The middle class in emerging economies is growing by leaps and bounds. McKinsey has some pretty huge numbers estimating the size of this market.
Furthermore, they quote a study saying that the 1925 market leaders – at the time the European and American middle classes grew like this – were still the leaders at the end of the century.
A huge opportunity for business in other words. However it is also a huge opportunity for a change in the patterns of consumption. It is arguably a large, affluent middle class t puts the largest pressures on for example environment, health care, etc. (the rich are too few to matter). Only if we manage to grow the emerging middle with a different set of behaviors (public transport, less meat, sustainable travel) will this not be a huge threat.
Hopefully the Kraft Foods of the emerging middle will have a completely different set of desirable behaviors to sell.
http://www.mckinseyquarterly.com/newsletters/chartfocus/2010_09.htm
A huge opportunity for business in other words. However it is also a huge opportunity for a change in the patterns of consumption. It is arguably a large, affluent middle class t puts the largest pressures on for example environment, health care, etc. (the rich are too few to matter). Only if we manage to grow the emerging middle with a different set of behaviors (public transport, less meat, sustainable travel) will this not be a huge threat.
Hopefully the Kraft Foods of the emerging middle will have a completely different set of desirable behaviors to sell.
http://www.mckinseyquarterly.com/newsletters/chartfocus/2010_09.htm