French Households Getting Older and Less Wealthy Jun 15, 2010

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Societal changes mean that the average household in France 20 years from now will be older and better educated, but will also have less money than the average household does today according to a new McKinsey & Company report.

The report shows the number of French households to rise from 27 million in 2007 to 33 million in 2030. The average age will rise from 40 in 2007 to 43 in 2030.

Changes in the makeup of households will shrink the annual growth of consumption in France (after housing and utilities) to 1.4% by 2030 (it was 2% 1980-2007).

The McKinsey & Company report predicts that, in 2030, French consumers aged 55 or older will account for 33% of the electronics market (compared to 23% in 2007) and 43% of the communications (34% in 2007).

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