The Insight Files
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The global consumers to watch

The global consumers to watch | The Insight Files | Scoop.it

Dramatic demographic shifts are transforming the world’s consumer landscape. McKinsey & Company's new research finds just three groups of consumers are set to generate half of global urban consumption growth from 2015 to 2030. The three demographic groups are:

 

  1. The retiring and elderly in developed economies.
  2. China's working age population.
  3. North America's working age population.

 

McKinsey & Company have summarised three fundamental implications of this research for corporate strategy:

  • Footprint matters - companies need to continually adapt to evolving demographics and consumption patterns of cities.
  • Tailor products - companies with the skills to develop tailored products and services to meet the needs of an increasingly complex consumer landscape can prosper.
  • Look closely at services - the growing share of services in consumption will, directly or indirectly, have an impact on all consumer-facing businesses.

 

Click here to download an executive summary or the full report.

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2055 predictions: Australians to live longer, work for longer and earn more

2055 predictions: Australians to live longer, work for longer and earn more | The Insight Files | Scoop.it

The Australian Government has released its 2015 Intergenerational Report: Australia in 2055, which predicts how Australia will change over the next 40 years. In general, Australians are expected to live longer and improve their incomes and quality of life. The changing landscape will present both opportunities and challengers to marketers over the next 40 years. Among the key takeaways from the report include:


  • The number of over 65s in Australia will more than double by 2055.
  • Life expectancy will increase in 2055 to 95.1 years for men and 96.6 years for women.
  • Over 65s will increase their workforce participation to 17.3%.
  • Females will also increase their workforce participation, to 70%.
  • The average annual growth of real GDP will decline to 2.8% over the next 40 years compared with 3.1% over the past 40 years.
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