In business the market place is continually changing as the demographics of the population shift. New technology is coming to the market at an exhilarating speed. Businesses that catch the latest trends will ride the wave for years to come.
The biggest change taking place now and over the next few years is the rise in power of the mature (50 plus) market. By 2025 one in three people in the UK will be 55 or older. In Europe the percentages will be even higher! The spending power of this segment will be huge. In most case the retirees will have paid of their mortgages and will no longer have to support their children.
How will this affect business and what changes do I expect?
Fitness Clubs – Up till now gyms have been primarily marketed to young, health conscious, beauty obsessed people between 18 to 40 years old. Over the next few years this will change as the market realises how much disposable money the retirees have.
Nutrition Foods – The ageing population has different nutritional needs and requirements from its younger counterparts. Expect to see a lot more supplements that specifically target the “mature” market. Labels...
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