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Market research services

Design new experiences with expert-led research.

Design world-class research studies, get high-quality feedback from any target audience, and quickly surface the insights that drive your business.

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The world’s best brands power insights with qualtrics, global market research at your fingertips.

We’ve executed over 28,000 projects and worked with 3,000 different brands around the world

MARKET OPPORTUNITIES

Find the white space in your market with everything from market positioning and benchmarking studies to attitudes, habits, and usage studies

PRODUCT LAUNCHES

From testing initial concepts to honing in on the perfect name and pricing strategy, we’ll do the market research to help your next launch go perfectly.

BRAND STUDIES

From advertising and message testing to understanding the secret sauce that will generate loyalty with your target customers, we’ll design the brand research you need to grow.

Start your research project now

Get to insights faster.

Do more research, more efficiently and take action in real-time as the needs of your business, and your consumers, change.

Build and deploy research faster with dedicated research project managers
Streamline data collection, analysis, and reporting through dynamically updated dashboards
Track research progress in real-time and make adjustments on the fly

Make decisions with confidence

Get high-quality data that’s backed by research expertise and trusted by stakeholders across the organization to help drive action.

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On hand, wherever you need support

Need a team to take a project on from end to end? Or looking to bring in expertise for specific stages, or to provide additional capacity? Our flexible services model lets you adjust the dial and get the support you need, whenever you need it.

Online samples

Your next breakthrough needs a market research panel designed for faster, more consistent, and higher quality insights. With our proprietary online samples, you can get insights from any audience around the world and accurately track trends and shifts in your market over time

Choose any target audience and we’ll give you access to a representative sample
Boost the accuracy of your tracking studies with a sample methodology that’s 47% more consistent than standard sampling methods
Launch best-in-class studies with support from your dedicated team at every stage, from launching your survey to reporting on the results

Measurable intelligence for every part of your business

Whatever type of research project you’re running we can take care of some or all of it through our flexible services model. Just let us know where you need support, and we’ll step in and take care of the rest.

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Market Research Services

Growthink’s business market research services.

Growthink conducts comprehensive industry, customer and competitor analyses in order to determine market opportunities. Our research team then assesses each of the opportunities, determines the optimal ones, and creates action plans for effective market penetration.

Importantly, our market research practice is supported by subscription access to most of the world’s leading research and intelligence databases, including IBISWorld, Statista, Capital IQ, Hoovers, Compete.com, Frost & Sullivan, First Research, DealNexus, and BizBuySell, among others.

Competitive Intelligence

We define top competitors and analyze their strengths and weaknesses to help gain and steal target market share
We identify opportunities and create strategies that will result in a sustainable competitive advantage.
We help capitalize on emerging opportunities and identify areas for improvement.

Customer/Consumer Research

We help define customer segments, needs, and behaviors in order to identify unmet customer needs and/or opportunities for business growth.
We help determine receptivity of new products or services.
We help uncover the precise needs of customers, how these needs are currently being fulfilled, and what is required to better satisfy these customers.

Industry Analysis

We provide in-depth industry analysis, data, trends, market share and forecasts to help start and grow your business.
We help understand predicted market conditions, as well as supply and demand within a specific industry.
We provide valuable industry insight and trends to help determine marketing and growth strategies.

Feasibility Studies

We provide in-depth analyses to help determine how sound the current business ideas are and evaluate the project’s potential for success.
We uncover the strengths and weaknesses of an existing business or proposed venture, as well as the opportunities and threats.
We assess economic, technological, legal and scheduling factors to determine potential positive and negative outcomes of a project.

Industry Expertise

Growthink’s business market research services span almost every major industry in the U.S. as well as many niche and international markets and industries. Our research is an essential tool in helping entrepreneur’s successfully complete their business plans and investor presentations as well as understand their industry and market potential.

Representative Clients

Dakim, Inc.

Building on market and competitive research completed by Growthink, Apex by Sunglass Hut secured $10 million in capital and developed an expansion plan upon which they executed and expanded from 10 to 22 mall locations in the U.S. and Australia from 2013 to 2014.

The Salvation Army

Deustche Bank

Let Growthink’s experts help your business.

Frequently asked questions.

