6A – Identifying Opportunities in Economic & Regulatory Trends

Economic Trend- The environmental effects of fast fashion, specifically the rate of which items are purchased and disposed of by the consumer.
a) This issue was mentioned to me during an environmental class I am taking.
b) An opportunity exists because the issue lies in how the purchased goods are disposed of rather than resold or recycled.
c) Customers of this opportunity could be people looking for cheaper alternatives to sourcing clothes and accessories.
d) I believe this opportunity is difficult to exploit as some aspects of fashion are single use and usually becomes obsolete once a new trend appears.
e) I think there is an opportunity to reuse or resell some goods of “fast fashion”. The rate of which consumers throw away clothes when fashion renders it “old” is high regardless of its condition. I think that there may be a way to dissuade consumers from disposing and instead resell in a convenient method.

Economic trend- Marijuana use among high school students are falling in legalized states.
a) This opportunity was identified through an online article I have found.
b) The fall in marijuana use among high school students indicates that they are beginning to use other products for recreation (not necessarily drugs) or have personal reasons to avoid using marijuana.
c) Prototypical customers would include high school students who have or have considered using marijuana for recreation.
d) I believe this opportunity is relatively difficult to exploit as it is unclear as to why there is a downward trend in marijuana usage.
e) I see this as an opportunity because the downward trend indicates that these teenagers have found or are looking for new recreational activities. I believe that there perhaps are unmet needs for recreations among these high school students as less students are opting to use marijuana.

Regulatory change- A potential law to be passed regarding an increase in percent alcohol in alcoholic beverages.
a) I found an opportunity from this regulatory change from an online article.
b) The change in the alcohol limit may lead to a formation of a new product for consumers.
c) Prototypical customers are most likely consumer who like drinking beer and enjoy the effects under alcohol.
d) I believe the opportunity may be moderately exploited as this opportunity is about forming a new unique version of a beer.
e) I see this as an opportunity because many current beer producing firms will most likely keep their recipe to maintain the taste and quality that the consumers currently buy them for. However, the increase in alcohol can perhaps be a way for a rising firm to form a unique beer from this increase in alcohol limit. I see this opportunity because my relatives are the type of people who have strong preferences for the beer they drink.

Regulatory Change- Water war between Florida and Georgia - specifically Georgia’s water harvest from the Apalachicola Bay.
a) I discovered this trend from environmental economics class I am taking this semester.
b) Florida is fighting for a cap on Georgia’s water draw; thus an opportunity exists if such cap is implemented.
c) If the cap be established, then the people of Georgia will be in shortage of water, thus most likely the customers of this opportunity.
d) The customers may be relatively easy to exploit as water is an essential need and a shortage of such need perhaps makes an easy exploit.
e) I see this as an opportunity because the war is currently undergoing. Although Georgia is currently not in a huge water shortage, it may be the case in the future should Florida win against Georgia, and not many are focused on the future. Especially since Georgia contains a very large population, an opportunity to provide water service will most likely be in demand if a shortage does occur.