In 2011, GENERATION G(ENEROSITY) will continue to give. Consider EMERGING GENEROSITY, which is about brands and wealthy individuals from emerging markets (yes, especially China) who will increasingly be expected to give, donate, care and sympathize versus just sell and take. And not just in their home countries, but on a global scale. It’s a profound cultural change and a consumer demand that their counterparts in mature markets have had a few years to getting used to. Some fun stats:
- 86% of global consumers believe that business needs to place at least equal weight on society’s interests as on business’ interests.
- 78% of Indian, 77% of Chinese and 80% of Brazilian consumers prefer brands that support good causes, compared to 62% of global consumers.
- 8 in 10 consumers in the India, China, Mexico and Brazil expect brands to donate a portion of their profits to support a good cause. (Source: Edelman, November 2010.)
- The number of millionaires in India in 2009 grew 51 percent, to 126,700. (Source: Merrill Lynch, June 2010.)
- 88-year old Yu Pengnian became China’s first billion dollar philanthropist in April 2010. The Yu Pengnian Foundation today has USD 260 million of bank deposits, and a Hong Kong and Shenzhen property portfolio worth just under USD 1 billion, which is expected to contribute USD 50 million of cash each year to the foundation. (Source: Hurun Rich List, October 2010.)
- In September 2010, Bill Gates and Warren Buffett hosted a dinner for China’s ultra-rich to promote philanthropy. The event was similar to their efforts to get US billionaires to pledge to give away at least half their wealth, although the two denied that they were recreating the pledge or pressurizing people to give, merely using the event to answer questions and discuss issues around developing a culture of philanthropy. (Source: Washington Post, October 2010.)
This year, any brand or individual doing exceptionally well, will be expected to join GENERATION G. Thanks to shifts in power and a relentless TRANSPARENCY TRIUMPH, the ones who don’t know how to give will have no excuses left, and nowhere to hide.
Source: www.trendwatching.com. One of the world’s leading trend firms, trendwatching.com sends out its free, monthly Trend Briefings to more than 160,000 subscribers worldwide