According to the World Advertising Research Center, Coca-Cola, the soft drinks giant, plans to adapt its strategy in order to reflect global “mega-trends” such as urbanisation, consumer empowerment and the ageing of the population in many markets.
The first of these processes is urbanisation. The proportion of people living in cities has now surpassed 50% worldwide, and should reach 70% by 2050, necessitating new supply chain and logistical models.
Secondly, by 2047, the number of individuals over 60 years of age will be higher than those under 15 years of age, a shift presenting new opportunities for some industries, as more mature consumers tend to have greater disposable income.
Thirdly, the rise of the middle class will fuel strong demand for products and services, which should expand by 1bn people in the coming ten years. By 2030, over 90% of this audience is set to reside in emerging nations, compared with 50% today.
Fourthly, customers are increasingly “in the driving seat”, as evolving technologies transform their expectations and ability to influence companies. By 2013, for example, there will be 2 bn mobile users, while a third of purchases are due to be completed online by 2020. Retailers and FMCG firms will need more advanced real-time insights to better serve this dynamic, fragmented market.
This blog post is written by Aparna Mehra, Insight Consulting Partner & Practice Leader – Strategy Maps, Brandscapes Worldwide