Population Trends and Retail Planning
In a written submission, using APA formatting, answer the following questions:
1. Between 2010 and 2050, what type of retailers will be most affected by changes in the ethnic makeup of the population? Will these same retailers be affected by the changing age distribution?
2. It is important for a retailer to understand that as boomers age, they change their shopping behavior. Can you provide one example from current events where a retailer successfully adapted to this changing behavior? Can you provide an example where a retailer hasn’t done a good job of adapting to these changes?
3. Which recent trend—parents returning to live with their children or children returning to live with their parents—is going to have the most significant impact on retailers? What can retailers do to take advantage of these trends?
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