“You have a billion people in China that are walking around with a shopping mall in their pocket,” Carter said.
The expansion in the emerging market consumer market is being largely fueled by the rapid adoption of smartphone technologies. Many emerging market consumers’ first interaction with the internet has been through a smartphone or digital handheld device. These consumers are also more apt to utilize their smartphones to shop than to go to big-box retailers.
The emerging market internet segment has also capitalized on the renewed focus on growth-oriented stocks, along with the search for greater value in international markets, such as developing company stocks, as the U.S. equity rally extends with even pricier valuations.
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