Emerging Consumers: A Big Turning Point
The consumer class is on the rise globally. Why is earning $10 a day a global economic pivot point?
- By 2025, the number of people in the global consuming class will exceed those still struggling to meet their most basic needs.
1. When people earn more than $10 per day, households can afford to purchase discretionary items such as refrigerators or televisions.
2. The number of those people globally rose from roughly 1.2 billion people in 1990 to 2.4 billion in 2010.
3. By 2025, the number is expected to double again, to 4.2 billion consumers.
4. By then, the number of people in the consuming class would exceed for the first time in history the number still struggling to meet their most basic needs.
From “The Transformers: The Rise of the Emerging Market Consumer and the Implications for U.S. Investors,” a report by Joseph P Quinlan of U.S. Trust