Business leaders with a mandate to create growth strategies, drive innovation, and allocate scarce resources across markets have told us they would value an objective perspective on future shifts in consumer demand around the world. This knowledge is equally vital to international, national and regional government leaders tasked with aligning economic policies and stimulus programs to their population’s evolving needs and desires. We have designed The Demand Institute to provide an objective, non-partisan perspective on where consumer demand is headed tomorrow—and what it means for leaders today.Read More
The Digital Consumer of the Future
For companies serving consumers in the modern, connected economy, income-based approaches to growth, such as seeking growth opportunities from the middle class, are insufficient. To address these shortcomings, we have developed a new approach to identify the consumers able and ready to be higher spenders. We call them Connected Spenders, and over the next decade, they will account for 46% of the world’s consumer spending, or $260 trillion. Connected Spenders are the ideal consumer for a variety of goods and services, and consumer-facing businesses should use them as a first lens in making decisions about which markets to invest in and how to communicate with and reach consumers.
Chinese Consumers and Their Shifting Demand for Financial Services
Over the past several decades, China has brought hundreds of millions of citizens out of poverty and created a thriving consumer class that has made it the second-largest consumer market in the world in aggregate terms. But, on a per-capita basis, consumption is a fraction of the level in mature economies. A Wealth of Opportunity: Chinese Consumers and Their Shifting Demand for Financial Services finds vast untapped demand among Chinese consumers for household financial services products such as deposit accounts, credit cards, and debit cards. It identifies two scenarios for how growth in Chinese financial services could accelerate consumption. Under the most likely scenario, expanded access will add $650 billion to Chinese consumption over the next decade, but it could be as much as $950 billion.
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