Half the world’s population lives in emerging-market countries, but these are not a homogenous set of markets. As consumers gain purchasing power, their needs and wants evolve more quickly.
Competition in these markets is intense. Without a solid understanding of consumers, companies risk diverting resources into ineffective areas of markets and sacrificing the opportunities they had hoped to gain. Investing in the wrong consumer insight approach or relying on incomplete or highly generalized data can lead to costly inefficiencies, short-term losses, and long-term disadvantage.
The true challenge at hand is how can companies decipher the "who, what, where, why, and how" of emerging-market consumers—and put those answers to use to unlock the growth opportunities in these dynamic markets.
The Center for Customer Insight’s wealth of propriety consumer data, derived insights, and local experts in these regions are pivotal in accurately prioritizing, clustering, and deciphering consumers.