Urbanisation is transforming global consumer markets and business landscapes, creating both opportunities and competitive pressures. This report reveals how evolving urban consumer behaviour, rising sustainability demands and digitalisation are reshaping urban economies. Businesses that leverage data-driven insights, technology and innovation can enhance efficiency and resilience, and capture volume growth, adapting their strategies to better serve a diverse, tech-savvy urban population.
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This report comes in PPT.
Urban areas continue to be the epicentres of consumption, with a significant concentration of economic activities and wealth. However, challenges such as affordability and income disparity persist. Businesses can capitalise on this trend by offering products and services tailored to evolving urban consumers’ needs, focusing on value-driven and personalised solutions.
Rapid urbanisation in emerging Asia is driving the rise of new metropolitan hubs, with cities such as Ho Chi Minh City, Bangalore and Shenzhen set to more than double their economic size by 2040. Rising incomes and evolving consumer aspirations are fuelling rapid volume growth across consumer goods and services and driving spending towards discretionary goods and digital commerce.
Urban areas are taking greater steps to tackle climate change and address environmental challenges. Renewable energy sources, energy efficiency measures, clean mobility and circular economy solutions are increasingly embraced by authorities, businesses and consumers to mitigate climate change impact and promote a greener future.
The adoption of technologies such as artificial intelligence of things (AIoT) and 5G is transforming urban landscapes, improving efficiency, enabling real-time decision-making and enhancing digital-first public services and consumer interactions. However, concerns over cybersecurity and data privacy will require businesses and authorities to adopt transparent and secure digital practices.
Amid rapid population ageing and intensifying urban health issues, cities are prioritising health-centric urban planning, integrating inclusive infrastructure, green spaces and smart solutions to reduce noise, pollution and enhance wellbeing. Businesses meet the evolving needs of urban populations by offering products and services that promote health, wellness and inclusivity.
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