More than 2 billion Asians qualify as members of the global middle class by 2021. In China alone, this middle class includes 670 million consumers, compared with only 150 million today.*

The next billion consumersAs emerging market economies flourish, huge new markets open up to global brands. These “next billion” consumers, however, are vastly different from those that preceded them. While many earn more than $5,000 a year, making them part of the global middle class, they are still significantly poorer than their western counterparts. As a result, companies that want to do business in these markets must completely rethink their product mix and finances to compete at a much lower price point.

See: Another billion

 

*”The New Global Middle Class: A Cross-Over from West to East,” Brookings Institute, http://www.brookings.edu/~/media/research/files/papers/2010/3/china%20middle%20class%20kharas/03_china_middle_class_kharas.pdf.

 

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