The $10 trillion prize : captivating the newly affluent in China and India /
Ten trillion dollar prize
Michael Silverstein ... [et al.].
- Boston : Harvard Business Review Press, 2012.
- xix, 314 pages ; 24 cm.
Includes bibliographical references (p. 293) and index.
Consumption in China and India: the dawn of a golden age I. The rise of the new consumer ini China and India The new revolutionaries: the rise of the middle classes The boom of the superrich: the millionaires (and billionaires) The next-but-one billion: the future of the left-behinds Finding the new consumer: the urban centers and rural communities The power of the purse: the new female consumers II. Preferences, appetites, and aspirations Food and drink: acquired tastes: cookies, wine, whiskey, and tea House and home: the "des res," furniture and the fridge Luxury: trading up in China and India fast cars, watches, and catwalk clothes Digital life: Netizens, E-shoppers, and the new Internet giants Education: the escalator to higher-paying jobs III. The lessons for business leaders Paisa vasool: how to captivate the newly affluent in China and India The boomerang effect: the global impact of the race for resources Fast forward: doing business and the accelerator mind set The BCG playbook: practical strategies for winning over new consumers in China and India A letter to the next generation: renewal and the American dream Worlds of difference: the regions of China and India Risks and the hit-the-wall scenario: how to manage volatility
You've heard of the burgeoning consumer markets in China and India that are driving the world economy. But do you know enough about these new consumers to convert them into customers? Do you know that: There will be nearly one billion middle-class consumers in China and India within the next ten years? More than 135 million Chinese and Indians will graduate from college in this timeframe, compared to just 30 million in the United States? By 2020, 68 percent of Chinese households and 57 percent of Indian households will be in the middle and upper classes? The number of billionaires in China has grown from 1 to 115 in the past decade alone? In The $10 Trillion Prize, bestselling author Michael J. Silverstein and his The Boston Consulting Group colleagues in China and India provide the first comprehensive profile of the emerging middle class, primed to transform the global marketplace. Already the world's biggest buyers of cars, mobile phones, appliances, and more, these consumers are eager for more products and services. In fact, it's estimated that by 2020, consumers in China and India will generate about $10 trillion of total annual revenue for companies selling to them. This book explains who these consumers are--what they buy and why, how they think and shop, and how their needs and tastes are changing. It takes you into their lives so you can better understand what they want and what they're looking for. Only by fully comprehending the forces driving this new generation of consumers will your company be able to capitalize on the opportunities their buying power represents. Insightful and backed by rigorous research, this book takes you inside the hearts and minds of today's emerging Chinese and Indian consumers--both urban and rural, and across all income levels--positioning your company to win as the next wave of global affluence reaches the marketplace