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Urban Consumption Growth

Urban world: The global consumers to watch

Date of Editorial Board meeting: 
Publication date: 
Sunday, March 20, 2016
Abstract in English: 
Dramatic demographic shifts are transforming the world’s consumer landscape. Our new research finds just three groups of consumers are set to generate half of global urban consumption growth from 2015 to 2030.
Until the turn of this century, population growth generated more than half of all global consumption. But between 2015 and 2030, three-quarters of global consumption growth will be driven by individuals spending more. This shift has profound implications for companies. What’s now important are emerging demographics: the latest report from the McKinsey Global Institute (MGI) finds that nine groups will generate three-quarters of global urban consumption growth to 2030, and just three of these will generate half of consumption growth and have the power to reshape global consumer markets over the next 15 years.
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