The New World Marketplace
By Farnaz Wallace
Do you feel that? It’s the ground moving beneath you.
A rapid cultural shift has occurred over the last decade, but it’s not being addressed by businesses and leaders. For better or worse, the world of Mad Men is dead. In its place lives a world pulsing with a culturally diverse makeup of social models, relationships, businesses, and leaders.
Consider the following projections:
- China will soon be the number one English speaking country in the world
- The majority of the United States will soon be non-white
- For every two men graduating from college, three women graduate, with better GPAs
- 85% of all major buying decision are made by women
- The videogame industry is now bigger than professional baseball
Now more than ever, leaders and companies must find ways to stay relevant in a world that is fundamentally different from the one being taught in textbooks.
Simply put, The New World Marketplace is where people and technology come together to define a “we” that is fundamentally different in terms of race, ethnicity, cultures, archetypes, genders roles and youth mindset. It’s a place where rapid cultural shifts are creating long-term evolutionary changes.
It is not so much that the world is changing. The world is always changing, and trends are always a part of the inevitable evolution of business. It is the complexity and pace of these cultural shifts that has brought on the degree of change that is shaking up our society as we see it. And the path forward in to the next society is all about businesses and leaders managing the velocity of this transformation.
I break down these rapid cultural shifts into three major macro trends and forces:
- The shifting roles of women at home and at work
- The new values and ideological power of youth culture (Gen Y)
- The growth and influence of multicultural consumers and societies
In my book, The New World Marketplace, you will see the societal transformations clearly, and gain the tools that address them, both professionally and personally. Your eyes will be opened to the possibilities for new social models, leadership, and of course business models that will succeed.These three macro trends—once considered small niches—are now major target markets, and businesses must communicate to them in order to stay relevant and successful. The combination of these three macro trends not only defines the way the world is today, but it has also shaped and created The New World Marketplace for businesses. Think of it this way: The New World Marketplace is an uncharted sea into which three separate societal rivers converge. These are the waters your business will have to navigate if you want to survive the next three to five years.
About Farnaz Wallace
Farnaz Wallace is the Founder & CEO of Farnaz Global, LLC, a boutique consulting firm focused on helping businesses and social leaders embrace and capitalize on rapid cultural macro trends. A thought leader, speaker and consultant, she is the published author of the book, The New World Marketplace – how women, youth and multiculturalism are shaping our future. For more information, visit www.farnazglobal.com