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Changing Demographics
Verdict Research Limited, July 2010, Pages: 42
Based on a presentation on changing UK demographics at the Marketing Week Conference in June 2010. This is the slide pack from that presentation, which focuses on the changes in the population over the next five years and the issues for retailers. It concentrates on the 15-24 year olds and the mature shopper and highlights the issues and opportunities for retailers.
Scope:
- UK population changes 2009-2015 and retail growth rates.
- The change in numbers of 15-24 year olds, their shopping propensities in different sectors, drivers of loyalty by gender and spend per head.
- Changing 65+s and the male shopper, plus the electrical shopper and different loyalty drivers by age and gender.
- Summary and recommendations on retailer responses.
Highlights:
The two largest sections of the UK population are getting bigger over the next five years and while one has no spending power at all, the other's power is declining.
The 15-24 year old age group is declining and has increasing pressure on its disposable income, and men and women in this age group have different drivers of loyalty, therefore retailers must develop new propositions to drive spending. This presentation highlights how.
The mature shopper is more likely to buy electricals than other age groups, but there are different drivers behind the shopping habits of men and women in the sector. Developing a proposition that satisfies both will give an edge in a sector which is struggling in the face of heavy price competition.
Reasons to Purchase:
- Develop a strategy in advance of your competitors to ensure you can exploit population changes to your advantage
- Understand the issues facing retailers and how these can be solved by adapting your proposition to attract the loyalty of your shopper
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