Goldman Sachs’ three factors driving EM millennials
By International Adviser, 19 Nov 17
A report by Goldman Sachs Asset Management into the impact of millennials in emerging markets (EM) has identified three key trends for this increasingly affluent group.
3. Premium Brands
As a result of their increasing purchasing power, millennials in emerging markets are more willing to pay for perceived quality.
In China, the premium segment has seen disproportionately strong growth over the past few years across a wide range of consumer industries.
The investment implications go beyond “luxury” western brands.
Innovative EM companies have also been able to benefit by leveraging their understanding of local tastes and demands, such as Korean cosmetic companies and food and beverages companies in China.
Tags: Goldman Sachs
