The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2017
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The global consumer landscape is being transformed and reshaped at an unprecedented pace. With fewer births and an increasing life expectancy, population ageing is now taking place in almost all countries of the world. Businesses that recognise and adapt to this population trend – not only by targeting the current older population but also by focusing on tomorrow’s silver consumers – will be rewarded with substantial opportunities in a wide range of sectors.
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Increased life expectancy, better healthcare, declining fertility rates, and improved living standards have resulted in a long-lasting global trend of population ageing. Ageing presents many socioeconomic and health challenges, but the changing needs of consumers as they age also present substantial opportunities that are not to be overlooked by businesses.
Older people worldwide are generally richer, healthier and more active (including economically active) than ever before. Coupled with their rising numbers, this makes them a consumption force of growing importance.
The average gross income of the population aged 65+ varies hugely between countries, as it inevitably reflects the country’s overall income level and its stage of socioeconomic development. However, even within the developed world, the fortunes of the over-65s are uneven.
Just like with any other consumer segments, a one-size-fits-all strategy will not work when it comes to targeting silver consumers as they are extremely diverse. In order to succeed in seizing the wide-ranging opportunities presented by population ageing, businesses must have insight into not only older consumers’ purchasing power but the changing attitudes, preferences, needs and behaviours of this consumer segment.
Euromonitor forecasts the global population aged 65+ will approach 1.0 billion, accounting for 11.7% of the world’s population, in 2030. Seven in 10 people aged 65+ will live in emerging and developing nations in 2030 with China being home to 1-in-4 people aged 65+ globally.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.