The acronym BRIC was coined in 2001 by economist Jim O’Neill in his paper ‘Building Better Global Economic BRICs’. As you’ll already know, it refers to Brazil, Russia, India and China, which are/were fast becoming economic powerhouses on the global stage.
There are some great innovation, marketing campaigns and cultural and retail offerings coming out of these countries, so I’ll be keeping an eye on interesting things from each of them. I’ve added a K to the end for Korea (North and South) – a short-term ‘One to watch’.
C&A (clothing retailer) in BRAZIL has special hangers which show you the number of ‘Likes’ the garment has had on Facebook, in real time. Really interesting way of mixing online and offline.
With the World Cup in 2014 and the Olympics in 2016, all eyes are on the South American country. Looking forward to seeing how their brands and agencies up their game (even more) on the social media/branding/marketing side of things in the run-up to these events.
RUSSIA will host the World Cup in 2018.
The current budget? 600bn roubles (£12bn/$19bn)
INDIA and CHINA are the focus of a new book about the rising consumer culture/class – The $10 Trillion Dollar Prize: Captivating the New Affluent in China and India, by Michael Silversteen, Abheek Singhi, Carol Liao and David Michael.
Here’s an interesting point about tailoring products to the local market, via FT.com:
“Equally intriguing are the stories of companies that have succeeded in China and India by adapting to local tastes. LG, the electronics group, chanced upon the idea of selling a television with extra loud volume controls and an automatic brightness setting, winning favour from Indians who often watch in noisy family living rooms, or even outside. Their microwaves have regional autocook settings too: rice-based idlis for the south, Bengali fish curry in the east.”
KOREAn food has been tipped as TNBT for quite a while, but the trend seems to be picking up momentum (in London anyway).
And Psy has just become the first South Korean artist to have a number 1 in the UK with Gangnam Style, the most ‘Liked’ YouTube video EVER. (Currently 335,968,539 views and 3,234,379 likes)