Busting "myths" about China's low-income consumers: Learnings from P&G
Low Lai Chow
Four years ago, Cindy Malixi Graulty, an R&D research fellow in Procter & Gamble's beauty care division, was set a challenge: to uncover opportunities among Chinese consumers earning $2 a day or less.
According to Graulty, around 2.1 billion people – or 40% of the population – fall into this cohort worldwide. China not only houses a large number of these consumers, but is also an essential market for major brands operating across multiple price-points.
"We didn't have a good understanding of this group of consumers,"...