
people are wanting to get into the movements
body shaming is still a concern


Technology

everything wants to be done online now
it can help us by being able to reach out to clients/vendors
we can get across to atendees


Environment

x


Economy

covid has affected all economies
by creating a space like ours, we can ensure we get great vendors that need help during this time of need
atendees can support local business


Political

x


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

weather shut us down


Quadrant II: High impact / Likely to Occur

covid can shut down that venue we pick
women will not feel safe to attend

Quadrant III: Low impact / Unlikely to Occur

covid shuts down the whole country
no place that we can rent out


Quadrant IV: Low impact / Likely to Occur

vendors drop out
atendees drop out

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Public focus on sustainability
Public focus on supporting small businesses
Conversations surrounding mental health
Value of unique expression
Clothing trends


Technology

New social medias arising
Changing algorithms
More efficient softwares
Economical impact


Environment

Support of thrifted and revamped clothing
Less support of fast fashion


Economy

Possible recession due to COVID could lead to decreased spending


Political

Reduced group gathering sizes may impact holiday sales due to less parties


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Another complete shutdown in which I cannot go to the thrift store

Public opinion shifting away from sustainability


Quadrant II: High impact / Likely to Occur

Reduced holiday parties lead to reduced holiday sales

Quadrant III: Low impact / Unlikely to Occur

Similar idea developing first in my town


Quadrant IV: Low impact / Likely to Occur

Reduced social media focus once people return back to work

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

LGBTQ acceptance, dismantling of gender roles. SAGA
Changes in the acceptability of personal expression (non-normative expression).
Growing consciousness in ethical labor
Plus size acceptance and attention


Technology

Global networking making awareness and knowledge accessible. Accountability.
Tech fabric
Sustainability solutions


Environment

Growing interest and importance in sustainable resources.


Economy

The need to afford garments that can and will last and whose designs are adaptable to longevity as well. Disposable fashion is only a short term affordability.


Political

LGBTQA rights.
Womens rights
Labor laws


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Gender expression freedom in the near future.
Significant sustainability solutions


Quadrant II: High impact / Likely to Occur

Developments in LGBTQ rights.
Border control regulation changes
New labor laws

Quadrant III: Low impact / Unlikely to Occur

international metal trade
low resources in less-used materials such as metal, wood, etc
social media platform failures (just move)


Quadrant IV: Low impact / Likely to Occur

Fashion trends shifting (fast fashion trends)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

COVID-19 impacting post secondary education classes and operations
Increased support for diversity and inclusion in the workforce
Increased support for mental health and wellbeing in the workplace


Technology

Increased demand for technology that supports remote work
Demand for technology that support data-driven decision making in the workforce
AI becoming increasingly popular in recruitment


Economy

Mass layoffs in the workforce due to COVID-19
Shift to remote work
Millennials are now the dominant demographic in the workforce, with Gen Z beginning to enter
The gig economy continues to expand
As the economy begins to recover from the pandemic, recruiters will likely be inundated with demand in 2021 to refill vacant roles
Job candidates demand more flexibility
Employer branding will become a top priority for businesses
Increased usage of talent pools for recruiters


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

COVID-19 impacting post secondary education classes and operations
Increased demand for technology that supports remote work
Mass layoffs in the workforce due to COVID-19
Shift to remote work
Millennials are now the dominant demographic in the workforce, with Gen Z beginning to enter
The gig economy continues to expand
As the economy begins to recover from the pandemic, recruiters will likely be inundated with demand in 2021 to refill vacant roles

Quadrant III: Low impact / Unlikely to Occur

AI becoming increasingly popular in recruitment
Job candidates demand more flexibility
Increased usage of talent pools for recruiters


Quadrant IV: Low impact / Likely to Occur

Increased support for diversity and inclusion in the workforce
Increased support for mental health and wellbeing in the workplace
Demand for technology that support data-driven decision making in the workforce

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Cs Shopping Habits: Online and offline shopping
-Consumer Attitudes: there taste and preferences.
-Age distribution: Demographic


Technology

-New machine and software.
-New products and new materials


Environment

-Environmental regulations.
-Customer values.
-Management style and staff attitudes.


Economy

-Exchange rates/money.
-Consumer purchasing power.


Political

-Gov’t funding.
-Codes of conduct.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Internal development.
Organization focused.
Care
Image


Quadrant II: High impact / Likely to Occur

Buying. Price.

Quadrant III: Low impact / Unlikely to Occur

Transactional.


Quadrant IV: Low impact / Likely to Occur

-Alliance
-Partnership
-Care
-Price

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Social media marketing is rising in popularity.
Influencer E-Commerce is proving to be fruitful.
More Canadians are on social media during the days due to COVID-19.


Technology

Big Data collection is leading to a better system for targeted ads.


Environment

Reducing a company’s carbon footprint.
Having fully recyclable products.
Using ethically and sustainably sourced ingredients.


Economy

Due to COVID-19, more people are shopping online.


Political

The Canadian Government continues to provide immense support for SMEs.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

N/A


Quadrant II: High impact / Likely to Occur

The Canadian Government continues to provide immense support for SMEs.
Due to COVID-19, more people are shopping online.

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Social media marketing is rising in popularity.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Income distribution: – other companies that aren’t partnered with WiseIntern and are not interested in seeking partnership such as job agencies, can reach out directly to students before the government can consider accepting our proposal of embedding this new program into the school board’s policies. Those companies can offer students increased wages which they may deem more beneficial than a guaranteed internship with WiseIntern

– Demographic influences: – students and parents from different cultural backgrounds may have some confusion about how the program operates and refuse to participate,
– they might also not be in favour of the transportation

– Lifestyle factors: – not enough demand for the app to concerns about COVID – will need to transition to Virtual Internships to ensure that students don’t completely miss out on the opportunity
– students may prefer to spend all four of their high school summers vacationing or hanging out with friends, participating in recreational activities, as opposed to spending at least one of their summers interning

-We attempt to use social media and other forms of advertising in order to reach a larger consumer base and targeted group while we work to bridge our program with the government


Technology

– International influences: – local students may instead wish to partake in international internships which WiseIntern will need to work on integrating into its business model within the next 5 years
– Changes in IT: – competition from other apps or other companies intending to follow the intern for high school students idea through implementation of an app. (threat of new/existing entrants)
– apps are continuously increasing in terms of popularity with over 500 Million downloads by both apple and android users per day. with that an comparing across other trends and analysis we hope to expect a favourable outcome in terms of downloads from high school students and partnership organizations.
Take-up rates: – unless this program becomes a requirement by the school boards, students may be new to the entire concept and the mode of transfer by way of matching them with direct employment via an app. There might be less people than expected enrolling in the program in the first couple of years until WiseIntern is able to create more awareness and engagement for students.


Environment

– Regulations and restrictions: – WiseIntern understands that it will need to write several RFP’s to work alongside the government, and the school boards to get our point for this app across. We are prepared to take on this journey and pitch our idea by starting out with people in the youngest work population in order to help improve our economies.

– Customer attitudes: – the idea of introducing internship opportunities for high school students that is entirely developed and facilitated via an app is definitely a newer concept for many and something we anticipate we will need to spend a lot of time creating awareness about. We understand that there will be a lot of questions but we plan on working with our stakeholders, sponsors and participants in order to share our passion which will not only contribute to the growth of our company, but our students and our economies as well.

– not enough demand due to concerns about COVID – will need to transition to Virtual Internships to ensure that students don’t completely miss out on the opportunity

We attempt to use social media and other forms of advertising in order to reach a larger consumer base and targeted group while we work to bridge our program with the government


Economy

– Economic growth: – employing 15-18 year old secondary students would improve the economy by increasing GDP compared to if those student remained unemployed. WiseIntern allows us to factor in employment activity for this new age group which is the strongest overall benefit of the program we are seeking to offer.
– Employment rates: – people may decide that its better to stay at home receiving stimulus checks than going out, trying to find some work and bringing home slightly less or breakeven pay-checks. Luckily, high school students would not be directly affected by this since WiseIntern gives them the opportunities to find work, and potentially even seek a paid internship if they qualify based on their parents income brackets.
– Inflation rates: – borrowing money and getting loans could become problematic if inflation decreases (economy slows down further) and the government decides to pull back on stimulus during this time, and one factor would be due to the inverse relationship between interest rates and the rate of inflation.
– Monetary policy: – the government offers additional stimulus to help out new innovative businesses but does not believe in WiseIntern’s business concept or its ability to generate ROI for Canada, USA
Potential Risk:
– not enough government funding to help with this project

– Consumer confidence:- by understanding the mission behind WiseIntern, people can regain confidence in themselves, their children and the economy, especially at a time where it is much needed.


Political

-global influences: – different leadership views under electoral parties in the US
-potential changes to legislation:-WiseIntern accepts that there could be challenges with sustaining and keeping its initiatives with the school boards in the short or long run.
-stability of government :- WiseIntern definitely requires support from the government in order to achieve its intended results with this internship program for high school students. Regardless, it will attempt to crowdsource and find external partners to work cohesively with from initiation to deployment.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

competition swoops in and steals our targeted consumer base


Quadrant II: High impact / Likely to Occur

Government might not be able to provide immediate sources of funding or partnership

Quadrant III: Low impact / Unlikely to Occur

government requires that we stick only to websites for implementation of this service rather than via app also.


Quadrant IV: Low impact / Likely to Occur

– uber refuses to partner with WiseIntern
-WiseIntern would seek partnerships with other transportation companies

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

More focus on Indigenous issues , healing, and teachings for each community. More com munities are focusing efforts on land based knowledge and are looking for ways to get families on the land. As Elders are passing on we need to take our part and listen and learn from them. We can pass on knowledge to children and youth in the future. More organizations are trying to do their part in reconciliation with indigenous people and looking at how they can implement TRC calls to action.


Technology

The real only technology are archiving stories and video equipment. There are some GPS’s and safety equipment that may need updates. Smart Devices for outdoor activities will constantly be observing to see new equipment and hardware.


Environment

Hoping to be sustainable and green when it comes to the business but climate change and raising waters can effect location for business. I will be trying to sell equipment and clothing from sustainable companies and recycle old equipment. Weather will affect trips but in emotional tole on participants.


Economy

I think to sell sustainable products is definitely higher of cost for communities but hopefully will be able to subsidize cost with programs. Also getting merchandise will be expensive depending where it is coming from because of being in a remote area. Hopefully creating jobs in the community will bring more economy to the community.


Political

This will be a little hard to answer because being on a reservation I will need to contact the economics department in the band office. I do think that there will be a big push for more indigenous business and business that can work with government to build relationships. My community government is always looking to do land based knowledge to help build health, healthy relationships to each other and the land, and to get people together in the community.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

climate change affecting the business.


Quadrant II: High impact / Likely to Occur

Communities reaching out to do programs and to sell bulk equipment for their programs.

Quadrant III: Low impact / Unlikely to Occur

New Technologies for GPS and deferent types of safety equipment.


Quadrant IV: Low impact / Likely to Occur

Canadian Government relations will have a low impact because they will not be deciding on how to keep the business running but will be more of a teaching method for government employees.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

As a person of colour, I recognize the role design is playing an important role in the fight for equality, rights and social justice. The black designers are moving in and reclaiming and rebuilding their identity tracing them back to their origins in the continent of Africa. Non-European design thinking is now being incorporated into practices in their respective countries.

Collaboration, Cultural Nuance + Localism—A Conversation on Reshaping the Design Monolith
(https://eyeondesign.aiga.org/collaboration-cultural-nuance-localism-a-conversation-on-reshaping-the-design-monolith/)

When Did Design Stop Being “Multidisciplinary?
(https://eyeondesign.aiga.org/when-did-design-stop-being-multidisciplinary/)


Technology

There are a lot of new tools and trends being developed.

What kind of technologies or level of competency does the client have or access to.


Environment

Materials and resources being used.


Economy

How much are we charging our clients.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increase in supporting locals (Businesses and Artists) (opportunity)
Increase in supporting small businesses (opportunity)
Increase in supporting brands that share their values (opportunity)
Increasing online buying habits (opportunity)


Technology

Due to COVID-19 online shopping rate has significantly increased (opportunity)
Increasing rate of cybercrime (threat)
Increasing efficiencies of IT resources (opportunity)


Environment

Rising interest in green shopping
Rising emphasis on business sustainability
Rising interest in environmental program


Economy

Economical instability for people due to COVID-19 and losing their jobs (Threat)
Governmental support to businesses and people who lost their jobs (Opportunity)


Political

Political Stability in Canada
Governmental support for e-commerce
Increasing government efforts on cyber security


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Society: Support local artists/ businesses
Job loss


Quadrant II: High impact / Likely to Occur

Environment: Green Shopping

Quadrant III: Low impact / Unlikely to Occur

Political: More grants/loans to support local businesses in situation we are in


Quadrant IV: Low impact / Likely to Occur

Tech: the need to be online 24/7

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Productiveness (home vs office)
Work-life balance/Localism
Digitally Savvy younger generations


Technology

Digital Assistant Software
Social and Mobile Computing Connect and Change the World
Working in the cloud
Blogging and Online Advertising


Economy

Niche Markets Flourish in the New Economy
It’s a She-conomy
Social Networks Fuel the Participatory Economy
You No Longer Need Cash to Start a Business
Small businesses and global giants form a barbell economy
Sustainability Becomes a Competitive Requirement
Global pandemic
Work Shifts from Full-time to Free Agent Employment
Small Businesses and Global Giants Form a Barbell Economy


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Global pandemic


Quadrant II: High impact / Likely to Occur

Productiveness
Digitally Savvy younger generations
Work-life Balance/Localism
Social and Mobile Computing Connect and Change the World
Working in the cloud
Blogging and Online Advertising
Niche Markets Flourish in the New Economy
It’s a She-conomy
Social Networks Fuel the Participatory Economy
Sustainability Becomes a Competitive Requirement
Work Shifts from Full-time to Free Agent Employment
Small Businesses and Global Giants Form a Barbell Economy

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Digital Assistant Software

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-More people choose to get together at coffee shops instead of pubs or bars
-More business people choose to work from coffee shops instead of at home or their office
-More community organizations/clubs will gather in coffee shops


Technology

-More people will want to order and prepay ahead
-More people will want a digital loyalty program


Environment

-More people will want to know where their food and drinks come from
-More people will want environmentally friendly packaging (less plastic)


Economy

-More people will be going to work so they will be wanting to buy their lunch on their way to work
-More people working multiple jobs, grabbing food and drinks between shifts


Political

None I can think of.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Strict long term travel restrictions reducing tourism
-Another new global pandemic


Quadrant II: High impact / Likely to Occur

-Economic recession
-Increase in local population

Quadrant III: Low impact / Unlikely to Occur

-Most people become vegan
-Trade problems restricting coffee sales


Quadrant IV: Low impact / Likely to Occur

-Low carb diets become popular
-Caffeine free lifestyle becomes popular

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

people not wearing natural makeup anymore


Technology

Websites may shut down
may come out with a more better way to shade match


Environment

not environmental free packaging


Economy

covid -19
close contact


Political

none


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

political trends


Quadrant II: High impact / Likely to Occur

covid -19
close contact

Quadrant III: Low impact / Unlikely to Occur

society not wearing natural makeup anymore
not having environmental free packaging


Quadrant IV: Low impact / Likely to Occur

Website shut down
shade matching technology

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Society test


Technology

Tech test


Environment

Environment test


Economy

Economy test


Political

Political test


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

high


Quadrant II: High impact / Likely to Occur

high

Quadrant III: Low impact / Unlikely to Occur

low


Quadrant IV: Low impact / Likely to Occur

low

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Millenials getting married and having kids later. More Baby Boomers getting pets as companions. Growing awareness in animals for therapy and assistance. Animal rights movements and force free ethics. Dog sports being banned. The doodle trend and pet owners supporting backyard breeders vs ethical breeders.


Technology

Ecollars. Clickers. GPS and Smart collars. Automatic and timed/sound sensitive treat dispensers. Pet Cams. Car environmental controls. Outdoor crating stations for pets.


Environment

Pressure on the meat industry with growing trend of feeding high meat content diets and raw foods. Pet overpopulation and potential future restrictions.


Economy

Unsure. Sources say it is unexpected for the industry to be negatively impacted. Many people have acquired puppies during COVID-19 but there are lockdown restrictions.


Political

Animal rights movements. Tools and methods banned in certain provinces and countries. Growing government restrictions on dog sports, breeding guidelines, and general care.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Canada bans timed dog sports.
Environmental degradation leads to increase in need for conservation and detection dogs (could be low impact, dependent on my specialty).


Quadrant II: High impact / Likely to Occur

More Gen Z and Millenials acquire pets and seek a higher quality of care/training.
More individuals seeking privately trained service dogs.
More families need dog trainers when their Covid puppies are highly undersocialized andreactive.
More people seek positive reinforcement based training.

Quadrant III: Low impact / Unlikely to Occur

Animal rights activists start more dangerous movements (could be high impact)


Quadrant IV: Low impact / Likely to Occur

More electronic training tools enter the market (may be high impact)
More young people become animal trainers (could be high impact)
Trends for certain kinds of gear ( ex. in early 2000’s harnesses were the trend, in the late 1900’s more choke and prong collars were trending)
More people seek out high quality diets for their dogs.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

society


Technology

tech


Environment

environ


Economy

economy


Political

political


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

1


Quadrant II: High impact / Likely to Occur

2

Quadrant III: Low impact / Unlikely to Occur

3


Quadrant IV: Low impact / Likely to Occur

4

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Ecological awareness increasing, Candles have always been popular, more people prefer online shopping


Technology

New technological advancements in wax melting/candle making, and semi-precious stone mines and tumbling, as well as ecommerce popularity increasing and developing


Environment

Declining bee population, increasing apiary population


Economy

Pandemic trend change, global trading trends, global/natural disaster,


Political

See global trading trends in Economy.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Bee population numbers causing depleted resources


Quadrant II: High impact / Likely to Occur

Apiary business booming, more resources available for cheaper,
E-commerce popularity rising

Quadrant III: Low impact / Unlikely to Occur

New technological advancements,
New semi-precious stone discovery


Quadrant IV: Low impact / Likely to Occur

New covid strain causing another lockdown,
global/natural disasters causing need for slow burning candles to light/heat homes

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

increased globalization
increased awareness of environmental and ethical impacts of fashion
higher brand transparency demanded


Technology

development of new materials/machinery
eg. faux leather, vegan leather, pineapple based leather
new machinery to product apparel at a higher level
new markets and medium to make sales (websites, social media, private apps)


Environment

sustainability of leather (methane emissions) vs. faux leathers (oil byproducts and lower time of use)


Economy

global pandemic.
operating on a wants not a needs basis
reduced disposable income for a luxury product by the average person


Political

Taxes, customs and trade
Currency exchange rates affecting supplies and potential clients
Political climate, increased polarization and businesses taking a stand on key political and human rights issues (ie. BLM)


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Leather being unattainable due to environmental, social or political reasons along with other operating materials


Quadrant II: High impact / Likely to Occur

Pandemic, lower disposable income-reduced sales

Quadrant III: Low impact / Unlikely to Occur

Drastic currency exchange rates at this time
Drastic changes to material cost
Taxes, customs and trade


Quadrant IV: Low impact / Likely to Occur

Vegan leather products growing in demand

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increased interest in online shopping


Technology

Increase in ease of mass produced jewellery flooding the market with low cost options.
AI take larger roll in retail market.
Advancements in synthetic gemstones


Environment

Increased interest in human rights and environmental issues (blood diamonds, mineral mining practices etc)


Economy

Pandemic causing economic recession
Low Canadian dollar effecting material purchases


Political

Unrest in the US causing gold and silver prices to soar


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Rebellion in US causes borders and trade to be cut off.


