The $10 Trillion Dollar Prize

by Silverstein, Michael; Singhi, Abheek; Liao, Carol; David, Michael

• ISBN13: 9781422187050
• ISBN10: 1422187055
• Format: Hardcover
• Copyright: 2012-10-02
• Publisher: Harvard Business School Pr

Summary

It is the dawn of the emerging consumer: Are you ready? By 2020, consumers in China and India will generate more than $10 trillion of total annual revenue for companies selling to them. Already the world's biggest buyers of cars, mobile phones, shoes, home appliances, and more--consumers in these countries are waiting for your firm's products and services. But are you ready for the demand? In The $10 Trillion Prize, Michael Silverstein, author of the bestselling Trading Up, and his Boston Consulting Group colleagues in China and India provide the first comprehensive profile of the emerging middle-class households--300 million strong--that will change the global marketplace. According to the authors, to capture your company's share of this immense opportunity, you must know exactly who these emerging market consumers are: what they buy and why; how they think and shop; and how their needs and tastes are changing. This pioneering book takes you into the lives of consumers--urban and rural, and across income classes--to help you understand more about their hopes, dreams, and aspirations. You'll also learn BCG's checklist for how to reach these important emerging consumers, through segmentation and innovation. Drawing on BCG's proprietary market segmentation of the two nations, the authors dissect the markets based on wealth, education, attitude, geography, age, and gender. Insightful and backed by rigorous research, this book takes you inside the hearts and minds of today's emerging Chinese and Indian customer--positioning your company to win as we reach the next wave of global affluence.

Table of Contents

Preface	p. ix
Consumption in China and India: The Dawn of a Golden Age	p. 1
The Rise of the New Consumer in China and India
The New Revolutionaries: The Rise of the Middle Classes	p. 27
The Boom of the Superrich: The Millionaires (and Billionaires)	p. 49
The Next-but-One Billion: The Future of the Left-Behinds	p. 61
Finding the New Consumer: The Urban Centers and Rural Communities	p. 77
The Power of the Purse: The New Female Consumers	p. 103
Preferences, Appetites, and Aspirations
Food and Drink: Acquired Tastes: Cookies, Wine, Whiskey, and Tea	p. 117
House and Home: The "Des Res," Furniture, and the Fridge	p. 143
Luxury: Trading Up in China and India-Fast Cars, Watches, and Catwalk Clothes	p. 157
Digital Life: Netizens, E-Shoppers, and the New Internet Giants	p. 177
Education: The Escalator to Higher-Paying Jobs	p. 193
The Lessons for Business Leaders
Paisa Vasool: How to Captivate the Newly Affluent in China and India	p. 213
The Boomerang Effect: The Global Impact of the Race for Resources	p. 225
Fast Forward: Doing Business and the Accelerator Mind-Set	p. 235
The BCG Playbook: Practical Strategies for Winning Over New Consumers in China and India	p. 249
Epilogue A Letter to the Next Generation: Renewal and the American Dream	p. 257
Worlds of Difference: The Regions of China and India	p. 263
Risks and the Hit-the-Wall Scenario: How to Manage Volatility	p. 271
Notes	p. 283
Selected Bibliography	p. 293
Index	p. 295
Acknowledgments	p. 309
About the Authors	p. 313
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