Bangladesh: The Surging Consumer Market Nobody Saw Coming
Published onOctober 1, 2015
Bangladesh is emerging as one of the world’s next great growth opportunities for consumer product companies. Every year, 2 million Bangladeshis join the ranks of the middle class and affluent. These consumers are highly optimistic, value foreign brands, and are jumping on the digital bandwagon.
While most Bangladeshi consumers are eager to boost their spending and trade up to higher-value goods and services, they are also budget conscious and wary of debt. To win the loyalty of Bangladeshi households, companies must educate consumers about product usage and build brands that offer a strong value proposition.
Bangladeshi households still purchase most of their goods with cash and shop at traditional mom-and-pop retail outlets. Yet they are also rapidly embracing smartphones and high-speed mobile Internet services. To reach future consumers, companies must curate online information and develop a strategy that addresses the growing mobile e-commerce market.Download File
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