The clothing and accessories market is completely subordinated to fashion. If celebrities give their recommendations on certain products, then the demand for them increases. In addition, the influence of such trends can be traced in the design of premises. Since the second half of the 2010s, many apartments have been decorated in Scandinavian style.
Sometimes spontaneous trends arise that are almost impossible to predict, unlike fashion trends, which are regular. For example, the popularity of the children's toy pop-it broke all records in 2021 thanks to advertising from social networks. However, about a year later, the demand for these toys dropped noticeably, and they were replaced by Huggy Waggi.
Political factors
They have a direct impact on logistics and the cost of raw materials for the production of goods and services, as well as on buyers, increasing or decreasing demand.
Demography
The amount of demand netherlands email list depends on the number of potential buyers. However, the demographic factor does not remain constant; it can change depending on migrations and crises. For example, with a low birth rate, the demand for children's products also falls. The age of potential buyers and their gender should also be taken into account.
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Alexander Kuleshov
Alexander Kuleshov
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Price factors of demand elasticity
Elasticity of demand is the degree of change (expansion or contraction of the demand curve) in response to changes in economic factors associated with demand for a specific product. Price factors of demand elasticity have a direct impact on the amount of demand.
When calculating the elasticity of a product, it is necessary to take into account the price factors of the demand curve. The main stage of calculations is the comparison of percentage ratios of the required quantity of goods or services with the percentage change in factors influencing demand.
The price factors of elasticity of supply and demand are related to each other. Here are some of them:
Nature of the product. Most often, those products that are considered essential have a low value of the indicator in question. While luxury goods are quite elastic in terms of supply and demand.
Availability of close substitutes. Products that are produced in conditions of tough competition have more elastic demand. Consumers easily change their choice in favor of one or another analogue. Those products that have no alternatives have inelastic demand, since consumers are forced to buy them.
Variety of applications. Those products that have multifunctionality have a more elastic demand compared to goods intended for a single purpose.