Focusing your pharmacy’s marketing efforts on your best customers—those niche customers in your specific area—is advantageous, but staying familiar with current census trends can also keep your marketing fresh.
Awareness of current census trends can help you determine how to reach new markets, define the best ways to market your products and services, recognize opportunities for growth, differentiate your business from the competition and more. The following five population trends are ones to watch closely.
1. An aging population
As the baby boomers age, our population has shifted to an overall older population. This trend is especially noteworthy for the pharmacy industry, as older patients likely already make up a good chunk of your customers—and will continue to do so. When you market new services, stock your front end, design your website or do any other marketing-related tasks, be sure to keep this significant population shift in mind.
2. Increasingly dispersed cultures
More foreign-born people exist in the U.S. now than any other time since the early 20th century. Unlike in the past, new immigrants are less clustered in specific areas and more spread out across the country. Interestingly, suburbs are seeing increased minority groups. In the past, minority groups tended to collect mainly in big cities. This cultural trend might already be shifting your pharmacy’s customer base, or it could potentially do so over time.
3. A growing Latino population
New immigrants aren’t the only group on the rise. Mexican, Puerto Rican, Cuban and Central American populations are also growing in the U.S.—but more so from those born in the U.S. than new immigrants. In fact, while Spanish-speaking is common, a growing segment of younger Latino individuals don’t speak Spanish. If your pharmacy has a significant Latino segment, you could improve your marketing by thinking of the Latino segment as multiple markets, not as a one-size-fits-all group.
4. Multiracial identification
While still a relatively small sector, many Americans are increasingly identifying themselves as members of more than one racial group. Understanding this trend could be beneficial if your pharmacy is looking to target multiple cultures at once.
5. Migration to the South and West
As the country continues to “fill out,” a noticeable shift from the more densely populated North and East to the less filled South and West is occurring. As the overall population migrates, your pharmacy should pay attention to the specific movements and changes in the populations around your location—and update your marketing efforts accordingly.