Qualitative market research is a type of market research that provides insights into people’s attitudes, opinions, and perceptions. This type of market research is used to understand the “why” behind customer behavior.
Quantitative market research is a type of market research that provides numerical data on market size, market trends, and other statistical information.
Market-segmentation market research is a type of market research that segments the market into different market opportunities.
Competitive market research involves studying and analyzing the strategies, capabilities, and activities of current and potential competitors.

The market research process consists of five steps:

Define the market opportunity/problem.
Collect market information (primary and secondary sources).
Analyze market data to identify opportunities.
Determine recommendations based on findings from primary and secondary sources.
Develop an action plan to take advantage of market opportunities using market growth strategies.

Sometimes. A market research study is an objective report that provides market data, market projections, market shares, demographics, and trends. The market analysis goes beyond the statistics to examine the marketplace in-depth. At Growthink, we combine both approaches when undertaking a project for our clients so they can get the market data analysis and actionable insights they need. Clients often want market research experts to help determine market size, market share, market trends/drivers, market projections including CAGR (Compound Annual Growth Rate), market penetration (penetration pricing strategies), customer receptivity to new products or services, product acceptance factors among customers, market opportunities, market challenges, and market risks.

Market research services generally range from $5,000 (very simple projects such as compiling available industry data) to $75,000 (such as a market analysis that requires primary or secondary data collection and analysis). Contact us today for a quote. For small businesses on a budget, check out our Done For You Market Research services.

Leading market research services include both primary and secondary data sources which can be used together or independently.

Primary Data Sources

The best source for marketing information is from customers. However, when research is conducted in a market that is different from the company’s market, market researchers need market information from outside the organization. Primary data sources include customer experience surveys, focus groups, consumer attitudes, personal interviews, and direct observation. These sources of market data are considered primary because they usually provide the most current and accurate market information.

Secondary Data Sources

Secondary data sources provide market information from noncustomers. Secondary data can be either published or unpublished. Examples of published market reports include the Wall Street Journal, USA Today, and trade magazines such as Music Trades. Unpublished market reports include consumer demographics available from the U.S. Census Bureau and reports from market research companies such as Nielsen. Secondary Data Sources include U.S. Census Bureau, market research reports from companies, trade magazines, and consumer demographics available from the U.S. Census Bureau.

Data Mining

Data mining is a process of finding patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems. Data mining typically involves market-segmentation analysis which identifies market opportunities based on unstructured data gathered through secondary sources.

Market research services provide market intelligence on market size, market trends, market opportunities, and market risks. This vital market information can help companies better serve their existing customers and attract new customers to their business. Growthink’s team of market research experts will determine the best market strategy for your company by providing you with a detailed market analysis that is specific to your market.

Yes. Growthink’s market reports include analyses that are geared toward your specific market segment(s), target audience, and industry. These market reports include the following information:

market trends
market size
market share
market growth
market structure
market opportunities
strategic recommendations for business development
market barriers
market risks
market entry strategies
market exit strategies

11 Top market research services and solutions that deliver expert insights

Insights from your target customers can turn your business into a long-term profit-generating machine—but only some organizations have the budget to employ teams of market research experts. That’s where tools and external partners come in.

These solutions and services bring benefits by the boatload, including fast, quality insights into consumer behavior, trends, and into how your competition is performing. By providing easy-to-interpret data, they empower you and your colleagues to make informed decisions. The right tool saves valuable time and resources, allowing you to focus on your core business.

Sounds good? Since every business has different needs, we’ve compiled a list of options to find one that fits you.

Here’s the summary of services in our list:

Get quality consumer insights fast with Attest

Make sure you’re giving customers the products and services they want! Gather reliable insights with Attest to make better decisions for your business.

The strength of market research tools and surveys is most obvious when you use them proactively, quickly, and with the right questions—Attest makes all of that easy. Our intuitive platform helps you spot shifts in the market landscape, allowing you to stay a couple of steps ahead of competitors and make informed strategic decisions that help your companies like yours offer consumers more of what they want.

One of the key advantages Attest customers love is how we’ve combined an easy-to-use survey platform and designated research advice to give you a truly comprehensive market research service. Whether your job title includes junior or chief, our platform gives you what you need to gather reliable consumer research quickly.

