This podcast overviews how the aging society, and low birth rates, is contributing to a significant shift in demand and supply.
Despite the reliability of demographic data, and projections, few business leaders use demographics as part of their future planning. Because most leaders assume demographics won’t change much, and they need to appeal to today’s marketplace. But we are facing a global shift in demographics that is changing business conditions in every market – right down to the local level.
This podcast overviews how the aging society, and low birth rates, is contributing to a significant shift in demand and supply. It affects how businesses perform even at the most local level, because it affects the supply, demand and pricing of almost everything. Big changes in demographics that are happening now in places like India, China the US and Africa mean substantial changes are happening quickly in economic growth – and the availability of labor. Every business, regardless of size, needs to analyze the impact of demographic shifts locally, regionally, nationally and globally on their future revenue prospects.s
Thinking points:
- Are planning for a very different future, or assuming the future will look like the past?
- Do you understand how demographic changes will affect demand for your products/services?
- Do you understand how demographic changes will affect your ability to supply your products/services?
- Do you know how to position your business for growth by appealing to the right demographics?