We live in an ever changing, fast pace world. Irrespective of whether you are considering starting a business or perhaps you are already in business, it is very important to keep an eye on the behavioural activity of the almighty consumer. Consumer attitudes, perceptions and behaviour continually change new trends and countertrends develop over time.  If you stay one step ahead of the game you can take advantage of new and evolving retail trends.  Lets take a sneak peak into the future and see what could dawn on our horizon in the near future.

Aging Baby Boomers

The population is aging – we can now look forward to a longer life expectancy.  So who is catering for the needs of the aging population? The aging baby boomers represent a fantastic opportunity for the smart business Mum to consider what products or services they could provide, to cater for the needs of this market.  Retirement now represents many things to many people, for some its travel, consider the boom in the number of caravans purchase over the last 5 years. Some of the 55 plus are spending the kid’s inheritance on “all round Australian vacations”. For others retirement is about living life as comfortably as possible.  Business opportunities exist in designing the necessary equipment, utensils, accessories to help the elderly generation to live as comfortably as possible for example better designed cooking accessories for those with arthritic hands, poor eyesight.

Reader Wear have seized upon a growing trend motivated by the needs of the Baby Boomer.  Readerwear recognized that the baby boomer of today was not satisfied with the selection of reading glasses found in their local drug store (pharmacy).  The baby boomer in fact wanted more choice and style, without having to pay a couple of hundred dollars for prescription glasses. Reader Wear supply the baby boomers with an up to date product mix, with the latest in eyeglass fashion and eyewear trends.

We simply want more and more

We are about to enter into an experience economy, if we are not already there.  We seek more than just products to fulfil our lives; we seek experiences full of fun and adventure, we want a little something different.  There are those in life who have achieved all they have set out to achieve, perhaps prematurely nevertheless this market of consumers are now looking for experiences to further enrich their lives.  It makes sense, after all once you have it all what else is there for attainment. An entrepreneurial opportunity exists for those interested in providing such experiences. Lets consider some examples: cooking lessons with a famous chef, hot air balloon lessons and ferrari drive days. Consider the following sites: Total Experience and Signature Days.

Marketing to Women

As women we are one of the largest target markets to be reckoned with.  Many businesses are finally realising the amazing power, our target market commands. Many women are behind a majority of the purchasing decisions made within the family unit.  It seems opportunities go begging for those businesses who ignore the women’s authority. Fernwood Fitness is a great Australian example of a business which has successfully targeted a section of the “women only market”.  Fernwood satisfies the needs of those women looking to improve and or maintain their own health and fitness.  Another great example of a business aimed directly at satisfying the needs of women, is Pink Ladies .  Motivated by the high number of women attacked each month in the UK, after getting into an unlicensed mini-cab, Pink Ladies spotted a unique business opportunity, ladies only cabs. Even the large hardware chains in the US and Australia are capitalising on the needs of female target markets, providing DIY classes for those women who want to undertake their own renovations.  Finally Julie Porter is making a male dominated industry, female…. Julie created SHEdrives.  SHEdrives is about arming women with tools to keep them in control of their needs in the automotive world. Julie was motivated to start Shedrives because she felt the car industry wasn't doing enough to accommodate the needs of female buyers.  So what other needs do women have, which are being ignored?