A while back I posted the “Business Case for Sustainability: Reason No. 1,” which is population. It’s estimated that the world’s population will reach 9 billion people by 2050. At the current population growth, according to Carnegie, “developing economies have accounted for nearly 70% of growth the past 5 years.” Surprised? The market is shifting from developed towards emerging markets. The global emerging middle class now stands at 2 billion people, who collectively spend $6.9 trillion per year, a figure that estimated by McKinsey will grow twice US current consumption by 2020.
No matter how big or small your business is, you can’t ignore the stats and trends, especially if you’re looking into new opportunities. If you’re not looking for expansion abroad, the least that you can do is to look for new ideas from there and bring it here.
So here it is. Check out this month’s edition of trendwatching look at the 50+ innovative products coming from emerging markets for ideas and inspirations.