The following changes will rock your marketing world:
Hispanic Revolution- Hispanics accounted for about half the growth in the U.S. population since 2000, according to a recent US Census Bureau report. The nations largest minority group is increasing its presence even faster than in the previous decade. Contrary to popular belief, births have overtaken immigration as the largest source of Hispanic growth. If you are not marketing your products with this minority in mind, you are making a big mistake amigo.
Boomers Retire- With nearly 80 million baby boomers driving our current economy, but with 330 of them turning 60 each hour, theres clearly a change on the horizon with marketing implications all around. Meanwhile, the U.S. Bureau of Labor Statistics (BLS) projects a labor force of 162.3 million individuals in 2012, while the economy will require 165.3 million jobs to be filled. Who is going to fill those jobs?
Health Care Costs Increasing- Old news you say? It is going to get much worse. The real culprit is an acute shortage of doctors coming out of too few medical schools. If the trend line continues at the current rate for the next twelve years, half of the US population will not be able to afford even minimal healthcare. Talk about haves and have nots.
Mass Personalization- Mass marketing is dying and it is being replaced by mass personalization, a trend that finds the consumer demanding goods and services tailored uniquely for them including clothing, information, and food. Did you know that you can order custom colors of M&Ms with unique personalized logos? Gotta have that!
Social Networks- MySpace is only the beginning. People want to find others just like themselves by data mining the 300 million person pool of US citizens. The networking possibilities are limitless. Marketing is now permanently viral.
Wireless Everything- Over the next five years, most common consumer products will become wireless. Say good-bye to cords, cables, and wires. The bad news is that this wireless trend will obsolete virtually all the consumer products that you own today.
Everything Online- Bricks and mortar sales channels are dying or will seriously shrink. Look to buy absolutely everything online in ten years or less. Embrace the internet or die.
Asia- The globalization of the marketplace will continue; China will continue to be the dominant trading partner with the US, but at an increasing percentage. Look for India to grow at even faster rate.