You shouldn't by now need any convincing that the future growth of your business depends on your success in targeting new, dynamic and aspirational middle class consumers from the Big Rapidly Industrialising Countries of Brazil, Russia, India and China but, if you do, you must read the summary of the latest Trend Briefing from trendwatching.com which offers many examples of new products, brands and offerings which are being snapped up in places like China, India, Malaysia, Turkey, South Africa, Mexico and many others.
Seriously, if you don't read anything else in this (or any) issue of Insights, please take a moment to scroll through the vast array of new products, brands and innovations emerging from China, India, Brazil and other emerging countries. Many of these new names are already displacing long established players in many sectors (eg fashion, cosmetics, sportswear, automobiles etc.) and are successfully competing for the attention of consumers of all ages in emerging countries. Click here to be amazed!
It just goes to show that nobody is safe in the new global economy. As you can see, the most successful brands are those offered by the smaller innovators in fashion, food & beverage, automotive, personal & domestic care, consumer electronics, mobile telecoms, travel, and many more....not the big western brands and massive local corporations…
Why now?
- Both consumers and brands in emerging markets are rapidly getting wealthier, more sophisticated, more mobile, and more educated, resulting in an abundance of confidence, enthusiasm, creativity, and entrepreneurialism
- Many emerging markets (other than China) have younger populations, and will not be confronted with ageing populations for a long time to come, meaning an endless source of young entrepreneurs as well
- Brands from emerging markets are well positioned to cater to other booming emerging markets, while they may be perceived around the world as less arrogant, too. On top of that, they are less hindered by too many legacy systems and old world thinking
- Emerging markets will soon boast the biggest markets for everything, from cars and beers, to detergents and mobile internet: not a bad environment for innovation to flourish
It's really important for all entrepreneurs, businesses and innovators to take notice of these developments before its too late! You don't need me to tell you that it's an opportunity aswell as a threat.
Why not finish 2010 with a plan to start targeting these new consumers in 2011 and beyond? We are running two workshops in November on exactly this topic. Follow the links below for more information and to register:
16th November 2010 - Click here for more information
18th November 2010 - Click here for more information
I hope to see you at one of these sessions
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