Demographics

Accelerator > Socioeconomic

Rising Millennials, retiring Baby Boomers, and divergent populations of "haves" versus "have-nots" are transforming consumer markets

Rising Millennials, retiring Baby Boomers, and divergent populations of "haves" versus "have-nots" are transforming consumer markets

Definition

  • Changing demographic profiles, including ethnic and gender distribution, urbanization, education, employment, income and poverty levels, impacting who consumers are, how they behave, and what they buy

Outlook

  • More diverse populations in U.S. and other countries with different needs and behaviors
  • Rising economic power of Millennials and entry of Generation Z in workforce
  • Retiring Baby Boomers seeking meaning, extended health and experiences as they age

Implications

  • Proliferating customer segments with diverse backgrounds, needs and buying patterns
  • Challenges attracting and retaining human talent with different work expectations
  • Polarized political and socioeconomic divisions creating complexities serving multiple market segments
To what degree are you addressing the demographic, attitudinal and behavioral changes in customers and employees?
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