Quadrant II: High impact / Likely to Occur

-Unrest in US causes precious metal prices to soar
-Pandemic causes economic recession
-Increased interest in online shopping

Quadrant III: Low impact / Unlikely to Occur

-People move to a more vegetarian diet


Quadrant IV: Low impact / Likely to Occur

-Increased interest in human rights and environmental issues
-Technological advances cause flood of low cost, mass produced jewellery into the market
-AI takes larger roll in retail (drone shipping / self checkouts)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Increased demand for coaching services
-Enhanced focus on positive psychology
-Demand for measurable results
-Mental Health awareness
-Niche coaching will increase


Technology

(As technology changes, the way coaching is delivered changes to reflect it)

-Video streaming to socialize/meet
-Digitization of socializing and coaching
-“IoT” (Internet of Things, people having more devices, easier access to the internet)
-Cloud and edge computing


Environment

-Social distancing (due to the pandemic)


Economy

-Coaching will become a commodity and fees will decrease by 57% (predicted to happen by 2022)
-Overall rise in coaching demand


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Overall rise in coaching demand


Quadrant II: High impact / Likely to Occur

-Increased demand for coaching services
-Demand for measurable results
-Mental health awareness
-Digitizing socializing/coaching

Quadrant III: Low impact / Unlikely to Occur

-Cloud and edge computing


Quadrant IV: Low impact / Likely to Occur

-Enhanced focus on positive psychology
-IoT (Internet of things)
-Niche coaching will increase and become more sought after
-Social distancing

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Focus on nutrition
Healthy hotel ands and technology
Trend of supporting small and local businesses
Clean label movement
Healthy snacking trend
Value natural products
Virtual fitness
Covid pandemic
Personalized health
Rising cases of mental illness
Impending global mental health crisis
Too few mental health services to meet need
Increase in wellness tourism
Wellness mindset


Technology

Emergence of e-commerce to level the playing field between small/local companies and traditional retailers
Availability of information and choice
Preference for in-person vs. digital products and solutions post-pandemic
Wearable devices and personal assistants


Environment

Clean label movement
Value natural products
Covid pandemic


Economy

Emergence of e-commerce to level the playing field between small/local companies and traditional retailers
Trend of supporting small and local businesses
Corporate productivity
Covid pandemic and restrictions


Political

Government regulations of natural health products
Covid pandemic restrictions


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Converging of all wellness sectors

Impending global mental health crisis (worse than current circumstances)

Increase in wellness tourism (immediately unlikely due to travel bans and restrictions)

Stock market crash

Change in values away from self-care, health and wellness

Preference for in-person vs. digital products and solutions post-pandemic


Quadrant II: High impact / Likely to Occur

Government regulations of natural health products

Availability of information and choice

Trend of supporting small and local businesses

Emergence of e-commerce to level the playing field between small/local companies and traditional retailers

Virtual fitness

Covid pandemic

Personalized health

Rising cases of mental illness

Too few mental health services to meet need

Economic downfall

Cannabis based products

Wellness mindset

Quadrant III: Low impact / Unlikely to Occur

Not a lot apparently… oops! Haha


Quadrant IV: Low impact / Likely to Occur

Focus on nutrition

Healthy hotel ands and technology

Healthy snacking trend

Value natural products

Shopping pattern changes

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Lifestyle changes
Age demographics
Job losses – less money to spend on “extras”
Competition expands.


Technology

Newer sites become available
Software changes
communication


Environment

seasonal/weather
natural resources


Economy

Job losses – less money to spend on “extras”
Growth rate


Political

Shipping/Tax policies
international legislation
Services


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Change in Website popularity.
Software changes


Quadrant II: High impact / Likely to Occur

Competition expands.
Shipping/tax policies change.
Job losses
Growth rate

Quadrant III: Low impact / Unlikely to Occur

Software changes
communication


Quadrant IV: Low impact / Likely to Occur

Lifestyle changes
seasonal/weather
natural resources

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Among younger folks under or around 30, such as myself, there is a greater desire to support independent artists/ artisans and shop locally. Due to social distancing and isolation, much of life has moved online, including shopping.


Technology

Direct to garment printing technology has reached a high quality level in the past couple years. Many sites that offer DTG printing and mail direct to customer have popped up. Although they make the experience easy for the designer, the profit margin is very heavily skewed in the direction of the printer, and designers/artists only end up with about 10-20% of the items total cost.
New apps such as Canva are making design more accessible for non-designers, decreasing demand for some design work.


Environment

A trend in apparel has been away from ‘fast fashion’ retailers (see the failure of Forever 21 in Canada) and towards items of higher quality that last longer and therefore create less textile waste.
Increased awareness has caused textile waste companies to appear (such as FABcycle Vancouver) that sell fashion industry textile waste at reduced prices.


Economy

The pandemic has had negative impacts on the economy of the entire world. People may be less likely to spend money on silly t shirts.


Political

Under a conservative government, lots of funding for community orgs and nonprofits has been taken away. This means that folks must find their own way of sustainably raising funds to maintain their operations.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Increase in online life leading to an increase in online shopping. Continued reduction in government funds available to community orgs. Low amount of expendable income among consumers due to pandemic-caused economic downturn.

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Folks using Canva and T spring do the work themselves. Thats ok we are here to get the people who don’t know how or don’t have time.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

holistic health becoming more accessible in the mainstream market. Holistic health often crosses market with wiccan and pagan religious members. As Wicca and Paganism trend on platforms such as Tik Tok and Instagram, the demand for herbal based products rises.


Technology

introduction of new selling platforms. due to covid-19 pandemic more and more bushiness are moving to the online market place, increasing competition.


Environment

changes in the cost of natural resources, such as soy, beeswax, honey, and herbs. Seasonal changes impact the cost of herbs (winter less herbs available, summer more available).


Economy

Economic turn down such as a global pandemic that we are currently facing have a huge impact on demand for non-essential products. As the unemployment rate continues to rise, more people will be forced to spend less money on extra items. Adapting and trying to match the essential market will help curve this impact, such as making hand sanitizer or products geared towards immunity.


Political

political tensions between countries impact trade, make imported products less accessible. Luckily focusing on local products assists in managing trade expectations.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-technological advances in new selling platforms, creating greater competition in the online market


Quadrant II: High impact / Likely to Occur

-social trends towards and against holistic health
-trends toward plant-based products is often heavily impacted by larger influencers, especially among my target age range of ‘young adult’
– unemployment rises due to the pandemic, creating less demand

Quadrant III: Low impact / Unlikely to Occur

-political tensions creating difficulties in sourcing imported products


Quadrant IV: Low impact / Likely to Occur

-seasonal (environmental) changes create difficulties in sourcing. low impact because of adaptability in seasonal sourcing and local products

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

View of metal music and screaming


Technology

internet access and advertising as well as tech trends


Environment

quarantine makes people pick up new hobbies


Economy

economic downfall means no one has purchasing power


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

metal music popularity boom
drama in the industry


Quadrant II: High impact / Likely to Occur

Viral video
quarantine

Quadrant III: Low impact / Unlikely to Occur

increased marketing regulations


Quadrant IV: Low impact / Likely to Occur

unchanging ideals regarding screaming

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Giving back to community.
Supporting Black owned businesses
Wanting to explore culturally diverse foods


Technology

Packaging
Social media


Environment

FArm growing seasons
Urban farming


Economy

Pandemic aftermath


Political

Allowing food businesses to operate out of homes


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Allowing food businesses to operate out of homes. Social media. Pandemic aftermath


Quadrant II: High impact / Likely to Occur

Continued support for Black owned businesses. Urban farming. Packaging personalization

Quadrant III: Low impact / Unlikely to Occur

Wanting to explore culturally diverse foods


Quadrant IV: Low impact / Likely to Occur

Farm growing season changes

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– The world’s population is growing sicker, lonelier, and older.
– Deteriorating health, the spread of loneliness and mental illness, and the ramifications of ageing
all negatively impact people’s happiness and wellbeing.
– The response, consumers around the world are proactively turning to wellness modalities as
alternatives to address these challenges.
-Consumer values are changing, moving toward a lifestyle of wellness that is fundamentally shifting consumer behaviours and consumption patterns. This shift is bolstered by the rise of the middle class, the accessibility of new options, and a burgeoning concern about the impacts of ubiquitous technology.


Technology

– Due to the pandemic/lockdown restrictions and fear of covid, people have found different ways to maintain connection and their wellness through virtual lives/classes or video chats.
– More machines are taking up jobs, therefore people most likely are out of jobs or could be working from home, or under more bodily stress


Environment

The environmental crisis is also a health crisis. Environmental degradation, directly and indirectly, affects us, through the air we breathe, how we procure and consume food, and how we live and travel. As people become aware of these risks,they are seeking out alternative lifestyles that are simultaneously healthier for themselves and more
sustainable for the planet.


Economy

– With the whole covid situation, and all these restrictions and precautions, the economy is going in the direction of no paper bills, cashless
– Chips holding all your information,


Political

Health systems are failing to keep up, while the economic
burden rises. Health systems are failing in countries all around the world, and the economic burden is unsustainable. Therefore, it is not surprising that consumers, employers, and even governments are turning to wellness approaches to complement and address deficiencies in healthcare and to turn from “sick


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Unsustainable economic costs


Quadrant II: High impact / Likely to Occur

– Technology & connectivity
-Awareness & self-responsibility
– Car dependence & unwell lifestyles
– Failing healthcare systems
– Lifestyle & environmental disease
– Loneliness & mental health
-Population aging

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

– Agriculture & food
– Pollution
– Urbanization & middle class growth

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

People are eating more plant based diets.


Technology

Technological advancements are improving indoor growing environments and bringing down the costs of material to set this up.


Environment

Instability in global weather patterns creates food insecurity making stable, vertical farms more desirable.


Economy

Canadians already spend a lot of money on food and are receptive to the shop local movement.


Political

The government is spending money to support new agricultural businesses and ideas that create jobs for skilled workers.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Organic certification is redeveloped to become more accessible to start up farms.


Quadrant II: High impact / Likely to Occur

There is an increase in people eating plant based diets.
The shop local movement will continue to thrive.

Quadrant III: Low impact / Unlikely to Occur

People switch all their shopping to online services like Amazon that get all their supplies from big farms.


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Higher demand for sustainable products
Consumers become more educated on sustainable practices
Rise in popularity of second-hand shopping
Rise in popularity of capsule wardrobes
Rise is charitable aspects of companies
Increased recycling, composting, and upcyling
Rise of online shopping
Increased digital reliance
Greenwashing and fast fashion companies marketing themselves as sustainable


Technology

Growing digitalization of the economy
Increased investments in Information and Communication Technology and the digitalization of the supply chain


Environment

Climate Change
Depletion of natural resources


Economy

Increasing consumer demand
Greater support for the circular economy
Upcoming stock market crash
Effects of COVID-19
Increased attention on sustainability from venture capitalists and investors


Political

Government and/UN enforce new sustainability laws and regulations
Increased Government support for sustainable companies
Increased demand for transparency in business practices


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Increased demand for transparency in business practices
Increased Government support for sustainable companies


Quadrant II: High impact / Likely to Occur

Higher demand for sustainable products
Consumers become more educated on sustainable practices
Rise in popularity of second-hand shopping
Rise of online shopping
Increasing consumer demand
Effects of COVID-19
Increased attention on sustainability from venture capitalists and investors
Climate Change
Growing digitalization of the economy

Quadrant III: Low impact / Unlikely to Occur

Rise is charitable aspects of companies


Quadrant IV: Low impact / Likely to Occur

Rise in popularity of capsule wardrobes
Increased recycling, composting, and upcyling
Increased digital reliance
Greenwashing and fast fashion companies marketing themselves as sustainable
Government and/UN enforce new sustainability laws and regulations
Greater support for the circular economy
Upcoming stock market crash
Depletion of natural resources
Increased investments in Information and Communication Technology and the digitalization of the supply chain

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Local businesses needing storage
population density


Technology

Current technology Security gates, cameras, keypads


Environment

Self-sustainability vs. non-sustainable aspects (fossil fuels, solar)


Economy

State of general economy (downfall vs Uprise)
Zoning rules


Political

Regulation
Laws
Zoning rules


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Economy situation


Quadrant II: High impact / Likely to Occur

Zoning rules
Population Density
Regulation/Laws

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Updating technology

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Going vegan or vegetarian
Increase in healthier foods
Organic food consumption
Obesity


Technology

Delivery services like UberEats
Restaurant digitization


Environment

Food shortages
Climate change
GMOs


Economy

Value vs. price
Expanding industry of casual quick food


Political

Increased food reulations
Increased resturant standards
Lockdowns


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Restaurant digitalization
Organic food increase
Increase in healthier foods


Quadrant II: High impact / Likely to Occur

Plant based options
Increase in casual restaurants
Increase in food and safety regulations
Food shortages
Value vs. price

Quadrant III: Low impact / Unlikely to Occur

GMOs


Quadrant IV: Low impact / Likely to Occur

Delivery services like Uber Eats
Lockdowns

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Pandemic, increase awareness and interest in sustainability and environment
Organic and plant based diet interests


Technology

newer, cleaner more efficient agriculture technology


Environment

Green tech interest and funding
push towards lower emissions


Economy

Decrease spending due to pandemic


Political

Policies supporting green initiatives and products


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Home gardens become a major source of fresh produce
Decrease food waste policies


Quadrant II: High impact / Likely to Occur

Lack of trust in food market and industry
Public interest in sustainability and green initiatives
Consumers getting pickier on what they eat: convenience, quality, consistency, ethical

Quadrant III: Low impact / Unlikely to Occur

Carbon labelling


Quadrant IV: Low impact / Likely to Occur

Nutrition label standards
Increased transparency in food supply chain
Increased consumption of plant-based processed foods
Cannabis product cultivation

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

COVID regulations, Higher demand for content, need to forefront marginalized voices


Technology

more company’s offering free or low-cost tools and services to support the arts and development. Less income means less money to create more professional looking content


Environment

more outdoor shooting requires reliance on weather, but new software (Unreal Engine) provides new ways to create virtual productions


Economy

recession means investment, less money to pay for higher quality artists, more funding for small business and arts communities, but way more competition.


Political

Need to tell the stories of marginalized voices, critical interpretation of politically charged media and climate


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Long term poor weather restricts the ability to shoot outdoors


Quadrant II: High impact / Likely to Occur

COVID film sector-wide shutdowns, city lockdowns

Quadrant III: Low impact / Unlikely to Occur

shut down of large budget productions


Quadrant IV: Low impact / Likely to Occur

less money to work with (necessity and limitation drive invention)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Cortes island population change – more young people willing to spend time in food businesses in the winter season – and also more housing may mean more talented skilled workers that I can hire, which in return will impact their ability to stay longterm, if they can keep their job in winter as well


Environment

Regulations on protected areas and businesses in there (waste disposal, recycling, single-serve packaging)
Education of customers on environmental issues and their desire to support business that ‘does it right’

Many bakeries use plastic for packaging products. This usage increased with production shifting to consumer packaging from food service. Expect calls for more eco-friendly and less plastic usage to persist post-pandemic as governments implement new green policies. Middle to high-income households are willing to pay more for green packaging, but higher costs make it difficult to see widespread adoption at this stage.


Economy

Higher comfort level of the local population – better living and working situation means more willingness to spend money in my business, either for cakes or takeout
Impact of covid and post-covid behaviour in spending money on treats and vacations + higher consumption of sweets and comfort food in challenging times to combat stress and lockdowns
Better economical situation means bigger tourism, more people coming from the mainland BC to spend money with us
Possible economical struggle for me should there be another lockdown etc

Bakeries and tortilla manufacturing companies are an essential component of Canada’s food manufacturing industry. Employing over 49,000 Canadians and generating $5 billion in GDP annually, bakeries represent the second largest food manufacturing sector, only behind meat product manufacturing. Furthermore, bakeries are the fastest growing food sector, with an average annual GDP growth rate of 5.4% since 2015.
Most bakeries can be considered small businesses, and the average net margin was 4.2% in 2018. So small shifts in costs or demand can significantly impact financial health. COVID-19 has created significant opportunities and challenges for Canadian bakeries. Future growth in sales depends on Canadian foodservice rebound, export growth, and labour availability.


Political

Border closure due covid (US tourism impacted)


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Higher comfort level of the local population – better living and working situation means more willingness to spend money in my business, either for cakes or takeout
– Cortes island population change – more young people willing to spend time in food businesses in the winter season – and also more housing may mean more talented skilled workers that I can hire, which in return will impact their ability to stay longterm, if they can keep their job in winter as well
– End of popularity of sugar and flour due to health-conscious education


Quadrant II: High impact / Likely to Occur

– Border closure due covid 2021 (US tourism impacted)
– Impact of covid and post-covid behaviour in spending money on treats and vacations + higher consumption of sweets and comfort food in challenging times to combat stress and lockdowns
– call for eco-packaging continuing post-pandemic
– higher interest in organic baking and local flour from a small mill

Quadrant III: Low impact / Unlikely to Occur

People keeping to bake their own things post-pandemic following the pandemic trend of bake-at-home sourdough and sweets.


Quadrant IV: Low impact / Likely to Occur

– Regulations on protected areas and businesses in there (waste disposal, recycling, single-serve packaging)
– Education of customers on environmental issues and their desire to support business that ‘does it right’

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Skiing is a new and popular sport in Asia and there is a growing demand for it.
– As more people are introduced, it becomes a social hub.
– Trend towards “active/healthy” lifestyle.
– Trend towards cultural experiences, with Japan being at the centre of Asian travel.
– More women traveling alone.


Technology

– Shinkansen coming to Niseko – make it more accesible to those in Tokyo.
– More information found online, people are more prone to plan their own trips and activities.
– Social media popularizing making it easier to have exposure to direct clients.
– Social media trends we can jump on will increase popularity and exposure.
– Easy payment methods allow us to deal multi-currency and work internationally.


Environment

– Global warming reducing the length and quality of winters – reducing our work period.
– Environmental consciousness will draw people to “nature travel”


Economy

– China increasing it’s spending ability means more customers.
– New generation of wealth in Asia (new entrepreneurs and inherited) who want to and are able to pay for explore the world.
– Lots of high end development and infrastructure in Niseko will draw more high end clientele.


