6.1.3—Social and demographic

Population structure, education, culture, lifestyles, migration and attitudes can change who buys, who works and what customers consider valuable.

Businesses should distinguish a trend from a stereotype and test whether the relevant segment, location and time period are actually changing.

An ageing population may increase demand for accessible services while reducing the available workforce in some regions, creating both a market opportunity and a staffing challenge.

A demographic average cannot predict every individual, and social change may differ sharply between segments.