The $10 Trillion Dollar Prize: Captivating the Newly Affluent in China and India

( 1 )

Overview


Meet your new global consumer

You?ve heard of the burgeoning consumer markets in China and India that are driving the world economy. But do you know enough about these new consumers to convert them into customers?

Do you know that:
? There will be nearly one billion middle-class consumers in China and India within the next ten years?
? More...

See more details below
Hardcover
$21.15
BN.com price
(Save 29%)$30.00 List Price

Pick Up In Store

Reserve and pick up in 60 minutes at your local store

Other sellers (Hardcover)
  • All (29) from $1.99   
  • New (12) from $6.99   
  • Used (17) from $1.99   
The $10 Trillion Prize: Captivating the Newly Affluent in China and India

Available on NOOK devices and apps  
  • NOOK Devices
  • Samsung Galaxy Tab 4 NOOK
  • NOOK HD/HD+ Tablet
  • NOOK
  • NOOK Color
  • NOOK Tablet
  • Tablet/Phone
  • NOOK for Windows 8 Tablet
  • NOOK for iOS
  • NOOK for Android
  • NOOK Kids for iPad
  • PC/Mac
  • NOOK for Windows 8
  • NOOK for PC
  • NOOK for Mac
  • NOOK for Web

Want a NOOK? Explore Now

NOOK Book (eBook)
$16.99
BN.com price
(Save 43%)$30.00 List Price

Overview


Meet your new global consumer

You’ve heard of the burgeoning consumer markets in China and India that are driving the world economy. But do you know enough about these new consumers to convert them into customers?

Do you know that:
• There will be nearly one billion middle-class consumers in China and India within the next ten years?
• More than 135 million Chinese and Indians will graduate from college in this timeframe, compared to just 30 million in the United States?
• By 2020, 68 percent of Chinese households and 57 percent of Indian households will be in the middle and upper classes?
• The number of billionaires in China has grown from 1 to 115 in the past decade alone?

In The $10 Trillion Prize, bestselling author Michael J. Silverstein and his The Boston Consulting Group colleagues in China and India provide the first comprehensive profile of the emerging middle class, primed to transform the global marketplace. Already the world’s biggest buyers of cars, mobile phones, appliances, and more, these consumers are eager for more products and services. In fact, it’s estimated that by 2020, consumers in China and India will generate about $10 trillion of total annual revenue for companies selling to them.

This book explains who these consumers are—what they buy and why, how they think and shop, and how their needs and tastes are changing. It takes you into their lives so you can better understand what they want and what they’re looking for.

Only by fully comprehending the forces driving this new generation of consumers will your company be able to capitalize on the opportunities their buying power represents. Insightful and backed by rigorous research, this book takes you inside the hearts and minds of today’s emerging Chinese and Indian consumers—both urban and rural, and across all income levels—positioning your company to win as the next wave of global affluence reaches the marketplace.

Read More Show Less

Editorial Reviews

From the Publisher

As seen in The Wall Street Journal, Fortune magazine, Forbes.com, Bloomberg TV, Businessweek, The Economist, and BBC Radio

“enjoyable, informative, and timely book.” — Indian Journal of Economics & Business

“A must-read for those wanting to tap the markets of India and China, The $10 Trillion Prize: Captivating the Newly Affluent in China and India is a portrait of the world’s biggest buyers of cars, mobile phones, appliances and other products and services” — livemint

“This is a good book packed with data, examples, and insight. Whether you know next to nothing, just or little or are quite familiar with the business environments in China and/or India, you will certainly get new information as I did, to widen my horizons. Get this book.” — BIZ INDIA (bizindia.net)

“Pick up the book to know how to create a triple crown: a win in China, a win in India, and a win at home; and to understand the differences and similarities between China and India.” — Business India

The $10 Trillion Dollar Prize examines the pot of gold at the end of the rainbow for Western manufacturers and explains who these customers really are and how their tastes are changing. But most importantly it offers insights into how to reach them.” — Engineering and Technology Magazine, The Institution of Engineering and Technology

“well worth having on your bookshelf” — Business Traveller magazine

Through vivid profiles and memorable characters such as the Harvard girl and Mrs. Wx Liu, the authors take readers inside the hearts and minds of Chinese and Indian consumers and offer key new insight into how to win them over. — India Business Journal

“an excellent starting point for understanding how China and India are powering the global economy.” — Small Business Trends (smallbiztrends.com)

The $10 Trillion Dollar Prize is an insightful, brilliant journey into the viscera of the modern consumer in both countries, unravelling in the process the rich tapestry that embellishes both these countries.” “In sum, the book is a “paisa vasool”, or value for money, a term it repeatedly refers to, and one which could redefine the way corporations around the world think about consumers in India and in China.” — Business Standard (business-standard.com)

“…the authors, all of whom work for the Boston Consulting Group, make a convincing case for the importance of this eastward shift in global spending.” — The Financial Times

The $10 Trillion Prize, through survey data, concrete examples, and on-the-ground reporting, shows business leaders what they’re up against in these two massive markets…” — EuroBiz

Advance praise for The $10 Trillion Prize:

Jerry Stritzke, President and COO, Coach—
“Great insights into the aspirations and driving forces behind the all-important consumers of China and India. A thought-provoking and entertaining glimpse into how these consumers will redefine the future.”

