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Consumer buying behaviors are changing constantly, sometimes driven by product or technology innovation, but also in response to economic cycles. Emerging markets in Asia, Africa, Central and Eastern Europe and the Middle East are no exception
Our research identified the following six distinct trends, some of which are already recognized by consumer products companies and retailers while others are just now being recognized for their impact:
Several of these trends are demographic and have been obvious for years. These include urbanization and the ageing of consumers as well as their focus on health and environment. In contrast, trends such as the pronounced polarization of consumer values, and the deep interest in product customization and mobile commerce result more from recent economic and technology shifts.
These trends may hold greater promise for consumer goods companies to differentiate themselves because they can be acted on immediately, providing consumer goods companies with the ability to fulfill consumer needs with fresh go-to-market approaches and products, in short, a way to invite and maintain a dialogue with them.
For that reason, players that move fast to respond to these trends can gain and potentially sustain a competitive advantage in this area.
February 16, 2012
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