13 Trends to Watch for Retailers . . . and Everyone Else
12. The rise of Africa. This may be the next consumer marketplace—the next Asia. It could be very big in the global economy. The African middle class will be major buyers of what North America makes. The working population will overtake over China and India as we outsource to Africa. As far as retail is concerned, you can already see in stores like World Market and Pier One some African sensibility and influence on products.
13. Big, Big Cities. Cities of more than 15 million people create big problems, including pollution, terrorism, extreme violence, lack of education and more. We will be talking about them and discussing solutions. Nashville and Memphis will come to be more desirable than Chicago, New York and Los Angeles. Sixty percent of people will live in small to medium-sized cities. Think about how can you appeal to this new preference for downsized cities. Should you transition from "big box" to "good things come in small packages?"
Whether you agree with all 13 or not, one thing is clear: from the macro to the micro, all of these trends have implications for our businesses. And even if you are not seeing signs of these emerging preferences yet, you are probably identifying with them on a personal level.
What trends do you anticipate and how will you deal with them while driving success? Are there any predictions that will impact retail negatively and what would you advise?