Adding facts, such as population CENSUS data, will help define and validate your business roadmap.
Maps.
We all need maps to know how to get to where we want to go. Who wants to spend hours and hours trying to figure out the best and fastest route to a destination? It’s a waste of time, resources and to be honest, will drive us crazy.
In life and in business, we need maps to plan and execute our visions. We need to know where we are (our starting point), where we want to go (goals) and the best way to achieve this, given the current landscape of where we are.
Samantha (the student): What course should I take in university to give me the best success in landing a job after I graduate? From 2011 to 2016 the job market has changed dramatically.
Jo (the general manager looking at opening the company’s next store in the Sutherland Shire): I want to open our next location in the Sutherland Shire. What’s the best location to align to our typical customer?
Henry (the middle-aged employee): I need to have enough money to retire but I will probably have to work longer. What and where are my best prospects for a better job?
Katherine (the mother): I am a full-time mother with a degree in Biology. I’m wanting to find a part-time job. Where should I be looking? Are there opportunities for me?
David (the migrant): What cities should I be investing time/resources in for living, hiring or starting a new business? What’s the best kind of business to open?
Samantha, Jo, Henry, Katherine and David are like millions of Australians that need a “map” to guide them on where to go. That map that tells us about today’s Australian landscape is the CENSUS. It is vast but having these questions ready will fast track your search for the answers, and will clearly show you what real opportunities are out there.
Knowing what you want, what questions to ask and then where to look, are the key first steps.
The CENSUS emphasises the need to take more notice on what’s happening around us – both on a personal and professional level – to better understand what you want, or what you need to know.
More than 95% of Australians participated in the 2016 CENSUS*, providing us with a wealth of information about today’s Australia. This valuable and current data allows us to have a clear picture of who we are as a country, and where we are headed. With a population increase of 11% from 2011, it’s interesting to know that Australia is more ethnically diverse than ever – with England, New Zealand, China, India and the Philippines the top 5 countries of birth for people living in Australia.
In terms of where they reside, the data shows that people with the same ethnicity tend to live in the same areas, take Sydney as an example: Haymarket-Rocks having a majority of Chinese at 24.5%, Sutherland Shire – English at 27.6%, Harris Park – Indian at 39.4% and Rooty Hill – Filipinos at 18.2%.
These people bring in their influence and culture to each area, which contributes to the development of the community.
What do these statistics mean?
It means we are growing in interesting ways. We are a melting pot of various backgrounds and this is what makes our population and workforce so rich and interesting.
The facts gathered allow us to identify opportunities for certain groups of our society.
For example, of 30-34-year-old women who are bachelor degree qualified, 51% have children. This shows that one in every two women who are highly educated have children at this stage in their life, which poses the opportunity for employers to harness high-level skills by creating flexible work opportunities for young mothers.
There is also a big opportunity for the ageing population, as Australians are living longer. Did you know that 1 in 6 Australians are over the age of 65? This highlights opportunities and needs for services and products geared towards the older market. It also may mean that there’s an opportunity to harness the knowledge and experience of more mature individuals that may need casual or part-time work or volunteering opportunities.
We are also able to see which industries are enjoying rapid growth, such as health and social assistance (growth of 15.7%) and education and training (growth of 15.1%). On the other hand- manufacturing is on a 24.3% decline from 2011, and wholesale trade is down 0.3%. We can see where Australia’s needs are and the trends moving forward.
The CENSUS is brimming with rich and valuable information about who we are as a nation. It’s real, accurate and best of all, current. The key is to use it as a tool to maximise opportunities, make better decisions and save on time and resources.
NRA in partnership with MarketMap can help your business understand data such as the CENSUS and how it can be used to discover new opportunities.
Contact NRA for information on 1800 RETAIL (738 245), or MarketMap on 02 9436 3820, or visit www.marketmap.biz.
MarketMap has just released their new and updated reports with the latest CENSUS and other data, such as daytime population and consumer spend data. MarketMap also provides consumer lifestyle data.
Source: 2016 CENSUS, Australian Bureau of Statistics