Premium Essay

Trends in Consumptions

In: Business and Management

Submitted By tneesieb
Words 1212
Pages 5
Trends In Consumption Patterns Paper


Tonue D. Sargent

ECO/365 - Principles of Microeconomics
January 14, 2013
Dr. Peggy Douglas– Instructor

For trends in consumption patterns one must anticipate what the consumer is going to purchase. It is the law if supply and demand. When a product is made for people that they feel as though they cannot live without in the mass market, everyone will want it and therefore you have a high demand for it. Look at the coffee shop industry and the coffee business. The market for specialty coffees has become very popular since consumers are more knowledgeable of espresso drinks and how they are made. This paper will explore the basis for these trends in consumption patterns, to include the effectiveness resulting from coffee, changes in demand, market prices and the elasticity of demand for coffee. The paper will also define economics, the law of demand and supply, and discuss factors that can lead to a change in supply and demand.

Each year, the National Coffee Association of the USA publishes a report on National Coffee Drinking Trends. This report is known one of the bibles of the coffee industry. According to First Research coffee shops businesses grew to 20,000 shops in the U.S. having combined revenue of $10 billion as reported in 2011. Over half of the adult population drinks coffee at some point. It is known that 66 percent of Americans buy their coffee outside of the home but more than 75 percent of the cups that are brewed daily are consumed at home. One very important thing that is known about Americans and that is we like our coffee.

The 2012 statistics for the coffee drinker is that according to the latest National Coffee Drinking Study from the National Coffee Association at least 40 percent of age’s 18-24 drink coffee every. This is…...

Similar Documents

Premium Essay


...need to allocate more water to satisfy global energy demand – which is expected to rise 60 per cent over the coming 30 years – and to generate electricity for the 1.3 billion people currently without it. The answer is not simple and has many facets. We can focus our attention on the production and supply, looking at how we can cope with the increasing stress on our water resources, their variability and the impact of climate change; we can look at the demand to see how good demand management can increase water and energy efficiency in food production, including getting “more crop per drop”; and we can look at the entire chain from “field to fork” and see how to reduce the 30-50 per cent of food that is lost and wasted from harvest to consumption. This is a troubling statistic: with all our efforts to improve efficiency, increase yields and raise production in the field we sacrifice half of it in avoidable losses in the early part of the food chain, and wastage in the latter. The bad news is that we are wasteful; the good news is that means if we reduce waste we can feed everybody without additional resource use. Addressing the challenges related to “water and food security”, through the entire chain from production to beneficial use and waste, calls for focus on a wide range of technical, economic, financial, institutional, governance and political issues, with the “triple bottom line” of economic development, social equity and environmental sustainability guiding us. No......

Words: 19153 - Pages: 77

Free Essay

Trends’s free Monthly Trend Briefing How will YOU deliver on consumer expectations in the next 12 months? 10 crucial consumer trends 2013 December 2012 / January 2013 Introduction: 2013 will be the perfect storm of necessity and opportunity: some economies will do OK(-ish), others will be shaky, but in whatever market or industry you’re in, those who understand & cater to changing consumer needs, desires and expectations will forever have plenty of opportunity to profit. A remapped global economy, new technologies (or ‘old’ technologies applied in new ways), new business models... hey, what’s not to like? Hence this overview of 10 crucial consumer trends (in random order) for you to run with in the next 12 months. Onwards and upwards » 1. PRESUMERS & CUSTOWNERS 2. EMERGING2 3. MOBILE MOMENTS 4. NEW LIFE INSIDE 5. APPSCRIPTIONS 6. CELEBRATION NATION 7. DATA MYNING 8. AGAIN MADE HERE 9. FULL FRONTAL 10. DEMANDING BRANDS 11. MORE-ISM w w w. t r e n d w a t c h i n g . c o m 10 crucial consumer trenDs for 2013 2 1. PRESUMERS & CUSTOWNERS “Consumers will embrace even more ways to participate in the funding and (pre-)launch of new products and brands.” 2013 will see passionate consumers embrace two innovative new ‘consumption’ models: becoming PRESUMERS and CUSTOWNERS. PRESUMERS love to get involved with, push, fund, and promote products and services before they are...

