The changing face of the British shopper could leave stores trailing in the race for high street dominance.

Retail consultants Verdict said shopkeepers were responding too slowly to the changes in spending and continued to target the market as though it had remained static.

The company said despite a healthy economy and affluent consumers, customer demand was weak as people found other things to spend their money on. And as retailers battled to attract customers, it was vital they understood how shopping habits are changing.

Verdict said over the next decade there would be more people over the age of 55 than under 25.

Although the number of young people is falling generally, this decade is set to see the number of 15 to 24-year-olds leap.

They will be more well-off than any young generation since the Sixties, heralding good news for fashion and personal care retailers.

But while the number in that age bracket is set to grow, there will be a dramatic drop in the number of people in their late twenties and thirties, hitting mainstream retail brands and sales of household or DIY products.

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