We are witnessing the Fourth Industrial Revolution, the theme at this year’s World Economic Forum in Davos. It represents the digital revolution, the rise of the collaborative economy and growth expectations that are exponential instead of linear. The economic transformations emerging from this revolution remind us that the business models of yesterday cannot build the business … [Read more...] about The region is evolving. So are we.
Latin America and the Caribbean
Good news for companies and financial institutions interested in tapping into new markets: Peruvians who live at the base of the pyramid (BoP) spent 160 percent more on information and communications technologies (ICT) in 2013 than in 2000 –from US$20 per capita per year to US$52. Currently, four out of ten BoP heads of households use the internet. More than half of them are … [Read more...] about Technology to access an unexplored market in Peru
By Susan Olsen, Lead Specialist, Opportunities for the Majority, IDB Difficulty accessing financing, poor infrastructure and incapacity to scale are cited as reasons why businesses that target the (BOP) fail. Yet, an unwillingness to overcome base of the pyramid stereotypes could easily be the most important explanation as to why some BoP-focused companies aren’t successful. … [Read more...] about Overcoming stereotypes could save your business
Hardly a day passes without a new article on how businesses are analyzing the needs, wants and spending trends of millennials. In the US alone, millennials (or Generation Y), those born between 1980 and 2000, represent 30 percent of the population. By 2025 they will be 75 percent of the workforce of this country. The impact that millennials are starting to have on the global … [Read more...] about Don’t let base of the pyramid millennials catch your company off guard
By Valentina Echeverry, Opportunities for the Majority; and Sergio Navajas, MIF. In Latin America, 60 percent of the population lacks access to financial services, equivalent to approximately 250 million people. However, mobile phone penetration is between 90 and 100 percent. In some countries, such as Colombia, penetration is 105 percent. This indicates that most people … [Read more...] about Financial inclusion just a click away: E-wallets and payment platforms