If you’re in the business of marketing in any shape or form, I’m sure you know just how important it is to understand and harness the megatrends impacting your business.
The infamous BCG (Boston Consulting Group) has been studying the megatrends shaping our worlds for a number of years. It defines this simply as those elements that “hold the power to reshape the landscape of economic opportunity and risk.” And there are many that continue to exert tremendous impact…
According to BCG, 62 of the 78 megatrends it monitors continued to grow during the recession in terms of influence on markets worldwide. Many bearing heavily influence on the performance of multi-million dollar industries.
Trends that have strengthened:
- Technology: Growing online usage; transition to mobile
- Health and wellness: driving organics; nutraceuticals
- Demographic shifts: ageing population in developed economies; middle-class growth in rapidly developing economies (RDEs)
- Downsizing consumption: trading down
Overall, BCG highlights two ‘cluster trends’ that are pivotal to many industries:
- Asian ascent: Underlining the rising power of RDEs, growing consumer affluence and the power of companies within these economies
- E-migration: Reflecting the fast migration of commerce from physical to online channels. This is obviously a biggy in terms of the extent to which it is quite rapidly reshaping industries, not least publishing.
The full BCG Focus report is called Megatrends: Tailwinds for Growth in a Low-Growth Environment. More details on how to get hold of a copy here.
