Trends
Essay title: Trends
Trends
Demographic/Generational
Rapid aging population and changing family structure
Generation Y coming through as a dominate buying force
Exposure to technology happening earlier in life
Geographical Trends
Cities are spreading and therefore travel time to and from work is increasing
Increase in air travel has allowed people to visit and relocate to other countries
The threat of terrorism has resulted in borders becoming tighter and visa’s/immigration becoming more secure
Social Trends
Growing trend of online social networks and the demise of the local community group
Equality between men and women has increased pressure on females to be able to have a career and look after a family
Change in family dynamics has seen the modern family unit move away from a traditional family structure of two parents and two children
There is a growing trend for lower and middle class consumers to aspire to and purchase luxury products previously considered only for the upper class
The life cycle in the 21st century has slowed down due to the extended life expectancy allowing people to put off marriage and children to later in life
Economic and Work trends
Rise in purchasing power in the last decade has allowed for more disposable income, this is the result of Australia’s improvement in trade agreements with other countries
The current value of the Australian dollar has resulted in imported goods becoming cheaper and the ability to buy products from overseas more likely
In 2005-2006 there was a distinct increase in disposable income and as a result this increased the consumer consumption nationally
Housing affordability has decreased and first home buyers are more likely to continue to rent or return to their family home to save money