The richness of the masses
In 2012, Euromonitor International forecasts that there will be 3.7 billion urban residents worldwide. The number of urban dwellers globally will continue to increase, both in 'traditional' megacities such as New York but also in new hubs such as Chongqing and Guadalajara. Meanwhile, a whole mass of new arrivals to cities, often falling into the so-called 'bottom of the urban pyramid' category, may have less disposable income but aspire to a higher consumption that will extend to more space and health cover.
City dwellers make up a rich tapestry of consumer types increasingly sophisticated, demanding, connected and interested in new brand offerings and experiences. Everything from tastes in cuisine and culture to shopping preferences and technology-driven real-world meet ups and interactions are broader. This allows for an often buzzing brand creativity responding to busy city consumer needs in food service, fresh and packaged foods, clothing and the arts. 2012 megacities are hubs of new and established ethnic groups and culture, older people with trend-sensitive lifestyles, students, highly skilled and low income migrant workers, consumers on city breaks, LGBT (lesbian, gay, bisexual and transgender) consumers and cross-generational households.