Political

– Travel restrictions from COVID 19 will make it more complicated for tourist to travel.
– VISA requirements to work in Japan.
– Vaccine passports becoming mandatory.
– China


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

beauty has proven to be a strong investment category thanks to high margins, recurring purchase patterns, and general resistance to events such as recessions. The category is also appealing to a broadening audience, including males, and age groups beyond millennials and Gen-Z.


Technology

*Influencer marketing, Influencers on social media promote beauty products and industries on their social platform.

*User Generated content. People who work for the industry creates a social platform to advertise to potential customer’s


Environment

*The beauty industry is known for heavy usage of plastic for packaging.


Economy

*Employment in the beauty industry grows rapidly every year.
*There is always high demand for product which helps the industry gain higher profit.


Political

*The FDA act ensures safety for cosmetics.
*Canada has higher restrictions than the U.S out of 1328 cosmetics, Canada banned over 500 products.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Social advertisement

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Society: Lockdown affects what styles and items people buy, what patterns people are drawn to, and has created a huge shift towards online shopping (so there will be more customers and more competitors). Also a shift towards diversity & inclusion.


Technology

Technology: Innovation in fashion: new organic and recycled textile technology, virtual style analysis, virtual try-on, online shopping can allow for new models (such as hybrid models where there are stores as showrooms, but no inventory), new ways to print and dye fabric, new manufacturing methods (such as laser cutting)


Environment

Environment: more consumers are demanding sustainable fashion, ie. biodegradability, recycled textiles/plastics, non-toxic dyes, consideration of full fashion life cycle, consumer shift towards upcycling, mending, DIY, buying less


Economy

Economy: COVID-19 has increased unemployment rates, leading to less spending power of Canadians, stock markets have also declined


Political

Government regulation of imports
Government regulation of advertising
Taxes (could impact spending power of Canadians if taxes are increased)


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Ban on Facebook ads


Quadrant II: High impact / Likely to Occur

Tax increases
Increased unemployment
Consumers purchasing less
More fashion stores online
More WFH employees

Quadrant III: Low impact / Unlikely to Occur

RFID & DNA tagging on product sources


Quadrant IV: Low impact / Likely to Occur

New textile recycling programs
New fabric and dye technologies

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

People values and lifestyles have become much more focused on being green; a focus on sustainability to help combat climate change and with covid, brought an even bigger wave of a fierce loyalty to buying local. This will have a great beneficial impact on my business.


Technology

Not really applicable for my business.


Environment

Global warming and climate change is real and on our door step, which is huge ‘trend.’ My business will focus on making the smallest carbon footprint we can and focus highly on sustainability and cutting food waste.


Economy

With covid buying online has gone up but also has buying local and supporting your own community and economy. This will benefit.


Political

unsure


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

people buying only on amazon


Quadrant II: High impact / Likely to Occur

community and government support of buying local and being sustainable

Quadrant III: Low impact / Unlikely to Occur

new technology trends


Quadrant IV: Low impact / Likely to Occur

trade barriers

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-more people working from home
-more people working online
-more creatives using social media as a platform
-a boost in the use of social media


Technology

(changes in how to use and access the internet/technology
-internet crashes
-people are no longer using technology for work purposes
-effective programming for e-design


Environment

*pandemics
-If I choose to do in-person, things like covid could impact it.
-impact money which would hurt me, but also more people working from home


Economy

*market crash
-People can’t afford to pay for my services
-I can’t afford to pay for my business
-Suppliers may become scarce
-Fees could go up for both myself and supplies making it less accessible


Political

*the views on my ideal customer believes in and promotes
-Could impact the work that my clients do.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Technology


Quadrant II: High impact / Likely to Occur

societal
environmental

Quadrant III: Low impact / Unlikely to Occur

Political trends
Economy


Quadrant IV: Low impact / Likely to Occur

environment

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Customer demands segregated based on location, ethnic culture and diversifying needs.


Technology

Ecommerce business, online retail stores.


Environment

With the ongoing post pandemic scenario,


Economy

Low inflation and low interest rates for consumers. This can help in keeping prices steady and attracted fixed income consumers.


Political

Geopolitical trends impacts on the import trade.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Societal


Quadrant II: High impact / Likely to Occur

Economical

Quadrant III: Low impact / Unlikely to Occur

Political


Quadrant IV: Low impact / Likely to Occur

technology

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Aging population
– Society becoming more conscious about their consumption
– Rise of health issues
– Rise of food allergies
– Rise in demand for ethical products


Technology

– Developments in bio-plastics
– Developments in food manufacturing, processing and packaging
– Breakthroughs in related engineering


Environment

– Global warming
– Crop loss
– Natural disasters


Economy

– Economic downturn drive more people to cook at home, increased sales projected to make up for increased cost


Political

– Tariffs on trade
– Labelling laws
– Regulation


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Environmental catastrophe
– Food shortage
– War


Quadrant II: High impact / Likely to Occur

– Economic downturn
– Rise in food allergies
– Rise in non-communicable disease

Quadrant III: Low impact / Unlikely to Occur

– Environmental disaster (smaller scale)


Quadrant IV: Low impact / Likely to Occur

– Viral food trends
– Sourcing issues (there are many readily available sources for my ingredients)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Art culture


Technology

Digital art


Environment

Pandemics


Economy

Job loss


Political

Not sure


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

People stop buying art


Quadrant II: High impact / Likely to Occur

Not sure

Quadrant III: Low impact / Unlikely to Occur

Not sure


Quadrant IV: Low impact / Likely to Occur

Not sure

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

influx of pet ownership


Technology

new fabric technology can affect the choices


Environment

covid 19 has boosted our mask sales


Economy

slow fabric export because of suez canal blockage


Political

increased trading taxes


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

no more dogs


Quadrant II: High impact / Likely to Occur

the end of covid 19

Quadrant III: Low impact / Unlikely to Occur

increased shipping fees because of covid


Quadrant IV: Low impact / Likely to Occur

less people adopting dogs post covid

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Stigma around mental illness

ADHD remaining under-diagnosed in a lot of students.

Increase in ADHD diagnosis in post-secondary students

Lack of sufficient mental health funding and/or awareness

Mental illness as a “taboo topic” in other cultures


Technology

The rise of time management apps

Increased reliance on Artificial Intelligence (AI)

Growing free online tools and calendars that already exist


Environment

Increase in the switch to more digital and less paper.

Difficulty in finding eco-friendly packaging and planner covers.

Increase hesitation of using plastic packaging in planner components.


Economy

Minimum order quantities (in hundreds) when it comes to physical planners.

Shipping costs for ordering through online suppliers.

Something called a “withholding tax” for international buyers.


Political

Liabilities and costs related to shipping when sourcing products from other countries.

Applying for “import license” for sourcing goods from other countries.

Cost of Canadian Import Duties.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Something called a “withholding tax” for international buyers.

Liabilities and costs related to shipping when sourcing products from other countries.

Expensive “import license” for sourcing goods from other countries.


Quadrant II: High impact / Likely to Occur

Stigma around mental illness

Increase in ADHD diagnosis in post-secondary students

The rise of time management apps

Increased reliance on Artificial Intelligence (AI)

Increase in the switch to more digital and less paper.

Quadrant III: Low impact / Unlikely to Occur

Extremely high minimum order quantities (MOQs) when it comes to physical planners.

Difficulty in finding eco-friendly
packaging and planner covers.

Cost of Canadian Import Duties.


Quadrant IV: Low impact / Likely to Occur

Lack of mental health funding in schools

Mental illness as a “taboo topic” in other cultures

Lack of sufficient mental health awareness

Shipping costs for ordering through online suppliers.

Growing free online tools and calendars that already exist

Increase hesitation of using plastic packaging in planner components.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

In the area i live its always a competition for the best landscaped house. That includes sealing.


Technology

Improvement in sales for self application may make home owners more opted to do their own driveway


Environment

Snow, rain and wind can affect sealing


Economy

During economical crash a driveway may be overlooked as a necessity


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Interest in education and cultural awareness for a more inclusive society.


Technology

Access to education is easier and quicker than ever, the possibility of educating those online through social platforms, creating ebooks and online resources; having them at clients fingertips pre or post workshop.


Environment

Not actively.


Economy

Finances; grants and loans are available for businesses now more than ever–especially due to COVID-19 the government is determined to support businesses.


Political

Interest and responsibility to support and create safer spaces for all Canadians.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Society reverts back 40 years and equity is no longer a priority and equal rights.

Technology no longer exists.


Quadrant II: High impact / Likely to Occur

Society continues to get more aware and invested in DEIB and cultural competency.

Quadrant III: Low impact / Unlikely to Occur

Loss of grants and loans are available for businesses now more than ever–especially due to COVID-19 the government is determined to support businesses.


Quadrant IV: Low impact / Likely to Occur

Environment shifts and changes.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

I think society will continue to celebrate births of new babies


Technology

NA


Environment

Pandemic so no gatherings


Economy

Cant afford to throw parties so less customers


Political

NA


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Not celebrating newborns


Quadrant II: High impact / Likely to Occur

No gathering allowed (covid-19) si no parties

Quadrant III: Low impact / Unlikely to Occur

NA


Quadrant IV: Low impact / Likely to Occur

NA

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Social media trends, music trends, using video production as an impactful marketing tool for other industries


Technology

Phone cameras improving, actual camera tech improving, footage technology (drones) becoming widely accessible however flight zones becoming increasingly restricted


Environment

seasons changing can impact type of shooting that can be done, can change the entire industry season. warmer weather can create longer film seasons


Economy

funding availability. grant availability, can my target market afford to hire a production company


Political

platform restrictions, type of information being spread. should I remain unbiased for the sake of production or only align my work with clients that have similar values?


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

industry season changing
platform restrictions


Quadrant II: High impact / Likely to Occur

funding availability
client affordability
increase in video production as a marketing tool

Quadrant III: Low impact / Unlikely to Occur

use of services for destructive values


Quadrant IV: Low impact / Likely to Occur

phone cameras improving

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Increase in people aging and birth rate resulting in demand for family services.
– The cultural view of children is shifting from children being seen and not heard – to children being active participants in their lives.


Technology

-Since the Pandemic, more services and businesses are operating strictly online. We are operating exclusively online
– More courses are being delivered online increasing the number of people who can attend the training or course. You don’t have to be in the same demographic as your customer.
-More meetings are happening online as well as consultations.


Environment

– Increase in rent costs is rising. we do not have a physical location so this does not impact us.
– Pandemic has caused children and youth to do at-home learning while schools are closed, parents needing to take on the teaching role and needing support to do so.
-Limited in-person social interactions
-Limited socialization affects children’s development requiring them to gain support


Economy

-This industry is growing rapidly and expecting increase more over the years to come.
-Parents and caregivers want to invest in their children and youth as they are one of the most vulnerable populations.
-Canadian dollar is at an all-time low
-inflation is at an all-time low.


Political

– NS Government announced province-wide coverage of mental health support
– Child and Youth Development Specialist is a government-funded service in Manitoba, Alberta and BC.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– NS Government announced province-wide coverage of mental health support.
– Child and Youth Development Specialist is a government-funded service in Manitoba, Alberta and BC.


Quadrant II: High impact / Likely to Occur

-Increase in people aging and birth rate resulting in demand for family services.
– The cultural view of children is shifting from children being seen and not heard – to children being active participants in their lives.
– Pandemic has caused children and youth to do at-home learning while schools are closed, parents needing to take on the teaching role and needing support to do so.
– The cultural view of children is shifting from children being seen and not heard – to children being active participants in their lives.

Quadrant III: Low impact / Unlikely to Occur

-Since the Pandemic, more services and businesses are operating strictly online.


Quadrant IV: Low impact / Likely to Occur

– Increase in rent costs is rising.
-Canadian dollar is at an all-time low
-inflation is at an all-time low.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The primary social trend that will impact my business is the continuation of online forms of communication. This means that I will have to utilize platforms such as facebook, whatsapp, linkedin, etc for communication and outreach to customers.


Technology

The main technological trend that will impact my business is increase in cybersecurity for the added fraud and breach of data that is happening. The added fraud will be beneficial to gaining more clients for my credit repair service.


Environment

There are currently no environmental trends that may impact my business.


Economy

There are no political trends that may impact my business. As preciously alluded to, finance and insurance is a sector that remains unchanged during good to bad economic conditioning.


Political

Political trends that may impact my business are increased regularions that may make business activity more difficult to conduct


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

High regulations for credit repair companies. Not being able to conduct without being liscenced.


Quadrant II: High impact / Likely to Occur

Government laws regarding credit changing.

Quadrant III: Low impact / Unlikely to Occur

Lowering of industry wide prices for insurance and credit repair.


Quadrant IV: Low impact / Likely to Occur

One of the 2 free third party credit score monitoring platforms begins to charge for services.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Many dogs purchased/adopted due to pandemic lockdowns are not getting the training they need.


Technology

Gps collars.
The shift to entirely digital learning.


Environment

Increasingly extreme (hot and cold) seasonal weather trends.


Economy

Current real estate bubble in my area.


Political

Vaccine passports, should they become enforced in too draconian a manner.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Real estate bubble.
Shift to digital learning
Pandemic puppies

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

V-pass.
Extreme weather trends
GPS collars

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

For Boudoir/Artistic Nudity:
-changing opinions on the expression of gender, what gender means, nudity, and self
-changing opinions on types of relationships
-changing opinions on freedom of expression, looking for freedom from social norms
-abortion laws in US
-oppression of women around the world, hearing news of this
-acceptance of mental health becoming more common and understood

Photography in general:
-photos are more common now that most people have a phone with a camera in it (increases the value of photos, but decreases the perceived need for a professional photographer)
-value in documenting special events still


Technology

Photography in general:
-cellphone cameras, able to take photos at home
-need to have a camera that looks pro, as well as all the lighting equipment, tripod in order to look professional to others


Environment

Photography in general/artistic nudity/vulnerable photography:
-fears over changes in environment, putting this fear into nudity with nature (boudoir in nature to address this climate anxiety)
-desire to be free and close to mother earth in nature


Economy

-covid, people afraid to meet others, go outside, lack of money (this may change once things bounce back)


Political

Boudoir/Artistic Nudity:
-misinformation
-personal opinion being spread as fact
-Catholicism, religious extremism
-older generation/ cultural norms not allowing nudity
-guilty by association, being aware how others use your photos
-changing views of feminism


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-women’s rights being violated in Canada (Montreal and Vancouver specifically)
-religious extremism, cultural norms not allowing nudity (In Canada)


Quadrant II: High impact / Likely to Occur

-gender expression & identity shifts
-nudity acceptance shifts
-feminism ideas shifts (ex. US banning abortion rights)
-shifts in acceptance of ways of living, relationships, etc
-mental health awareness increasing
-COVID affect on people’s ability to spend extra money
-COVID affect on people’s comfort with meeting new people

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

-fears of environmental change
-new and better cellphone cameras

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

LGBT


Technology

Data Driven


Environment

Climate Change


Economy

Inflation


Political

Election


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Natural Disasters


Quadrant II: High impact / Likely to Occur

Protests

Quadrant III: Low impact / Unlikely to Occur

Recession


Quadrant IV: Low impact / Likely to Occur

Government policies

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

People have been unhappy with their work and leaving their employment in droves. This could prompt people to either work from home or simply be home during unemployment. With more people home, the less need for having someone else clean your house.


Technology

New products like vacuums or cleaning supplies. New ways to conduct surveys / get ahold of clients through new text / apps / websites.


Environment

Construction within Azilda.


Economy

Since so many people have been affected by the pandemic, peoples finances and employments have been hit the hardest. If people aren’t working, they may not be able or wanting to pay for cleaning services.


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

New cleaning supplies being created. New “green” options for products. New technologies being released which could help my business.


Quadrant II: High impact / Likely to Occur

People leaving their employment. Peoples finances struggling. Cost of living constantly growing.

Quadrant III: Low impact / Unlikely to Occur

Construction in Azilda


Quadrant IV: Low impact / Likely to Occur

Cancellations

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Population growth
Family
Health awareness
Quality expectations


Technology

E-commerce friendly POS systems
Staff free and cashier less stores
In store tech
Digital catalogue for easy browsing


Environment

Natrual resources in the supply chain
Environmental impacts of products
Energy and greenhouse gases
Chemicals and toxics
Waste


Economy

Growing number of dual -oncome families
Credit card usage
Labour market
Interest rates


Political

Anti-trust issues


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– News and media attention on reconciliation efforts and residential schools across Canada
– Providing economic support
– focus on wellness
– cultural celebration


Technology

– virtual sales / events to promote
– VR/AR to provide an immersive mobile shopping experience- connect customers with brand in a deeper more meaningful way
– online sales through high degree of personalization
– AI/ chat bots to interact with customers /gather data


Environment

– conservation + cultural biodiversity mandates
– Forest fires/climate change and its effect on mental health & wellbeing prompting people to find more remote places to go on vacation


Economy

– funding to support rural community with starting e-commerce businesses
– incentives likes the Export Navigator program to scale up small businesses
– opening up


Political

– Appointment of Indigenous governor general
– mass movements that disrupt status quo and push for new policies/ funding that center cultural and racial equity
– focus on mental health care/ wellness programs and using arts and creativity to address issues and promote healing
– UN-led international year of creative economy for sustainable development- using work of artists and cultural exchange for diplomacy efforts as to respond to global issues


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Decline in social stigma of wearing false hair
-Rise in popularity of social media
-Rise in LGBTQ+ acceptance
-Rise in popularity of drag queens
-Increase in the popularity of religions where one has to cover their hair


Technology

-Increase in efficacy of hair transplant surgeries
-Cure is developed for all types of baldness
-New cancer treatments developed where one keeps all their hair


Environment

-Rise in hair loss among millenials
-climate change impedes trade and transport of human hair
-climate change disasters displace a variety of people
-climate change events cause much more people to start losing their hair


Economy

-Rise in preference towards fair trade
-Growth potential in middle income users
-Increasing use of wigs in fashion and entertainment spaces
-Economic decline due to Covid 19


Political

-Anti LGBTQ+ legislation passing
-Strict legislation passes on the import of human hair
-Human hair trade becomes much more regulated


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Cure is developed for all types of baldness
-New cancer treatments developed where one keeps all their hair
-Strict legislation passes on the import of human hair
-Human hair trade becomes much more regulated


Quadrant II: High impact / Likely to Occur

-Economic decline due to Covid 19
-Rise in popularity of social media
-Rise in LGBTQ+ acceptance
-Rise in popularity of drag queens
-Rise in hair loss among millenials
-Rise in preference towards fair trade
-Increasing use of wigs in fashion and entertainment spaces
-Rise in hair loss among millenials
-climate change impedes trade and transport of human hair

Quadrant III: Low impact / Unlikely to Occur

-Anti LGBTQ+ legislation passing
-climate change events cause much more people to start losing their hair


Quadrant IV: Low impact / Likely to Occur

-Increase in the popularity of religions where one has to cover their hair
-climate change disasters displace a variety of people

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Doulas are becoming more well-known/popular
-C-sections and medical/pharmaceutical interventions in birth are becoming more prevalent
-People are seeking advocacy & support to address healthcare disparities
-2SLGBTQIA+ people are becoming more visible and may require extra support to navigate reproduction-related healthcare
-Abortion is becoming less stigmatized or is at least being talked about (somewhat) more openly.
– Parents are more likely to work full-time and may not be able to take parental leave depending on income/job status thus necessitating extra postpartum help
– perinatal loss is becoming (somewhat) less stigmatized and more support groups are coming up for people
-There is a very skewed idea of what birth/postpartum *should* look like based on social media and representations in entertainment media
-Abortion protesters are not allowed within 100m of abortion clinics (but are still present)


Technology

-The pandemic has made Zoom very well-known to people so they may prefer it to in-person meetings


Economy

-Caring for children is expensive; doula care is expensive; people may not be able to pay me a living wage
-More doulas are offering sliding scale/no cost/by donation options for clients
–


Political

-some political parties want to limit/ban abortion
-Throughout the pandemic, hospitals have limited visitors/support persons allowed for birth and may continue to do so
– vaccine passports may affect parents who do not wish to be vaccinated
-Parents may not want their children vaccinated against COVID19 but may be compelled to by the government
-Some political parties want to have $10/day childcare options


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Caring for children is expensive; doula care is expensive; people may not be able to pay me a living wage
-some political parties want to limit/ban abortion
-Some political parties want to have $10/day childcare options


Quadrant II: High impact / Likely to Occur

-Doulas are becoming more well-known/popular
-C-sections and medical/pharmaceutical interventions in birth are becoming more prevalent
-People are seeking advocacy & support to address healthcare disparities
-2SLGBTQIA+ people are becoming more visible and may require extra support to navigate reproduction-related healthcare
-Parents are more likely to work full-time and may not be able to take parental leave depending on income/job status thus necessitating extra postpartum help
-There is a very skewed idea of what birth/postpartum *should* look like based on social media and representations in entertainment media
-Abortion protesters are not allowed within 100m of abortion clinics (but are still present)
-More doulas are offering sliding scale/no cost/by donation options for clients
-Throughout the pandemic, hospitals have limited visitors/support persons allowed for birth and may continue to do so

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

-The pandemic has made Zoom very well-known to people so they may prefer it to in-person meetings
– vaccine passports may affect parents who do not wish to be vaccinated
-Parents may not want their children vaccinated against COVID19 but may be compelled to by the government

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Media trends in relation to sex (film, tv, books), socio-economic status geographic status etc

“The culture around sex and sexuality in public society”.


