The Population Of North America Essay

1527 Words Nov 19th, 2014 7 Pages
Demographic The population of North America is one that is aging rapidly. Overseas markets such as those in Asia and Latin America are beginning to emerge. Firms within the industry will need to create products to take advantage of the demand and purchasing power of this market segment. Firms need to expand globally if they wish to attain business from a younger population. Those wishing to remain in the North American market will have to develop product lines to fit the aging population. Individuals lifestyles become more sedentary at this stage which will require products that accommodate those with larger waistlines and larger fitting clothes. A diversified product portfolio will help firms compensate if they cannot meet this need. Women in this demographic will start to demand products that sacrifice style if they cannot get the comfort and functionality from the same product. Furthermore, there are economic changes that are arising within the North American population. “Women account for 85% of retail purchases” so the purchasing power of women cannot be ignored. If the aging women are discounted, firms in all industries will be at risk of losing market share to those who modify their sales efforts to meet their demand. More women are also attending college in the United States. Though wages are still not on par with me, women are putting themselves in a position to be “bread winners” for the household and will command the financial means to direct a give industry.…

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