Middle and Affluent Class (MAC)

Affluent consumers on the rise: study

Bangladesh has been reported to be ahead of some of its neighbors in generating more middle-income and affluent consumers recently. This is welcomingly sensitive to the prospective consumer product companies. The Boston Consulting Group reported that Bangladesh is adding 2 million people to the Middle and Affluent Class (MAC) every year which can triple from the present number of 12 million to 34 million people in 2025. Consumer product companies thus may home in on the 10.5% annual growth of Bangladeshi MAC, ahead of the growth of Indonesia, Myanmar and Thailand. Currently, Bangladesh only has 7% of 160 million people in the MAC, far behind Vietnam and Indonesia, despite having higher growth numbers.

The people who have annual household income of US $5000 are classified as MAC. This class possesses the purchasing power of a wide variety of convenience and luxury other than necessities, for Bangladesh this being helped by the rising young and working-age population. The median age of Bangladesh is 24 years. 84 million people however are at the bottom of the income pyramid, expecting to reduce considerably by 2025. 

80% Bangladeshi MAC resides in Dhaka and Chittagong, where consumer companies must strengthen operation scales. Concentrations, however are potential to triple in Rajshahi and Khulna, and sixfold in Barisal apart from doubling in Dhaka over the coming decade.

Some interesting facts about the surveyed MAC are: 

• high willingness to spend, 
• better belief of future for children
• higher expected incomes and more demand for consumption
• spending priority on family
• "brand" to be the defining consumption factor