In the 20th century, global economic growth was fueled by populations entering the middle class and consuming more – cars, clothes, chemicals, and more. While the global middle class is still growing, but this growth increasingly doesn’t translate to physical industries. Megatrends like sustainability, the sharing economy, and digital transformation mean that the new middle class will consume less and what is consumed will be far better utilized. Companies that have expanded simply by selling more things will find it harder and harder to grow in this future. This talk explores three strategies that companies can use to navigate this transition and how this new paradigm will impact corporate strategy and the value of innovation.
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