Euromonitor International Ltd

Euromonitor International Ltd

November 12, 2013 04:00 ET

New White Paper Identifies Marketing Strategies for Middle Class Consumers in Emerging Markets Beyond BRIC

CHICAGO, ILLINOIS--(Marketwired - Nov. 12, 2013) - Market Research Company Euromonitor International released today a new white paper, "Reaching the Emerging Middle Classes Beyond BRIC," highlighting how to identify and target the middle class in emerging markets, especially smaller, faster-growing markets outside of Brazil, Russia, India and China (BRIC).

In 2013, emerging markets are home to 85% of the world's population, more than half of whom live outside of BRIC. In these emerging markets, the twin drivers of economic and demographic growth are leading to rapid increases in consumer expenditure and growth, forecasted to be three times that of developed markets between 2013 and 2020. Consumer spending growth in emerging markets outpaced that of developed countries every year since 2000 and is expected to continue doing so.

"Attention should be paid to the small emerging markets beyond BRIC, as many are experiencing faster growth rates in economic, demographic and consumer market terms. These markets bring both challenges and opportunities for companies able to move in and tailor their products, services and strategies to compete effectively," says Euromonitor's Head of Countries and Consumers, Sarah Boumphrey. "Middle classes are the perfect demographic to target for fast growth within these markets and our white paper identifies aspects of these consumers."

The new white paper highlights key information about the emerging middle classes with insight into economic and demographic trends, including income and population growth.. It also discusses consumer spending priorities and lifestyle preferences, including habits, culture and beliefs, using key takeaways and insight direct from consumers participating in Euromonitor's Middle Class Home Survey.

For example, middle class respondents in all markets were in agreement that cleanliness and home maintenance matter, but home goods such as consumer appliances matter to some middle class respondents in emerging markets more than others. In Asia Pacific, 47% of respondents believe you can tell a lot about a person from the appliances in their home, while only 29% in Latin America share this belief. This type of information can help businesses make informed decisions about the culture within their target emerging markets and tailor their product or service accordingly to meet the needs and desires of the consumer.

"What can be taken for granted and what is effective in developed markets does not translate simply for emerging markets," says Survey Manager, Eileen Bevis. "Each country has its own distinct beliefs, tastes and aspirations. Better understanding of the diverse, dynamic and upwardly mobile middle classes should boost companies' successes in these emerging markets."

For more information, please see our latest white paper: http://go.euromonitor.com/Reaching-the-Emerging-Middle-Classes-Beyond-BRIC.html

Note: All consumer survey results cited in the release and white paper are drawn from Euromonitor International's Middle Class Home Survey of 6,600 online consumers ranging in age from 15-65+ and living in 16 major markets in 2013: Australia, Brazil, China, Colombia, France, Germany, India, Indonesia, Japan, Mexico, Russia, Spain, Thailand, Turkey, United Kingdom and the USA.

About Euromonitor International

Euromonitor International is the world's leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.

We deliver market research solutions to support strategic planning for today's increasingly international business environment. Our research offers in-depth market analysis on consumer goods and services industries worldwide, as well as economic, demographic and socio-economic data and insight on countries and consumers.

Euromonitor International is headquartered in London, with regional offices in Chicago, Brazil Singapore, Shanghai, Vilnius, Santiago, Dubai, Cape Town, Tokyo, Sydney and Bangalore, and has a network of over 800 analysts worldwide.

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