These days there’s a lot of buzz about emerging markets and the massive opportunity brewing across Asia, Africa, Latin America, and Eastern Europe. It’s not just about BRIC anymore; today, terms such as MIST, VISTA, CIVETS, and N-11 are being used to describe one main theme – the emerging world should not be ignored.
Why is this rapid growth a source of excitement for marketers? It’s simple – the key tenet of marketing is to “Focus on the consumer”. Over the last decade, the size of the emerging market consumer base skyrocketed and was assigned the moniker of “the next billion.” The size of the global middle class is projected to increase from 1.8 billion people to 3.2 billion by 2020. Accompanying this increase in size is a rise in middle class spending from $21 trillion today to $51 trillion in 2030. The new middle class consumption in developing Asia by 2030 will be greater than the consumption of every middle class consumer on Earth today.
Given the massive growth opportunity in emerging markets, marketers need to re-orient their thinking from New York to New Delhi.
The objective of this infographic is to highlight this opportunity and frame why we at Jana are excited about our solutions for marketers. Let us know what you think!