“IFC, a member of the World Bank Group, today launched the world’s most comprehensive database on consumer spending patterns in developing countries—a tool to help private sector companies identify business opportunities that can benefit low-income people in developing countries. The Global Consumption Database, launched in cooperation with the World Bank, is based on government surveys of more than 1 million households in more than 90 countries. It can help companies discover untapped demand and design market research to evaluate business opportunities…IFC has a track record in investing in companies that provide access to affordable goods and services by including low-income consumers, retailers, suppliers, and distributors in their value chains. Since 2005 it has invested more than $9.5 billion in debt and equity in more than 400 emerging-market companies that have adopted inclusive business models. The database indicates how up to 4.5 billion low-income consumers spend their money. For example, they spend $2.3 trillion on food; $508 billion on housing; $405 billion on clothing, footwear and personal care; $317 billion on energy; $298 billion on transport; $243 billion on health; and $193 billion on education. In all, these consumers represent a $5 trillion market in developing countries. Consumption data is available by country, rural, or urban location, spending levels (lowest, low, middle, and higher), and industry sector. For larger countries (Brazil, India, and South Africa), the dataset provides information by state or province.”
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