BD is a rising consumer market

BD is a rising consumer market

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Bangladesh is becoming a large market with a growing number of people from middle-income class affluent consumers, a study has found.Business strategy adviser the Boston Consulting Group (BCG) released the report, titled ‘Bangladesh: The Surging Consumer Market Nobody Saw Coming’, in Dhaka on Thursday.The BCG’s Centre for Customer Insight made the report surveying over 2,000 consumers.The firm’s Malaysia office Managing Director Zarif Munir said the companies that were moving to create a position in Bangladesh now had an opportunity to build a lasting competitive advantage.
According to the report, seven percent of Bangladesh’s 160 million people is from middle-income class or affluent.The firm considers the families with an annual income of $5,000 or more as middle-income or affluent.Their ranks are growing rapidly due to a decade of stable economic growth, a growing working-age population, and strong upward mobility, the report says.Bangladesh’s middle-income and affluent population is projected in the report to triple to 34 million by 2025.State Minister for ICT Zunaid Ahmed Palak, among others, was present at the programme.

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