In short: market trends are changes in what customers want, new habits or technology, and changes in your local area. Pick a few you can point to, and say how each one affects your business.
Where Trends Come From
| Type | Example |
|---|---|
| Customer wants | More people want healthy or fast food |
| Habits and technology | More people pay by phone |
| Local changes | A new office building opens nearby |
| Costs | Ingredient prices are rising |
How to Find Trends
- Watch your customers and listen to what they ask for.
- Talk to suppliers — they often see changes first.
- Check official data, such as your national statistics office.
- Look at local news about new buildings, roads, or businesses.
Link Each Trend to Your Business
For each trend, add one line: does it help or hurt you, and what will you do about it? Helpful trends become opportunities in your SWOT; harmful ones become threats.
Fill-In Worksheet
Answer these questions in a few words each. Your answers become this part of your plan.
- What are customers asking for more often?
- What new habits or technology affect us?
- What is changing in our area?
- Which costs are rising or falling?
- For each trend: does it help or hurt us, and what will we do?
Examples (Illustrative)
Illustrative example — a small bakery
More people pay by phone → accept phone payments from day one. · A new office building opens next year → more morning customers. · Flour prices rising → fixed-price supplier deal.
Illustrative example — a mobile food stall
More people order food by phone → take orders through a messaging app. · A new bus station opens nearby → set up near it at rush hour. · Cooking gas prices rising → buy in larger amounts with a neighbor stall.
Common Mistakes
- Global trends with no local link. Keep it about your customers and area.
- No source. Say where you saw the trend.
- Too many trends. Three to five that matter is enough.
Where It Fits in Your Business Plan
Market trends belong in the Market Analysis section. See also market research.
Frequently Asked Questions
What are market trends?
Changes in customer wants, habits, technology, costs, or your local area that affect your business.
How many trends should a business plan include?
Three to five that clearly affect your business.
Where can I find market trends for free?
From your customers, suppliers, local news, and official statistics.
Should I include trends that hurt my business?
Yes, with what you will do about them.
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