Washington, D.C., May 13, 2014—IFC,
a member of the World Bank Group, today launched the world’s most comprehensive
database on consumer spending patterns in developing countries—a tool
to help private sector companies identify business opportunities that can
benefit low-income people in developing countries.
The Global Consumption Database, launched in cooperation with the World
Bank, is based on government surveys of more than 1 million households
in more than 90 countries. It is available at http://datatopics.worldbank.org/consumption
and can help companies discover untapped demand and design market research
to evaluate business opportunities.
“By making data on spending freely available in a form that is useful
to the private sector, we aim to lower the up-front cost of exploring inclusive
business opportunities—reducing a critical barrier to investment and promoting
shared prosperity,” said Jin-Yong Cai, IFC Executive Vice President and
IFC has a track record in investing in companies that provide access to
affordable goods and services by including low-income consumers, retailers,
suppliers, and distributors in their value chains. Since 2005 it has invested
more than $9.5 billion in debt and equity in more than 400 emerging-market
companies that have adopted inclusive business models (www.ifc.org/inclusivebusiness)
The database indicates how up to 4.5 billion low-income consumers spend
their money. For example, they spend $2.3 trillion on food; $508 billion
on housing; $405 billion on clothing, footwear and personal care; $317
billion on energy; $298 billion on transport; $243 billion on health; and
$193 billion on education. In all, these consumers represent a $5 trillion
market in developing countries.
Consumption data is available by country, rural, or urban location, spending
levels (lowest, low, middle, and higher), and industry sector. For larger
countries (Brazil, India, and South Africa), the dataset provides information
by state or province.
The database was launched at the Shared Value Initiative Leadership Summit
in New York, where leaders from the private sector, civil society, and
government organizations shared experiences in creating shared value between
business and society.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in more than 100 countries, we use our capital, expertise,
and influence to help eliminate extreme poverty and promote shared prosperity.
In FY13, our investments climbed to an all-time high of nearly $25 billion,
leveraging the power of the private sector to create jobs and tackle the
world’s most pressing development challenges. For more information, visit