Future of Consumption in Fast-Growth Consumer Markets: China
This report argues that China will have the world’s largest middle class fueled by income-growth in the next 10 years.
The Future of Consumption in Fast-Growth Consumer Markets is a multi-year project which focuses on the evolution of consumption in emerging markets (China, India, ASEAN) that comprise over 40% of world population and leapfrogging. In collaboration with Bain & Company, the project focused on China in 2017; over 2018, a focused study on India will ensue. India is set to become the third largest consumer economy by 2027 with consumption tripling over the next decade. As was successfully done for China over 2017, research over 2018 will articulate a vision for the future of consumption in India over the next decade, as enabled by global and local forces, and will thereby determine the implications for both business and society at large. Thereafter, upon prioritizing the most critical implications, actionable imperatives will be put forward for private and public sector stakeholders. This study will bring strategic foresight around the drivers of growth and levers of inclusivity in such key markets, which can benefit global leaders around the world as they all grapple with similar challenges. The ultimate objective is shaping consumption-lead inclusive growth in emerging markets (China, India, ASEAN) by catalyzing collaborative actions, including through public-private partnerships on the most pressing topics.