Rural areas are older, but also have a clear secondary peak among younger age groups. The ‘hollowing out’ effect of Rural to Urban migration among those aged 20-30 is particularly clear.
The general shape of the population pyramid has major implications for the provision of state services. The education sector is one clear example, it will see increased demand initially for secondary school places, and then third level places, as the bulge centred on children aged 4-8 in 2016 works its way through the education system.
As we saw in last month’s release of the Household Budget Survey, there has been a huge reduction of almost 30% in household expenditure on alcohol purchased away from home in the last 5 years. The ageing of the 70’s / 80’s cohort might have played a significant role in that reduction, as they move from their hedonistic 20’s into their more family orientated 30’s.
These shifts in demographic and expenditure patterns also have a direct impact on our high streets, as retailers adapt to changed demand. Analysing and modelling these patterns is a core capability of our Storecast™ platform, and we will be updating that with detailed demographic and expenditure data in the coming weeks.