A Rural Consumer Growth Story
4 November 2016: SAGE Publications in association with Federation of Indian Chambers of Commerce and Industry (FICCI) released the book Rise of Rural Consumers in Developing Countries: Harvesting 3 Billion Aspirations by Vijay Mahajan. This is the first comprehensive book on the expanding consumer power of rural markets in developing countries.
The book provides a profile of the rural developing world and examines the forces that are increasing rural prosperity, including billions of dollars in remittances from migrant workers. It includes several examples of innovations and best practices that companies are adopting to tap into this emerging opportunity.
The author has mainly focused on top 10 countries with the largest rural populations—India, China, Indonesia, Pakistan, Bangladesh, Nigeria, Ethiopia, Vietnam, Egypt, and the Philippines. These “Rural Top 10 countries” account for two-thirds of the entire world’s rural population, thus representing a massive market opportunity for progressive consumer companies.
Dr A Didar Singh, Secretary General, FICCI, in his welcome remark stated, “the book reflects Prof. Vijay Mahajan’s close observation of rural consumer behavior across the developing world and his keen understanding of these markets. Prof Mahajan’s exemplary enterprise in exploring the potential of rural markets of the Asian and African nations provides significant insights that are of immense consequence".
Speaking at the occasion, Professor Vijay Mahajan, said “Rural is not equivalent to poor and urban not equivalent to rich. Around 86% of the world population has a GDP of less than 10000 USD per capita and through this book, I would like to showcase the strategies that forward-thinking companies, NGOs, and social organizations are using to reach rural consumers as they have realized that the greatest opportunities for growth can no lon¬ger be found simply in developed countries and urban centers in emerging economies.
In his address Mr Nirankar Saxena, Senior Director, FICCI applauded the author for his research, he said “the book is an amalgamation of prof. Mahajan’s comprehensive academic research and intensive fieldwork and it shall serve as a required read for CEOs, policymakers, and academics alike to appreciate the potential of rural consumer base".
The release was followed by a panel discussion on the book featuring Prof. Vijay Mahajan, author, Dr A Didar Singh,Secretary General, FICCI, Ambassador Jonathan Addleton, Mission Director, USAID India, Mr Nirankar Saxena, Senior Director, FICCI, Mr Sanjay Shukla, National Head Marketing, Hero Motor Corp and Mr Sankalp Potbhare, Head, Sales Development & Strategy, Reckitt Benckiser.
Rise of Rural Consumers in Developing Countries by Prof. Vijay Mahajan was released at an event held in New Delhi.
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