Words: 7369 - Pages: 30

Premium Essay

Collaborative Consumption

...Collaborative Consumption: Is it a disruptive business model? Introduction Airbnb ( started in August 2008 as a booking service letting private, spare space around the world, a marketplace that connects people who need temporary living spaces, to people who have extra spaces. The extra spaces could be a spare bed, a room, an apartment or even a villa. In five years’ time they now have over 10 million nights booked, have over 300,000 listings worldwide, operate over 33,000 cities in 192 countries and have over 600 million Social connections. This idea is called by various terms as “collaborative consumption”, the “asset-light lifestyle”, the “collaborative economy”, “peer economy”, “access economy” or “sharing economy”. Like Airbnb, one can rent automobiles, kennels, rides, solar power, toys, books, art, fashion, movies, sugar and spices, food, storage, lending, bartering, education and even maids, friends and nannies ! Google, General Motors, Avis, BMW, Toyota, Barclays, Ford, Radiohead and many other big brands and organizations have all jumped into the ‘collaborative consumption’ bandwagon to supplement their business strategies Objective of study Understand and explore the reasons behind this consumer behavior. What made it possible now and not earlier? What are the regulatory and other challenges? Why are large organizations in mainstream business investing in this model? Is perceived as a threat or an opportunity? Is it an attractive......

Words: 333 - Pages: 2

Premium Essay

Tea Consumption

...priorities of the Group in the areas of:    Improving market transparency; Fostering market expansion; and Value chain enhancement. 3. Finally, delegates are requested to review the information presented, and amend and supplement these where necessary, pertaining to their countries. II. HIGHLIGHTS 4. World black tea prices remained firm in 2010 and 2011 as market fundamentals were strong. After long periods of sustained growth, black tea production actually declined in 2009, and although consumption also declined marginally, demand for black tea exceeded supply. This trend continued in 2010 and 2011 as consumption continued to exceed production. 5. Therefore, as the FAO Tea Composite Price is an indicator price for black tea, it followed that prices would remain firm throughout 2009 to 2011. Early forecast for 2012 indicates a continuation of 2 CCP:TE 12/CRS 7 this trend as adverse weather has been experienced by some major producers. However, this trend could change quickly if supply flows are unchecked. III. PRODUCTION 6. World tea production (Black, Green and Instant) increased significantly by 4.2 percent to 4.1 million tonnes in 2010. Black tea output increased by 5.5 percent in response to record prices while green tea output increased by 1.9 percent (Table 1). Growth in world output was due to major recoveries in the two largest black tea exporting countries: Kenya by 18 percent and Sri Lanka by 13 percent. Other notable increases......

Words: 6962 - Pages: 28

Premium Essay

China and India Trends Towards Western-Style Consumption

...China and India Trends towards Western-Style Consumption Roseanna Lasley BUS 330 Principles of Marketing Instructor Kristie Elmore March 31, 2014 “China and India are the world’s fastest-growing major emerging markets; over the first decade of the 2000s China sustained an annual gross domestic product (GDP) growth rate of 9 percent, while India achieved 7 percent growth (Rand, 2011). With U.S. growth sluggish and Europe experiencing its own economic crisis, it is no wonder the “Asian giants” are attracting the interest of marketers.” White, S. (2012) The population growth that has occurred over the past couple decades has been dramatic not just in the U.S., but in several other countries as well. There are many forces that directly affect marketing strategies. Such forces are called micro and macro environmental forces. The economy is now being dominated by a youth-oriented market. The products and services that today's youth focuses on, varies greatly from past generations. With such technological advances that have been made, it's no wonder that the times have changed. The generation of today focuses on speed, convenience, and quality. Marketers of today understand that in order to attract the youth consumer market, they must offer them products and services that interest them. Such products and services should focus on technology, music, fashion, and other influential factors that are important to today's youth. The western style of consumption consists of......

