Monday, July 4, 2011
Retail Infographic - 2 of 3
This one just makes me feel like a bit of a jerk and that all of my problems are a bit, how do you say...um, 'First World'.
For every dollar spent in Pakistan on 'recreation', I am spending $2,238 (as a Canadian...and we all know that for me, that number is several fold).
This is literally showing me who is working so hard just to put a shirt on their back and shoes on their kids feet. Dare, I say its also telling me who is making and who is buying what's being made?
Just wondering, again, what is the time continuum? Has the spending declined? which categories are on the rise? What will this look like for manufacturing nations in the future, what will the role of brands in the 'have not' nations' look like. How is the amount determined - is it taken based on individual census information, then applied?
Where I think this information is valuable is from a birds eye view. Pakistan, China, Thailand, India are poor and populous nations. The priority is not on life-style its actually surviving life. Paying for clothes, eating and household goods - its about getting by. Even technologies, in which I will wrap in mobile usage, is low and according to alot of articles I've read lately, mobile adoption in these countries is climbing 10x (I will find the source). So for a brand like Nokia, who has may or may not have eyes on these countries for growth and market penetration through Dumb Phones, or a brand like Starbucks or McDonald who is interested in quenching and feeding the local markets, it will be a challenge. While everyone needs to eat, is there even an opportunity to be relevant in these markets, and if you are, to even make money and survive as a company. How will brands need to zig in order to win in these markets? Or, flip the relationship inside out - are there brands in China, or ways of life that the consumer-crazy 1st world can adopt that help curb our enthusiasm for entertainment/clothing etc.? For instance, how are household items shared in these nations? how can we reduce consumerism?
Global brands need global perspectives. And I am a bit fearful that sometimes the perspective is... where there are people, they will buy. This can't always be the case....