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Winning in Emerging Markets
05 Dec 2012
08.00 for 08.30 to 09.30
By 2025, more than half the world's population will have joined the consuming classes, driving annual consumption in emerging markets to $30 trillion. CEOs recognise that winning in these markets is the key to long-term growth. Yet the largest companies headquartered in developed economies derive only 17 per cent of their revenues from emerging markets - even though these markets currently represent 36 per cent of global GDP, and are likely to contribute more than 70 per cent of global GDP growth between now and 2025.
While no single formula can guarantee success, there are a number of disciplines and capabilities that global companies must master to compete effectively. Yuval Atsmon, a partner in McKinsey & Company in London, will lead a discussion on this topic. He recently returned after six years in Shanghai where he was helping retail, consumer goods and other companies navigate China's rapidly changing economic landscape.
McKinsey's work in this area in the last two years includes studies on the urbanisation of India and China, and cities and the rise of the consumer classes, as well as reports on the Japanese luxury goods market and consumer banking in Asia. It also produces an annual Chinese consumer report.
The McKinsey Global Institute (MGI) is the firm's business and economics research arm. It was established in 1990 to develop a deeper understanding of the evolving global economy, and aims to provide leaders in the commercial, public and social sectors with the facts and insights on which to base management and policy decisions.
The August 2012 report "The $30 Trillion Decathlon" distils some of its recent thinking on consumer behaviour in emerging markets and the extent of the opportunities there, not just in China but across Asia and elsewhere.
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