https://padlet.com/s101941631/wzx3abtzfpweztbo Full names of group members: [1] Mark Lim Ko Pi [2] Cynthia Yao Siew Dai [3] Mike Boh Ko Song [4] Lee Kah Dai [5] Wang Lao Shi en-us 2020-11-16 13:46:46 UTC 2024-06-07 23:05:22 UTC hello@padlet.com s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073847 1. Demand for coffee, especially specialty coffee, increased over the years
Support from key sources:
- The overall coffee consumption is predicted to increase by 2.5 to 3% per year led thanks to rising popularity of indie/small entrepreneur owned cafes.
- Such trend can also be inferred from the increase in demand of essential resources. E.g. the imports of coffee beans went from S$1.1 billion in 2008 to S$1.4 billion in 2011.

To find out more for report writing:
- Overview of beverage industry/Ranking of coffee consumption versus other beverages

2. Changes in taste and preferences led to the increase in demand for specialty coffee
Support from key sources:
- NTU Associate Professor, Julien Cayla, commented that consumers are increasingly rejecting mass-produced common food and brands. That gave rise to the "third-wave" in the coffee industry, the rise of specialty coffee.
- Starbucks General Manager, Patrick Kwok, commented that consumers now wants to know more about what they are drinking. E.g. The origin of the coffee beans

3.  Changes in consumers income affects demand for specialty coffee
Support from key sources:
- With rising affluence, consumers are changing their preference from instant coffee, to high-quality specialty coffee.

To find out more for report writing:
- Evidence supporting rising income of consumers
 
4. Market structure of the specialty coffee industry: Monopolistic competition
Support from key sources:
- Production differentiation such as different branding, location and product image are widely practiced
- E.g. JBM coffee & dining differentiated their cafe from others in terms of their unique  European themed interior and location (CBD area).
- There are numerous specialty cafes in Singapore and no dominant cafe(s) within the industry.

To find out more for report writing:
- The number of players in the market, double check that there is/are no cafe(s) that own(s) bulk of the market share.
- A few more examples of how certain cafes selling specialty coffee differentiate their products and services from others. E.g. Online purchase and delivery of coffee beans

Note: This is just an example. Analysis depends on the information and economic concepts chosen by team. Noticed that other appropriate concepts such as price elasticity of demand is not covered in this example but that doesn't mean you can't.  In fact, you should!

]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073847 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073849 Singaporeans drinking more coffee ]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073849 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073852 Changing culture of coffee drinkers]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073852 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073853 Singapore coffee industry evolves amid growth of specialty shops | Video

]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073853 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073854 [1] Coffee ranked number 1 in terms of beverage consumption. 62.22% of Singaporeans consume coffee regularly [Cint, 2018]
https://www.statista.com/statistics/920752/singapore-regular-beverage-consumption/

[2] Singapore sits at number 36 in the list of  "Top 50 coffee consuming countries", [Euromonitor, Mar 2018]
https://perkcoffee.co/sg/countries-consume-coffee/

Note: These are meant for elaboration of your prelim analysis in Stage 3 (Report Writing). For instance, reference 1 would help to expand the first point in your Prelim Analysis to a more rounded analysis to be captured in team's report.]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073854 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073855 Coffee bean prices hit 2-year high as Asians drink more

]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073855 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073857   MICROECONOMIC ANALYSIS]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073857 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073860   MACROECONOMIC ANALYSIS]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073860 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073861 Singapore's 2020 growth forecast hits negative territory, Q1 GDP contracts 2.2%

]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073861 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073862 A month into COVID-19 outbreak, retailers, eateries are reeling from near-empty malls and streets

]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073862 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073863 4 ways the Resilience Budget is helping Singapore’s businesses stay afloat]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073863 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073865 1.  Fall in real GDP: F&B industry affected by the Covid-19 outbreak
 - Real GDP growth forecast for 2020 is in the red, between -4 to -1 percent
 - A sharp decline in tourist arrivals and fall in domestic consumption due to the coronavirus   situation caused the fall in major sector, including F&B.
- The Restaurant Association of Singapore (RAS) has announced that the F&B industry has seen at least a 50% dip in business since the first infection.
- Net exports and consumption are two major expenditure components of SG's GDP, downward revision of growth forecast makes sense
- Fall in domestic consumption and investment due to precautionary measures such as WFH and social distancing. E.g. Cafes and dining places in CBD area reported to have fewer walk-in customers
- Fall in domestic consumption due to falling purchasing power (link to point 2)
- Fall in domestic consumption also likely due to the negative sentiments of the current situation
   
To find out more for report writing:
- Data/evidence indicating fall in real income and negative sentiments by consumers

2. Rising underemployment as businesses try to cut losses
- Retail and F&B employees are asking full-timers to convert to part-timers
   (Evidence: CNA's interview of a boutique stall in Novena).
To find out more for report writing:
-  Rising cyclical unemployment as businesses retrench workers.
 
3. The government is implementing massive expansionary fiscal policy to help businesses stay  afloat
- In the form of rental waiver, deferment of tax payments, wage co-payment, temporary loan
- By keeping businesses afloat, there will be less retrenchment, mitigating the fall in consumer spending.

To find out more for report writing:
- Fiscal expenditures to help workers
- Whether the government is also implementing expansionary monetary policy
- Overall impact on inflation rate with falling demand-pull inflation (falling income and negative sentiments) but rising cost-push inflation (restrictions in importing raw materials such as coffee beans)]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073865 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073866 DBS offers to help build online platform for businesses
[For conclusion/measures]
https://www.dbs.com.sg/sme/covid-19-relief-measures/fb-digital-relief-package

Workers get pay cut due to covid-19 outbreak
[For unemployment and GDP]
https://www.channelnewsasia.com/news/singapore/covid-19-coronavirus-businesses-rent-sales-12461962

Government reveals $48 billion package to support workforce [For unemployment and GDP]
https://hrmasia.com/singapore-reveals-s48-billion-resilience-budget-as-economic-recession-looms/

Expansionary monetary policy
[For Government measures]
https://www.channelnewsasia.com/news/business/mas-eases-monetary-policy-as-economy-reels-from-impact-covid-19-12587788

Note: These are meant for elaboration of your prelim analysis in Stage 3 (Report Writing). For instance, reference 1 would help to expand the first point in your Prelim Analysis to a more rounded analysis to be captured in team's report.]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073866 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073868 F&B, retail businesses in CBD feel pinch as people work from home amid coronavirus concerns]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073868 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073869                                                                                                  GROUP REPORT
                                     This shall be a combination of your prelim analysis in stage 1 and 2 with more DEPTH!  ]]> 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073869 s101941631 https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073871 2020-11-16 13:46:46 UTC https://padlet.com/s101941631/wzx3abtzfpweztbo/wish/927073871