While BRIC countries—Brazil, Russia, India, and China—are now widely diverging in their economic prosperity, they are still an important source of growth for many companies due to their sheer size and potential scale. But there are takeoff growth opportunities in many other emerging markets, such as Indonesia, Mexico, Turkey, or Sub-Saharan Africa, whose growth rates now match the BRIC average.
Many Beyond BRIC markets are experiencing strong economic and demographic shifts and solid economic development and trade conditions. They are poised for takeoff in consumption across critical categories, including home goods, vehicles, consumer durables, and financial services. For many industries, these rising regions will form a leading source of consumption growth. Often.
Beyond BRIC markets, and the many micromarkets within them, require a customized approach. However, the speed at which they are moving is compelling companies to act now, during this critical window of opportunity.
There are two primary challenges for companies: