Future of Consumption in Fast-Growth Consumer Markets
The Future of Consumption in Fast-Growth Consumer Markets is a multi-year project which focuses on the evolution of consumption in emerging markets (China, India, ASEAN) that comprise ove...
Theory of change
The Fourth Industrial Revolution is transforming entire systems of production, distribution, and consumption providing both opportunities for value-creation through game-changing technologies, as well as challenges on ensuring inclusivity. Consumer spending, which drives nearly 60% of world GDP, is an engine for economic activity. Emerging business models that embrace new patterns of consumption enabled by disruptive technologies can stimulate growth and jobs. In brief, to successfully navigate through the Fourth Industrial Revolution, there will be a premium placed on innovation, willingness of organizations to disrupt themselves, and a collaborative spirit.
In this context of seismic change, the World Economic Forum’s Future of Consumption System Initiative envisions a future where benefits of technological advancement are inclusive and firmly embedded in people’s lives, making daily consumption experiences simpler, accessible, highly personal and more enjoyable while also imbued with trust and in harmony with nature. It takes a holistic view of addressing the question, “How can technological disruption drive enhanced models of consumption with sustainable benefits for business and society”, across developed and emerging markets?
Challenges to overcome
In order to achieve the future that the System Initiative envisions, navigating through the unchartered territories of digital disruption will give rise to critical challenges that will need to be addressed:
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