Key features:

All our packages come with a designated research manager who advises you in how best to create the perfect survey, how to analyze your respones, and how to move forward with your market research projects.
Send your surveys to a representative audience of 125 million people in 59 countries . Customize your survey audience with precise targeting options to ensure highly relevant results.
We give you consumer insights you can trust by combining multiple high-quality sample sources . With three layers of quality control—including human and machine-learning processes—you can confidently use your responses for informed business decisions.

Average Rating (G2): 4.5 out of 5

Pricing: Your first survey is on us! Find out more about Attest pricing .

We use the data from Attest to engage with prospects or existing clients and bring them global insights – that’s something that was missing in the past. It provides support to our teams to have discussions with key clients. They have been impressed with our ability to pull out industry data that quickly. Jim Dores, International Marketing Manager, JCDecaux OneWorld

Start gathering consumer insights you can trust

With Attest you get reliable consumer insights fast, and you get designated research advice at every step to make sure your research project is as good as it can be!

2. SurveyMonkey

SurveyMonkey is an online survey tool with a user-friendly interface and a wide range of customizable survey templates.

Create surveys effortlessly using the platform’s user-friendly interface and customizable templates.
Pick from a range of question types to gather the specific information you need, including multiple-choice, rating scales, open-ended, and more.
Analyze survey results in real-time using built-in tools and generate insightful reports to uncover trends and patterns from the collected data.

Average Rating (G2): 4.4 out of 5 stars

Pricing: their cheapest plan, Team Advantage, starts at $25 per user per month, with a minimum of 3 users to get started with.

3. Typeform

Typeform is the tool that makes market research looks good on both ends. It stands out with its sleek and interactive survey design, forms and quizzes that enhance respondent engagement and improve response rates.

Create engaging research with dynamic and interactive elements such as conditional logic, multimedia content and conversational interfaces.
Typeform surveys are optimized for mobile devices , ensuring a seamless experience for respondents across various platforms.
Collect, analyze and export survey data with Typeform’s intuitive data management tools, including built-in analytics and integration options for seamless data transfer.

Average Rating (G2): 4.5 out of 5 stars.

Pricing: The most basic plan starts at 25 USD per month but only allows for 100 monthly responses. The business plan costs 83 dollars and will let you receive 10,000 responses.

Suzy is a versatile market research tool for US-based businesses . It makes it easy to collect qualitative data and customer feedback and conduct user research, offering a variety of research methods, like 1-1 video interviews and survey questions—almost like focus groups.

Survey templates help you get started in seconds.
Make your surveys match your branding, thanks to the customization options .
Conduct live interviews with people anywhere.

Average Rating (G2): 4.7 out of 5 stars

Pricing: Reach out to their team for info on pricing.

Psst: looking for UK solutions and services? Check out these UK market research companies .

Gartner is a leading global research and advisory firm focusing on technology and market trends.

Gartner’s team of analysts and experts possess deep industry knowledge and provide valuable insights and recommendations to help businesses navigate complex market dynamics.
Access Gartner’s extensive library of research reports , which cover a wide range of topics, including technology trends, market forecasts and strategic insights.
Benefit from Gartner’s advisory services , where businesses can engage with experts for personalized guidance, strategy development, and implementation support.

Average Rating (G2): 4 out of 5 stars

Pricing: This varies per project, so reach out to Gartner for a quote

6. Pollfish

Pollfish is a market research tool that works best for sending short surveys, quickly testing a concept, and tracking brand metrics or customer satisfaction.

AI-powered surveys mean you get super quick support in creating surveys.
Mobile-optimized surveys are sent to respondents when they are using a third-party app.
Easy concept testing capabilities to quickly validate assets like logos.

Pricing: Their cheapest plan starts at $95 which allows you to collect up to 100 completed surveys with up to 5 questions.

Nielsen is one of the biggest global analytics companies. They are best known in the US for the famous Nielsen ratings, measuring the audiences for television, radio and newspapers in media markets.

Nielsen offers audience measurement solutions that provide detailed information on consumer demographics, media consumption habits, and advertising effectiveness.
Nielsen’s retail measurement services provide valuable insights into consumer purchasing behavior.
Nielsen brings on board extensive data and advanced analytics capabilities for expert research.

