The world is changing. You probably knew that already so it isn’t a profound statement. But how much time do you spend on assessing how the changes happening in the world will affect you? Most of us are too busy trying to figure out how to make all the changes of today work let alone worry about 10 to 15 years from now!
Here are some things to think about:
Population demographics are changing. The western world is no longer replacing itself. Most couples are producing only 1.3 children. Countries need growing populations to have customers to buy their own products and services but also to have productive citizens to produce the products and services and finally, we need citizens who are producing to pay taxes and keep the infrastructure solid.
What does this mean for us in the future? Well, as our baby-boomer generation dies off it means fewer clients for us in the future and it also means that fewer stylists will be entering our trade. It also means that there will be fewer salons in our neighborhoods. Changing demographics will have a huge influence in how we market to our clients.
Statistics say that by 2020, 80% of the population will be over 50.
The “Boomers” will have a lot of power. They will stay in the workforce far longer than past generations.
–What are you doing as a business owner to capture and keep this aging population?
-What marketing strategies will you implement to keep your aging clients happy?
The fashion and trends that attract the younger generation will not be appropriate for your boomer client. It is important to keep these changing demographics in the back of your mind as you are planning your staff training and developing your creative futures. In consideration of these facts, it should change the way we move forward, not only in marketing but also in the recruitment of new stylists to the industry. More and more of our manufacturing is moving off the North American continent, which doesn’t seem like such a bad idea for some of the third-world countries. It brings them an internal economy that is more in keeping with the rest of the world.
But there are long-range consequences for us with this shift of power. It will affect our markets, our standard of living, our standing in the world, and our overall economy. Where will our economies come from? With the increase of cyberspace use we will see more and more business going online, and online consumerism increasing.
Think about yourselves – how many of you purchase products and services online?
This is great news…for us – when was the last time you got your hair, cut and colored online?
But wait just a minute…. Don’t pat yourself on the back too fast, because there is a website where you can actually order a custom color and have it shipped to your home! Gives a whole new dimension to “home color”! The other dimension to the ever-increasing cyber-world is your own presence in the marketplace.
- Do you have a web presence?
- Have you made it easy for your clients to book on-line?
- Do you have your products and services listed on your website?
- Can your clients buy products on your website?
- Can people buy gift certificates on line?
All of these aspects are becoming increasingly important, even in our “not-so-technical” industry! Vagaro salon software can keep you on the cutting edge of all the latest technology for continued business success! As we plan the future of our businesses we need to keep these trends, front and center in our minds. Forewarned is forearmed!