Social and behavioural change

Social and behavioural change is occurring at a faster pace than at any time in history.

Consumers are more informed and empowered than ever before and -- because digital technology lets consumers compare value and expand their choices -- old notions of value and loyalty are breaking down.

Increasing affluence and urbanisation in the emerging markets are creating new and expanding markets for financial institutions -- especially since city dwellers’ average wealth and demand for financial products and services are generally much higher than their rural counterparts. In fact, some say the real distinction in the financial services sector is not between emerging and developed markets, but rather between city and rural areas.

Forecast size of middle class

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Over the next 30 years, about 1.8 billion people are expected to move into cities -- most of them in Asia and Africa -- increasing the urban population to 5.6 billion.

As incomes in Asia and Africa increase, the global middle class (daily expenditure of US$10-100 in purchasing power parity terms) will more than double to reach some five billion people by 2040.

So what does this mean for your business?

How your company responds to these social and behavioural changes could define your market position for decades to come, providing a decisive opportunity to put clear distance between you and your rivals if you judge the implications correctly, and a mortal threat if you don’t.

The key differentiator will be the ability to anticipate where the market is going on the back of these changes and get in ahead of your competitors. Experience in the travel and music industries suggests that companies that are slow to grasp the implications of change could be quickly marginalised.


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Nigel Vooght If you have any questions, please contact

Nigel Vooght

Global Leader Financial Services

Tel: +44 (0) 20 7213 3960


Andrew R Jurczynski

Global Leader Project Blue

Tel: +31 (0)88 792 6690