Do you know how many consumers (people who spend the equivalent of US$12 a day on purchases, adjusted for purchasing power) will be added to the planet this year? No less than 112 million people, according to projections by World Data Lab, a company specializing in demographic and consumer data. And this new group of consumers will add purchases of some US$2.8 trillion (millions of millions, equivalent to the markets of Spain and Germany combined).

What are the main trends that will mark the evolution of consumption this year, according to World Data Lab?

1. India's consolidation: 2024 will be the second year in which India will contribute more consumers than China (34 million versus 32 million), reaching 500 million consumers. With this figure, India will become the world's second largest consumer market this year.
2. Older consumers: This year almost half of the new consumers will correspond to people aged 50 or older, while individuals aged 25 or younger will only contribute a quarter of new consumers. This is a trend that is set to grow.. World Data Lab estimates that spending by senior consumers (65 and older) will increase the most over the next decade, with annual growth of 6%.
3. The dominance of the richest: With income gaps steadily widening, it should come as no surprise that higher-income consumers (those spending more than US$80 per day) will dominate consumption. While they represent about 18% of new consumers in 2024, they will account for 54% of the expected growth in spending.
4. Urban dominance: 78% of new consumers entering the market this year live in urban areas and will exceed 3 billion people.