Summary of The Ten Trillion Dollar Retail Economy
How can you gather consumer data in nations where more than half the workforce operates in the unregulated underground economy?
The prevalence of the informal economy in developing nations presents global brands operating in these markets with a host of challenges – chief among them, gathering consumer data. Nathan Eagle of Jana, a mobile app development firm, touts his smart solution: Consumers will share personal data in exchange for mobile airtime rewards. This approach has the potential to streamline marketing and to deliver the equivalent of a 5% pay raise to one billion people in developing nations. getAbstract suggests Eagle’s brief, innovative presentation to software developers seeking inspiration and to executives at enterprises that are trying to gain a foothold in Africa, Asia or Latin America.
In this summary, you will learn
- Why emerging economies are increasingly attractive markets for international corporations;
- How the informal economy’s dominance in these markets impedes the collection of marketing data; and
- How Jana, a mobile app developer, created a savvy solution.