Tapping The Local Hotspots In The Global Bazaar
More than 80 percent of the world’s consumers reside in emerging markets and account for nearly 65 percent of the world’s spending on fast-moving consumer goods (FMCG). What’s remarkable is that 60 percent of these consumers are located in rural or smaller towns. These markets are massive, particularly as consumer awareness in these areas grows, disposable income within the middle class increases and society rallies around consumption trends. With these factors in play, these markets are only going to see unprecedented growth.
Prioritising Your Markets
There are more than 600,000 villages, and granular data for many of them doesn’t exist, increasing the task of reaching the ones that offer the highest return. So the need of the day is market prioritization. So how do marketers make the most of these markets, create effective go-to-market strategies and effectively tap the bottom of the pyramid (read rural India) in such a situation?