“Over the next 20 years, powerful demographic, societal and economic trends promise to reshape consumer behavior substantially in many of the world’s wealthier nations.”  So begins an interesting article in The McKinsey Quarterly, an on-line journal of business management and strategy, known for its in-depth research and analysis of trends and innovations.

The article Older, Smarter, Poorer: The French Consumer Transformation looks at three long-term trends that will fundamentally transform France and dramatically change the consumer landscape, not only in France but in Europe and beyond.    The trends indicate that the average household in 2030 will be older, better educated and less wealthy than the average household today.

The implications for business and ageing service providers will be significant, especially with the increasing interest in ‘person-centered care’ models.

PS.  This week the French government raised the retirement age to 62, a step not very popular among the citizens but necessary if they are to meet their economic challenges.  Read more.