While Canada and Quebec are facing the inevitable aging of their populations, another demographic upset is on the horizon. With the number of Baby Boomers in decline, an era is coming to an end. The generation that has been moulding society for over four decades is passing the torch on to a younger cohort. And the first to grab hold of it will be Millennials (or Generation Y), who by 2029 will represent the largest age bracket in the country. In Quebec this transition is less advanced than elsewhere, but the underlying trend is the same.
The younger generations are becoming more powerful in Quebec
Source: Statistics Canada. Table 17-10-0005-01 Population estimates on July 1st, by age and sex, calculations performed internally
If Gen Z and Millennials are playing an increasingly important role, it’s mainly due to the arrival of new immigrants to the country, who are filling out their ranks. And unsurprisingly, it’s in urban centres that this phenomenon is most visible.
Millennials are the dominant generation in urban centres
(Share of cohorts within total population by city)
Source: Statistics Canada. Table 17-10-0005-01 Population estimates on July 1st, by age and sex
Now it’s young people’s turn to dictate the rules of the game
The values and customs of Generations Y and Z, which had previously been viewed as unconventional, will now assert themselves as the norm.
The paradigm shift is far from just anecdotal
Sources: Statistics Canada. Table 17-10-0005-01 Population estimates on July 1st, by age and sex, calculations performed internally / Journal de Montréal, Retourner au bureau à temps plein? Plutôt démissionner!, February 2022
Households are changing
Amongst the changes brought by young adults is the normalization of lifestyles and living arrangements previously considered non-standard.
Today’s new normal is living alone
Source: Statistics Canada, Home alone: More persons living solo than ever before, but roomies the fastest growing household type, July 2022
The census figures are unanimous: all kinds of alternative lifestyles are represented in bigger numbers than ever before, whether it’s apartment-sharing, households combining adult children and their parents, or fathers raising their children on their own. This diversification is going to make the typical 25-54 household profile so prized by advertisers suddenly feel old. Now the industry is really going to have to do its homework!
Brands and companies need to adapt to this new reality
Sources: Statistics Canada, Home alone: More persons living solo than ever before, but roomies the fastest growing household type, July 2022 and Astute Analytica, Leisure Travel Market, Industry Dynamics, Market size and Opportunity Forecast to 2027, January 2022