On the blog of retail prophet consulting there is a post I highly recommend. It is a podcast of a conversation in 4 episodes by Doug Stephens from RPC with Eric Garland the writer of the book Future Inc. In this talk they mention some of the big issues that will change the shape of retailing in the future. Although the tendencies are about the North American continent I think they are just as relevant for Europe and the Netherlands.
The most interesting statements are:
Stop focusing too hard on 50 plus; they are in there sunset years of consuming and aren’t spending that much anymore.
Generation Y never knew a time without the Internet. They have never known a society other than a multi cultural society. They have never known a time without ‘green’.
Women are now the dominant economic force. They are more and more head of household by income. This means women are not only making the decisions but are also paying for it.
Ethnicity is becoming more important because of the huge shift of population. The new ethnic communities have completely different spending patterns as their native counterparts.
Although overall income rose, the average American family in 1979 had it better than the one in 2005.
The consumer demands less but better. Better products better experience.
Retailers have to move from wide and shallow to deep and narrow. This means offering unique niche services.
If you want to hear the whole conversation click here