Words: 2144 - Pages: 9

Premium Essay


...made of plastic; inclusively we could probably recycle every object at our sight. In the article “Plague of Plastic Chokes the Seas” written by Kenneth R. Weiss, he discusses the rapid spread of trash pollution, specifically plastic, in our oceans. Weiss not only addresses the spread of pollution, but also the damaging consequences it has in our ecosystem. In the following paper, I will address the threats of plastic debris gyres throughout the oceans, the vast amount of synthetic nets threatening wildlife, the spills and toxic chemicals in plastic pellets, and our nation’s obsession in materialism. Unlike natural disasters, most environmental threats are caused by human beings. Human population increases yearly, and with it increases consumption and demand. The more and more humans consume the more affordable we want things to be and the easier it becomes to eliminate objects as they appear useless. The idea of useless objects and easy elimination has caused Americans to produce about 4.5 pounds of trash daily containing anything from food, glass, textiles, plastics, metals and etc. (Eitzen, Zinn, and Smith 89). While our cities have tried to make every household “go green”, it seems quite simple to throw away trash all in one container rather than those provided to us for special purposes (i.e. recycling bin, yard waste and hazardous containers). This trash that gets collected weekly, sometimes more often, ends up in gyres in the world’s oceans, taking centuries to break......

Words: 1137 - Pages: 5

Premium Essay

Conspicuous Consumption

...Leisure Class Conspicuous Consumption”. “In what has been said of the evolution of the vicarious leisure class and its differentiation from the general body of the working classes, reference has been made to a further division of labor that between the different servant classes. One portion of the servant class, chiefly those persons whose occupation is vicarious leisure, come to undertake a new, subsidiary range of duties—the vicarious consumption of goods. The most obvious form in which this consumption occurs is seen in the wearing of liveries and the occupation of spacious servants' quarters. Another, scarcely less obtrusive or less effective form of vicarious consumption, and a much more widely prevalent one, is the consumption of food, clothing, dwelling, and furniture by the lady and the rest of the domestic establishment”. In many ways modern society demands for humans to look good nice clothes, neat footwear, and a well-groomed body are all necessary for success and respect in life. You are treated in a different way depending on the way you look. Sometimes it is a crucial point of your successful career, personal relations and general positive perception. An important part in the appearance of a person plays his /her clothes. That is why nowadays, just like in the past, clothing is such a highly appreciated human value .But people often overestimate the values of things. The upper society is influenced by the concept of conspicuous consumption in many aspects of......

Words: 405 - Pages: 2

Premium Essay

Green Consumption

...Similarities of Green Consumption in China and the U.S Green consumption has become a common practice among businesses around the world. The concept of green consumption is the manufacturing and selling of products that are environmentally friendly and sustainable for society and people. It also means recycling materials as well as being energy efficient. By practicing green consumption, companies are able to create products that can inflict less harm to the environment and to people. Green consumption alone cannot help improve the environment quickly. Green marketing helps to promote and reinforce the idea of sustainable products that green consumption is about. Everywhere around the world that practice green consumption has different ways of promoting it. In countries, such as United States and China, they share a common idea of what green consumption is, but practice and promote it differently. In China, their ultimate goal is to achieve sustainable consumption in choosing green products that are uncontaminated, good for public health and avoid pollution with the awareness of its people. China Origin The idea of green consumption was not immediately accepted in China. The United States started green consumption before China, so they have a better grasp and understanding on how to approach the problem on how to be environmentally sustainable. Over recent years, the concern of the environment rapidly has been increasing in China. The concept of green consumption has......

