Today, we have released a new white paper by Survey Manager Eileen Bevis and Sarah Boumphrey, Head of Countries and Consumers Research entitled "Reaching the Emerging Middle Classes Beyond BRIC".
In 2013, emerging markets are home to 85% of the world’s population, more than half of whom live outside of the BRICs (Brazil, Russia, India and China).
In emerging markets, the twin drivers of economic and demographic growth are leading to rapid increases in consumer expenditure and growth, forecasted to be three times that of developed markets between 2013 and 2020. Consumer spending growth in emerging markets outpaced that of developed countries every year since 2000 and is expected to continue doing so.
“Attention should be paid to the small emerging markets beyond BRIC, as many are experiencing faster growth rates in economic, demographic and consumer market terms. These markets bring both challenges and opportunities for companies able to move in and tailor their products, services and strategies to compete effectively,” says Euromonitor’s Head of Countries and Consumers, Sarah Boumphrey. “Middle classes are the perfect demographic to target for fast growth within these markets and our white paper identifies aspects of these consumers.”