Challenges That We Will Face by 2025
One thing that remains constant with time is change. We see this manifesting as growth, movement of people, and evolution of trends. No doubt, this has much impact on socialization, global brands as well as the categories of consumers. With such growing trends and the associated evolution in science and technology, we can draw a possible prediction for the future.
By way of proper research and logical analysis, we have carefully selected 3 prominent challenges that we are likely going to face by 2025. Let’s look at them;
Ageing population
Due to the developing healthcare and policies, people tend to live longer than the average life expectancy. This means that those over 65 years of age will become a wider age bracket while making up a higher percentage of the population. With such increasing presence of the elderly, they are able to continue their role in the society. Most of them would desire to experience more than their ancestors could at their age as they continue to work past their retirement age. Again, with such increase in the ‘centenarians’ there is bound to be a drastic change in market brands in order to accommodate the needs of the ageing population.
Social media growth
The social media has gradually become part of us. We almost cannot resist the urge to browse, use or digest info on social media irrespective of our demographic. According to Forrester Research Inc., a leading trend forecaster, the global usage of mobile device is expected to reach over 5.5 billion users by the year 2022. Since the advent of social media in our society, there has been a tremendous change in our daily lives. We can see that in the ultimate elimination of communication barriers leading to the ease of access to information, global market in terms of consumer and brand communication, and job role creations.
It is important for companies to understand how to interact with the public when conveying their brand values and personality, if they want to become a leading brand. If they want to go ahead of their key competitors and captivate the audience, then they should be able to predict, to a large extent, the trends and the ever-changing landscape of social media.
Technological advancements
The 21st century technology boom has been marked with a chain of revolutions across various sectors. With this trend, emerging technologies of today such as AI the VR and will be a part of our daily life by 2025. There’s a massive development in the AI that it may soon replace today’s conventional processes. The healthcare and retail markets sectors tend to feel the most impact.
For brands to stay ahead of the competition, they must learn to adapt and response effectively to the changing market. There is the need for companies to invest in growth analysis, consumer prospects, and research in brand extension outcomes and trends in the evolving markets.
There are lots of other predictions in addition to those mentioned so far. However, with the growing trend, there’s bound to be digital and social changes which may evolve beyond predictions.
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