Words: 1616 - Pages: 7

Premium Essay

The Trends

...Trends Shaping Tomorrow’s World By Marvin J. Cetron and Owen Davies Forces in the Natural and Institutional Environments Introduction For nearly half a century, Forecasting International has been tracking the forces that shape our future. Some 20 years ago, we codified our observations into a list of trends that forms the basis for much of our work. For each of our projects, we compare the specific circumstances of an industry or organization with these general trends and project their interactions. This often allows us to form a remarkably detailed picture of what lies ahead. This is Part Two of FI’s periodic trend report. It covers trends in energy, the environment, technology, management and institutions, and terrorism. (Part One, published in the May-June 2010 issue of THE FUTURIST, tracked economic, population, societal, family, and work trends.) Because this forecast project is ongoing, the authors — and the World Future Society — welcome your feedback. 38 THE FUTURIST July-August 2010 © 2010 World Future Society • 7910 Woodmont Avenue, Suite 450, Bethesda, MD 20814, U.S.A. • All rights reserved. JULIEN GRONDIN / ISTOCKPHOTO Energy Trends 40% in 1999 to about 37% in 2020. n Despite efforts to develop alternative sources of energy, oil consumption is still rising rapidly. • The world used only 57 million barrels of oil per day in 1973, when the first major price shock hit. By 2008, it was using 86 million barrels......

Words: 12752 - Pages: 52

Free Essay

Consumption of Luxury

...respondents and draw conclusions that can be used as a base for further researches. Respondents‟ group is formed by the luxury products‟ consumers. They are divided into two groups, the introverts and the extroverts, using test type questionnaire, based on Carl Jung‟s personality theory. The aim of the study is to find out a relationship between introverted and extroverted types of personality and motivations for status consumption of affordable luxury goods. The research questions are: “Does a personality trait affect motivations for consumption of luxury goods?”, “Which motives are typical for a certain type of personality?” The study brings together researches on status consumption motivations and Jung‟s the- ory of introversion - extroversion dimension of a personality by looking at possible connection between personality type and person‟s motives for consumption. The short theoretical frame of reference is presented by previous researches made on luxury goods consumers‟ segmentation by Han et al., Husic and Cicik; and researches 6 on status consumption of luxury goods by Scheetz, Heinemann, Shukla, as well as Jungian theory of personality types by Carl Jung. 2 LITERATURE REVIEW 2.1 Definitionofluxurygood Socio-economic science gives various definitions of concept “luxury goods”. Some of the definitions underline special features of luxury products: “Luxury goods can be dif- ferentiated from normal or "non" luxury goods by the extent to which they exhibit a dis-......

Words: 1303 - Pages: 6

Premium Essay


...possible reasons for this trend in the light of theories of consumption. 
 Effects of the 2008 financial turmoil hit the economic climate hard causing a shift in the behaviour of consumers as they decreased consumption and increased their savings rate. This is mainly due to erosion of confidence and high levels of uncertainty about expected future income. Consumers adapting to this change follow the assumption that they’re forward looking, they seek to maximise their utility from consumption over their lifetime and they’re prudent. The explanation of consumer behaviour is highlighted mainly by the Modern Lifecycle Model and concreted by the Certainty Equivalent Life Cycle Permanent Income Model (CE-LC-PI). There are a few additional factors that may have caused this rise in savings rate including debt reduction causing a decline in available credit and real wealth and changes in investment risk. The Life Cycle Model under Certainty (LCM), as stated by Modigliani and Brumberg (1954) suggests that individuals plan their consumption and savings behaviour over their lifetime in order to maximise their utility. Under the CE-LC-PI, households base their current spending decisions on their permanent incomes (the incomes they expect to receive on average over their entire lifetime). This model, unlike the LCM includes shocks and assumes consumers are forward-looking and want to smooth consumption under a perfect capital market. Under the LCM, the consumption profile is perfectly......

Words: 1076 - Pages: 5

Premium Essay


...West Coast Forum Research Work Group Sustainable Consumption & the Sharing Economy Summary of Research Findings and Gap Analysis Topic: How state and local governments are promoting sustainable consumption and engagement in the sharing economy RESEARCH QUESTION(S) • What is the state of knowledge about sustainable consumption? How is this defined or framed? What are the emerging trends? What potential roles can municipal and state governments play? • What barriers have been identified and how might these be overcome? • What strategies, techniques and policies are effective at promoting sustainable consumption through reusing, renting, repairing, and sharing products and materials? • What GHG reduction benefits can be achieved through these activities? • What strategies, techniques, policies and innovative approaches have not yet been tried but have been proposed that are considered to have greatest potential? Note: This research summary builds on the findings of a previous literature review “Changing Consumer Behavior” presented at the 2012 annual Forum meeting. Many of the issues and key findings related to sustainable consumption are addressed there. Sustainable consumption is a rich and nuanced topic for which extensive literature exists. While not the primary focus of this review, the concepts around sustainable consumption provide a context for exploring specific activities of individual consumers such as......