Technology

Online, virtual services, and training. Social media apps offer “advice” at no cost.


Environment

Climate control, lockdowns.


Economy

Gender diversity consultants are a growing industry.


Political

Political narratives often dictate discussions around controversial topics concerning but not limited to sex and sexual practices/services.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Federal governments begin mandating jobs involving consulting/coaching.


Quadrant II: High impact / Likely to Occur

Future like-minded competition.

Quadrant III: Low impact / Unlikely to Occur

They stop offering training in sexology fields to deter profit.


Quadrant IV: Low impact / Likely to Occur

virtually based business

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

the trend of social media not being as lucrative as it has been for over 5 years. also if there is a shift from asocial media marketing and small businesses using their platforms to let’s say solely in-person selling, then it will impact my business for the worse.


Technology

if a new app comes out then we will have to pivot our business to catch the trend so we could be ahead of the pack of new users, so it could either be a hit or a miss being in there earlier than most.

if technology or internet were to shut down then our entire business model will be useless


Environment

if there was poor weather of any sort, we will still be able to be active and running because our base of operations are online rather than in person, aside from meeting with the content creators or business/brand, which actually could be done online as well


Economy

if a great depression were to hit again, businesses would not be able to pay for our services which will put us at a loss. However, if something like Covid-19 were to come once again, we will still be able to thrive and be even more profitable because we will strictly have to be online, which initially we are


Political

not providing loans or grants for start up or small businesses will be pretty discouraging
the tax on businesses themselves will greatly impact us as well


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Technology
Economy


Quadrant II: High impact / Likely to Occur

Political
Environment

Quadrant III: Low impact / Unlikely to Occur

Society


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increase of disposable income
Less time for house maintance


Technology

Increase of construction and home renovations


Environment

More dusts in the air due to construction around town
Covid-19 virus, more demand for sanitization and disinfecting


Political

covid restrictions


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Covid Restrictions
Increase of disposable income


Quadrant II: High impact / Likely to Occur

Increase of disposable income
Less time for house maintance

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

DIY
Do more on your own


Technology

Mass production


Environment

Eco friendly
Less waste


Economy

Covid


Political

none


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Everyone knows how to make it


Quadrant II: High impact / Likely to Occur

Product becomes unavailable

Quadrant III: Low impact / Unlikely to Occur

people “steal” product ideas


Quadrant IV: Low impact / Likely to Occur

More shops open

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Men get more into skincare and haircare products


Technology

N/A


Environment

N/A


Economy

Economic upturn


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Higher demand

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Demand for ethical prices is still high.
One person i interviewed thought the black lives matter movement has been played out and Africa has been commercialized in a way.
People may become offended as the buisness will be carrying goods from Africa (and other continents as well) and is owned by a white person. Jumba recently faced criticism for operating in Africa with a head office in Europe.
People are increasingly buying handmade goods
People are increasingly shopping online and are thus more likely to buy online


Technology

Shipping is fast and relatively affordable
Online stores are easy to set up
Competition from mass produced items


Environment

People may protest international shipping as it is bad for the environment


Economy

The econamy is still recovering from covid-19. Less people with high disposable income
Money goes further in Togo’s economy.
Setting up an online buisness is becoming increasingly popular. Online hosting companies have started increasing thier prices and the market is becoming flooded with small buisness owners


Political

Canada has lower duties for goods created in developing countries


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Scandal, people getting mad and boycotting the buisness because I am white and ‘culturless’ selling stuff from Africa and around the world

Another supply chain disruption because of covid-19.


Quadrant II: High impact / Likely to Occur

Shopify and other online buisness platforms incresing prices again.

Incresing competition from other small buisness owners.

Quadrant III: Low impact / Unlikely to Occur

Competition from mass produced goods. There are ‘African goods’ being produced in china, however I don’t think I will face too much competition.


Quadrant IV: Low impact / Likely to Occur

Protest on the unjust payments for people in developing countries. My company has a policy of fair pay.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Social – More and more people realizing that menstrual & reproductive care needs to be innovated


Technology

Technology – New innovation in technology (i.e new breast pumps, apps to monitor women’s health)


Environment

Environment – People are becoming more environmentally conscious and so there is a need for products and services that are earth-friendly


Economy

Economy – More women are joining positions of power in the economy, and therefore will be spending more money on their own health


Political

Political – With the recent election, the government has promised a large sum of money to improve women’s health


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Societal


Quadrant II: High impact / Likely to Occur

Economy

Quadrant III: Low impact / Unlikely to Occur

Technological


Quadrant IV: Low impact / Likely to Occur

Political, Environmental

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Post pandemic life


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Commercial drivers shortages, changes in transport behaviour, highway construction ,
road blocks, increases traffic due to high demand of transportation


Technology

Sustainable transportation


Environment

Corona virus,
shipping and receiving
Restricted work across borders


Economy

Shortage of trucks, high demand in the market, very hard to get a hold of tractor trailers due to corona, market place is in need of more trucks.
social and economic policies can produce unforeseen and unintended transportation impacts on the population


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Cant find a contract to my liking


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur

Finding a truck that is not in the market


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The digital pivot: Through an increasingly popular move by the global community of consumers to embrace the online metaverse, the digital pivot is one in which businesses increasingly take their business online. This has implications because it makes it easier to meet our consumers where they’re now spending money-online, but harder because they may have less discretionary income to spend in a traditional sense-in stores.

Rise of block-chain tech: With the rise of the block chain, one of the main drivers of innovation in the space is NFT’s. This digital asset allows companies to create and distribute more value than otherwise possible with just their stand alone products. We plan to utilize this, and the assumption that people will value these digital assets as opposed to just our standalone product, to do the same(create//distribute more value).

Income distribution: Our product is ripe for investment from all wealth groups but is especially good for those on the lower rungs of income distribution. This happens to be because, our costs of entry are extremely low but still yield returns better than the 12 year average for the s and p 500.

Rise of the metaverse: This is a foray into the possibilities that are near endless in a move to develop a hyper connected and deeply entrenched online global community. For one example, our physical cards as the platform, coupled with Nft’s which act as tickets digital assets//stores of value and tickets to spend valuable one on one time with high value entrepreneurs, will all be led into the metaverse where these interactions/meetings can and will be held. These online meetings are in coincidence with in person meetings when permissable. The possibilities are endless as this is just a peak into web 3.0, and the paradigm shifts bound to happen in this space.


Technology

The digital pivot: We will target and participate in the digital pivot as described above. This also allows us to participate in receiving residual incomes through NFT smart contracts, for ex.

The digital divide: This is a threat to our business, which aims to be completely proactive in protecting the interests of the vulnerable and marginalized. For example, the lag in access to information in the third world would mean that the people living in these nations will not be able to participate… Or be aware of the benefit in participating in this paradigm shift in the marketplace, which makes Slapdown heavily dependent on the move towards digital assets.


Environment

-Alternative investments increasingly seen as hedges against inflation.
-Maturity in buyer demographic: This comes with an increase of net worth and an increase appetite for investment vehicles and diversification. With this, we expect the popularity of our cards to grow in similar fashion.


Economy

Move towards people investing more: This is a factor for us as consumption patterns are changing. People are moving towards using disposable income for investable assets versus just bills and wants.


Political

As a player planning to take first movers advantage, Slapdown needs to be careful with playing within the boundaries of anti trust. Specifically, by building out our offerings rather than controlling the market by stifling external forces//players, Slapdown intends to play within the rules.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-A Move to fully digital assets and entertainment.
-A move by the market leaders in trading card industry, away from sports trading cards as a main source of income.
-A complete ban on paper made products.


Quadrant II: High impact / Likely to Occur

-An increasing digital pivot.
-Mainstream access and use of blockchain technology.
-Move by the leaders in trading card market to get into Entrepreneur Trading Cards(TM pending).
– A partial ban on paper made products.

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Immediacy and convenience
– Direct to consumer rising
– Transparency
– Cancel Culture


Technology

– Social media
– Metaverse
– NFT
– Crypto Currency


Environment

– Sustainability
– covid 19


Economy

– High growth geographies
– Possible recession
– Shipping delays


Political

– new laws for green business development
– Covid 19


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Recession
– Cancel Culture


Quadrant II: High impact / Likely to Occur

– Shipping delays
– Higher growth in some geographical areas
– Covid 19 impacts
– Sustainability practices
– Social media reach
– Transparency

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

– NFTs
– Crypto currency
– Metaverse

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Fashion trends change every season and annually.


Technology

Artificial Intelligence has been becoming popular in the fashion industry. Robots are replacing human workers, placing them out of jobs.


Environment

Production in the fashion industry makes up around 10% of carbon emissions and causes pollution.


Economy

Economic factors both have positive and negative impacts on the clothing industry.


Political

There are a lot of political impacts on the fashion industry. Activists are starting to call out fast fashion industries for overproducing clothes and underpaying their workers.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– COVID-19 making online learning in higher demand
– 2, 381, 870 people between the ages of 5 and 19 (tutoring age)
– 2,313,890 families with children
– on average, families in Ontario spent $1, 691 in the year 2019 on education
– immigration – larger amounts of immigrant families coming to Canada that come from cultures that put a higher emphasis on education and are already used to private tutoring as a normal part of their child’s development (South Asian and East Asian communities)


Technology

– Online learning platforms being quickly developed and in use often
– Internet becoming a widespread utility used by households
– Increased reliance on digital technology in schools


Environment

– COVID-19 causing people to stay inside
– Climate change making families more environmentally conscious (and therefore wanting to use cars less, for instance)


Economy

– COVID-19 impacts to the economy – families hit hard and may not be able to afford premium costs for tutoring
– On the other hand, COVID-19 creating an online learning economic boom (increasing the growth of the industry to 2 Billion dollars in 2020)


Political

– Conservative government: cultural focus on STEM and Trades, meaning that there would be a bigger push for tutoring in those areas
– Also conservative government: cutting down funding in education leads to families needing to go outside of the public school system to provide kids with better education


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Sudden larger dip in the economy that causes people to completely not afford tutoring
– political crisis such as war that causes a shift in priorities
– sudden mass emmigration from Canada


Quadrant II: High impact / Likely to Occur

– Cultural shift towards preference for or acceptance of technology as a part of learning
– Technological advances that make e-learning even more easily accessible (thinking of the Metaverse blending VR, AR, and reality, and the possibilities of where it could take e-learning)
– change in government that increases economic stability

Quadrant III: Low impact / Unlikely to Occur

– people having less children than they currently are having now (the trend has been pretty much the same for several years)
– people having more children than they current are having now


Quadrant IV: Low impact / Likely to Occur

– shift in culture towards STEAM rather than STEM (or really a shift in which subjects/types of jobs are more ‘valuable’)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

During the pandemic their was a huge spike in music streaming and content creation. More people and businesses needed online content being made giving myself and other creatives in my field the opportunity to monetize our skills from home or in the workplace. A lot of businesses were affected by the pandemic and need content and branding advice in order to bolster their sales and gain new clientele.


Technology

Technological trends that may impact my business would be software updates that could help me to produce higher quality content or software failures that would keep me from being able to complete projects. a trend that could happen that would affect my business is a software that would help people create professional quality content in an efficient or easy to use way which would make my customers want to create the content themselves rather then work with my brand.


Environment

Blackouts or Wi-Fi shortages that would keep me from being able to go online and create content or connect with my audience. Damages such as water damages, malfunctions, system failure, and corrupted files


Economy

economical trends that may impact my business are pandemics, recessions, cancel culture of certain platforms and country wide sanctions of certain platforms


Political

Political trends that may impact my business is exportation and importation of certain products and equipment not being shipped by certain countries due to warfare, shipping delays and political issues.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Another pandemic that requires a stay at home order that would cut my services into half but I’d still be able to run my business online and from home.


Quadrant II: High impact / Likely to Occur

Power Outage that would keep me from being able to use equipment to complete my work. shortage of WIFI. equipment short circuiting.

Quadrant III: Low impact / Unlikely to Occur

hurricane, that damage’s my property
tornadoes, tsunami. x2


Quadrant IV: Low impact / Likely to Occur

quarantine, snow storm, ice storm

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Black mental Health
– Black empowerment
-Educating the younger generation
– Travelling while young


Technology

– Social. media platforms and apps that make it east to connect with people and opportunities
–


Environment

– Winter season approaches and some people look forward to leaving.


Economy

Being able to make more money online, therefore creating more “Digital nomad” opportunities as opposed to in person working


Political

– Covid 19 preventing certain events from happening
– Government implementations people don’t agree with and looking for a way out


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Being completely free from mandates to operate in any condition


Quadrant II: High impact / Likely to Occur

– Targeting black mental health and being successful

Quadrant III: Low impact / Unlikely to Occur

Targeting the elderly generation to participate in a retreat


Quadrant IV: Low impact / Likely to Occur

Obtaining youth outside of my preferred demographic

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The Pandemic. The stay at home order affects people coming to book studio sessions but we offer remote services as well.


Technology

The software we use to produce records can impact our business. Right now, we are able to use two softwares, but we prefer using the industry standard software. If they come out with a new development, we’ll be sure to learn it as well.


Environment

Toronto has a high crime rate so it might affect some people’s decision in coming to the studio.


Economy

The housing market has been on a bullish uprise, so monthly housing expenses may be more expensive.


Political

I might have competition with a studio nearby mines


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Being evicted from the studio space for not being able to keep up with monthly payments.


Quadrant II: High impact / Likely to Occur

The studio generating enough of a profit to pay the team accordingly.

Quadrant III: Low impact / Unlikely to Occur

The booth not being available to record in. If this happens, we simply just take the mic and it can be recorded anywhere else in the studio


Quadrant IV: Low impact / Likely to Occur

Clients coming late to their studio sessions

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

buying habits
age
low class, mid class high class
popularity (getting eyelash extensions is trending fast now but who knows how it will be a few years down the road)


Technology

Robotics
prices of technology that may be needed for my business might go up
cyber security


Environment

loss of resources due to shipment delays


Economy

Higher labor cost (if I were to higher employees to help with my business)
Labor shortages
supply constraints


Political

freedom
education
corruption
government can lower or raise taxes


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

government can lower or raise taxes
freedom
Robotics


Quadrant II: High impact / Likely to Occur

education
labor shortages
supply constraints
loss of resources due to shipment delay
Prices of technology that may be needed for my business
Popularity

Quadrant III: Low impact / Unlikely to Occur

low class, middle class high class


Quadrant IV: Low impact / Likely to Occur

age
buy habits

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

theres not many that will impact my business i would say if people just stop looking towards the small businesses and only go for the big ones then that would impact my company


Technology

there are no tech trends that will interfere with my business.


Environment

if they say that were not aloud to work in certain soils then that will impact me.


Economy

i would say if covid19 gets worse and wee all have to put a hall on all businesses again.


Political

there are no political trends that impact me.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

not sure of any


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Gender Inequality – do we have enough female, indigenous, black, etc. artists in the gallery?
-Can we do more events?


Technology

-Online shopping/shipping


Environment

-Ways to eliminate the use of plastic in wrapping pieces


Economy

-Ups and downs can impact gallery sales – do people want to buy “not essential product?”


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Online shopping/shipping
-Gender Inequality – do we have enough female, indigenous, black, etc. artists in the gallery?


Quadrant II: High impact / Likely to Occur

-Ups and downs can impact gallery sales – do people want to buy “not essential product?”

Quadrant III: Low impact / Unlikely to Occur

-Ways to eliminate the use of plastic in wrapping pieces


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Diet culture, anti-diet culture


Technology

Social media consumption


Environment

NA


Economy

Pandemic closing businesses and keeping people at home


Political

NA


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

NA


Quadrant II: High impact / Likely to Occur

Diet culture continues to run rampant

Quadrant III: Low impact / Unlikely to Occur

We all become a fat phobia free society


Quadrant IV: Low impact / Likely to Occur

NA

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Border Restrictions,


Environment

Pandemic


Economy

Poor exchange rates


Political

A Conservative government could bring a decrease in immigration


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Inclusivity and equality are very important for beauty and skincare companies.
Being as transparent as possible about supply chain and ingredient list is very important.


Technology

E commerce is continuing to grow.
Customers expect to have communication back and forth with businesses.
Customers expect brands to have a large and relatable social media presence.


Environment

Plastic pollution, water waste, carbon footprint, and environmental impact in general are all very important issues.


Economy

We are going through an economic downturn.


Political

Similar to societal trends, brands are expected to align with customers belief systems.

There is a chance of political changes in the future that make it impossible to run my business.

