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Wednesday, September 7, 2011

The impact of global supply and demand on local consumers

A Media Post blog titled Engage:  Affluent gives us another category to consider when it comes to the issue of global supply and demand.  Today’s posting suggests that couples in China are joining the world market for diamonds.  Click here to see the post.

Implications:  For quite some time now, I’ve been pointing-out the impact of expanding economies in China and India as forces that will put pressure on the worlds supply of oil, various food commodities and more.  But as the middle- and upper-income population grows, we’ll feel the effect in a lot of product categories.

Have you seen it in your product category?  Does it influence the price you can offer consumers?  Have you thought about ways of placing more focus on the experience or appeal of your product or service… and shifting to a focus on the way you enhance the consumer’s life?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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