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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’


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


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 (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

Quadrant III: Low impact / Unlikely to Occur


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

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