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Summary BTEC Business Level 2 Unit 1, P2
This is an assignment in unit 1 p2 work as I achieved a pass bare in mind this is just pass work.
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Social TrendsSocial trends are trends that relate to the social and cultural values within a society.
These are usually long term trends, that explain why people behave the way they do.
For example, lifestyles, buying habits, social media, population change and education
levels will all affect your business.
These graphs show the UK age structure in 2008 (left) and the estimated structure in
2033 (right), which is beneficial information for businesses.
It shows that the UK is currently facing the effects of an ageing population. This can
be both good and bad, the positive effects of this is the rise of the “grey pound”,
which is an increased number of wealthier older people with a disposable income.
This means there are more people who can afford high end products, and it also
means if they are retired they are able to shop during not peak times. The grey
pound is worth over £320billion a year according to Saga, which is one of the biggest
beneficiaries. The drawbacks are you may have to change your products in the fu-
ture to adapt to the new ageing population, which as a small business may be costly.
Graph is from BBC Bitesize.
Niamh Grundy
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