Average Rating (G2): No rating available.

Pricing: Every project is different, so pricing is too. Reach out to Nielsen for a quote.

8. Google Trends

Google Trends is a completely free market research tool that lets you compare trends and watch them evolve. You can uncover basic yet useful data on the interest in specific products, brands and other keywords.

Search term analysis over time lets you see how frequently a term is being searched and where in the world it’s most popular.
The related topics and queries feature will give you an idea of the other search terms closely related to your original search term to give context to trends.
Compare multiple search term s, you can see how your brand stacks up against the competition.

Pricing: Free

Focus groups with 1,000 people sounds like chaos and not focused at all, but with Remesh it is possible. They let you gather qualitative feedback at a quantitative scale for several research applications, thanks to AI.

Remesh works like scalable focus groups . You can launch a live conversation with an audience that is relevant to you, with up to 1,000 target customers at once.
Ask in-depth questions to many people at once and let live AI analysis uncover trends and themes, compare responses and segment your audience, all automatically.
Different question types mean you can keep the conversation flowing with open-ended questions and polls and even add visuals to clarify what you are asking about.

Average Rating (G2): 4.2 out of 5 stars

Pricing: You can get pricing info by requesting a demo.

Latana is a market research tool with a focus on tracking brand performance. You can uncover your growth potential by calculating market size, define purchase drivers and measure brand awareness and how it changes after you launch new campaigns.

Industry benchmarking helps you understand where your brand ranks by comparing your KPI data against your competitors in an interactive dashboard.
Latana works with mobile-first micro surveys which consumers can access through in-app surveys.
An MRP algorithm selects the right audience for your business, increasing data quality.

Average Rating (G2): No rating is available yet.

Pricing: Book a demo with Latana to find out more about their pricing and plans.

11. Qualtrics

Qualtrics is an all-in-one market research solution with different tools and platforms for your research needs.

Survey tool with audience management where you can purchase access to millions of respondents through Qualtrics.
Analyze your existing data with statistical tests and watch how Qualtrics churns out data visualizations.
A variety of market research tools to research purchase behavior, market segmentation, competitor analysis benchmarking and more.

Pricing: There’s a free survey maker that lets you gather 500 responses. Request a demo for all other market research tools to learn more about pricing.

Which market research service is best for you?

When choosing a right market research solution, think about how much you want to invest in the research process in terms of time, effort and budget. Look for a platform that offers a streamlined experience and provides dedicated support and reliable data, but also leaves you in control of the process.

That’s where Attest’s market research services come in. With our easy-to-use platform and the support of a dedicated research manager, you can conduct thorough, reliable research at speed. Try our product research or market analysis template to get a feel of it all.

See how to gather reliable insights fast with Attest

Schedule a demo with our research experts to see how you can use Attest to make better decisions for your customers (and for your business!)

Market research services FAQs

There are a few top contenders like Attest, Nielsen, Gartner, and Pollfish. Each has its strengths, so it’s essential to consider your research objectives, target audience, and available resources to find the best service with your requirements and project.

We don’t want you to conduct market research to get data you can’t do anything with. That’s why you get a designated research manager who offers advice throughout your project, ensuring you can take action based on your learnings. Attest’s platform also give you these quality insights at a speed your organization will thank you for.

It’s all about staying proactive and getting to know the ebb and flow of your market. With market research solutions, you uncover market opportunities, fine-tune your marketing strategies, and can develop a long-term plan for your business.

Elliot Barnard

Customer Research Lead

Elliot joined Attest in 2019 and has dedicated his career to working with brands carrying out market research. At Attest Elliot takes a leading role in the Customer Research Team, to support customers as they uncover insights and new areas for growth.

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End-to-end market research and consulting services to ensure your research is on the right track., research services for every step of your research journey.

Partner with a team of experienced professionals dedicated to finding high-quality insights for your business and helping you make informed decisions. Using industry-leading tools and techniques, we can assist in every step, from research design to scripting, sampling, fielding, translations, data processing, and even reporting and analysis. Let us know where you need help; we can support you at every stage.

