A recent report by Credit Suisse analysts indicates that Apple Computers could generate an additional $18 per share and $68 billion from sales in emerging markets by 2015. It is the growing middle class in these markets that will fuel this robust growth.
By 2015 244 million consumers in emerging markets will have incomes comparable to middle class consumers in the United States and Europe. Even more striking is that Apple won’t need to drastically alter their product lines or marketing strategies in order to appeal to these customers. Middle class consumers’ desires, despite cultural differences, appear to be relatively consistent. A white-collar worker in China or Brazil wants an iPod just as much as his counterpart in the United States or Germany.
This is good news for companies looking to tap into the growing consumer base of emerging markets. Behind solid economic growth, the middle class is growing in countries like Brazil, Russia, India, and China. And while many companies may find their domestic market to be stagnant, with consumer growth leveling off, the environment abroad is quite the opposite. Emerging markets are environments that exporters need to access.