The global consumer packaged goods sector is expected to double by 2025. This growth has especially been observed in BRIC countries (Brazil, Russia, India and China). Along with growth, competition has also increased in these countries, which has led to companies looking for expansion avenues elsewhere.
An analysis by McKinsey has revealed three myths surrounding the growth in the Consumer Packaged Goods (CPG) sector. They are:
- The United States isn’t a growth market
- It’s too late to enter China or India
- Emerging-market consumers don’t buy premium products
These myths need to be discarded as they are certainly not true. And for better growth opportunities in this sector, Rogerio Hirose, Renata Maia, Anne Martinez and Alexander Thiel, in their article at McKinsey Insights have listed out few questions that companies need to answer before entering new cities.
To know more about these myths and the above mentioned questions, please visit the following link: