We recently hosted a webinar with renowned demographic expert and journalist, Bernard Salt. Bernard answers our panelist's questions below:
Where do you see the biggest opportunities for businesses in the future?
The employment numbers tell the story. Biggest growth opportunities are in Care, Logistics, Health and possibly Defense.
What are the key issues for businesses in the next five years?
The biggest issue, in my view, over the next 5 years is access to skills and labour and also the impact of, or the opportunity from, digitisation.
Thinking about B2B organisations, what are the top three things we should be planning for to reach customers into the next 5, 10 years?
Make sure your systems are fully digitised. Diversify your supply chains. Make sure your inputs comply with social licence norms.
How does technology play a part in the sectors that are showing the most growth e.g., warehouses & distribution?
Warehousing can only increase as more shopping is done online… the big issue is that at the moment this is driving demand for labour (eg storepersons) but eventually this process will be fully automated.
If the Customer of the future is surging with young students do you predict any changes in buyer behaviour aside from housing with these surges?
More students mean more demand for rentable apartments near universities. In the longer term more uni graduates translates into knowledge workers who are likely to want full home ownership.
Growth in store persons – customer of the future relies on buying stuff online – do you think this will crossover to industries not traditionally selling online?
I think that Australians have become accustomed to buying goods online; the next iteration will be the delivery of services eg GP appointment online. It’s already here but it will become more common.
You talk about the great appification – do you think we will see more unconventional products and services going mobile?
Yes, the Australian customer will demand access and interaction immediately including via chatbot!
If we do see an increase in the migration of skilled workers, what should businesses be planning for in the short term and long term?
More skilled workers in the short terms means more pressure on rentable property; this could convert into a surge in demand for build-to-rent as a solution.
I love the point about a growing appetite for trust and authenticity. In an increasingly digital world how would you advise that trust and authenticity can be achieved?
Simple, from a business point of view. Act and behave as everything you can be at any point made public trough social media. Create and support a business model that is ethical, transparent and generous to staff and customers!