Exploring Consumer Trends in the Great American Coffee Taste Test

Objective: The project aims to analyze and interpret data to gain actionable insights into consumer preferences, trends, and patterns within the US coffee market. Through a comprehensive statistical analysis, the project aims to uncover key factors influencing coffee consumption and emerging market opportunities.

Methodology:

1- Initial Data Analysis and Exploration with Excel :

• This initial phase involved filtering, sorting, and conducting basic statistical analysis on the collected data. The focus was primarily on identifying initial trends and patterns related to consumer preferences in the US coffee market.
• Specifically, Excel was utilized to examine the frequency and characteristics of coffee types, brewing methods, flavor preferences, and Coffee choices among participants. Through Excel's capabilities such as pivot tables, sorting functions, and statistical tools, significant insights were uncovered regarding the distribution of preferences across different demographics.

2- Data Visualization with Power BI:

• After the initial EDA and Cleaning in Excel, the data was imported to Power BI.
• The Report is Split into 4 Sections :

1- Overview of Customer Demographics

This section provides a comprehensive overview of our target customers' characteristics. These customers are segmented based on various demographics including age, employment status, working mode, gender, and more.

Understanding the unique characteristics of our customer base and categorizing them into distinct segments is of paramount importance. This segmentation approach provides valuable insights that are often concealed within these patterns. By identifying and prioritizing the most relevant segments, we can allocate our resources more effectively, ensuring that we invest our time, money, and efforts in targeting the segments that hold the greatest potential for our business success. This strategic focus allows us to avoid unnecessary expenditures on attracting less viable segments, ultimately leading to a more efficient and targeted marketing strategy.

2- Understanding Customer Preferences

This pivotal section of the report delves into customer preferences, a critical aspect for any business owner seeking actionable insights. Here, we present an array of measures and visualizations designed to provide a clear understanding of customer preferences across various dimensions, including flavor preferences, coffee drink preferences, and roast preferences.

To facilitate ease of analysis, we have incorporated two filters that allow for seamless segmentation of customers by age and gender. This segmentation not only aids in understanding individual preferences but also offers valuable insights into the preferences of specific demographic combinations.

3- Price Dynamics Analysis

Understanding the price range within which our target customers are willing to pay is of paramount importance. Any deviation from this range could potentially result in revenue loss or the loss of customers to competitors. By conducting thorough market research and analyzing customer preferences and spending habits, we gain valuable insights into the optimal pricing strategy that maximizes revenue while maintaining customer loyalty.

Furthermore, identifying the price sensitivity of different customer segments allows us to tailor pricing strategies to each group effectively. This targeted approach ensures that we capture the maximum value from each customer segment without risking price-related churn or revenue erosion.

4- Recommendations.

The final section of this report is dedicated to providing actionable suggestions to our client based on the findings uncovered throughout the previous sections. These suggestions are informed by a thorough analysis of customer preferences, market trends, and key insights gained from the previous sections.

Findings:

• 80% of the respondents are Employed full-time.
• Pourover is the prevailing choice for coffee enthusiasts overall, there's an interesting gender disparity in preferences. Females, in particular, exhibit a pronounced inclination towards Latte.
• In the blind test, 34% of the respondents expressed a preference for Coffee D. This validates our earlier analysis, which indicated that a significant portion of our customer base favors light-roasted coffee with fruity flavors.
• Chocolaty and Fruity flavors are preferred especially among young adults.
• The 35 - 54 Age group stands out by having the highest average monthly coffee expenditure.

Conclusion : our analysis of the Great American Coffee Taste Test has provided crucial insights into consumer preferences within the US coffee market. These findings highlight the importance of tailored marketing strategies, optimized pricing, and customer-centric initiatives for our client's success in this competitive landscape. Moving forward, leveraging these insights will be instrumental in driving sustainable growth and delivering exceptional value to customers.