Implications of Demographic Change for the Retail and Service Sector
By Dr. Tony Hernandez and Doug Norris
Canada's demography is changing. The population is ageing. Our multicultural nation is increasingly relying on immigration to sustain growth. The divide between the rich and poor is widening. Population growth across the country is uneven with our major cities sprawling and many smaller markets losing population. These demographic changes, amongst many others, serve to collectively define the consumer and therefore are critical to understanding the Canadian retail market. The aim of this research report is to provide a selective summary of the major findings from the 2006 Canadian Census - the statistical portrait of the population. What are the key demographic trends in Canada? Which areas have experienced the most significant demographic change? What is driving these changes? How will retail organizations operating in Canada be impacted? This report looks at the Census through the lens of the retail and service sector, dissecting the key findings, and exploring what it all means for Canadian retailers and the consumers they serve.