By 2020, 1.2 billion people will move out of subsistence poverty. They're the world's newest consumers, those living in households where annual disposable incomes will surpass $5,000 for the first time. It will be their initial experience with discretionary income and they'll have distinct ideas about how they want to spend it. These new consumers are already starting to develop tastes and demonstrate preferences in some categories.
And consumer-products companies that don't act quickly enough will risk losing out to faster global or local competitors. This article, which is part of Bain's newsletter, Insights, describes country and category trends to illustrate how consumer-goods companies can benefit from the demographic boom.
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