Emerging markets is a term that is becoming more widely used as we see a shift with developing countries, watching them move into a more powerful position as they grow at a rapid pace, therefore being more desirable to other first world economies.
The buzzword of the moment is BRIC. This acronym stands for Brazil, Russia, India, China and this terms has recently been expanded to BRICS in order to accommodate the most recent addition to emerging markets, that being South Africa. Even though these countries contain a very low income capita and many of its residents are living below the poverty line, the economic growth of these areas are much faster than those of already developed countries, therefore making them high investment opportunities.
The emergence of these markets is not only in terms of the growth of their economy but also in the midst of their social media expansion. A recent article on the topic of the role of social media in emerging markets referred to the people using social media tools and what this means for the markets.
“The digital world is transforming how they live, develop, and interact and online consumers in these markets are leaving those in the developed world behind in terms of being active online and engaging in new forms of communications.”
The article also reveals that many emerging markets such as China and Egypt are using social media at a more rapid pace as opposed to other areas like Finland, where the increase is not as rapid. I think that the learning process on how to target social media communities in emerging markets is still in its baby stages, but with the growth of these markets exceeding many of our expectations, the time is now.