Irene Rosenfeld, Chairman and CEO, Kraft Foods—
“A must-read for consumer companies seeking to capitalize on the explosive growth in India and China, but also a how-to manual for jump-starting growth in more mature, developed markets.”

Jochen Zaumseil, Executive Vice President, Asia Pacific, L’Oréal—
“The authors of The $10 Trillion Prize draw very concrete directions to answer the needs, aspirations, ambitions, and demands of this new generation of consumers.”

Deepak Parekh, Chairman, HDFC—
“Decisively, this is the most realistic and powerful portrayal of Chinese and Indian consumers. No company can shape its future without them. A brilliant guide to unlocking spectacular growth.”

Jim O’Neill, Chairman, Goldman Sachs Asset Management—
“This landmark book documents the rapid growth in consumer spending in China and India over the next ten years. It is an analytic tour de force and a rags-to-riches tale.”

Read More Show Less

Product Details

  • ISBN-13: 9781422187050
  • Publisher: Harvard Business Review Press
  • Publication date: 10/2/2012
  • Pages: 336
  • Sales rank: 651,305
  • Product dimensions: 6.40 (w) x 9.34 (h) x 1.08 (d)

Meet the Author


Michael J. Silverstein is the author of Trading Up and one of the founders of The Boston Consulting Group’s global consumer practice. Abheek Singhi is the leader of BCG's India consumer practice. Carol Liao heads BCG's China consumer practice. David Michael leads BCG's globalization practice.
Read More Show Less

Table of Contents

Preface ix

1 Consumption in China and India: The Dawn of a Golden Age 1

Part I The Rise of the New Consumer in China and India

2 The New Revolutionaries: The Rise of the Middle Classes 27

3 The Boom of the Superrich: The Millionaires (and Billionaires) 49

4 The Next-but-One Billion: The Future of the Left-Behinds 61

5 Finding the New Consumer: The Urban Centers and Rural Communities 77

6 The Power of the Purse: The New Female Consumers 103

Part II Preferences, Appetites, and Aspirations

7 Food and Drink: Acquired Tastes: Cookies, Wine, Whiskey, and Tea 117

8 House and Home: The "Des Res," Furniture, and the Fridge 143

9 Luxury: Trading Up in China and India-Fast Cars, Watches, and Catwalk Clothes 157

10 Digital Life: Netizens, E-Shoppers, and the New Internet Giants 177

11 Education: The Escalator to Higher-Paying Jobs 193

Part III The Lessons for Business Leaders

12 Paisa Vasool: How to Captivate the Newly Affluent in China and India 213

13 The Boomerang Effect: The Global Impact of the Race for Resources 225

14 Fast Forward: Doing Business and the Accelerator Mind-Set 235

15 The BCG Playbook: Practical Strategies for Winning Over New Consumers in China and India 249

Epilogue A Letter to the Next Generation: Renewal and the American Dream 257

Appendix A Worlds of Difference: The Regions of China and India 263

Appendix B Risks and the Hit-the-Wall Scenario: How to Manage Volatility 271

Notes 283

Selected Bibliography 293

Index 295

Acknowledgments 309

About the Authors 313

Read More Show Less

Customer Reviews

Average Rating 5
( 1 )
Rating Distribution

5 Star

(1)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 Customer Reviews
  • Posted December 16, 2012

    Claim your share of The $10 Trillion Prize

    Claim your share of $10 Trillion: This book tells you how. At first glance, “The $10 Trillion Prize” is a must for anyone doing or planning on doing business in China and India; on second thought, any business leader worth his/her bonus should read this book. Here’s why: The authors –world-leaders in their field– estimate that consumer markets in China and India will triple by 2020, amounting to $10 trillion (annually!) – dwarfing the North American and European markets. Which company in its right mind wouldn't want to win its share in this once-in-a-lifetime prize? This book provides business leaders and entrepreneurs with the blueprint for this quest. In addition, the quality/value strategies laid out in “The $10 Trillion Prize” couldn't be more relevant today also in other markets around the world: emerging economies as well as established (but battered) economies such as North America and Europe. Based on scintillating research, “The $10 Trillion Prize” explains and showcases the different types and tiers of consumers in the two giant economies, their preference and aspirations. I particularly liked the little vignettes of Chinese and Indians consumers and their choices, sprinkled throughout the book. Why do they do the things they do? What do they dream of? What do they want? The vignettes give you the answers. “The $10 Trillion Prize” also makes you wonder which business concepts would work in other cultures. For example, why is KFC the big hit in China?! Long story short, “The $10 Trillion Prize” is insightful, intelligent, in-depth – and a pleasure to read. I highly recommended “The $10 Trillion Prize.” Someone will win the $10 Trillion. Miss out at your own peril.

    Was this review helpful? Yes  No   Report this review
Sort by: Showing 1 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)