Consumer & Retail
creating success for tomorrow
The industry
The Australian Bureau of Statistics predicts that Australia’s population could reach around 32 million people by 2035, an increase of around 4.6 million people from the estimated population of 27.4 million in 2025.
This has implications for policy makers, businesses, and retailers, who will need to adapt to changing demographic and behavioural trends in order to meet the needs and expectations of the population.
Key trends shaping the future of the population include:
1
Ageing Population and Shifting Consumer Needs
Australia’s ageing population is driving demand for specialised products and services, particularly in healthcare, wellness, and aged care. Retailers are adapting to meet the needs of older consumers by offering accessible product designs, in-home services, and technology-driven health solutions that promote independent living.
2
Cultural Diversity and Inclusive Consumer Strategies
As Australia becomes increasingly diverse, brands are recognising the importance of tailoring products, marketing, and customer experiences to reflect this multicultural landscape. Companies are developing more inclusive product lines and communications that resonate with a broader range of cultural preferences and values.
3
Education, Employment, and the Knowledge Economy
As the population becomes more educated and workforce participation increases, consumer expectations are evolving. There is growing demand for personalised, high-quality products and services that reflect consumers’ education levels, financial status, and lifestyle preferences. This also influences a stronger focus on upskilling and reskilling in retail labour markets to meet the challenges of a tech-driven economy.
4
Technology and the Rise of Omnichannel Retail
Technology continues to reshape the retail landscape, with omnichannel strategies becoming essential for businesses. Consumers now expect seamless, integrated experiences across both online and in-store channels, driven by innovations in artificial intelligence, augmented reality, and mobile commerce. Retailers are investing in tech solutions that enhance customer experience, such as AI-driven personalisation and automated fulfilment.
5
Social Responsibility and the Sustainable Consumer
Consumers are increasingly prioritising sustainability, ethical sourcing, and corporate social responsibility in their purchasing decisions. Retailers are responding by offering eco-friendly products, reducing plastic use, and adopting circular economy practices. Transparent supply chains and certifications for ethical business practices are becoming essential for brands to build trust and loyalty.
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FAQ’s
Market research provides insights into shifting consumer preferences, purchasing behaviours, and product trends, helping companies develop products and retail experiences that meet evolving market demands.
Fifth Quadrant can access a diverse range of audiences, including everyday consumers, brand loyalists, category switchers, retail buyers, and in-store staff.
Common methodologies include customer journey mapping, brand health tracking, product concept testing, in-store observation studies, and customer satisfaction and loyalty analysis.
AI is reshaping market research by advancing sentiment analysis, predictive analytics, and streamlining data collection and processing. These capabilities enable faster, data-driven insights, helping businesses adapt quickly to market changes and enhance customer engagement.
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