In 2020, 26% of total consumption in India will be driven by the country’s affluent households—a group that will account for 8% of all households by that year.
In order to gain a competitive edge in emerging markets, it is crucial to understand the changing patterns of and attitudes toward consumption among middle-class and affluent consumers (MACs). In many emerging markets, MACs are a sizable segment, driving the bulk of consumption growth—and presenting a compelling opportunity for companies.
The Center for Customer Insight has developed a proprietary methodology for segmenting MAC households in key emerging markets, including Asia, South America, and Africa. Our proprietary population-expenditure model forecasts the size of different wealth segments through 2020. In addition, we have conducted comprehensive consumer interviews to uncover the characteristics, consumption behaviors, and attitudes of these MAC populations.
Such knowledge allows companies to locate their sweet spots in these dynamic markets, anticipating when and where sales of goods and services are likely to take off—and when to adjust their product portfolios as households begin to trade up within categories. Companies that capture the consumer prize in emerging markets will be those that are best prepared for the evolving consumer demand.
Learn more about the Center for Customer Insight’s bank of proprietary data on emerging-market consumers and the power of using consumption curves to track where and when demand for your category will take off.