The findings are revealed in the paper, Convergence with Divergence, which analyses how household spending in China, India, Mexico, Turkey and South Africa will change in comparison to the USA and UK over the next three years.
The report reveals that consumer spending in these emerging markets is expected to grow between 7.7% and 15.2% a year between 2013 and 2016 compared with 3.6% in the UK.
While the world’s developed economies are still dealing with the fallout from the banking crisis of 2008, many emerging markets have seen incomes rise significantly, providing significant growth opportunities for FMCG businesses looking to enter new markets. Each market continues to differ and a need for businesses to understand their market remains integral.
In the UK, the following trends are to be expected:
Key findings for each of the markets analysed is as follows:
Source: Mintel
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