Macro Trends Analysis/idea Generation

1140 words, 5 pages

Intro Sample...


An area in business and startups that interests me at the moment is this idea of “deals” and how consumers react to deals in the market place. This coupled with demand and profit maximization struggles in the retail, food, and beverage industry has led me to research a few macro trends that has led to my idea. The macro trends that I would like to discuss today are that of consumerism in the retail space and consumer behavior in general and how it affects business.
The subprime crisis of 2007-2008/2009 was devastating in that there was a huge loss of consumer demand in the economy. Many businesses are cyclical by nature, so we can compare this economic downturn to a similar point in the past. An interesting chart that I... View More »

Body Sample...

5 Online coupons and deals are even sited as the most influential source of purchasing decisions (one study noted that 68% purchased due to deals).6 With this study in mind we can see the need for deals to attract and convince individuals to purchase products/services. What’s more important is the need for a business to attract new business/customers.7 Deals seem to be the best way to do this.
With economic trends and consumer behaviors in mind I started to build the basis to my idea. My idea takes into account that there will be good and bad times for a business whether its monthly like our second economic chart suggests or even on a daily basis based on weather conditions, tax fluctuations, etc. We can also take into account that it is hard for businesses to attract new customers without offering some sort of incentive or deal. My idea combines these two principles in order to help businesses maximize profit, reduce waste, and better market themselves all at the same.
My idea is an application that allows businesses to post “flash” deals on a need basis. For example, if a coffee shop is usually bustling on a Friday but because it was really hot out it was empty on a certain Friday, they can post an offer for 50% coffee for the next 100 customers. Or if a bakery has way too many pastries left at the end of the day that will spoil they can post a “70% of all pastries until closing time”. This will allow businesses to have a marketing tool on the fly to help gain new customers and draw exiting customers into the shop even if they hadn’t planned on doing so that day. It ...

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