TrendSights Analysis: Socio-Demographic Change
Socio-Demographic Change is one of the fundamental underpinnings of the Evolving Landscapes mega-trend. As global populations grow, age (due to people living longer), migrate, and follow less traditional paths through life, brands are faced with increased complexity but enhanced opportunity to appeal to consumer attitudes and behaviors that are becoming more differentiated and numerous.
1.Gender, age, lifestyle, non-traditional situations, and lifestage changes all mean normal must be redefined and seen as a flexible concept. However, globalization also means that some products are becoming universal – consumers with a shared consciousness aspire to the same things, or local variations thereof.
2. Tailoring products through demographic segmentation to enhance consumer engagement is an obvious consequence of more granular consumer niches. Be mindful of evolving gender roles and change traditionally gender-biased categories through marketing, formulation, and packaging.
3.While demand grows for ever more personalization and differentiation, at the same time the risk of this becoming overwhelming grows. Consumers favor simple solutions to their needs in most areas. Demographic targeting becomes more powerful when delivered with minimal complications.
4. Ethno-cultural influences are fueling experimentation and innovation, by both meeting minority needs and introducing the majority to new ideas. Look past predictable sectors such as food and drink; household care, baby care, and pet care norms in other regions may have innovation lessons.
TrendSights Analysis: Socio-Demographic Change assesses the implication of changes to populations on the FMCG industry. These changes can take many forms: varying birth rates and life expectancy, net immigration or emigration, or simply large numbers of consumers making substantial changes to their lifestyle.
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