In 1971 there were twice as many people in Scotland under 15 as there were over 65. A decade ago the figures were roughly the same. In 2022 this was reversed with the over 65s accounting for a quarter of a million more people than the under 15s. This is according to the latest Census data just released and the trend is predicted to continue according to statisticians.
Further data releases over the coming year will tell us more about how Scotland’s population has changed over the past decade – where they are choosing to live and with whom. Such data is important as it helps us to plan for public services. It is also a rich source of insight for market research.
Of course, the 65-year-old of 2033 is likely to be quite different to the 65-year-old of today in many ways from their health to their income, working life, family life and use of technology. But understanding the age profile of your customers, potential customers and future customers is just one bit of information that could help you to start to better align your service or product offering.
Having such data at your fingertips can help you to think about how your customer base might be changing, what their needs and preferences might be and where and how you need to communicate with them. At Pivot Lab we work with our customers to help them better understand their current customer base and to look ahead to understand how this might be changing. Embracing the role that market research can play in your organisation’s strategy is a key component of competitive advantage. If you want to find out more about how we can help you with this contact us at firstname.lastname@example.org