Going by the quantum of change in the world markets since the turn of the century, the transformation has been remarkable. If we were to extrapolate and gaze at the picture of the markets in 2020, it could be sensational.
Let’s begin closer home. The Indian markets have just begun to explode. With a likely population of billion and half by 2020, we should be the toast of every major brand in the world. With the economy expected to move fast forward, improved per capita income will increase consumer spend.
The biggest impact though is from digital technologies. Media, Internet and mobile will continue to make dramatic inroads into interior India delivering utopian connectivity. While they educate, their role in economy is to play a level playing field for all brands. They are together responsible for giving a massive penetration for e-commerce in India. Looking at the trends of last couple of years, e-commerce could witness a huge leap. With supportive government policies, lifestyle related sectors could see a sharp rise.
Worldwide, the markets will largely be defined by the democratic forces at work in the respective regions. Markets like China, Russia, Brazil and Indonesia are on the way up, driven primarily by higher per capita incomes. Developed markets should sustain the tempo.
From an individual firm’s point of view, agility and the ability to reinvent, on a dynamic basis, will emerge as the must-have traits. We have seen and are convinced that Davids can beat Goliaths, in any field. That rule has gone out of the window. We are also seeing tremendous innovation happening in rather staid or unexpected industries. Take the personal transportation area. Just see the shakeup in the cabs market in India, with newer players challenging established practices through innovative ideas. If it can happen to a cab, why not to myriad other areas, industries, sectors and nations? And the best part is that such a disruptive change does not need much time. A year in today’s world is a long time for significant change to happen. So, 2020 that way, seems lightyears away!
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One can expect disruptive changes that will make an impact. The world has seen nothing yet.