A slower birthrate, the aging Baby Boomers, a record number of retirements due to the COVID-19 pandemic and slowing immigration. All these factors are having a profound impact on the U.S. economy and future GDP growth. In this episode, Wayne Best, chief economist at Visa, shares his findings from a new white paper, The Golden Years Planning for the Changing Face of the United States. Find out how your businesses can prepare for these changes.

Skip ahead to these topics:

1:02 – About Wayne’s background

1:40 – What inspired the new white paper, The Golden Years: Planning for the Changing Face of the U.S.

2:46 – The main findings about key populations shifts

5:40 – Is a decline in GDP inevitable?

8:35 – Will record number of new business formations offset slower growth

10:00 – Our spending habits are predictable; adjust your marketing

13:00 – Segmentation is back and is necessary for your business

15:00 – Boomers will no longer be the biggest spenders, but still relevant

17:25 – Biggest surprise of research: businesses’ focus on millennials

18:50 – Predicted growth patterns are not destiny if we change rules

20:30 – Anticipate shrinking market by growing new segments

Read more insights at visa.com/economicinsights