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As the World Ages: What Are the Retailing Implications?
“[Globally,] the number of people over age 60 is already close to 1 billion and is expected to double by mid-century — to nearly a quarter of the planet’s population, according to the United Nations Department of Economic and Social Affairs. And, financial forecasting firm Oxford Economics has found that, in the U.S. alone, the ‘longevity economy’ — the goods and services Americans over 50 consume and the industries that serve them — already generates $7.1 trillion annually and should grow to $13.5 trillion by 2032, when it is expected to account for more than half of U.S. gross domestic product.“
This entry was posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business and tagged aging, customer expectations, customer service, demographics, global, Merrill Lynch, opportunity, planning, trends. Bookmark the permalink.
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