Emerging-Market Consumers: An Analysis of the Current Trend

The world is becoming increasingly interconnected. As the global population becomes more and more connected, it’s not just information that is being exchanged – but also culture. One of the most interesting examples of this phenomenon has been the rise in emerging market consumers. These are people who have grown up in countries where modern conveniences like electricity, running water, and automobiles were unavailable for many years. In recent decades, these markets have become highly lucrative because they represent a huge chunk of potential new customers for multinational corporations across all industries; however, there is no standard definition to define an “emerging market consumer“.

The New Consumer

The rise of these markets, coupled with the lack of information and understanding about them has led to misconceptions that are both harmful and inaccurate. These consumers might be thought of as being uneducated or poor because they live in areas where cash is necessary; however, this couldn’t be further from the truth – many have found a way to “leapfrog” by skipping past landlines for cellphones, for example. They may also not have had access to certain goods before but due to their newfound economic stability (or even prosperity) now can afford items like cars or computers.

This misunderstanding has created significant challenges when it comes time to market products and services towards these new customers who don’t yet know how Western corporations work. It’s important for corporations to take the time and invest in understanding these markets before deciding that they’re not worth their investment.

Globalization

This is a great example of how globalization has created new opportunities for corporations but also requires them to be more aware than ever when it comes to diverse populations. Activities like this are necessary if we want our world to become one big, interconnected circle where all people have access to what they need without money or proximity being an obstacle.

The internet has made us much closer than ever before – it’s now up to each individual corporation on whether they’ll use this opportunity for good or evil.

Lastly, as emerging-market consumers continue growing into the future, so will their socioeconomic significance!

International Markets: What Do They Look Like?

The global economy is at a crossroads. Economies across the globe are slowing down, and growth rates in emerging markets have slowed as well. The International Monetary Fund (IMF) estimates that only two of fourteen major economies will grow faster than China’s next year—Japan and India. In 2016, Japan’s GDP grew by 0.75% while India’s increased by roughly seven percent; it was up about 12%. As for China, its rate has dropped to six percent from over nine percent last year.[I] Over recent years, there had been an intense focus on “emerging market consumers”—those who were purchasing more goods or services. Research has shown that these consumers are growing in numbers and their purchasing power is increasing.

Emerging-Market Consumers: An Analysis of the Current Trend

Understanding the current trend of emerging-market consumers How they’re changing with time and becoming more important in our globalized world, as well as what advantages do they bring (and disadvantages) when it comes down to business opportunities for corporations.

What Do These Consumers Look Like?

Emerging markets are becoming increasingly valuable for companies, as they represent a growing number of consumers and an increasing amount of income. The McKinsey Quarterly found that from 2005-2015 emerging economies accounted for two-thirds of all the world’s middle-class growth. These countries also account for about one-third of global GDP, according to Goldman Sachs Group Inc.

The perception is often that these markets just export raw materials or provide cheap labor in factories making products destined for richer nations, but this is changing with those living in developing countries gaining purchasing power more quickly than their counterparts elsewhere on earth. One example: China has been paying out pensions since 1997 when it introduced its rural pension scheme (later renamed “New Socialist Countryside” by Deng Xiaoping). The rural population is still largely agricultural, but they’re gradually moving to urban areas in search of better opportunities.

This Trend Will Continue to Rise

This trend will continue as these economies grow and populations age. In 2030 the percentage of consumers over 50 years old in developing regions will be nearly double that of developed countries, according to a report by McKinsey & Company’s Global Institute. This means companies need to start thinking about how this growing middle class influences their marketing campaigns for different products and services such as healthcare or retirement planning, which are already considered more expensive than traditional Western markets.

Companies from all industries should also take into account demographic trends when creating advertising strategies; considerations like gender roles can change with an increase in education levels or changing economic dynamics within families.