A survey of 2,700+ SMB decision makers finds a widespread mood of lingering pessimism but glimmers of positivity about their businesses’ economic outlook.
What really drives consumers’ choices around the world? Local differences influence those all-important moments of demand—what consumers need when they purchase and use products and services. Companies that excel at creating products for consumers in global markets understand three vital insights:
- One world, many mindsets. Despite decades of globalization, consumers’ mindsets remain highly localized.
- Global category playbooks are usually a myth. A common global strategy would not be wholly effective in any category.
- Context completes the picture. Although important, attitudes and demographics don’t satisfactorily explain choice unless the analysis also factors in the context in which products are used.
How BCG Helps Clients Leverage Customer Data in Global Markets
How can companies gain insight into the local realities shaping responses to their offerings—and devise effective strategies for succeeding in the global consumer market? That’s where BCG’s global customer data consulting expertise comes in.
Our Specialized Research
BCG’s Center for Customer Insights conducts ongoing proprietary research, building specialized databases that help companies tailor their growth strategies to local conditions.
Consumer Sentiment Research. The research provides our clients and businesses around the world with periodic readings of consumer sentiment, as well as actual and anticipated consumer behavior and spending, to inform our clients’ planning and decision making. This in-depth survey of consumers across multiple countries is conducted in partnership with coding and sampling provider Dynata, the world’s largest first-party data and insights platform. Our Consumer Sentiment Research covers more than 40% of Fortune Global 100 companies across diverse industries.
Global Drivers of Consumer Choice research. We’ve built a state-of-the-art database showing how 64 local contextual factors, 56 attitudes, and 11 demographic characteristics are shaping consumers’ needs and thus their purchase and consumption behavior—across 13 product and service categories. Currently encompassing more than 50,000 consumer interactions in 18 countries, the research will give companies an even more powerful set of global customer insights to use in creating products for consumers in global markets.
Our Proprietary Tools For Customer Data in Emerging Markets
In addition to our research, we deploy sophisticated AI-based tools to bring together huge volumes of data that help decision makers understand how consumer behavior in global markets is changing.
Data Intelligence AI by BCG X uses a potent combination of customer data and a unique AI platform to help clients understand how new realities are influencing customer demand and the competitive landscape in diverse local settings. Armed with insights from this tool, our clients can make the right decisions for better serving the global consumer market. This service offering acts as a control tower for rapid decision making. It unlocks the power of high-frequency data, proprietary forecast models, dynamic visualizations, and operational decision modules to enable companies to swiftly sense demand shifts at a local level and respond with the right operational moves.
Explore Insights About Customer Data in Global Markets
Video
January 26, 2023
BCG managing director and partner
Aparna Bharadwaj looks at under-the-radar affinities that reach beyond individual cultures, highlighting patterns that could bring the world closer together.
Video
July 1, 2024
A BCG Report on Digital Marketing Maturity
BCG’s Javier Pérez Moiño says the report has good news and bad news. Advanced brand marketers are getting results, but overall, marketing maturity has declined.
Meet Our Global Customer Data Consultants
BCG’s team of global customer data consultants operate around the world, and bring deep industry experience and comprehensive knowledge of topics, including global customer data management, consumer needs, consumer behavior in global markets, and global customer data platforms.
