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

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

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by Michael J. Silverstein, Abheek Singhi, Carol Liao, David Michael
 

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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

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.

Product Details

ISBN-13:
9781422187067
Publisher:
Harvard Business Review Press
Publication date:
09/11/2012
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
320
File size:
3 MB

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.

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The $10 Trillion Dollar Prize: Captivating the Newly Affluent in China and India 5 out of 5 based on 0 ratings. 1 reviews.
SilviaHodges More than 1 year ago
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.