Demography on the Smart-card, Fast-food, and Travel Industries
Demography is defined as 'the study of human populations in terms of size, density, location, age, sex, race, occupation, and other statistics.'
There are a number of emerging trends that will have a massive effect on the smart-card, fast-food, and travel industries.
The smart-card industry:
Smart-card refers specially to the Visa Cash, Mondex, which are electronic currencies, as well as Octopus, which is the electronic travel ticket used in Hong Kong. Although they are quite new to us, the emerging trends also have a massive effect on them.
． An increasingly older population
In Short term, the increasingly older population does not change the industry very much. Most of the elderly do not understand the advanced and complicated technology of electronic travel tickets and electronic currencies. However, the senior citizen might know how to use the cards and accept them in long term. Then, they are potential customers. The trend has both positive and negative effects on this industry.
． An increasing number of women in the labor force
As more women join the labor force, they need to travel for work every day. Most of them might buy an Octopus and use it on the MTR, KCR East Rail, KCR Light Rail, KMB and Citybus. Also, the issuing companies of electronic currencies might have more female customers since they are as rich as the men are. The trend has positive effects on this industry.
． An increasing number of graduates:
Graduates are usually well educated and have high salaries. The can accept the smart-cards easily. Sometimes, they see electronic currencies as a symbol of status and eager to have one very much.
Besides, if more graduates are employed at the issuing companies, they can use their knowledge to improve the technology. They can expand the uses of the cards and make the processes simpler. Then, the general public might use smart-cards more. The trend has positive effects on this industry.
． An increasing trend towards small families
Small families have less financial burdens. Everyone is relatively wealthier than those of extended families are. They are willing to have electronic currencies because it is more convenient when shopping. The trend has positive effects on this industry.
The fast-food industry:
The fast-food industry is very prosperous since two or three decades ago. Every day, many students and workers having their breakfasts and lunches there. Some modern families prefer having dinner at fast-food restaurants than at home.
． An increasingly older population
Fast-food restaurants, especially the hamburger shops, are very popular among the youngsters. Old people dislike fast-food because they hate eating something with too much MSG. Also, as they are retired, they have more time to cook for themselves. Therefore, the older population might reduce the number of fast-food consumers.
Besides, if the average age of the employees in fast-food industry increases, the working efficiency might decline. The trend has negative effects on this industry.
． An increasing number of women in the labor force
The working class likes to have breakfasts and lunches at fast-food restaurants every workday. If more women join the labor force, some of them might become a part of the frequent visitors at fast-food restaurants. The trend has positive effects on this industry.
． An increasing number of graduates
Graduates usually have good jobs and stable salaries. They need to meet merchants at high-class restaurants and meet girlfriends or boyfriends at romantic restaurants. They seldom consume fast-food.
However, if more graduates are employed in the fast-food industry, they can improve the industry's management and marketing techniques. The trend has both positive and negative effects on this industry.
． An increasing trend towards small families.
Extended families may find go out for meal expansive and getting tables at fast-food restaurants difficult. They also treasure and cherish the opportunities of having dinner at home with the whole family. As the trend towards small families strengthening, all the points just mentioned might become less important. Small families have smaller financial burden and that they tend to eat at fast-food restaurants more. The trend has positive effects on this industry.
The travel industry:
The travel industry combines of internal traveling and external traveling. Every year, many foreigners visit Hong Kong and many Hong Kong people visit the other countries.
． An increasingly older population
People have longings to travel. Old people have much time to relax themselves after retiring. As the older population increases, more people might visit the mainland or go to the West. The trend has positive effects on this industry.
． An increasing number of women in the labor force
The travel and leisure industry might benefit from the increase in the number of working females, as family members now have money for travel. And as more women join the work force, the market for agencies specializing in business travel increases.
Besides, more women employed in the travel industry can improve the internal tourism. Female are more welcomed by the employers and customers of service industries than the male. So, the trend has positive effects on this industry.
． An increasing number of graduates
Graduates usually have money and have the desire to enjoy themselves. An increasing number of graduates might rise the number of people visiting foreign countries.
Besides, if the travel industry employ more well-educated people, its quality might become better. This can attract more foreigners to visit the city. The trend has positive effects on this industry.
． An increasing trend towards small families
Small families can live in a better way than the extended families. The parents can also take care of their children more. Most of these parents take their youngsters to the other countries for journeys every summer. This can help the external travel industry. The trend has positive effects on this industry.
References
The Open University of Hong Kong (1997) 'The Marketing Environment' in B250 Introduction to Marketing, Hong Kong: OUHK.