Supply chain issues are partly political and partly environmental.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Future environmental disasters / societal collapse – Impossible to plan for this kind of thing but likely wouldn’t happen until the distant future,


Quadrant II: High impact / Likely to Occur

Environmental impact – reducing plastic pollution and water waste is a key part of my brand.

Social media presence – it will be important for me to post often and post quality content.

E-commerce – It will be important to keep shipping times / prices low, so that I can reach online customers.

Economic downturn – I will keep my prices moderate to stay within most peoples budgets.

Supply chain issues – I make an effort to source locally and keep ingredient lists minimal.

Brand transparency – Being upfront and honest about ingredients is important to me.

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Trend is toward hypo-allergenic dogs which often means poodle mixes, i.e. dogs requiring frequent grooming.

Social Media Marketing is a must – people love sharing photos of their dogs’ new haircut.

Millennials are tech savvy and own the highest percentage of pets – may tend to prefer online booking.


Technology

Millennials are tech savvy and own the highest percentage of pets – may tend to prefer online booking.

Using business management software to save time and be more competitive.


Environment

Trend towards environmentally conscious products and services.

Showing you are environmentally friendly in grooming practices and products.


Economy

Covid 19 may mean people are willing to spend less, or trying to groom at home more.


Political

Possibility of pet groomers becoming regulated by government.

CBD products are now legal and growing in popularity.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Government regulations increasing.


Quadrant II: High impact / Likely to Occur

Social Media Marketing is a must – post photos!

Environmental Friendly Products & Services.

Business Management Software.

Quadrant III: Low impact / Unlikely to Occur

Mobile grooming competitors.


Quadrant IV: Low impact / Likely to Occur

Pandemic-related DIY grooming.

Millennials prefer on-line bookings.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Less social media / social media burnout
-Increase interest in email marketing, newsletters, blogging, and text-based marketing.
-Virtual school and programs, embedded on a regular basis, is making people depressed.
– Gen Z and millennials more interested in spiritual & mind-body-soul businesses and services


Technology

-Popularity of digital wellness programs
-Decrease in smarphone usage and social media use
–


Environment

-The desire for consumers to make less of a negative environmental impact


Economy

-The rise in prices due to inflation
-Yoga studios go out of business because they can’t keep up with rent due to lockdowns.


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Covid lockdowns


Quadrant II: High impact / Likely to Occur

-Increased interest in home yoga workouts driven by lockdowns around the world. This is likely to continue after restrictions are lifted, although with reduced demand.

-less money to spend on memberships, clothing, and accessories, and so on due to the economic recession, loss of jobs, and reduction in disposable income.

Quadrant III: Low impact / Unlikely to Occur

Unsure!


Quadrant IV: Low impact / Likely to Occur

Long-term – yoga studios will bounce back. People visit them for an experience – like a spa on a budget. They enjoy the serene atmosphere, sandalwood scents, and minimalist decor.

–

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Word of mouth advertisement
-Networking, working with bigger artists to get your name behind projects
-Content people want to produce that goes against who you are as a person(white supremecist, Nazi music or something of the likes)


Technology

-Social media allows artists to find their audience among each platform
-Technology allows people to be able to record off their phone/home computer


Environment

-The seasons. Winter isn’t the best for planning a tour in. Summer, spring and fall months are all preferred. Same with festivals, not a lot of festivals in the winter.


Economy

-If a crash happens then it could affect business
-One in three jobs in music lost during COVID pandemic
-There’s more people who are poor than ever before


Political

-Where can I operate?
-Copyright lawsuits
-Sync licensing that makes content exclusive use


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Copyright lawsuits
-Another pandemic like COVID(if you look back at history they usually only happen once every century or so)


Quadrant II: High impact / Likely to Occur

-Bad weather that permits travel
-Seasonal fluctuation during spring, summer and fall months with decline in live performances in winter time
-People not having the money to come record
-good word of mouth advertisement and networking

Quadrant III: Low impact / Unlikely to Occur

-Having potential customers come want to record content that’s very degrading to a race or group as a whole


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Lower attention span on new generations, while youth are also getting very tired of attending online meetings.


Technology

Technology is speeding up in advancements, including efficiency, speed, capabilities, networking, etc.


Environment

N/A


Economy

COVID-19 has caused many households to lose a lot of money and to be financial cautious, which is not good, as I am trying to convince youth to spend money on my program.


Political

Politicians seem to be cutting back on a lot of funding for non-profits and youth businesses, which will give me less start-up money to get started and keep going in the beginning.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Winning lots of grants to start up.


Quadrant II: High impact / Likely to Occur

Schools accept to me promoting my business within boards.

Quadrant III: Low impact / Unlikely to Occur

Another COVID-19 outbreaks is created and businesses have to pivot again.


Quadrant IV: Low impact / Likely to Occur

Government removes funding for non-profit and youth-servicing programs.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– People are staying home more therefore ordering more take out/ delivery versus choosing dine in/ fast food options
– People having more time to cook at home because of staying home more than pre-covid however they may still not have the skills/ desire to prepare meals for themselves and their household!


Technology

– Rapid development of apps and services like uber eats and it’s fast growing competitors allows for a higher chance of exposure directly to the right target audience.


Environment

More people are starting to care about the environmental effects of the products they use so it’s worth it to try to implement the right packaging, waste management systems to satisfy this type of clientele


Economy

– Inflation is high and economy is not doing so great! Adopting to this new market means that we should focus on fulfilling a need and satisfying a demand that already exists in this market and quality food is for sure one of the things that is in high demand still
– Recession!


Political

Vaccination requirements changing


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Recession!


Quadrant II: High impact / Likely to Occur

– Rapid development of apps and services like ubereats and it’s fast growing competitors
– Inflation is high and economy is not doing so great

Quadrant III: Low impact / Unlikely to Occur

– People having more time to cook at home because of staying home more than pre-covid however they may still not have the skills/ desire to prepare meals for themselves and their household!


Quadrant IV: Low impact / Likely to Occur

– Vaccination requirements changing
– More people are starting to care about the environmental effects of the products they use

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Veganism trends
sustainability trends
Eco trends


Technology

Clothing manufacturing
factory improvements
material sourcing


Environment

Climate change spikes
Species extinction
Natural disasters


Economy

Opiod epidemic
Environmentalist movements
recession
Exchange rate


Political

Environmental laws and legislature
Export/ Import regulations
Tax regulations


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Material Shortages
Transportation Shortages
Recession


Quadrant II: High impact / Likely to Occur

Veganism
Eco Activism
Opiod Epidemic

Quadrant III: Low impact / Unlikely to Occur

End of Climate Change


Quadrant IV: Low impact / Likely to Occur

Tax Regulations
Environmental Laws

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

How society perceives black women and their hair . how black women navigate the world to survive


Technology

youtube


Environment

family, workpalce


Economy

jobs


Political

family school


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

increasing attention to health
mandatory masks


Technology

opportunity to advertise with social media
able to have high tech non contact machines with multiple payment methods


Environment

growing attention to our environmental impact
masks are mandatory


Economy

masks are mandatory
businesses have lost profits due to covid ( i offer additional income stream)


Political

increasing political focus on health care and the environment
pressure to wear masks


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

another pandemic!!


Quadrant II: High impact / Likely to Occur

the end of the pandemic

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

another variant of covid extending masks usage longer than predicted (2027)

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Oil and Treatment that are on the market


Technology

Factor


Environment

The weather


Economy

No job no money


Political

Pricing on products


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Pricing on products going up
Stop growing onions


Quadrant II: High impact / Likely to Occur

Get the product in hair salon barber shop. And shopping stores. Making at a mass production

Quadrant III: Low impact / Unlikely to Occur

No Buying the product
The smell


Quadrant IV: Low impact / Likely to Occur

Price Going up

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Loss of interest in fitness
-People stop using gyms


Technology

-Better wick a way moisture tech makes these shirts irrelevant
-Someone finds a way to manufacture a lot more cheaply than my supplier, lowering their prices to standards I can’t compete with


Environment

-Potential backlash if a supplier is linked to an environmental disaster or other negative issue
-The warming of the Earth leads to greater usage of these types of shirts/materials, causing a lack of supply and an inability to manufacture/sell my brand


Economy

-Inflation leads to less purchasing of materials like clothes
-Covid leads to more gym closures, less exercise causing less demand for my product
-Economic downturns weakening demand


Political

-Supplier ends up using child or slave labour, embroiling us in controversy
-Geopolitical issues, such as war, that may lead to the loss of a supplier
-Tariffs or new trade embargos


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Child/Slave Labour Supplier Issues
-Tariffs, trade wars, trade embargos affecting supply
-Supplier causing environmental disaster


Quadrant II: High impact / Likely to Occur

-Inflation
-Supply Issues
-Gym Closures

Quadrant III: Low impact / Unlikely to Occur

-Athletic Culture Changes in Canada
-New Technology making my tank tops irrelevant


Quadrant IV: Low impact / Likely to Occur

-War in Ukraine (or similar)
-New competitors entering the market

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Change in average mental health practice and wellbeing.
Ongoing or end to the COVID-19 pandemic


Technology

Access to computers, cameras, or phones.


Economy

Economy doing well


Political

Managing national debt and ongoing funding in mental health and health research as well as service delivery at a federal and provincial level.
Ending or continuation of COVID-19 lockdown restrictions and regulations.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Ending or continuation of COVID-19 lockdown restrictions and regulations.
End of pandemic.


Quadrant II: High impact / Likely to Occur

Managing national debt and ongoing funding in mental health and health research as well as service delivery at a federal and provincial level.

Increase access to computers, phones, and cameras.

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Video trends that make people more or less likely to watch the specific content on my youtube channel.


Technology

Changes to the Maine youtube website or to how mobile devices access it, making it more or less convenient for people to watch.


Environment

Bad weather or more virus variants/lockdowns may cause people to spend more time at home possibly watching more videos online.


Economy

Although youtube (unless it’s youtube premium) is free and therefore watching the videos is free, the economy can have an impact on prices for internet access/data which may cause people to limit the content they stream.


Political

Sponsors/ad revenue may and have before declined on the platform when videos from popular you tubers showed content that was considered not family friendly.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Youtube shutting down/turning off monetization.


Quadrant II: High impact / Likely to Occur

Another “adpocalypse” where ads/sponsors go through a dry period on the platform.

Quadrant III: Low impact / Unlikely to Occur

Youtube let’s people decide if they wants more than one ad in their videos. They may change this policy, which could affect the amount of ad revenue but it would not affect the monetizable aspect.


Quadrant IV: Low impact / Likely to Occur

Losing a bunch of subscribers all at once. Every once in a while youtube mass deletes inactive accounts, which can appear as you tubers losing audience members, but it has no affect.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Rise in Chronic Illness
– The amount of those with chronic illness is on the rise. Some attribute this to us poisoning the environment, poor diet, lower/different nutrients in our crops, sedentary lifestyle, etc.

End the Stigma Movement
– Gen Z especially is leading this movement, being a lot more open & honest about their mental health struggles and working to end the stigma around mental illness


Technology

Growing Tools & Resources for Online Businesses


Economy

Low Disposable Income
– Chronically ill: financial burden of treatments & medication
– Chronically ill: lower capacity to work so smaller/less predictable income stream


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Rise in those with chronic illness and multiple chronic conditions

Rise in those who identify as having mental health issues

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Views/Perspectives on Art
Abstract versus Realism
Digital versus Physical


Technology

Online design and digital artwork
Tools, development of equipment, efficiency, transport & delivery


Environment

Forestry, climate change, wood/lumber availability
Sustainability efforts


Economy

Lumber prices, cost of delivery, oil prices


Political

Sustainability & Forestry Laws – Environmental influence


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Extinction of Tree Species


Quadrant II: High impact / Likely to Occur

Climate Change
Lumber Prices/Rarity

Quadrant III: Low impact / Unlikely to Occur

Fossil Fuel Depletion


Quadrant IV: Low impact / Likely to Occur

Carbon Taxes

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

aging demographics, more individualism in gen z, cautious & high-value spending, environmental and social justice values, higher tech-savviness, longer life, gig economy, rise in mental health issues, career changes and upskilling, increased desire for recognition, pursuit of happiness, physical and emotional fitness. The Great Resignation or the Great Reevaluation, paying for convenience and their time back, quality over quantity, increased financial literacy/awareness, fewer people wanting to work “menial” jobs?
Moreover, improving social skills and focusing on critical areas for self-awareness, such as emotions, character traits, habits, individual values, and the psychological need that shapes the day-to-day behavior of individuals are gaining importance.
Industry players are introducing customized programs for clients to gain a competitive edge over others. They incorporate the feedback and suggestions given by customers to improvise their service offerings. However, with a busy lifestyle, it is difficult for individuals to find time to analyze their strengths, weaknesses, personalities, values, and habits. Moreover, despite having interest and curiosity regarding self-awareness, several people are not aware of the availability of personal development programs. Lack of time and cognizance amongst individuals is likely to hamper the growth of the market during the forecast period.
personal coaching has 40% market share and e-platform segment has 30% market share and self-paced digital items have 7%. skill enhancement takes leading 30% share for reasons for self-dev.
Personalization is more premium than ever. CaaS = curation as a service


Technology

higher tech-savviness, better availability of tech globally, 5G incoming, censorship in some countries; various tech options including podcasting, on-demand courses, e-books, audiobooks, and other online platforms; AI in coaching and follow-ups and emotional check-ins like F4S, the emergence of surround sound 3D audio technology, which improves the audio experience, are expected to propel the demand for audiobooks, governments globally are supporting digital mediums for learning as it is environmentally friendly, telehealth for counseling, meditative music/audio therapy


Environment

covid and the great resignation, natural disasters causing damage and health issues, governments globally are supporting digital mediums for learning as it is environmentally friendly


Economy

taking personal time off from career, inflation, higher interest rates, more desire for fulfilling life, increasing self-dev industry spending, increased competitors in self-dev industry, slower/decreasing economic growth, Growing needs amongst employees to meet the company’s expectations and develop their domain skills is further anticipated to fuel the growth of the market, layoffs from covid esp in tourism & hospitality
Increasing adoption of personal development programs amongst working professionals for leadership, people skill, presentation, sales, organizational development, customer service, productivity, technology training, communication, individual growth, and other skill improvement is expected to drive the segment. Furthermore, the growing need for refining the skills amongst individuals to stand out in the current competitive business environment is expected to drive the segment during the forecast period.
individuals to analyze their capabilities for better decision-making. Moreover, self-awareness is crucial to a business professional to boost productivity, employee communication, trust, and engagement to improve the organization’s overall performance. The mental health segment is anticipated to witness substantial growth in the next few years. Increasing awareness about mental health and psychological well-being is anticipated to drive the demand for mental wellness programs. Hence, individuals are moving towards courses offered to improve their mental health and handle stress in their day-to-day life.
South America and the Middle East and Africa are anticipated to witness significant growth from 2020 to 2027 owing to a rise in participation in the self-improvement programs focusing on communication skills.
EU $10B industry has an increasing focus on the mental well-being of the individuals. They’re increasingly participating in personal dev programs relating to psychological & spiritual fitness. Moreover, physical fitness programs are expected to gain prominence.
Asia Pacific is expected to witness the fastest growth over the forecast period due to the increasing adoption of digital learning mediums and growing awareness about enhancing professional skills for better career opportunities. Moreover, the region witnessed a surge in the adoption of self-help apps for fitness, diet, and weight loss. The adoption of self-improvement programs by the extensive consumer base in the region is fueling industry growth.
work flexibility


Political

war in Europe means higher fuel and food prices, coming of ICF regulation for coaching, political correctness, government regulating education – the industry is being increasingly regulated owing to data security and copyright concerns so turning to live events and webinars instead of courses, governments globally are supporting digital mediums for learning as it is environmentally friendly, digital nomad visas,


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-government regulating education
-another covid
-world war
-emerging market leader


Quadrant II: High impact / Likely to Occur

-political correctness
-increasing self-dev industry spending
-increased competitors in self-dev industry
-increased competitors
-reskilling & upskilling
-increased biz personal development programs
-Increasing awareness about mental health
-increased Asia & Africa participation in self dev esp for professional skills and physical wellness
-cautious & high-value spending
-aging demographics
-rising gig economy
-rising mental health issues
-career changes and the great reevaluation/reshuffle
-skill enhancement
-personalization as a premium
-paying for convenience and their time back
-quality over quantity
-increased financial literacy/awareness

Quadrant III: Low impact / Unlikely to Occur

-taking personal time off from career
-digital nomad visas (in more countries)
-increased desire for work flexibility
-natural disasters
-censorship in some countries


Quadrant IV: Low impact / Likely to Occur

-war in Europe means higher fuel and food prices
-coming of ICF regulation for coaching
-inflation & higher interest rates
-slower/decreasing economic growth
-more desire for fulfilling life
-governments supporting online learning
-AI & 3D audio
-music therapy/relaxation

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

“Second Career” Mindset


Technology

Online Learning Tools


Economy

War Economy – War in Russia or other places discouraging commerce and secondary spending


Political

Covid restrictions means people are staying at home, learning more


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

War in West


Quadrant II: High impact / Likely to Occur

Covid

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

War in East

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Jewelry industry is an industry which directly belongs to people and specially to women. So as societal trend I would say that people can impact my business. And I can improve my business as their requests.


Technology

My business plan is based on Turkish jewelry that I will import from there. So as technological trends I can not say anything.


Environment

Again I do not have anything to say here.


Economy

Importing stuff from Turkey is an economical issue, so I would say that a country’s economy impacts my business directly. The import taxes and etc.


Political

In my business that I am importing stuff from Turkey, Canada and Turkeys’ political relationship should be good. In this way, I will be able to import stuff with no struggle.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Political trends


Quadrant II: High impact / Likely to Occur

society trends and economy trends

Quadrant III: Low impact / Unlikely to Occur

environment trends


Quadrant IV: Low impact / Likely to Occur

technology trends

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

hw


Technology

hw


Environment

hw


Economy

hw


Political

hw


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

hw


Quadrant II: High impact / Likely to Occur

hw

Quadrant III: Low impact / Unlikely to Occur

hw


Quadrant IV: Low impact / Likely to Occur

hw

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Technology

asdfasdf


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

There is a culture shift that wants to highlight the identity of the individuals. There is more of an emphasis in self-expression. The level of queer and activism culture has grown. There is a high-level of niche groups relating to pop culture fanbases. The use of pronouns as an identifier for instance creates a market for pins and merchandise to show that aspect of ourselves.

The societal trends for art have also shifted to be less fine art focused. People want to buy art with a vulnerable story behind it. While there is a still a market for the traditional aspects of art- the availability and marketability of digital art such as emotes, profiles and various avatars.


Technology

There are so many more ways we engage with art. The use of social media has changed how we shared and engage with art. There has been a high surge in NFTs but also the internet culture at large has change art. The internet culture of YouTube and other content creators on platforms has created a niche market for every sub-community to that creator. You can create fanart about a YouTuber and sell it now. There are several drop-shipping technologies to use now. Also, many platforms to sell art on. The challenge is really standing out but sharing art is easier than ever before.