Words: 5133 - Pages: 21

Free Essay

Sesame Consumption Is a Growing Trend

...prevent lipid peroxidation damage to the skin, counteract or neutralize the intracellular accumulation of free radicals harmful substances, can make the skin white and moist, and can prevent a variety of skin inflammation. Sesame also has a nourishing effect, you can treat dry skin, rough skin smooth and delicate, rosy sheen. In recent years, China sesame production dropped significantly, but with the improvement of people's living standards, health awareness, sesame and its products consumption increasing. Since the gap between supply and demand continues to expand, sesame imports increased year by year, with an average annual growth rate of over 10%. Sesame Shelling and Separation Machine is a patented product of our company independent intellectual property rights, including a number of national patents, is the production of dry cleanup sesame professional equipment. The device can be cleaned to Sesame impurities impurity rate within ten thousandths. The device has low energy consumption, compact structure, small footprint, less raw sesame loss, high degree of automation, easy operation and maintenance, etc. It is the best equipment in the world today sesame impurity sorting. Leave email\\capacity for more details or contact me

Words: 324 - Pages: 2

Premium Essay

Private Consumption

...Assignment #4 Private Consumption 2008 – 2009 Vickie Goodman June 9, 2011 Dr. Hermann Bayer ECO 550 Managerial Economics and Globalization Introduciton Private consumption is defined as the value of the consumption goods and services acquired and consumed by households. Due to shifts in the economy, economic conditions have brought about many structural changes in employment, consumption of durable and non-durable goods, and consumer confidence. The automobile industry has also been affected by changes in the economy. After reviewing the analysis for each category stated above this paper will provide a brief overview of what happened to the total amount of goods consumed and economic growth during 2007, 2008, and 2009. Employment We will begin first by discussing what happened to employment. During 2008 and 2009 employment decreased. For the current recession, employment growth first dipped below zero in early 2007. To accurately measure employment rates analysts should begin by looking at second quarter data from 2007 to current data. Growth of employment and hours worked provide important information about the current and likely future pace of overall economic growth. Trends in average hourly earnings provide information about supply and demand conditions in labor markets, which may provide signals about the overall level of resource utilization in the economy. Managers need to be aware of the level of unemployment along with changes in price levels because......

Words: 831 - Pages: 4

Premium Essay

Trend in Consumption

...Trends in Consumption Patterns In this paper the consumption trends and patterns of the increased appetite for Wine is evaluated and explained. Wine is an upcoming commodity in the United States, with some of the interest showing in the import variety of Wine, local Wineries, and retailers of Wine throughout the United States are seeing an increase in their volume sales from the increased interest in Wine. This increases the trends of sales and the demographic patterns in which that are purchasing this product. The drastic change in the demand of this product has been linked to a generational change in the United States that has become more involved in drinking Wine over any other spirit. The wine growth is well ahead of beer and other spirits when put up against each other. In 2010 the consumption of Wine increased to 276 Million cases from 205 million cases in 2000. An estimated 46 million adult core wine drinkers are thought to be behind this impressive increase. The core drinkers are put into categories that include ones who consume wine on a daily, weekly (once or more), less than weekly, and whom consume wine on two to three occasions a month. The marginal drinkers have shown to represent 31 million adults making the total consumers of wine to be in the neighborhood of 77 million people. Generational trends are the breaking down of the age groups defined in the trending of wine. Millennial, ages 17-34 represent about 70 million drinkers, Generation X,......

Words: 816 - Pages: 4