Consunova A consunova is an economic term given to a phenomenum occurring in countries which are considered developing countries The definition of consunova is as follows The simultaneous combination of three key consumer elements resulting in rapid growth to economic sectors The three consumer elements required for the consunova to occur are as follows i An increasing number of consumers in the respective country at a rate greater than global average ii An increasing rate of spend per consumer on an annual basis greater than the global average iii An accelerated rate of technology adaption being of the consumers For example China and India are experiencing a consunova