“MarketPro data has been fundamental to our new strategy”
Paul Finch I Marketing Director East and West Africa
Colgate-Palmolive is using MarketPro for long term planning in Africa, mapping the prospective market across consumer income levels. These insights on the total addressable market have triggered many work streams, including product innovation and new communication campaigns.
After approaching WDL in 2016 and 2017 to identify markets with the highest growth of the global middle class, L’Oréal’s team was able to identify over 30 markets with the greatest opportunities, which helped L’Oréal reach 1 billion customers.
WDL Middle-Class Growth forecasts proved indispensable for the L’Oréal Consumer Products Division and now L’Oréal has an enterprise subscription to MarketPro, incorporating WDL forecasts into their consumer
L’Oréal's Consumer Products Division uses MarketPro population and spending forecasts to define their total addressable markets. With WDL estimates, L’Oréal has been able to benchmark its progress towards reaching the next billion consumers.
With WDL’s granular spending forecasts, L’Oréal was able to discern a significant increase in the Indian Lower Class ($11-50/day). Based on this, L’Oréal CPD teams defined this group as a key target group, identifying their “core consumer” base in this market. L’Oréal uses this data for classification of customers as A /B / C / D / E, e.g., with effects on strategic targeting (media, geolocation, niche groups like Muslim beauty)
Thanks to WDL spending forecasts, L’Oréal managed to grow its presence in Asia, especially in India. According to L’Oréal representatives, India became one of its most successful subsidiaries. The company aims to reach 100 million more customers by 2020, doubling its targeting in India.
“At the Consumer Products Division, we use the WDL data to help standardize our core target audience, because WDL data gives us a clear mapping of the middle class of the world and how they will grow in the coming years.”
Asmita DubeyChief Digital Officer, Consumer Products Division, L’Oréal, March 2020
WDL data is one of the main components of HSBC’s equity market forecasting strategy. HSBC’s developed an exclusive publication for high net-worth investor clients on equity perspectives in emerging markets. This included granular forecasts by age and gender for key economies.
“This data provides us with new insights into emerging and frontier markets. It was invaluable for our quarterly strategy report.”
John Lomax Head of Emerging Markets, HSBC, December 2018