Identifying Consumers' Trends in Canada - Research Paper Example

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Identifying Consumers' Trends in Canada

This report analyzes and examines the changing behavior of the consumers and how important it is for businesses to analyze the consumer trends. Moreover, the report also analyzes how to identify consumer trends and discusses about consumer trend drivers. The report then discusses about changes in the consumer trends towards the food products and how Canadians have been spending on their households, transportation, food and health care. With the changing environment and market, consumer needs and preferences are also changing and one of the changes in the consumer trend that has occurred is in the recent years is towards mobile phones. With the advancement in technology, there has been an increase in ecommerce and online transaction and this report discusses about the trends of online shopping in Canada and also identifies the barriers that could hurt the growth of ecommerce. 1.1. The Importance Of Identifying Consumer Trends Consumers have a very important role to play as their behavior, actions, thinking can not only influence the businesses but it could influence the overall society as well (Higham, 2003, pg. 9: 2-3). ...Show more

Summary

1.0. INTRODUCTION Consumers are the ones for which businesses produce or manufacture the products and services. If there are no consumers then the there will be no one willing to purchase the products and services. Therefore businesses need to consider and identify what consumers are looking for and what they needs and demands are and offer them goods accordingly…
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