Knowing what consumers want is a crucial component to building a successful business. In emerging markets, consumers are changing rapidly and solid data can be hard to come by. The Center for Customer Insight, along with the Global Advantage practice, has a strong proprietary viewpoint on the who, what, when, and how of emerging-market consumers.
Consumer data in emerging markets is often incomplete, inaccurate, and unsophisticated in terms of segmentation. Companies risk making ill-informed or short-sighted decisions based on poor data. The Center for Customer Insight (CCI) has developed and regularly updates and expands a bank of commercially applicable consumer data across key emerging markets including China, India, Africa, Brazil, Southeast Asia, and Mexico—often at the city level. This data offers powerful insights and forecasts on consumer behaviour in growing and rapidly evolving emerging markets.
. The other half is in understanding what this data means for a company’s business in these emerging markets—and how it can help drive that business. CCI can help companies get to the heart of business challenges in emerging markets via proprietary data and local expertise. See some examples below:
A very effective use of proprietary data is the development of consumption curves. This information yields critical insights into the relationship between household income and household consumption. Understanding step changes in consumer consumption can lead to more effective strategies for penetrating emerging markets.