Support our nonpartisan, nonprofit research and insights which help leaders address societal challenges.Donate
Consumer-facing businesses around the world have long used the middle class as their gauge for identifying growth opportunity. In the modern digital economy, we believe that is a dated way to look at the world. We believe this approach fails to take into account consumers’:
- Mindset and engagement
- Access to goods and services
That is why we have introduced a new cohort of consumers around the world who are willing to spend, are fully engaged with the global economy, and have access to goods and services they desire. We call them Connected Spenders. They meet two very important criteria:
- They have access to the internet
- They earn enough income and are willing to make discretionary choices in their spending, above and beyond what they consider necessities
Why do we believe Connected Spenders are going to drive business growth? We forecast that:
- They are going to double in number by 2025, reaching 3 billion globally;
- They will spend US$260 trillion between now and 2025 across a broad range of products & services; and
- Their share of total consumer spending will reach over one-half by 2025, up from just over one-third currently.
Connected Spenders are going to grow differently around the world and exhibit unique aspects when it comes to their demographics and their behavior. We encourage you to get to know Connected Spenders better and learn how you can leverage this new source of growth. You can also take advantage of the kind of storytelling that reaches this new omni-channel consumer cohort.