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About 3 billion consumers in emerging markets will be online by 2022. Most of them will use the internet to collect information before buying products, pushing the level of digitally influenced purchases to nearly $4 trillion, says a report by The Boston Consulting Group that was presented at the World Economic Forum in Tianjin recently. Ecommerce in emerging markets is expected to grow from about 15% of all retail sales in 2017 to 20% in 2022. Companies trying to tap this market would have to tweak their strategies at the product, country and city levels. A quick look at what to expect
Note: % of respondents are based on more than 15,000 internet users surveyed for the report, “Digital Consumers, Emerging Markets, and the $4 Trillion Future”, by The Boston Consulting Group’s Center for Customer Insight. They were surveyed to develop a picture of where emerging markets are in their digital development. It did in-person interviews with 1,000 or more people in each of nine countries: Brazil, China, India, Indonesia, Kenya, Morocco, Nigeria, the Philippines, and South Africa. All the interviews were conducted in urban areas, where the connectivity level is highest and internet use is most engrained.