For the period 2015 to 2030, China, India, Indonesia, Nigeria, and the Philippines are forecast to have the fastest-growing middle class, according to Euromonitor International. Factors that are expected to make the middle class the “prominent consumer force” in these emerging countries include their growing size, strong income growth prospects, and a median income exceeding US$10,000 per household in 2030. According to Euromonitor, China will remain the world’s largest middle class despite its economic slowdown, while India is forecast to be among the top countries in terms of growth in median income. In Indonesia, middle-class households are expected to gain more purchasing power, while Nigeria’s middle class is forecast to reach 15 million in size by 2030. Economic growth stability and improved income distribution will drive the middle class in the Philippines to grow 41.8 percent.
"Top 5 Emerging Markets with the Best Middle Class Potential", Euromonitor International, September 20, 2015
Retailer Metro Group partnered with Alibaba Group to promote e-commerce in China. As part of the strategic partnership, the companies will expand their e-commerce businesses in the country, with Metro Group opening a cross-border online store on Alibaba Group’s Tmall Global online market platform. According to the companies, they will also look at the feasibility of more collaboration opportunities in terms of sourcing, supply chain, and big data.
"METRO GROUP and Alibaba Group join forces to promote e-commerce in China", METRO GROUP, September 08, 2015
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Inside Retail Asia, September 22, 2015
Euromonitor International, September 14, 2015
Nielsen, September 01, 2015
Fresh Plaza, August 06, 2015
Euromonitor International, August 03, 2015
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