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Book Synopsis: “The $10 Trillion Dollar Prize” Captivating the Newly Affluent in China and India

Posted: October 3, 2012 2:00 a.m.
Updated: October 3, 2012 2:00 a.m.
 

Author:

Michael Silverstein, Abheek Singhi, Carol Liao and David Michael



Synopsis:

Meet your new, global consumer. Do you know that the burgeoning consumer markets in China and India are driving the world economy? And do you know enough about these new consumers to convert them into customers?

Do you know that:

There will be nearly 1 billion middle-class consumers in China and India within the next 10 years?

More than 135 million Chinese and Indians will graduate from college in that time frame, compared to just 30 million in the United States?

By 2020, 68 percent of Chinese households and 57 percent of Indian households will be in the middle and upper classes?

The number of billionaires in China has grown from 1 to 115 in the past decade alone?

In The $10 Trillion Prize, bestselling author Michael J. Silverstein and his The Boston Consulting Group colleagues in China and India provide the first comprehensive profile of the emerging middle class, primed to transform the global marketplace.

Already the world’s biggest buyers of cars, mobile phones, appliances, and more, these consumers are eager for more products and services. In fact, it’s estimated that by 2020, consumers in China and India will generate about $10 trillion of total annual revenue for companies selling to them.

This book explains who these consumers are — what they buy and why, how they think and shop, and how their needs and tastes are changing. It takes you into their lives so you can better understand what they want and what they’re looking for. Published by the Harvard Business Review Press.


Quotes

“A must-read for consumer companies seeking to capitalize on the explosive growth in India and China, but also a how-to manual for jump-starting growth in more mature, developed markets.” — Irene Rosenfeld, chairman and CEO of Kraft Foods

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