Social Factors

Question 1

What are demographics?

Answer 1

Study of population

Question 2

What is the ageing population?

Answer 2

2017 - first year that retired population have more disposable income than working, people living longer, market for retired people

Question 3

How does a reduction in people being born impact business?

Answer 3

Women working more, having children later - child market falling, women more disposable income

Question 4

What is the trend in employment rates?

Answer 4

2016 - Mote women employed than men - spending power of women up

Question 5

What is the trend regarding 18 year olds?

Answer 5

Reduction in the number of 18 year olds, more bargaining power for uni, part time jobs, less demand for some businesses

Question 6

What is the trend regarding migration?

Answer 6

Net migration high into the country = niche markets, impacts labour market

Question 7

General trends?

Answer 7

Internet usage up
Social media usage up
Leisure time up