The world is increasingly complex, instrumented and virtual. There’s vast amounts of information about consumers and the factors that influence their behavior that simply didn’t exist in the data warehouse era. Here, we take a closer look at how all this data will affect retail when it comes together with recent technology trends.
Globally, more than six-in-10 respondents (63%) say they like when manufacturers offer new products. But while consumers across the globe are enthusiastic about new products, their purchasing patterns vary widely.
Consumer confidence in Asia-Pacific increased in nine of 14 markets measured by Nielsen in Q1, compared to only three that rose in Q4 2014. Nine markets in the region remained at or above the 100-baseline level of optimism. At 130, India reached its highest level since 2011—up one-point from Q4. Confidence in India has been on the rise for six consecutive quarters.
Any multinational looking for solid growth should be taking a hard look at India. In 2015, India’s economy will grow faster than China’s for the first time in 16 years. In fact, the IMF forecasts India’s GDP growth to expand by 7.5% this year and next.
Year after year, thousands of products across brands and organizations hit the retail shelves. Some succeed, whereas most fail. But every once in a while, comes along a product that changes the rules of the game and witnesses unprecedented success. This miniscule percentage falls within the realm of what we call ‘breakthrough innovation’. Scaling this summit is not easy but there are some fundamentals that can help you achieve this. The 'Breakthrough Innovation Report' is a deep dive into the competitive world of innovation in the fast-moving consumer goods space.