Introduction The retail industry is generally a very dynamic, fast changing sector. It constitutes one of the main sectors in the economy, in terms of transactions and turnover; as a consequence, it is a highly competitive and sophisticated industry. Companies have to be constantly monitoring the market, to identify any new trends on a timely fashion and, above all, they have to keep up with the customer’s increasing expectations and changing tastes. Nowadays, it is becoming more and more difficult and challenging to keep the customer satisfied and loyal - customers’ preferences change quickly. The lowering of international barriers has led to a considerable increase in the number and type of products available to the consumer. Consumers have definitely acquired more freedom of choice and this makes them less likely to retain brand loyalty; especially when several substitutes, of equally good quality, are available on the market. Furthermore technology - the advent of internet - has added a new dimension to the shopping experience. Consumers can easily and fairly quickly compare online, product specifications, price and availability (Deloitte: 2005 Global Powers of Retailing, Jan 2005). Thus, it allows them to gain information faster on the purchase they wish to make. Consequently, retailers have to be as creative and innovative as possible, in order to be in the position to supply their customers with products, that present new and interesting features, all the time. Retailers have to keep a close watch to demographic changes, in order to better understand and predict consumer behaviour (Deloitte: 2005 Global Powers of Retailing, Jan 2005). General demographic trends. The following trends feature mainly in the Western world and provide a useful insight to cons ...