The Global Consumer Class

TAKEAWAYS

• Clearly India and China are markets that cannot be ignored by those MNCs who are in the volume business (Durables and nondurables).
• There is not a single country from the developed economies of Europe, USA and Canada.
• In spite of the rapid globalization, there is a need to account for cultural factors such as tastes and tradition.
• None of the thirteen countries has any serious growth-related hurdles nor are they affected by geopolitical issues. From an overall population perspective, these countries account for 57% of the current world population.
• In each of these countries, there is an established manufacturing base as well as a healthy gig economy. This creates a price sensitive market. However, the market for branded goods would prevail as consumers in these countries are exposed to world trends.
• From a political perspective, except for China none of the others has a controlled economy. Even in China the controls are not major hurdles and are decreasing in time.