Will the French mature as well as their wines?

"Older, smarter, poorer: The French consumer transformation" is the title of an article appearing in this edition of the McKinsey Quarterly. Much of what it says can be applied to the UK and US.

This quote gives a flavour for the article's content

We found three long-term trends reaching a tipping point that will fundamentally transform the country: an aging population, societal shifts altering what households look like, and economic factors slowing the expansion of wealth. As these trends sweep across France and, to varying degrees, the rest of Europe, they will impose pressure on consumption growth and dramatically change the consumer landscape.

I thought this graphic is a great way of showing what product types are 'exposed' to the ageing population. Look at the top of the list (Recreation). It would appear that all of the growth will come from the 55-plus. Thanks for Kim Walker for telling me about the article. Dick Stroud