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This phenomenon of high growth in demand for new goods and services due to the shift indemographics can also undoubtedly be related to Maslow's hierarchy
This phenomenon of high growth in demand for new goods and services due to the shift indemographics can also undoubtedly be related to Maslow's hierarchy of needs model wherein it can be observed that as the population grows and the income per capita increases for the general Australian population there starts to be a shift in consumer behaviour(Cui et al.,2021). The new demographics will lead to a high interest in goods and services that provideand cater to aesthetic needs, esteem needs etc as a consequence of the basic physiological andsafety needs already being largely fulfilled(Cui et al., 2021) paraphase
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