While analyzing contemporary international business data, Brazil and China are great examples to study on as they are part of the new global business powerhouses or emerging economies. Both these countries along with India and Russia make up the powerful BRIC economic bloc. Comparing the consumer data from Brazil and China with that of an already developed economy like Canada, can provide a more wholesome perspective on consumer spending globally.
Consumer spending is on the rise in countries like Brazil and China riding heavily on the shoulders of a burgeoning economy in both these countries. Consumer spending can generally be broken down into three types of purchases viz., essential goods and services, useful goods and services and discretionary goods and services. (Farnworth, C. R., 2004)
Food purchases account for more than 30 percent of the total spending for the month in China in 2008, while in Brazil it was 17 percent. Coming to useful goods and services, both in China and Brazil, nearly 20 percent of consumers who earned roughly the equivalent of $2000 or lower every month intended to purchase property in the next couple of years. For discretionary goods and services, coming over to a product like branded sportswear, (Karam, K. F., 2001) 62 percent of consumers from among the low income bracket in Brazil were likely to buy them in the 12 month period ranging from March 2011 to March 2012. This is actually the highest percentage of likelihood to buy branded sports goods from among any income group from countries like Brazil, China, India, Saudi Arabia, Egypt, Indonesia etc. These countries due to their expanding economies can be put on an almost equal footing for such consumer behavior studies. (Darolt, M. R., 2002)
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