Women the biggest emerging market, not Ch-India: Nooyi

Women are the biggest emerging market in the world, according to Pepsico’s Chief Executive Officer, Indra Nooyi.

Across the globe, women are the biggest emerging market in the history of the planet – more than twice the size of India and China combined,” she said, according to NDTV Profit, which reproduced her valedictory speech at Ad Asia 2011, a media, marketing and advertising event that concluded on Thursday, on its website. “There is plenty to give us cause for optimism. But we need to know how to unlock the potential.”

That point was reinforced by a study by Boston Consulting Group discussed  at the event, which said women control two-thirds of the global consumption expenditure of $18 trillion, according to a report in The Economic Times.

PepsiCo Chairman and Chief Executive Officer Indra Nooyi. Reuters

However, women in Asia control a smaller proportion of the household spend than their western counterparts. In Japan, women control 63 percent of the household's total consumption, while it is 50 percent in China and 44 percent in India.

The report also said women, whose buying power is much larger than the total consumer spending in India and China, are dissatisfied with the marketing efforts in categories such as financial services, cars, banking, investments and life insurance, according to the study, 'Women Want More', which surveyed 15,000 women across the world including 5,000 in Asia.

Of course, that doesn't mean Nooyi -- or Pepsico --plans to ignore the conventional meaning of the term "emerging markets. During her speech, she said growth in the $62 trillion economy, which is likely to increase to $300 trillion in the near future, would be powered by emerging markets like India.

If we get a 50:50 emerging market-developing market ratio, then we would have done a great job but it will be through buy and big organic investments,” she said.

India-born Nooyi’s enthusiasm for the emerging markets is understandable given that Pepsi’s second quarter results saw its revenue rise on high growth in emerging markets, said Mint, which quoted international media reports. Pepsico’s revenues rose 14 percent to $16.8 billion, with emerging markets seeing an 18 percent increase in sales over the previous year.

Nooyi also made several other interesting points during her speech, most of which were widely reported in the media.

Some of the best lines are reproduced below.

“Speed and agility have become our best allies. The only way to function is to be lean and low cost.”

“Great ideas have no borders. We need to be open to new thinking, from new places.”

“We need to make big changes to big things.”

“Disruption is now our friend, not our enemy. So my advice is to disrupt yourselves deliberately. If you don’t, the competition will.”

“Attracting and developing the right talent is now perhaps the most important leadership task.”

”Leaders in the new era will need courage, confidence, perseverance, accountability, openness to new ideas and the ability to manage rapid change. It’s quite some person we’re looking for.”

“Attracting and developing the right talent is now perhaps the most important leadership task.”

Updated Date: Nov 04, 2011 12:30 PM

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