Environment

The environmental concerns I have regarding the use of drop-shipping has ruled out that option for me. I also want to be able to source any merchandising I make from local sources as the environmental aspect of working with overseas manufacturers is high. The environmental impact and waste generated for traditional art is higher long term. However, the technology for digital art also has a higher start up and initial environmental cost. The art produced has no waste but the iPad your made it on has an environmental cost.


Economy

COVID created a bunch more artist. At the beginning, there was a a big boom in art education. It seemed that everyone was looking for classes especially for their kids during the day when lockdowns were happening. However, the galleries closing really shifted all art to online store fronts. The purchasing power for art went down. People want are you can use- sop things like card games took off. People losing their jobs also meant that mid-level purchases of art stopped. Smaller purchases like stickers gained popularity.


Political

The politics of the world created a culture of awareness- which meant that any art with a political message was more powerful. Art with a story that has not yet been told has been powerful. The discussions around mental health made a market for more art supporting and having a self-care practice. Several activist causes spurred the creation of art with a message.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-political messages within art being too controversial and alienating customer base


Quadrant II: High impact / Likely to Occur

Supply chain issues affecting drop-shipping

Quadrant III: Low impact / Unlikely to Occur

Waste generated from creating art needing to be recycled or repurposed


Quadrant IV: Low impact / Likely to Occur

Finding storage solutions for the art produced

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

-Increased demand for environmentally friendly products
-Increased interest in limiting the use of plastics
-Increased demand for local/domestic goods (almost all speed cubes are made in China)


Technology

-More advanced, accessible, user-friendly CNC mills
-More powerful and user-friendly CAD and CAM software
-Advances in speedcubing technology, allowing for cheaper, higher-quality speed cubes


Economy

-Decreased availability and increased cost of hardwood
-Individuals having less disposable income for non-necessities


Political

-Copyright or trademark claims from other speedcube manufacturers


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-Decreased availability and increased cost of hardwood
-Copyright or trademark claims from other speedcube manufacturers


Quadrant II: High impact / Likely to Occur

-Increased demand for local/domestic goods (almost all speed cubes are made in China)
-More advanced, accessible, user-friendly CNC mills (medium impact)
-More powerful and user-friendly CAD and CAM software (medium impact)

Quadrant III: Low impact / Unlikely to Occur

-Individuals having less disposable income for non-necessities (unlikely to happen on a scale that would affect me)


Quadrant IV: Low impact / Likely to Occur

-Increased demand for environmentally friendly products
-Increased interest in limiting the use of plastics
-Advances in speedcubing technology, allowing for cheaper, higher-quality speed cubes

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Society – Society : They make the choice of whether they like to choose your bakery to buy the items or not. They make the choices when it comes to purchasing.


Technology

I have to choose equipment for my store and I will have to choose the technology for it.


Environment

The kind of environment my bakery will be selling in. Will be a nice quiet shop environment. A shop setting.


Economy

The economy will be a part of my shop. Because that is where my shop will grow and flourish.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

society trends are very usefull for my website as my website is for women to connect around the world.


Technology

People may write article about technology as it may be what they are passionate about.


Environment

People may write article about the environment as it may be what they are passionate about.


Economy

People may write article about the economy as it may be what they are passionate about.


Political

I would like to stay away from politics


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

celebrities using the site


Quadrant II: High impact / Likely to Occur

a boom in blogging

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

tik tok, instagram, Facebook and more


Technology

photoshoots


Environment

packaging finding the right environmentally friendly packaging.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

beauty trends


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Self care, increased selfishness, “that girl” trend, clean makeup trend


Technology

types of ice cream machines available, electricity prices, transportation fees (trucking), cooler at farmer’s market, driving to and from farmer’s market, gas prices, ecommerce, how to accept payment at farmer’s market or anywhere else (portable card reader), bio plastics, electric vehicles, also bullfrog power, solar energy, bio diesel fuel!!! power the plant using homemade bio diesel


Environment

how sustainable are the fruits I’m using? are they from local farmers? certified b corp is trending (this is a plus but not a deciding factor in purchases so far), current banana going to go extinct? unlikely


Economy

people willing to spend more on ethical and sustainable products, but wages are not rising with the cost of living in Toronto, housing bubble still has not burst and people may not have lots of disposable income, food prices increasing very likely


Political

veganism, leftism, democrats, liberal party, progressive people


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

current banana going to go extinct


Quadrant II: High impact / Likely to Occur

veganism, leftism, democrats, liberal party, progressive people, people willing to spend more on ethical and sustainable products, but wages are not rising with the cost of living in Toronto, housing bubble still has not burst and people may not have lots of disposable income
certified b corp is trending
types of ice cream machines available, electricity prices, cooler at farmer’s market, driving to and from farmer’s market, gas prices, ecommerce, how to accept payment at farmer’s market or anywhere else (portable card reader), bio plastics, electric vehicles, also bullfrog power, solar energy, bio diesel fuel!!! power the plant using homemade bio diesel

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Marriage/wedding trends (more couples getting married), South Asian population local to me, wedding trends that are “in style”


Technology

being able to print your own designs at home?


Environment

N/A


Economy

If economy goes down, less money might be spent on weddings


Political

N/A


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Henna trends changing – henna changes but not to an extreme amount


Quadrant II: High impact / Likely to Occur

Societal needs – smaller weddings post-COVID = less sales

Quadrant III: Low impact / Unlikely to Occur

boycotting henna, unlikely to happen


Quadrant IV: Low impact / Likely to Occur

environmental and political trends have little impact, but the changes do occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

o Mindful of Cultural appropriation
o People nowadays want to support local and BIPOC


Technology

o Not everyone shops online
o Be mindful of content uploaded


Environment

o Conscious of ethically sourced products, the effects it has o the environment when we import rather than grow. For instance the herbs, could possibly make the incense myself rather than contribute to the carbon footprint.


Economy

o My products are not “essential”, its deemed luxury
o Increase labor cost


Political

o Legit business, not evade taxes.
o Register as a business or as an organization
o Watch any government funds, laws
o Monitor Covid( in person gatherings)


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Covid lockdowns, Labour costs rising


Quadrant II: High impact / Likely to Occur

No exports happening

Quadrant III: Low impact / Unlikely to Occur

Tax fraud


Quadrant IV: Low impact / Likely to Occur

Products deemed non essential

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Millennial women make up 51% of their own jewelry sales, meaning that Jewelry as a gift is losing it’s commonality in a modern world


Technology

So many new and innovative tools now exist for jewlers to make the process of creating pieces that much easier


Environment

Gemstones are mined from the earth and are not a renewable resource. Therefore the depletion of availability is an ongoing risk


Economy

Switch from physical currency to digital currencies such as crypto and private government regulated digital currencies.


Political

activism against gemstone mining and land acquisition could diminish or halt the production of gemstones. Metal ores are non-renewable resources that may run in short supply.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

No more gemstone or metal mines


Quadrant II: High impact / Likely to Occur

Switch to digital currency systems

Quadrant III: Low impact / Unlikely to Occur

Drop in industry sales globally reduces chances for growth


Quadrant IV: Low impact / Likely to Occur

increased sales in the industry

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Bad reviews from customers
Unpleasant experiences with services that was spread through word of mouth


Technology

Social Media not longer existing
No electricity


Environment

Extreme weather changes
ingredients for products aren’t available


Economy

Costs of living increases
Product rates increase


Political

Not allowing personal services from home based salons


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Not allowing personal services to be done from home based salons
Social Media being deleted


Quadrant II: High impact / Likely to Occur

Bad word of mouth

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

constant change in trends

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Customers treatment of product may affect expenses


Technology

Technological advancement may help in reducing costs as older technologies become cheaper before becoming obsolete


Environment

Environment may affect maintenance of product


Economy

Economic downturn and unemployment rate may affect cash flow through payment or non payment of customers


Political

Changes in regulation and taxation,tax credits may impact bottom line


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Environment may affect maintenance of product


Quadrant II: High impact / Likely to Occur

Economic downturn and unemployment rate may affect cash flow through payment or non payment of customers

Quadrant III: Low impact / Unlikely to Occur

Technological advancement may help in reducing costs as older technologies become cheaper before becoming obsolete


Quadrant IV: Low impact / Likely to Occur

Customers treatment of product may affect expenses

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

testing


Technology

testing


Environment

testing


Economy

testing


Political

testing


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

testing


Quadrant II: High impact / Likely to Occur

testing

Quadrant III: Low impact / Unlikely to Occur

testing


Quadrant IV: Low impact / Likely to Occur

testing

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Concern for environment


Technology

Painting robots


Environment

Natural Disasters


Economy

Recessions


Political

Civil war


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Civil war
Natural Disasters


Quadrant II: High impact / Likely to Occur

recessions

Quadrant III: Low impact / Unlikely to Occur

Painting robots


Quadrant IV: Low impact / Likely to Occur

Concern for environment

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– Various nerd culture changes
– People wanting to follow their passion
– People waning more freedom


Technology

– Technology can upgrade to make tasks easier for entrepreneurs
– As tech advances, new opportunities emerge


Environment

– Weather may affect certain plans for events


Economy

– People have more access to capital means they can afford help
– A good economy makes people branch out to try new things


Political

– People may turn to entrepreneurship depending on the political landscape


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Technology can upgrade to make tasks easier for entrepreneurs
– As tech advances, new opportunities emerge more freedom


Quadrant II: High impact / Likely to Occur

– People wanting to follow their passion
– People wanting
– People have more access to capital means they can afford help
– A good economy makes people branch out to try new things

Quadrant III: Low impact / Unlikely to Occur

– Weather may affect certain plans for events


Quadrant IV: Low impact / Likely to Occur

– Various nerd culture changes
– People may turn to entrepreneurship depending on the political landscape

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Awareness of food consumption increases


Technology

Increase of gluten free, vegan foods
Increase of healthy and clean foods


Environment

Food Shortages in western world


Economy

Recession
Inflation of goods


Political

Gov regulation of gluten free procedures
Gov regulation of food prep and handling


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Food Shortages in western world


Quadrant II: High impact / Likely to Occur

Increase of gluten free, vegan foods
Gov regulation of gluten free procedures
Gov regulation of food prep and handling
Inflation of goods
Recession

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

Increase of healthy and clean foods
Awareness of food consumption increases

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Inflation


Technology

demand in new materials


Environment

sustainability/peta


Economy

Inflation


Political

Laws or bans on materials we specialize in.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

ban on bullet-proof/bullet-resistant products.


Quadrant II: High impact / Likely to Occur

increase demand in designer due to inflation

Quadrant III: Low impact / Unlikely to Occur

uninterest in designer products


Quadrant IV: Low impact / Likely to Occur

Consumers unable to keep up with costs of designer products due to inflation.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The new healthy is a consumer journey of contradiction and discovery
The pandemic has caused a shift in the wellness industry in both directions:
Positive
Being isolated for many years has caused people to understand the value of their well-being. This suggests that overall the global population is aware of mental health and wellness and is activly looking for new ways to invest in themslves, engage in self-care, and make their health a priority. This can serve as an advantage for breaking the barries of stigma and discrimination on mental health and wellness.

During the pandemic, many people made good use of the extra time by developing a new skill, defining an old skill, or finding a new interest. Whether it was to pass the time or earn passive income, people have found ways to make the most out of their time. This is beneficial to my business because we act as a guide for people on their journey and help stare them in a direction that will help them get to the ultimate goal they are striving for.

Negative
As society welcomes and warms up to the idea of prioritizing their well-being, some people may lose patience in their progress as one’s journey is a lifelong commitment that takes years of dedication and patience to achieve.


Technology

The pandemic made technology a necessity for surviving the restrictions and finding a new normal. Though the pandemic is more or less over, society has adapted technology into their everyday lives. Research shows that people are incorporating remote and virtual services into their routines.

Digital well being tracking
Tracking stress
Digital Healthcare
Personalized wellness experiences
People expect personalized health and wellness. But consumers are also increasingly privacy-conscious-they’re wary of who they share their personal data with. 50% of consumers say they don’t trust tech companies with their health information. To build consumer trust, health and wellness brands must be provided value to consumers who are comfortable exchanging privacy for personalization.
In practice, wellness brands go beyond building personalized marketing campaigns and building tailor-made product offering unique to the consumers
58% of consumers are “very interested” in personalized supplements made just for them, with younger generations like Gen Z and millennials being most interested (71%).
Consumers download apps to help them build solid health and wellness routines.
The rise of the wellness metaverse


Environment

Progressive consumers are a window on to the future of health and wellness.
Through exposure to the enviromental impcts of both industrial and sustainale farming methods, we expect consumers will be more inclined to make significant changes to their lifestyle, with a focus on more sustainable diets. Vsiornary food companies will develop a passion for food culture and will understand the progressive health and wellness consumer so they can authentically speak to mainstream consumer aspirations.


Economy

Finacial wellness
Gen Z is already exerting its influence on the marketplace and some have not been born yet.
Health and wellness is a key component of contemporary health and wellness lifestyle across all consumer age groups
Brands will partner with authentic influencers
(This is why I would like to intertwine myself with my brand)


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Free mental health care issued by the government. This was proposed by the NDP


Quadrant II: High impact / Likely to Occur

Immune Health
Breath work
Mindful eating
Sleep Hygiene
Outdoor activities
Decluttering and decorating
Travel
post Pandemic/new normal
digital healthcare
tracking stress
personalized wellness

Quadrant III: Low impact / Unlikely to Occur

The food and beverage industry


Quadrant IV: Low impact / Likely to Occur

metavese/virtual wellness solution
Touchless Spas

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increase in organic and natural foods


Technology

Herbal preparations (essential oil, fatty oil, tinctures, and other extracts) are products obtained from plant raw materials by specific technological processes, such as distillation, pressing, extraction, and others.


Environment

Loss of plant species is between 100 and 1000 times higher than the expected natural extinction rate


Economy

The herbal industry shares about US$100 billion with decent growth potential worldwide


Political

pharmacognosy and standardization compared with conventional drugs


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Herbal preparations (essential oil, fatty oil, tinctures, and other extracts) are products obtained from plant raw materials by specific technological processes, such as distillation, pressing, extraction, and others.


Quadrant II: High impact / Likely to Occur

Increase in organic and natural foods

Quadrant III: Low impact / Unlikely to Occur

Loss of plant species is between 100 and 1000 times higher than the expected natural extinction rate


Quadrant IV: Low impact / Likely to Occur

pharmacognosy and standardization compared with conventional drugs

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

None


Technology

Websites cost a lot of money. I may have to use a landing page and sell on Instagram & Etsy only.


Environment

Home environment needs to be calm and peaceful


Economy

The slight recession may hurt a bit at first but my industry is on the raise


Political

None


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Complete recession


Quadrant II: High impact / Likely to Occur

Running out of funds/credit

Quadrant III: Low impact / Unlikely to Occur

Industry trends change


Quadrant IV: Low impact / Likely to Occur

Health Canada regulates Reiki practice

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Urban development could force people to not own trucks and trailers as would not be practical for urban areas.


Technology

The of new products coming out that could compete with mine or the risk of trucks and trailers not be used for transportation or hauling purposes


Environment

The push of environmentally friendly vehicles causing people to not own trucks and trailers


Economy

Recession- Non essential items will be out of alot of consumers budgets


Political

Any sorts of regulations or bans against the use of truck or trailers. recreational powersports bans could also effect


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Regulations or bans on certain vehicles or recreational powersports products


Quadrant II: High impact / Likely to Occur

Recession causing financial shortage for potential customers

Quadrant III: Low impact / Unlikely to Occur

Urban development could force people to not own trucks and trailers as would not be practical for urban areas.


Quadrant IV: Low impact / Likely to Occur

The push of enviromentally friendly vehicles would slim our market down

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Uptick Recycling across the globe


Technology

New facilities/recycling equipment (Shredders & balers)
Portals
Ease of doing business (Argus)
Built-in industry prices*


Environment

Natural disasters (Turkey)
Use of energy for manufacturing


Economy

Supply & Demand
Economic downturns
inflation – lack of production
Currency value
China & India’s new middle class and scrap metal trade networks
Transportation


Political

Wars, sanctions


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Supply & Demand


Quadrant II: High impact / Likely to Occur

Natural disasters
Supply & Demand

Quadrant III: Low impact / Unlikely to Occur

TBD


Quadrant IV: Low impact / Likely to Occur

TBD

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

People lose or gain interest


Technology

Low views on business social media


Environment

Bad weather during markets


Economy

Cost in materials increases


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

They stop producing the materials I need


Quadrant II: High impact / Likely to Occur

Bad weather during markets

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

I take a break due to a situation

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Sustainability, women’s empowerment


Technology

Try on virtual machine


Environment

More environmentally friendly options


Economy

cycles change how much people normally spend on clothes


Political

none


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

celebrity influence. Trend shift.


Quadrant II: High impact / Likely to Occur

Change in “the look” that’s trendy and considered comfy

Quadrant III: Low impact / Unlikely to Occur

change of focus from cost


Quadrant IV: Low impact / Likely to Occur

n/a

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Eating local, environmental sensitivity, heathy/organic eating, desire for inclusive/safe spaces, nerd culture continuing to spread


Technology

Uber eats, home delivery of meals, pre-prepped meals, online gaming


Environment

Growing coolness of Windsor, NS


Economy

Economic downturn


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Food shortage in North America
Loss of interest in social games


Quadrant II: High impact / Likely to Occur

Nerd culture continuing to rise/spread
Economic downturn
Families choosing to stay in/eating pre-prep meals

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

– growing population of young people in Halifax
– growing arts scene in Halifax and nationally
– student population needing cafe spaces to gather in evenings
– Health Canada new recommendation to limit weekly drinks to 2
– desire to gather in non-bar environments (dry-er)
– desire for highly inclusive and accessible environments (accessible lighting, quiet(er), financially accessible compared to other arts, radical, alternative, etc.)


