The Nielsen’s Consumer 360 conference revealed some interesting trends and oppportunities. One presentation of particular interest was that given by Consumer Insights’ Hany Mwafy and James Russo (video below).
The digital centre of gravity (as they expressed it) is moving more towards emerging economies and away from the traditional hubs of Europe and the USA.
Growth and profit will happen in countries such as Brazil, Russia, India and China, often referred to as the BRIC grouping. It is estimated that by 2014 growth in BRIC will be 61.3% from 2008 baseline. This needs to be compared with the G7 (U.S., U.K, France, Italy, Germany, Canada and Japan) projected growth of just 12.8%.
Some trends to watch:
- By 2030, the developing world’s middle class will be larger than the total populations of Europe, Japan and the United States combined.
- The female economy.Women now control almost $12 trillion of the $18 trillion in global consumer spending.
- Mobile phones are bringing the Internet to previously unconnected consumers.
- Average daily TV viewing worldwide in 2009 was a record 192 minutes
- The Middle East, in particular, is experiencing phenomenal growth and Egypt’s middle class is growing and is increasingly connected
- Fifty-eight-million Egyptians are mobile subscribers
And while we are at it, let’s not forget the CIVETS as other pundits are already predicting that Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa will take over as the new BRICs.