Demographic change bolsters private consumption and SME growth

Older consumers want different products and services – and their numbers are growing. Demographic factors such as population ageing can be important to boost consumption demand and growth. Roughly one fifth of today’s restrained growth in turnover in the SME sector can be attributed to demographic changes in demand. This is the finding of a special analysis conducted with the KfW SME Panel. There are also signs of investment stimuli because enterprises are under pressure to respond to changing sales markets.

Demographic change bolsters private consumption and SME growth