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.