How can companies tap the growing spending power of the massive millennial demographic? The Nikkei Asian Review sat down with John Seifert, global CEO of U.S. advertising, marketing and public relations agency Ogilvy & Mather.
Where will future growth come from? Growth is going to come from countries that have the biggest number of people with the purchasing power to extend their livelihoods. We call them the "Velocity 12" or V12, and they are India, China, Pakistan, Indonesia, Bangladesh, Nigeria, Egypt, the Philippines, Vietnam, Brazil, Mexico and Myanmar. Their entry into the middle class is going to outpace any kind of growth opportunity in developed markets.