The Credit Suisse Emerging Consumer Survey is a study that draws on the findings of 13,285 detailed face-to-face interviews with consumers across eight emerging economies which reflect USD 10.7 trillion of consumption. These consumers continue to redraw the global consumption map as their incomes rise. The study covers Brazil, China, India, Indonesia, Mexico, Russia, Turkey, and Thailand.
In recent surveys carried out by Credit Suisse, the prospects for the Asian consumer have stood out as the brightest. India is again topping the sentiment scorecard supported by positive income characteristics. China ranks third, displaying an all-time low level of income expectations. The authors note that real wages in China are currently increasing at their slowest pace for seven years. The most notable and positive regional development in 2018 has been a rapid improvement in consumer sentiment in Latin America. Brazil ranks second in the consumer sentiment scorecard and, compared to Mexico, has a more secure medium-term outlook in macroeconomic terms.
Alongside the country contrasts, the study delves into structural and behavioral themes. The authors identify general drivers of change shaping consumer behavior, such as a surge in internet access and increased penetration of smartphones. The demographic dynamics are crucial of course, and, as the authors compare and contrast India and China in this regard and the 2.7 billion consumers they represent, they observe that both markets have benefited from a demographic dividend, but each country is at a different stage. China is now already at a demographically higher stage of development than India. Yet, with its working-age population soon to surpass that of China, India has better long-term demographics for growth.
When assessing the growth prospects of consumer end-markets, the role played by the «millennial» (Generation Y) consumer is key. The study provides a unique picture of the current priorities and preferences of this important segment across these markets and exposes some myths along the way. Overall, the picture that emerges indicates a greater appetite of millennials for spending on health and convenience-related lifestyle products (which aren’t necessarily luxury items), video games and e-sports. The authors note a shift to renting a more convenient lifestyle, evidenced by the fact that food delivery services are gaining in popularity. By contrast, spending on cars and holidays has weakened in this group of consumers.
The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.
The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.
Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.
The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 180 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 81 countries worldwide, and 186 Russian public organizations, federal and legislative agencies, and federal subjects.
The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, Spanish – t.me/RoscongressEsp and Arabic t.me/RosCongressArabic. Official website and Information and Analytical System of the Roscongress Foundation:roscongress.org.