Generational change in Europe: How is the economy developing?
A recent analysis reveals striking regional differences in Europe’s age distribution: While Generation Z dominates in Aarhus, Denmark, the Greek region of Evrytania has the highest proportion of baby boomers. This demographic trend will have a lasting impact on the retail sector.
Demographic change is shaping Europe, with far-reaching consequences for the economy and society: While baby boomers are retiring from the workforce, Generation Z is entering the labor market, generating its first income and setting up households. This development varies greatly from region to region.
A recent analysis by NIQ Geomarketing for 37 European countries reveals striking differences in the age structure: in the Danish city of Aarhus and the surrounding region, Generation Z - people under the age of 28 - make up the highest proportion of the total population at 26.1%. This contrasts with the central Greek region of Evrytania, where baby boomers aged 60 and over make up the majority of the population at 54.0%.
This demographic generation gap will be particularly noticeable in the retail sector. While Generation Z is establishing new consumption patterns and prefers digital shopping channels, baby boomers often have established purchasing habits and greater purchasing power. This poses a particular challenge for retailers, who must adapt their offerings and sales channels to the different needs and preferences of both generations.
