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lose the middle class market

MIDDLE CLASS MARKET

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class market

Speaking of the market in this modern era, it can be said now the market is divided into two parts, namely the upper class market and the lower class market. while the middle class market is getting smaller or can disappear at any time.

If your company leads to the middle class, maybe you already feel the impact of what is happening right now, and has a bad impact, due to competition that is now uneven anymore. even feel how difficult it is to win the hearts of customers in this middle class.

Can the class grow?

First of all we will talk about, how the market works and the world trends that occur in this modern era.like the example of some brand companies that sell their product prices at unstable prices, generally their sales become worse than companies that make promotions and sales at low prices in a unique and premium way.  30% percent over the same period.

This is in contrast to middle-class companies, whose product sales and price promotions have only increased by 2 percent, even for consumers, most recommend customers to target the lower class market that is premium rather than the middle class market.

This proves that companies based in the upper and lower classes seem to be more balanced than high-end companies, because high-end and lower-end companies are considered to be able to meet the needs of customers in general

Despite this, some observers of macro economic trends who are abroad, such as in the United States, have experienced a poor economic period in the last 10 years, because some lower-income people find themselves struggling for the needs of middle-class homes, while for middle-income people, find the ability to shop is dwindling.

This is due to a surge in prices that jumped drastically such as transportation costs, health care, food to education and housing that rose suddenly.

What about the market for Asia?

market for Asia

For some countries in Asia is actually inversely proportional to some countries in Europe, precisely the middle class in Asia experienced a significant increase.because the definition according to the world bank middle class group, they experience expenditure between 7.5 to 38 dollars per day, this asian middle class group is considered the main driver of economic growth, Because the group's consumption rose from 12% to 13% percent every year, since 2002. It now represents nearly half of all the middle groups in Asia.

But it is still considered new, because the middle class in Asia is only strong in terms of consumption not production. which is where the community group likes to shop for needs that are not too important for daily needs, just because they want a new lifestyle, so it is considered excessive and the way it can have an impact that is vulnerable to economic turmoil, Only 50 percent of those who have become middle class were able to survive as middle class in 2014, while 40 percent dropped to the lower class and 10 percent became poor or lower class. because this middle class is difficult to compete, especially for small businesses that crawl up, Moreover, it is more difficult for the best stock market class to become the top company due to competition for imported products.

What kind of strategies need to be done to keep the middle class growing and staying stable?

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best stock class

The way maybe the company must first understand the financial customers and offer sales mix that is in harmony with the needs of consumers, so that we can see the relationship between customers who have a high enough purchasing power. and customers who have low purchasing power, whose purchasing power includes from categories, clothes, cosmetics, food, hobbies, health, to daily needs.

Consumers on low incomes are 40 percent more likely to shop at discount retailers, or supermarkets, compared to high-end or wealthier groups.Conversely higher-income consumers are 60 percent more likely to shop online or glance at the best stock market classes.

What do you think !!!,so what strategy you should do to win this middle class, and how you build your company's products, whether it should start by offsetting the price first.

write your opinion in the comments field, so we can share conclusions about a good strategy to run, and don't forget to give a reason.

by booble people

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