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How half the
world shops: Apparel in Brazil, China, and India
Multinational retailers face new challenges to capture the increased
spending power in each of these distinctive markets. |
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In emerging markets around the world, the spending power of consumers is
rapidly changing the retail industry, both globally and locally.
Multinational retailers seeking new sources of growth are watching the mass
markets of Brazil, China, and India, whose large populations and strong
economic growth have made them nearly irresistible. As consumers have
greater disposable income, they increasingly spend their money on items
beyond the basic necessities. One of the first categories to feel this
change is apparel.
To understand more fully what it would take for retailers to succeed in
these markets, McKinsey conducted a proprietary research project on
apparel-shopping attitudes and behavior in Brazil, China, and India. Our
sample consisted solely of women,1 who in many markets not only decide what
clothes to buy for themselves but also influence clothing purchases for
their children and husbands. We supplemented this quantitative research with
dozens of focus groups, store visits, interviews, and shopping diaries.
"China: Small budgets, small wardrobes" shows how the country’s fickle
consumers and strong local competitors threaten to undermine the
multinationals’ efforts.
"India: Shopping with the family" explains the different roles that Indian
women, men, and children play in making decisions about apparel and the way
the market there is evolving.
"Brazil: Fashion conscious, credit ready" describes that country’s
enthusiastic shoppers, as well as the efforts of banks and retailers racing
to meet their credit needs.
Read more from the source
This article is suggested by Anand Mann |
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