The 10 Trillion Prize Captivating thely Affluent in China and India
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This is the first detailed look at the new generation of consumers in emerging markets - how they think, shop, buy and dream - and what companies must do to win them over, from the heads of Boston Consulting Group's consumer and globalization practices in the US, China and India. It is the dawn of the emerging consumer: Are you ready? By 2020, consumers in China and India will generate more than $10 trillion of total annual revenue for companies selling to them. Already the world's biggest buyers of cars, mobile phones, shoes, home appliances, and more-consumers in these countries are waiting for your firm's products and services. But are you ready for the demand? In The $10 Trillion Prize, Michael Silverstein, author of the bestselling "Trading Up", and his Boston Consulting Group colleagues in China and India provide the first comprehensive profile of the emerging middle-class households-300 million strong - that will change the global marketplace. According to the authors, to capture your company's share of this immense opportunity, you must know exactly who these emerging market consumers are: what they buy and why; how they think and shop; and how their needs and tastes are changing. This pioneering book takes you into the lives of consumers - urban and rural, and across income classes - to help you understand more about their hopes, dreams, and aspirations. You'll also learn BCG's checklist for how to reach these important emerging consumers, through segmentation and innovation. Drawing on BCG's proprietary market segmentation of the two nations, the authors dissect the markets based on wealth, education, attitude, geography, age, and gender. Insightful and backed by rigorous research, this book takes you inside the hearts and minds of today's emerging Chinese and Indian customer-positioning your company to win as we reach the next wave of global affluence.
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