At dataPlor, we know that the best way to gather data and insights on emerging market small businesses is in person. We sent our general manager in Guadalajara out on a mission to understand how hyperlocal businesses communicate with customers and potential business partners and suppliers.
Companies doing business in emerging markets face a major problem: a lack of reliable business data. Fortunately for global companies, a new tool is available to make speedy data collection and verification a reality. No matter your industry or location, this tool brings light to a previous dark void of information: emerging market small businesses.
For the past several years, most reputable research firms and consulting groups have echoed the same piece of advice for CPG companies: Invest in Emerging Markets. When reading through the“ “forward looking trends” compilations from these think-tanks, many consider it the most critical pillar for revenue growth.
At dataPlor, we know that emerging markets are one of the best places to look for revenue growth. Economic growth is decelerating in developed countries, venture investment is going down, and competition is high in most industries.
One industry on track to experience high growth insync with the economic trend of emerging markets is mobile payments. Specifically the kind that attach to smartphones—Mobile Card Readers (or MCRs). According to Technavio Research, the MCR market will grow 54% from 2017 to 2021, largely supported by growing economies in LATAM, Southeast Asia, and Africa.
Emerging Market expansion is a hot topic in business today. Gartner research reports that 40-60% of business growth will come from emerging economies in the next decade.