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The Ten Trillion Dollar Retail Economy

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The Ten Trillion Dollar Retail Economy

World Economic Forum,

5 min read
5 take-aways
Audio & text

What's inside?

How can you gather consumer data in nations where more than half the workforce operates in the unregulated underground economy?

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Editorial Rating

9

Qualities

  • Innovative
  • Applicable

Recommendation

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.

Summary

Global corporations realize that the greatest potential for future earnings and growth no longer lies in the developed markets. Demographic and income forecasts suggest that large developing economies offer more lucrative opportunities. In fact, the emerging economies’ burgeoning middle class already totals 2.4 billion people. By 2020, India and China will be home to one billion middle-class consumers.

Despite this potential, emerging markets present global businesses with several challenges. In fact, due to its...

About the Speaker

Nathan Eagle is a co-founder and CEO of Jana, a mobile phone app developer.


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