August 21 | 2019
OVERHEARD: an untapped market of new consumers – brands, are you listening?
This interesting Harvard Business Review piece is definitely worth a read. Let it be an eyeopener for the next decade of emerging markets & consumers.
Today, only 49.2% of the world’s population is connected worldwide, but, within the next decade, global broadband expansion will be real. This means that billions of previously unconnected consumers will be online in the next few years representing a historic expansion of the global marketplace. And the fight for their attention is on.
Brands should start to think about how to approach these consumers. Most of these new consumers will be from low-income communities, with limited access to education and highly localised communications. This means that regular audio and video communication will become particularly important. Let’s bring the rapid rise of Voice Assistance (Hey Google!) here. The intuitive interface and lower price offer great opportunities in this new markets to grab the attention of your new consumers.
Check the full article out here.