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India will be No. 1 in growth for the next half-decade at least. India has never led the world in total media ad spending growth before, but it will do so this year and every year through 2027. As for digital, India led the world in growth last year, at 26.0%, and will keep that perch through 2027. The top 10 list for digital growth looks a lot like the top 10 list for total media growth.

In India, TikTok was banned in 2020, leading to a higher rate of penetration for Snapchat. Additionally, the penetration rate for social users in India is relatively low due to the country鈥檚 more rural population and slower adoption of devices with internet connectivity. Social users in India will grow 6.9% in 2023, outpacing the region as a whole by a wide margin.

Acquirers, networks, and issuers each play distinct roles in the payments purchasing chain. But those roles are shifting as providers adapt to the rise of software and value-added services, increased payment method choice, and cloud-based innovation.

Focusing on India: India is one of the strongest markets for Snapchat, with more than 211 million users this year and 60% penetration in the 13-to-24 age demographic, per Wells Fargo. It鈥檚 also a strong market for Snapchat+, which is significantly cheaper there than in the US.

India, China, and Japan will all post slower ecommerce growth than last year, but the declines will be minimal. India in particular will remain among the world鈥檚 fastest growers across both total retail and ecommerce. Southeast Asia, meanwhile, will see a modest uptick after a shaky 2023. Latin America will be the top region for ecommerce growth, but not overall.

Ralph Lauren鈥檚 growth plans are focused on expanding its women鈥檚 business, including apparel and handbags, as well as broadening its reach in China and India. The context: Personal luxury sales soared in 2021 and 2022 as younger and middle-income consumers splurged on high-end goods.

The bottom line: PhonePe stands to bulk up its revenues by capitalizing on its vast reach鈥�1 in 4 consumers in India use it鈥攊f it can get customers to embrace investing and insurance products. That will also help give it an edge against major rivals like Google and Amazon as it builds out what could become a super app.

I'm originally from India. Marcus Johnson (01:47):. Whereabouts? Aashish Takkala (01:48):. Hyderabad, India. South. Marcus Johnson (01:49):. Ah, okay. Very nice. And Jasmine, based in California, but from? Jasmine Enberg (01:54):. I was born just outside of Helsinki, Finland. But I kind of grew up all over, so I don't really know where I'm from. I'm from LA these days. Marcus Johnson (02:02):.

India, the Philippines, Indonesia, Malaysia, and Thailand are just a few of note. Digital advertisers would do well to pay close attention to these markets.

Those days are over for China, and although India is still a growth driver, it won鈥檛 be enough to make up for China鈥檚 sluggishness. We increased our latest 2022 growth estimates, but reality will set in this year. Six months ago, we projected a 4.7% gain for retail sales in 2022. Now we put that figure at 6.9% thanks (mainly) to inflation and (less so) to lingering post-pandemic pro-spending behavior.