BFM radio
In an exclusive interview with BFM radio, Head of BCG’s Center for Consumer Insights (CCI) in Southeast Asia, Aparna Bharadwaj talks about the mass affluent of Southeast Asia – a new rising category of consumers who control 20-40% of the wealth in the region, but are nothing like the lavish spenders and high-net-worth individuals from the hit movie “Crazy Rich Asians”.
For decades, the dominant economic trend in SEA has been the growth of the middle class. But as countries’ GDPs have continued to rise, this large middle class has started to graduate to the affluent class. Now, the mass affluent class is growing twice as fast as the middle class, and Bharadwaj expects the pace to accelerate.
