By 2030, emerging markets will generate half of the world's consumer spending, twice today's share. Why, where and what are they buying? Here's a clue....#1 is a smartphone!
This is Credit Suisse's insight into what is consumer in rapidly developing parts of Africa want to spend their money on.
Matthew Farmer's insight:
There are some really interesting insights in this piece. Why is #1 a smartphone? The piece hints that the reason is because they provide access to knowledge - and we know: knowledge=power - or at least access to same knowledge other people have.
Some other insights include how while the economics may be look similar to periods of growth in other countries such as US in the 1930's or the French in the 1950's, there are some big differences in things such as the fact that in many emerging markets, children are wealthier than their parents.