Technology

– while Amazon, Indigo, and e-books dominate fiction booksales, people continue buying art books, graphic novels, etc physically because of their highly illustrative content
– online booksales are growing overall; I could expand to selling online


Environment

– Emphasis on sustainability would drive people to my business or at least make people feel comfortable shopping there


Economy

– Lack of funding for arts spaces
– Many arts workers and artists are underpaid


Political

– Health Canada new recommendation to limit weekly drinks to 2
– The Canadian Government has a grant for Canadian booksellers


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

– Health Canada new recommendation to limit weekly drinks to 2


Quadrant II: High impact / Likely to Occur

– Lack of funding for arts spaces
– Many arts workers and artists are underpaid
– The Canadian Government has a grant for Canadian booksellers
– while Amazon, Indigo, and e-books dominate fiction booksales, people continue buying art books, graphic novels, etc physically because of their highly illustrative content
– growing population of young people in Halifax
– growing arts scene in Halifax and nationally
– student population needing cafe spaces to gather in evenings

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

– Emphasis on sustainability would drive people to my business or at least make people feel comfortable shopping there

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Pandemic
Extreme Weather (Flooding, Heat Domes)


Quadrant II: High impact / Likely to Occur

Recession
Raising Interest Rates
Baby Boom

Quadrant III: Low impact / Unlikely to Occur

Declining Family size


Quadrant IV: Low impact / Likely to Occur

Supply Chain issues
Limited Staff
Shifting business to “Green”

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

pros: The internet says : Fashion trends are Bangles, Big Hoops, and the return of the 80’s. as well as a desire for personalization and self expression. Society has mass everything at its fingertips so things that are carefully, handmade, slowly and uniquely, while being ethical and locally sources are of more interest to people. Sustainability. Bold and colourful designs, pieces that are visually striking AND have a strong emotional impact. Personalization. Silver finishes, gold, pearls, Gen Z and alpha recalibrating the world. Genderless collections. punk details, pared-back religious iconography. embellishment to the point of impracticality. psychedelic, fantastical expressions of self, oversaturated with funky shapes and colours, to representations of our digital-hybrid existence coupled with underground culture and old stool grunge. thirst for nostalgia – SENSORY experience COLORS of the year are indigo and honeycomb. HOW WE USE the internet is changing – instagram tiktok,


Technology

pros: The rise of online marketplaces and social media platforms has also played a significant role in the growth of handmade jewelry making it more easily accessible for artisans to reach a global audience and sell their creations to a wider range of customers. On social media unique images and original content are going to stand out more. SEO , and UGC, example, a review, a social media post or a video created by someone who isn’t an official representative of my company.


Environment

pros: growing awareness and concern for environment has led to A growing appreciation for sustainable and ethical fashion – the use of natural and organic materials, wood, shells, metals.


Economy

pros: the pandemic temporarily eradicated superfluous accessories like jewelry. The current value of the jewelry sector sits at just under 270$ billion a projected 8.5 % growth rate that will send that number sky high to $518 by 2030 – mindset shift to savvier spending. specifically purchases that can be seen as investments in both the product and the brand itself.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

-War, governmental collapse, pandemic
– minimalism starts trending, jewelry becomes less important
-handmade becomes obsolete


Quadrant II: High impact / Likely to Occur

-growing concern for the environment leading to Preference to ethical purchases and sustainable fashion
-SEO and UGC becoming a more effective way to market on social media
-The rise of online marketplaces and social media platforms

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Focus on neighbourhood groups, perhaps.
Peer support groups, right now it is only provided free for those struggling with mental health issues/
MeetUp.com May pick up but I am offering the friendship service by telephone calling alone.


Technology

AI that respond to key words. Discord on line.


Environment

Natural disasters, lack of income. I hope to have a non profit version as one that is for profit.


Economy

I do think that people want to talk to others. However if the unemployment rate gets higher, it may impact my business.


Political

If the government had a hot line that is not for crisis, rather just for talking. It would impact my business.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

People will by curious to try this new service and so they would utilize it.


Quadrant II: High impact / Likely to Occur

Word of mouth along with advertising I expect a jump. I do also expect copycats adding completion..

Quadrant III: Low impact / Unlikely to Occur

Persons going back to work, although that may be when they want a friend to talk to as it has it’s own challenges.


Quadrant IV: Low impact / Likely to Occur

Artificial Intelligence

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

see business plan


Technology

see business plan


Environment

see business plan


Economy

Recession, people may spend less on clothing and more on essentials


Political

see business plan


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

see business plan


Quadrant II: High impact / Likely to Occur

see business plan

Quadrant III: Low impact / Unlikely to Occur

see business plan


Quadrant IV: Low impact / Likely to Occur

see business plan

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The social factors that can affect the dog training services market include the attitudes and beliefs of consumers, as well as the prevalence of pet ownership in society. Pet ownership is becoming increasingly popular, leading to an increase in demand for dog training services. Additionally, consumers are becoming more aware of the benefits of pet ownership, enrichment, training, health and well being which is leading to an increase in demand for services.


Technology

The technological factors that can affect the dog training services market include advances in technology, as well as the availability of digital resources. For example, advances in technology can lead to more efficient and effective methods of training, as well as the availability of digital resources, such as online courses and videos. Additionally, the availability of these resources can make it easier and more convenient for consumers to access services.


Environment

The environmental factors that can affect the dog training services market include the availability of outdoor spaces, as well as the prevalence of pet-friendly businesses. For example, if there are fewer outdoor spaces available for dog training, this could lead to a decrease in demand for services. Additionally, if there are more pet-friendly businesses in an area, this could lead to an increase in demand for services.


Economy

The economic factors that can affect the dog training services market include the overall economic condition of the country, the cost of living, and the availability of resources. In a strong economy, there may be more demand for services, while in a weak economy, there may be less demand. Additionally, the cost of living can affect the cost of services, as well as the availability of resources, such as supplies and equipment.


Political

The political factors that can affect the dog training services market include government regulations and policies, tax laws, and trade restrictions. For example, the government may impose specific regulations on pet-related businesses, such as requiring businesses to be insured and licensed. Additionally, tax laws can affect the profitability of a business, as well as the costs of services offered.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Reduction in pet ownership
Reduction in spending on pets
Switch to more harsh pet regulations in terms of public access and travel.


Quadrant II: High impact / Likely to Occur

Increase in pet ownership
Increase in spending on pets
Increase in knowledge and desire to meet pets needs and have well behaved take anywhere pets

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

New regulations on pet training professionals/licensing & insurance
Shifts in how pets parents access and consume information and services

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Increasing demand for eco-friendly and sustainable products: As mentioned earlier, there is a growing trend towards environmentally-friendly and sustainable products, including candles. Beeswax candles are often marketed as a natural and sustainable alternative to traditional paraffin wax candles.

Growing interest in wellness and self-care: Consumers are increasingly interested in wellness and self-care, and candles can play a role in promoting relaxation and a sense of calm. Beeswax candles are often marketed as natural and soothing, which can appeal to consumers looking for wellness products.

Increased interest in supporting small businesses: There is a growing trend in Canada of consumers seeking out and supporting small businesses, particularly those that are locally-owned and operated. This trend can create opportunities for small-scale beeswax candle producers who can market their products as unique and locally-sourced.

Growing preference for artisanal and handmade products: Consumers are becoming more interested in products that are artisanal and handmade, as opposed to mass-produced items. This trend can benefit beeswax candle businesses that can offer unique and handmade products.

Influence of social media and online platforms: Social media and online platforms have become important tools for marketing and selling products, including beeswax candles. Businesses that have a strong online presence and are able to effectively use social media to promote their products may have a competitive advantage.

Increasing demand for eco-friendly and sustainable products: As mentioned earlier, there is a growing trend towards environmentally-friendly and sustainable products, including candles. Beeswax candles are often marketed as a natural and sustainable alternative to traditional paraffin wax candles.


Technology

Increased use of e-commerce and online sales: The growth of e-commerce and online sales has been accelerated by the COVID-19 pandemic, and this trend is likely to continue in the future. Beeswax candle businesses that have a strong online presence and are able to offer easy and convenient online ordering may have a competitive advantage.

Advancements in digital marketing: Digital marketing is becoming increasingly sophisticated, and businesses that are able to effectively use digital marketing techniques such as targeted advertising and search engine optimization (SEO) may have a competitive advantage.

Advancements in packaging technology: There have been recent advancements in eco-friendly and sustainable packaging materials, which can be used for beeswax candles. Businesses that are able to offer eco-friendly and sustainable packaging options may be able to attract environmentally-conscious consumers.

Adoption of automation technology: Automation technology can be used in beeswax candle production to increase efficiency and reduce costs. For example, automated systems can be used to melt and pour beeswax, which can save time and labor costs.


Environment

Increasing demand for eco-friendly and sustainable products: As mentioned earlier, there is a growing trend towards environmentally-friendly and sustainable products, including candles. Beeswax candles are often marketed as a natural and sustainable alternative to traditional paraffin wax candles.

Growing concern for environmental sustainability: Consumers are increasingly concerned about the environmental impact of the products they purchase, including candles. Beeswax candles are a natural and sustainable alternative to paraffin wax candles, which are made from non-renewable petroleum-based sources.

Increased demand for organic and non-toxic products: The use of pesticides and chemicals in agriculture has been linked to declining honeybee populations, which can impact the availability and price of beeswax. Consumers are also becoming more aware of the potential health risks associated with exposure to toxic chemicals, which can drive demand for non-toxic and organic beeswax candles.

Impact of climate change on honeybee populations: Climate change can have a significant impact on honeybee populations, which can impact the availability and price of beeswax. Changes in temperature, precipitation patterns, and the availability of food sources can all affect honeybee health and productivity.

Growing interest in supporting local and sustainable agriculture: Many consumers are interested in supporting local and sustainable agriculture, including beekeeping. This can create opportunities for domestic beeswax candle producers who can market their products as locally-sourced and environmentally-friendly.


Economy

Increased demand for natural and sustainable products: There is a growing trend among consumers in Canada towards natural and sustainable products, including candles. Beeswax candles are a popular choice among consumers looking for eco-friendly alternatives to traditional paraffin wax candles.

Rising cost of raw materials: The cost of beeswax, which is the primary raw material used in beeswax candle production, has been increasing in recent years. This is due to various factors, such as the decline in honeybee populations and the competition for beeswax from other industries, such as cosmetics and pharmaceuticals.


Political

Government regulations and policies: Beeswax candle businesses in Canada may be impacted by government regulations and policies related to environmental protection, product labeling, and consumer safety. For example, there may be regulations around the use of certain fragrances or dyes in candles, or requirements for labeling beeswax candles as natural or eco-friendly.

Government support and funding: The Canadian government may offer support and funding opportunities for small businesses, including those in the beeswax candle industry. Businesses that are able to access government support may have a competitive advantage.

Public opinion and activism: Public opinion and activism can have an impact on government policies and regulations related to environmental protection and consumer safety. For example, if there is a growing public concern about the use of certain ingredients in candles, it could lead to increased regulation or restrictions on those ingredients.

Tax policies and incentives: Tax policies and incentives may impact beeswax candle businesses in Canada. For example, if there are tax incentives for businesses that use eco-friendly or sustainable materials in their products, it could benefit businesses that offer natural and sustainable beeswax candles.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

regulations around the use of certain fragrances or dyes in candles.

climate change making bee keeping not possible in southern Ontario.

Bylaws that allow urban farming and bee keeping.


Quadrant II: High impact / Likely to Occur

Growing concern for environmental sustainability

requirements for labeling beeswax candles as natural or eco-friendly

increased govt funding oppt for small businesses

public concern regarding certain ingredients in candles

tax incentives for eco friendly businesses

Increasing demand for eco-friendly and sustainable products

demand for local and small business increases.

Quadrant III: Low impact / Unlikely to Occur

self care and wellness trends slow down


Quadrant IV: Low impact / Likely to Occur

Rising cost of raw materials

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Recent attacks on TTC heightening the need for addictions services in Toronto/province.
Post-COVID mental health
Societal stressors


Technology

online/virtual meetings (zoom, teams, etc)
cell phones


Environment

Urban areas where there is increased drug use and addiction


Economy

Funding needed for these resources


Political

lack of resources for mental health and addictions services


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

OHIP billing extends to counsellors


Quadrant II: High impact / Likely to Occur

Public awareness on mental health and addiction needs in the city are increased

Quadrant III: Low impact / Unlikely to Occur

Government releases increased funding and eliminates all wait times for addictions services province-wide


Quadrant IV: Low impact / Likely to Occur

Wait times for OHIP covered mental health services are reduced

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Scary: Misleading or inaccurate reporting, including inaccuracy, incompleteness and questionable re-categorization. Fraud and tax evasion. Lack of transparency in accounting decisions. Breaches of confidentiality therefore people might lose trust and therefore makes it harder to retain new clients.

Safe: Small businesses are the heart of Canada especially Toronto so I think the social trends in terms of opening up small businesses are safe.


Technology

Emerging accounting technologies include AI, automation, cloud computing, and blockchain. Cloud accounting has pushed more people to work from home and small businesses are more accepting of this as they in theory save money by hiring a contractor vs an employee.


Environment

It’s been forecasted that a more eco-friendly and sustainable accounting/bookkeeping firm will be in demand. I have already adapted this into my marketing.


Economy

It’s important to specialize in a variety of industries for bookkeeping in the event that we have an economic downturn the business won’t go under.


Political

None


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Political issues
Another pandemic
Closure of many small businesses


Quadrant II: High impact / Likely to Occur

Software
Cybersecurity
Economic downturn if I don’t continue to educate myself in various bookkeeping industries
Baby Boomers are retiring therefore job market is seeking younger generations of bookkeepers
Recession
Eco-friendly practice

Quadrant III: Low impact / Unlikely to Occur

Bookkeepers/organizations that have not adapted into the cloud and continue to work on desktop
*This would be an issue for older generations on bookkeepers and business owners


Quadrant IV: Low impact / Likely to Occur

Economic downturn if I continue to educate myself in various bookkeeping industries

More highly qualified bookkeepers lead for more competition (if I’m educated in a variety of industries, especially advanced ones this won’t hurt my business) Mirco niche within an industry

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Health and Fitness Consciousness: There’s a growing trend towards leading healthier lifestyles, and boxing is seen as a high-intensity, full-body workout. As more people aim to improve their fitness, the demand for boxing gear and apparel could increase.

Rise in Women’s Boxing: Boxing, traditionally a male-dominated sport, is seeing a rise in female participation. This trend could lead to a growing demand for women-specific boxing gear and apparel.

Sustainability Awareness: As society becomes more environmentally conscious, customers are increasingly looking for products that are sustainable and eco-friendly. This could influence boxing gear manufacturers to shift towards more sustainable materials and production processes.

Virtual Fitness: With advancements in technology and the impact of the COVID-19 pandemic, virtual fitness classes are on the rise. This shift could lead to an increased demand for home boxing gear.

Influence of Social Media: Social media has a profound impact on societal trends. Influencers promoting boxing workouts or showcasing boxing gear can significantly impact demand.

Conscious Consumerism: Consumers are increasingly concerned about the ethics of the companies they buy from. Issues like fair labor practices, sustainable sourcing, and community involvement can influence purchasing decisions.

Personalization Trend: Consumers are increasingly seeking personalized products that cater to their specific needs and preferences. This can affect product development and marketing strategies in the boxing gear industry.


Technology

Wearable Technology: The integration of technology into sporting equipment is a growing trend. This could include smart boxing gloves equipped with sensors that monitor performance metrics such as punch speed and force, providing users with valuable feedback on their technique.

E-commerce Innovations: Advancements in e-commerce technology, like augmented reality (AR), can allow customers to virtually “try on” boxing gear before making a purchase, improving the online shopping experience.

Artificial Intelligence (AI) and Machine Learning: These technologies can help with everything from predicting consumer buying behavior to providing personalized marketing messages, improving inventory management, and optimizing supply chains.

3D Printing: This technology could revolutionize the production of boxing gear, allowing for rapid prototyping and the possibility of highly customized equipment.

Sustainable Technologies: As the demand for more sustainable products grows, technologies that enable the use of recycled materials or reduce the environmental impact of manufacturing processes could become increasingly important.

Internet of Things (IoT): IoT devices can collect and analyze data from various points, such as the supply chain, customer usage, etc. This can provide valuable insights to improve products, operations, and customer experiences.

Virtual and Augmented Reality (VR/AR): These technologies can provide innovative ways for boxers to train. For instance, VR could simulate a boxing match, allowing boxers to practice in a realistic, yet risk-free environment.


Environment

Sustainability and Eco-Friendliness: As awareness about environmental issues grows, consumers are increasingly seeking out sustainable and eco-friendly products. This trend could drive a shift towards more sustainable materials, manufacturing processes, and packaging in the boxing gear industry.

Climate Change: Changes in climate and weather patterns can impact the availability and cost of raw materials, as well as logistics and supply chain operations. For instance, extreme weather events could disrupt the production or transport of goods.

Regulations and Policies: Governments around the world are implementing stricter environmental regulations to combat climate change. These could affect various aspects of your business, from the materials you use to the way you manufacture your products and dispose of waste.

Waste Management: There’s a growing focus on reducing waste and promoting recycling and circular economy principles. This could lead to changes in how products are designed (for ease of recycling or disassembly) and how end-of-life products are handled.

Energy Efficiency: With the increasing focus on reducing carbon footprints, there is a trend towards more energy-efficient manufacturing processes. This could influence the types of machinery and equipment used in production.

Water Usage: Water scarcity is becoming a significant issue in many parts of the world, which could impact industries that rely heavily on water in their manufacturing processes. While this may not directly impact the boxing gear and apparel industry, it could affect the supply chains of these businesses.


Economy

Global Economic Health: Changes in the global economy can influence consumer spending power, which in turn affects demand for boxing gear. For instance, economic downturns often lead to reduced spending on non-essential items, while periods of economic growth can boost sales.

Shifts in Consumer Spending: Changes in how consumers allocate their disposable income can affect the industry. For example, a growing focus on health and wellness has led to increased spending on fitness-related products and activities.

Currency Fluctuations: For companies that operate internationally, changes in currency exchange rates can impact the cost of raw materials, manufacturing, and pricing strategies, which in turn can affect profitability.

Inflation and Interest Rates: High inflation or interest rates can impact consumers’ purchasing power and willingness to spend, potentially leading to decreased demand for products.

E-commerce Growth: The steady rise of online shopping is reshaping retail. E-commerce allows businesses to reach a wider audience, but also brings increased competition and the need to manage logistics effectively.

Trade Policies: Changes in trade agreements, tariffs, or import/export regulations can impact costs and supply chains. This is particularly relevant for companies that source materials or sell products internationally.

Rising Labor Costs: In many regions, labor costs are rising due to increases in minimum wage laws or shortages of skilled workers. This can impact the cost of manufacturing.


Political

Trade Agreements: Canada’s involvement in trade agreements such as the United States-Mexico-Canada Agreement (USMCA) or Comprehensive Economic and Trade Agreement (CETA) with the EU can impact trade tariffs and regulations, affecting the costs and logistics of importing/exporting goods and materials.

Regulatory Changes: Changes in Canadian laws and regulations related to sports equipment safety, manufacturing standards, labor rights, or environmental impact can affect your business operations.

Government Spending on Sports and Fitness: If the Canadian government decides to invest more in sports and fitness initiatives, this could potentially increase demand for boxing gear and apparel.

Political Stability: Canada’s political stability generally provides a reliable and predictable business environment. However, shifts in the political landscape could bring changes in business regulations, taxes, or trade policies.

Indigenous Rights and Land Claims: These ongoing issues could affect businesses in Canada, especially in terms of land use and natural resource extraction, which might indirectly impact your supply chain if it involves locally sourced materials.

Climate Policies: The Canadian government’s policies on climate change and environmental preservation could impact manufacturing processes, particularly in terms of energy use and emissions.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Drastic Regulatory Changes: Sudden, stringent changes in safety standards or environmental regulations affecting boxing gear manufacturing.

Severe Global Economic Downturn: A deep and prolonged economic recession that significantly decreases consumers’ disposable income and ability to purchase sports gear.

Outright Ban on Boxing: Due to concerns over safety and health risks, a complete ban on boxing might be imposed, drastically reducing demand for boxing gear.

