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Never Too Poor to Spend?
The World Bank is encouraging foreign investors and businesspeople to start pursuing the world’s four billion poor people as a potentially lucrative market worth five trillion dollars, much bigger than previously thought. Total annual household income of five trillion dollars a year establishes the BOP (Base of the Pyramid) as a potentially important global market, the Bank says in a new report, jointly authored by the Washington-based World Resources Institute (WRI).
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Low-Income Venezuelans Amount to 85 Percent of Population
While Venezuela is ranked among the Latin American and Caribbean countries with the largest revenues, 85 percent of its population lives in relative poverty, according to the report The Next 4 Billion: Market Size and Business Strategy at the Base of the Pyramid, prepared by the World Bank and the World Resources Institute and released on March 19th. The report, based on income data from 110 countries, focuses on the 4 billion people worldwide earning less than USD 3,000 p...
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World’s Poorest Represent $5 Trillion Market Opportunity, Report Says
The poorest 4 billion people in the world represent a US$5 trillion market, according to a new report from the International Finance Corporation and the World Resources Institute. The study is the first comprehensive, data-based assessment of the size and needs of people at the ?base? of the economic pyramid. Although each person in this sector has less than $3,000 per year in local purchasing power, with innovative business practices companies can provide inexpensive, better-quality services fo...
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Tapping into the poor market
TESS VIGELAND: How do you market to the world’s poorest populations? The 4 billion people who earn less than $3,000 a year? Might sound a tad mercenary. But a report out today from an arm of the World Bank says businesses should be doing just that. And not just for their own benefit. Ashley Milne-Tyte has more. ASHLEY MILNE-TYTE: The report found the 4 billion poorest people have $5 trillion worth of purchasing power. And that sits largely untapped. Still, it’s less...
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World’s poor represent $5 trillion market: report
The world’s estimated four billion people who live under the poverty line represent an untapped global market worth $5 trillion in local purchasing power, according to a new report. The report by the International Financial Corp., the World Bank’s private sector arm, and environmental think-tank the World Resources Institute, measures the size of the market using income and expenditure from household surveys. It comes as domestic and multinational corporations look ...
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Firms ’ignore’ $5 trillion market
Businesses are failing to tap into a global market among low-income earners worth a potential $5 trillion (?2.6 trillion), according to a report. More than 4 billion consumers across the world are being ignored by firms, the World Bank-affiliated study said. The report focuses on people in what it describes as the base of the pyramid segment of the world’s population. Although poor, they are better off than the 1.2bn people who live in abject pove...
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The Mexican Connection
Among the crumbling adobe shacks of rural Mexico, two-story California- style housing developments are rising. In the tiny city of Tlacolula, plots of land that sold for about $10,000 in 1994 now cost $60,000. Like the towns where they are going up, the new developments are partly empty. The home owners are among the many Mexican workers?nearly one in seven overall, and half the adult population of some communities, such as La Pur?sima and San Juan Mixtepec?who are in the United States. Typicall...
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Which Microlender Makes Best Use of My $20?
Pardon me, turkey fans, but the real time for thanksgiving is bonus season. It’s tough to muster gratitude in November, when you’re entering the most hassle-heavy months of the year. Come March, though, the holiday horrors have faded, you’ve nearly broken the back of winter, and that Big Check is finally in the mail. Hallelujah! Pass the mustard! You’ll be flush all through daffodil season?until tax time, at least. We had a banner year in my household, so I resolved to...
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