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“Progress is impossible without change,
and those who cannot change their minds
cannot change anything”
These words were said by the famous author George Bernard Shaw who lived from 1856 to 1950. He could have said them today because if any word is the buzzword of our present times it is “change”. Much of this change is being driven by growing Internet penetration, increasing trust and confidence in the medium, increasing adoption of Internet enabled devices such as tablets, notebooks and smartphones, and the continuing improvement in delivery options and (online) payment systems.
Consumer spending is fundamental to economic activity and to businesses. For many advanced economies consumer spending accounts for two-third of GDPs, around $27trn. By 2025 annual consumption in emerging markets such as Africa, India, Brazil, Indonesia, is forecast to reach $30 trillion, up from 12 trillion in 2010. Across the globe, the growth of emerging markets and countries continues to create hundreds of millions of new middle-class consumers, a force to be aware of.
Within IORMA we are very much focused on following and identifying trends, patterns and data with respect to global consumer commerce and spending. With this in mind, IORMA provides regular news, reports, articles and data from around the globe.