Rapid Technological Advances: Unexpected technological breakthroughs in sporting equipment, such as virtual reality replacing the need for physical boxing gear.

Massive Shift to Alternative Sports: A sudden and massive shift in consumer interest from boxing to other sports, resulting in a sharp drop in demand for boxing gear.

Unexpected Trade Restrictions: Unforeseen trade barriers or tariffs that significantly increase the cost of imported raw materials or finished products.


Quadrant II: High impact / Likely to Occur

Increase in Health and Fitness Consciousness: A continued rise in individuals prioritizing fitness and health could boost demand for boxing gear as boxing is a high-intensity, full-body workout.

Growth of E-commerce: The ongoing shift towards online shopping is expected to continue, making a strong online presence and e-commerce capabilities increasingly important.

Sustainability Awareness: Growing consumer demand for sustainable and eco-friendly products could necessitate shifts in materials and production processes.

Continued Technological Innovation: Continued advancements in wearable tech and smart equipment could change customer expectations and product offerings in the boxing gear industry.

Rise in Women’s Boxing: As societal norms evolve, increasing participation of women in boxing could lead to a growing demand for women-specific boxing gear.

Influencer Marketing: The power of social media influencers is likely to continue growing, making collaborations and partnerships with these influencers increasingly important for marketing.

Greater Focus on Mental Health: As society becomes more open about mental health, sports like boxing that help reduce stress and improve mental wellbeing could see a rise in popularity.

Quadrant III: Low impact / Unlikely to Occur

Abolishment of Physical Currency: While society is moving towards digital payments, the complete elimination of physical currency is unlikely and would have a minimal impact on a boxing gear business.

Extreme Climate Events in Canada: While climate change is a significant issue, extreme events like hurricanes or tsunamis are rare in Canada and would likely have a limited direct impact on your business operations.

Virtual Reality (VR) Replacing Physical Sports: While VR technology is advancing, the complete replacement of physical sports like boxing with VR simulations is highly unlikely and would not significantly impact demand for physical boxing gear.

Mandatory Military Service in Canada: While some countries have mandatory military service, it is unlikely to be implemented in Canada. If it were, it would likely have a minimal impact on demand for boxing gear.

Invasion of Privacy Laws: Unlikely changes to privacy laws that restrict marketing activities would have low impact due to existing alternative marketing channels.


Quadrant IV: Low impact / Likely to Occur

Shifts in Fashion Trends: While fashion trends might affect sports apparel to some extent, the impact on boxing gear, which is primarily designed for function and safety, is likely to be minimal.

Rising Popularity of Other Sports: The increasing popularity of other sports, like e-sports or pickleball, might slightly divert consumer interest, but the core audience for boxing gear is likely to remain.

Changes in Social Media Algorithms: Regular changes to social media algorithms can impact the visibility of your posts, but with a well-rounded marketing strategy, this would have a low impact.

Minor Fluctuations in Foreign Exchange Rates: While drastic changes could impact costs, minor fluctuations in the Canadian dollar’s value are a normal part of doing business and likely to have a low impact.

Incremental Advancements in Tech Hardware: Regular, incremental updates to smartphones and computers may require occasional updates to your website or app but are unlikely to dramatically affect your business model.

Modest Changes in Interest Rates: Unless your business is heavily reliant on borrowed capital, modest changes in interest rates should have a low impact.

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

reviews and ratings


Technology

the internet and the connectivity it brings


Environment

more environmentally friendly products are more desirable


Economy

more people will be able to afford my service


Political

low amounts of red tape


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

the internet shuts down


Quadrant II: High impact / Likely to Occur

my business get popular on google

Quadrant III: Low impact / Unlikely to Occur

prices of chemicals go up


Quadrant IV: Low impact / Likely to Occur

monthly fees for quickbooks and supply replenishment

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

Social media going down


Quadrant II: High impact / Likely to Occur

Inflation increase/cost of living

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

No one wanting miniatures anymore

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Economy


Technology

None


Environment

None


Economy

Inflation


Political

None


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

None


Quadrant II: High impact / Likely to Occur

Quadrant III: Low impact / Unlikely to Occur


Quadrant IV: Low impact / Likely to Occur

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

The general increase in poverty and homelessness could affect my business. The area where I want to be located is low-income. I expect there could be a significant number of community members who would like to buy coffee and spend time in the cafe. I am not opposed to this, in general. I would likely have some kind of a program where patrons can leave a few extra dollars to buy coffee for community members. I wonder if people would be likely to want to spend all day in my cafe and how I would handle this.


Technology

I don’t think this would affect my business too much. I would definitely have to have to latest POS system available to make it easy for my customers to pay in a variety of ways. I would also like to have wifi available for customers to use.


Environment

The use of paper cups is the main environmental impact that my business could have. I would have to source cups that are made of recycled material. I would also have to have ceramic mugs available for customers to use if they decide to stay in the cafe, and I would need to find the best method for washing them that would use the least amount of water.


Economy

As inflation increases, things get more expensive. Ideally my coffee would not be overly priced. I would stick to brewed coffee, and not have an espresso machine. I would strive to have the best brewed coffee at a reasonable price so I can compete with any cafe.


Political

My business would probably be a hub for political discussions in the community, and I welcome this. My neighbourhood is very pro-community and is represented by progressive politicians at the provincial and federal level. Part of the reason for me wanting to start a cafe in the area is to foster community among the people who live there.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

My business could become some kind of a day shelter if I do not implement time limits on how long people can stay.


Quadrant II: High impact / Likely to Occur

Rent would increase to something that I cannot afford.

Quadrant III: Low impact / Unlikely to Occur

Theft, vandalism, slow start.


Quadrant IV: Low impact / Likely to Occur

Staffing

STEEP Analysis

You were asked to identify and define relevant trends in the area your business falls into that are caused by changes in Society, Technology, Environment, Economy, and Politics (STEEP). Here is what you identified.

Trend Research

Society

Some of the societal trends that may impact basketball business are:

– The use of big data and analytics, which is changing basketball management and the game itself. According to one source, big data can help basketball teams improve their performance, scouting, coaching, and decision-making by using statistics and predictive modeling¹. Big data can also enhance the fan experience by providing personalized and interactive content, such as stats, highlights, and insights.
– The digital transformation and innovation, which is creating new opportunities and challenges for the basketball industry. According to another source, digital platforms are emerging as the new engine for growth, as they can offer more access, choice, and convenience for fans and consumers². Digital platforms can also generate more revenue and engagement for the basketball industry, but they can also pose risks such as piracy, cyberattacks, and competition.
– The social responsibility and sustainability, which is becoming more important and expected for the basketball industry. According to a third source, the basketball industry is facing more pressure and demand from its stakeholders to address social and environmental issues, such as diversity, inclusion, health, safety, and climate change³. The basketball industry can leverage its influence and resources to make a positive impact on society and the planet, but it can also face criticism and backlash if it fails to do so.

These are some of the societal trends that may impact basketball business that show its potential and challenges. Do you have any other questions about this topic?

Source: Conversation with Bing, 2023-09-09
(1) Five Key Trends That Are Driving the Business of Sports. https://www.gsb.stanford.edu/insights/five-key-trends-are-driving-business-sports.
(2) Digital Transformation and Future Changes in the Sports Industry. https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/digital-transformation-and-future-changes-in-sports-industry.html.
(3) 2023 Sports Industry Outlook | Deloitte US. https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/sports-business-trends-disruption.html.


Technology

Some of the technological trends that may impact basketball business are:

– The use of wearable technology, which is enhancing the performance and health of basketball players. According to one source, wearable technology can help basketball players monitor their vital signs, track their movements, optimize their training, and prevent injuries¹. Wearable technology can also provide valuable data and feedback for coaches and analysts to improve their strategies and tactics.
– The use of virtual and augmented reality, which is creating new ways of learning and enjoying basketball. According to another source, virtual reality (VR) and augmented reality (AR) technologies can help basketball players improve their skills, simulate game scenarios, and experience different environments¹. VR and AR technologies can also offer immersive and interactive experiences for fans and consumers, such as watching games from different perspectives, playing games with their favorite players, and accessing exclusive content.
– The use of smart courts and cameras, which is revolutionizing the way basketball is played and watched. According to a third source, smart courts and cameras can provide more detail and accuracy in data and analysis than ever before, such as shot tracking, player tracking, ball tracking, and game statistics¹. Smart courts and cameras can also enhance the fan experience by providing personalized and interactive content, such as stats, highlights, and insights.

These are some of the technological trends that may impact basketball business that show its innovation and growth. Do you have any other questions about this topic?

Source: Conversation with Bing, 2023-09-09
(1) How Technology Is Creating And Changing Trends In Basketball. https://spectacularmag.com/2023/03/02/how-technology-is-creating-and-changing-trends-in-basketball/.
(2) How Technology has Influenced Basketball? – Tech Entice. https://www.techentice.com/how-technology-has-influenced-basketball/.
(3) Digital Transformation and Future Changes in the Sports Industry. https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/digital-transformation-and-future-changes-in-sports-industry.html.
(4) Five Key Trends That Are Driving the Business of Sports. https://www.gsb.stanford.edu/insights/five-key-trends-are-driving-business-sports.


Environment

Some of the environmental trends that may impact basketball business are:

– The production and consumption of basketballs, which can generate wastes and emissions that can harm the environment. According to one source, the manufacturing of a basketball involves the use of materials such as rubber, leather, synthetic fibers, and glue, which can produce wastes such as scraps, dust, and solvents¹. The consumption of basketballs also involves the use of energy and resources, such as transportation, packaging, and disposal, which can emit greenhouse gases and pollutants¹.
– The climate change and extreme weather events, which can affect the availability and quality of basketball facilities and events. According to another source, climate change can cause changes in temperature, precipitation, sea level, and natural disasters, which can impact the outdoor and indoor basketball courts, arenas, stadiums, and venues². Climate change can also disrupt the scheduling and planning of basketball games, tournaments, and seasons².
– The social and environmental responsibility and awareness, which can influence the reputation and performance of the basketball industry. According to a third source, the basketball industry is facing more pressure and demand from its stakeholders to address social and environmental issues, such as diversity, inclusion, health, safety, and climate change³. The basketball industry can leverage its influence and resources to make a positive impact on society and the planet, but it can also face criticism and backlash if it fails to do so³.

These are some of the environmental trends that may impact basketball business that show its challenges and opportunities. Do you have any other questions about this topic?

Source: Conversation with Bing, 2023-09-09
(1) Environmental and Social Impacts of NBA Basketball – UK Essays. https://www.ukessays.com/essays/sports/environmental-and-social-impacts-of-nba-basketball.php.
(2) Five Key Trends That Are Driving the Business of Sports. https://www.gsb.stanford.edu/insights/five-key-trends-are-driving-business-sports.
(3) State of the sporting goods industry 2021 | McKinsey. https://www.mckinsey.com/industries/retail/our-insights/sporting-goods-2021-the-next-normal-for-an-industry-in-flux.
(4) NBA Green – NBA Cares. https://cares.nba.com/programs/nba-green/.


Economy

Some of the economical trends that may impact basketball business are:

– The growth and transformation of the sports industry, which is creating new opportunities and challenges for the basketball industry. According to one source, the sports industry is expected to grow by 6% annually from 2021 to 2025, reaching $614.1 billion in revenue by 2025². The sports industry is also undergoing a digital transformation, which is changing the way sports are consumed, delivered, and monetized³.
– The rise of smart arenas, which is enhancing the fan experience and generating more revenue for the basketball industry. According to another source, smart arenas are using mobile technology to offer more access, choice, and convenience for fans and consumers, such as mobile ticketing, ordering, payment, and rewards¹. Smart arenas are also using data and analytics to optimize their operations, marketing, and pricing¹.
– The impact of COVID-19 pandemic, which is disrupting the basketball industry and forcing it to adapt and innovate. According to a third source, COVID-19 pandemic has caused significant losses and uncertainties for the basketball industry, such as reduced attendance, revenue, and sponsorship³. COVID-19 pandemic has also accelerated some trends and changes in the basketball industry, such as digitalization, diversification, and social responsibility³.

These are some of the economical trends that may impact basketball business that show its potential and resilience. Do you have any other questions about this topic?

Source: Conversation with Bing, 2023-09-09
(1) State of the sporting goods industry 2021 | McKinsey. https://www.mckinsey.com/industries/retail/our-insights/sporting-goods-2021-the-next-normal-for-an-industry-in-flux.
(2) 2023 Sports Industry Outlook | Deloitte US. https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/sports-business-trends-disruption.html.
(3) Five Key Trends That Are Driving the Business of Sports. https://www.gsb.stanford.edu/insights/five-key-trends-are-driving-business-sports.


Political

Some of the political trends that may impact basketball business are:

– The globalization and expansion of the basketball industry, which is creating new markets and opportunities for the basketball industry. According to one source, the basketball industry is reaching more fans and consumers around the world, especially in emerging regions such as Asia, Africa, and Latin America¹. The basketball industry is also developing more partnerships and collaborations with international organizations, leagues, and teams¹.
– The political and ethical challenges of operating in different countries and regions, which can affect the reputation and performance of the basketball industry. According to another source, the basketball industry is facing some political and ethical dilemmas when expanding overseas, such as human rights, censorship, and cultural differences². The basketball industry can encounter some conflicts and controversies with its stakeholders, such as governments, media, sponsors, and fans².
– The impact of COVID-19 pandemic, which is influencing the policies and regulations of the basketball industry. According to a third source, COVID-19 pandemic has imposed some restrictions and measures on the basketball industry, such as travel bans, lockdowns, quarantines, and testing³. COVID-19 pandemic has also prompted some changes and adaptations in the basketball industry, such as health protocols, safety guidelines, and social distancing³.

These are some of the political trends that may impact basketball business that show its complexity and diversity. Do you have any other questions about this topic?

Source: Conversation with Bing, 2023-09-09
(1) Five Key Trends That Are Driving the Business of Sports. https://www.gsb.stanford.edu/insights/five-key-trends-are-driving-business-sports.
(2) NBA Faces Ethical Challenges Expanding Overseas – Global Sport Matters. https://globalsportmatters.com/business/2021/08/17/growing-pains-nba-ethical-challenges-overseas-expansion/.
(3) State of the sporting goods industry 2021 | McKinsey. https://www.mckinsey.com/industries/retail/our-insights/sporting-goods-2021-the-next-normal-for-an-industry-in-flux.


Trend Evaluation

You evaluated trends in your business area to determine which trends are highly likely to happen and that would have the most impact on your business. Here are your findings.

Trend Evaluation

Quadrant I: High impact / Unlikely to Occur

That’s a very interesting question. I think some of the basketball trends that would have a high impact on your business plan and are unlikely to occur are:

– A major scandal or crisis involving the basketball industry, such as corruption, doping, or violence, that would damage its credibility and popularity among fans and consumers.
– A significant decline or shift in the demand or preference for basketball products or services, such as apparel, equipment, or media, that would affect its revenue and profitability.
– A radical innovation or disruption in the basketball industry, such as new technologies, formats, or rules, that would change the way basketball is played, watched, and enjoyed.

These are some of the basketball trends that would have a high impact on your business plan and are unlikely to occur that show its risks and opportunities. Do you have any other questions about this topic?


Quadrant II: High impact / Likely to Occur

Some of the basketball trends that would have a high impact on your business plan and are likely to occur are:

– The evolution and innovation of the basketball industry, which is creating new products and services for the basketball industry. According to one source, the basketball industry is expected to introduce some rule changes for the 2023–24 season, such as reducing the shot clock to 30 seconds, allowing coaches to call live-ball timeouts, and expanding the restricted area under the basket². According to another source, the basketball industry is also expected to offer new sportswear products for the market, such as customized jerseys, shoes, and accessories³.
– The growth and transformation of the basketball industry, which is creating new markets and opportunities for the basketball industry. According to a third source, the sports industry is expected to grow by 6% annually from 2021 to 2025, reaching $614.1 billion in revenue by 2025⁴. The sports industry is also undergoing a digital transformation, which is changing the way sports are consumed, delivered, and monetized⁴.
– The competition and performance of the basketball industry, which is creating new challenges and rewards for the basketball industry. According to a fourth source, the basketball industry is expected to see some changes in its ranking and scoring records, such as LeBron James surpassing Kareem Abdul-Jabbar as the NBA’s all-time leading scorer, Gonzaga winning its first NCAA men’s college basketball championship, and Luka Doncic becoming the NBA MVP⁵. According to a fifth source, the basketball industry is also expected to see some changes in its betting and fantasy trends, such as more online and mobile platforms, more data and analytics tools, and more diverse and inclusive options⁶.

These are some of the basketball trends that would have a high impact on your business plan and are likely to occur that show its potential and dynamism. Do you have any other questions about this topic?

Source: Conversation with Bing, 2023-09-09
(1) 2023–24 NCAA Division I men’s basketball season – Wikipedia. https://bing.com/search?q=basketball+trends+2023.
(2) Basketball Sportswear Market Forecast Report 2023-2030. https://www.benzinga.com/pressreleases/23/09/34387429/basketball-sportswear-market-forecast-report-2023-2030.
(3) 2023 Sports Industry Outlook | Deloitte US. https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/sports-business-trends-disruption.html.
(4) Basketball – Statistics & Facts | Statista. https://www.statista.com/topics/3241/basketball/.
(5) Fantasy basketball: Top draft trends, strategies for 2022-23. https://www.espn.com/fantasy/basketball/story/_/id/34793738/fantasy-basketball-top-draft-strategies-trends-2022-23-nba-season.
(6) NBA Basketball Betting Trends – September, 2023 – Odds Shark. https://www.oddsshark.com/nba/trends.

Quadrant III: Low impact / Unlikely to Occur

Another interesting question. I think some of the basketball trends that would have a low impact on your business plan and are unlikely to occur are:

– A minor change or variation in the basketball industry, such as new designs, colors, or logos, that would not affect its quality or functionality.
– A temporary increase or decrease in the supply or availability of basketball products or services, such as due to seasonal factors, weather conditions, or inventory issues, that would not affect its long-term performance.
– A marginal improvement or decline in the basketball industry, such as new records, awards, or rankings, that would not affect its overall competitiveness or attractiveness.

These are some of the basketball trends that would have a low impact on your business plan and are unlikely to occur that show its stability and adaptability. Do you have any other questions about this topic?


Quadrant IV: Low impact / Likely to Occur

One more interesting question. I think some of the basketball trends that would have a low impact on your business plan and are likely to occur are:

– A regular update or maintenance of the basketball industry, such as new schedules, venues, or sponsors, that would not affect its core value or function.
– A normal fluctuation or variation of the basketball industry, such as new injuries, trades, or retirements, that would not affect its long-term trend or direction.
– A moderate enhancement or deterioration of the basketball industry, such as new skills, strategies, or styles, that would not affect its overall quality or attractiveness.

These are some of the basketball trends that would have a low impact on your business plan and are likely to occur that show its continuity and diversity. Do you have any other questions about this topic?

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