Jones: Exploring export markets
We are witnessing a dramatic shift in the balance of consumer demand and purchasing power in markets across the world. Throughout emerging economies, spending power has increased as a result of the continued expansion of middle class consumers and sustained population growth.
A recent report released by Business Monitor International predicted that spending power in Brazil, China, India and Russia would nearly triple by 2018. In stark contrast, Western consumers are spending more cautiously and beginning to lay aside more in savings. Conspicuous consumption has lost its verve, private label brands are seeing wider acceptance, and lifestyles have changed with a higher percentage of meals being eaten in the home.
Many experts agree that this cautious behavior will continue well into the future as consumers in the developed world make lasting shifts in consumption choices.
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