Changing Demographics and Their Impact on Consumer Behavior

In this invited address, the author describes four major demographic changes and their impact on consumer behavior. They are: aging of the population, dual income career oriented families, single person households, and decline of the middle class. These demographic shifts will create a time poor, money rich consumer with highly individualized life styles which are adult-oriented rather than family oriented. In addition, consumers will demand quality in products and services, hassle free procurement and use, and will manifest strong consumer militancy as the nation shifts from a product-oriented to a service-oriented economy.