Changing Demographics: Adjusting to a new reality

Retailers today are confronting a series of demographic changes, most notably wage stagnation. About 60 percent of retailers responding to a recent survey conducted by Retail Leader cited stagnant wages as the shift having the largest impact on their business, followed by an aging population, new immigration and adult-only households.

More than three-quarters of respondents said they have changed their product mix due to demographic changes, and more than two-thirds have adjusted their hiring strategies.

Have you altered your product mix due to changing demographics? Which demographic change is most impacting your business today? Have you changed your hiring strategies due to demographic trends? How would you describe current business conditions? Where do you expect to see business conditions for the next six months?