Unlocking Demographic Patterns to Understand Sales Trends

For many people, studying economic and demographic data can quickly lead to glazed eyes. But for Bricklin Dwyer, senior vice president of economic and market insights at Mastercard, studying data can reveal patterns that can inform and help drive retail sales. During his presentation at the summit, Dwyer showed how various data points can paint a picture of where the retail industry stands and where it is headed. Dwyer said he focuses on “patterns of consumption” and shared notable trends and some trivia data points — such as 2019 being a record year for people celebrating 30th birthdays. Dwyer shared “population waves” that showed where various demographic cohorts stood over time. “Understanding where the population is, in terms of total scope, such as where people live, where they move, get their first home and get married and have children, matter because it reveals patterns of consumption.” Coupled with broad trends such as trade wars with China, wage growth and other macroeconomic factors, these show where “consumers are” in regard to spending. By way of example, Dwyer pointed to a spike in the population chart, “a pop of 25- to 27-year-olds,” he said, who have some interesting behavioral patterns. Dwyer described these Millennials as the

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