Your services partner for qualitative, quantitative, and dual-method studies

We’ve covered everything from prescribing research models to supporting your qualitative, quantitative, and dual-method studies. Outsource a part of your market research to us or the entire process end-to-end, and we will take care of the research, analysis, and insights development.

An extension of your internal research teams

We can partner with you at whatever stage makes sense for your business. Let us do the heavy lifting while you focus on what matters most to you! Our experienced researchers can support your team to free up time and resources for your most valuable tasks.

Full-service market research at your request

Understand your business through better data literacy and make more intelligent business decisions. create meaningful long-term strategies to maintain a competitive business edge., your research is made easier with our expertise, survey design & programming.

Ask the right questions in perfectly modeled surveys to give you the highest bang for your buck.

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Get customized reports and dashboards with role-based access to get from data to insights quickly.

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Manage the community from planning to set-up to co-create with your top promoters. Quali-quant, mobile, and reporting, we do it all.

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Statistical and analytical experts with special knowledge of the QuestionPro ecosystem manage your market research projects end-to-end with no-pause support.

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Market Research Services

Comprehensive market insights to accelerate business growth

In a rapidly evolving market, enterprises need a constant pulse on market opportunities and threats. We spot market change early on to help you respond quickly through our holistic market research services that involve industry tracking, technology scans, and market assessments.

Netscribes offers the most comprehensive market intelligence and analysis to inform your marketing and business growth strategies. By applying a variety of qualitative and quantitative research techniques we deliver accurate and comprehensive insights to enable quick and confident decisions.

Our Market Research Services include

Competitive intelligence

Track competitors to benchmark products, services, and processes, identify threats and market opportunities and recognize evolving best practices.

Market assessments

Assess market conditions for growth through a close analysis of the industry landscape, market trends, competition, and alternative products/services.

Sales intelligence

Build robust sales strategies through accurate prospect data and insights.

Industry research

Obtain a broad view of industries to identify megatrends, competitive landscapes, and growth opportunities.

The Netscribes advantage

Netscribes’ custom market research services help you inform strategy and maximize impact through:

Technology-driven research and analysis

We combine traditional market research expertise with innovative tools and technologies to deliver more accurate insights faster and more efficiently.

Global panel network

With an active panel of over 37 million respondents spread across the globe, gather market insights from hard-to-reach business and consumer audiences.

Access to premium databases

Leverage our access to premium databases for accurate information about countries, industries, companies, patents, and more.

Extensive industry expertise

Leverage our expertise in various disciplines, including Manufacturing & Supply Chain, Technology Healthcare, Retail & Consumer Goods, and Financial Services.

Explore growth opportunities in complex, global markets with our research expertise

Obtain competitive intelligence.

Products/solutions benchmarking

Gain insight into how your offerings compare against competitors in the market across key metrics, including market share, business and product capabilities, and customer satisfaction. Use these insights to inform better product decisions, including what features to add, improve, or remove.

Competitive tracking

Identify competitive threats and build counter-strategies by monitoring competitive activity. In addition to traditional research, we leverage alternative data sources, such as social media sentiment and consumer reviews, to facilitate better analysis and action plans.

Customer information and deal analysis

Gain data-backed diligence on the quality of customers, market dynamics, and value creation to efficiently navigate hyper-competitive deal environments.

Understand markets and identify opportunities for growth

Market ecosystem analysis

Get a 360-degree view of the market to help you identify megatrends and growth opportunities.

Go-To-Market (GTM) study

Obtain insights into your target market through customer perception and buyer behavior analysis and identify unmet opportunities and collaboration possibilities.

Market entry strategy study

Gain a thorough understanding of the focus market, regulatory environment, consumer behavior, and more before you expand into unknown turfs.

Partnership assessment study

From amplifying margins to reducing business risks and future-proofing, perform due diligence to make calculative investment and alliance decisions.

Drive sales effectiveness

Company analysis

Get detailed profiles of target companies, focusing on their capabilities, organizational structure, turnover, growth, and competitors.

Account intelligence

Achieve better results from your ABM initiatives with relevant account insights and targeted marketing content.

Battle cards

Tackle objections and communicate your value proposition more effectively with our tailored, well-researched battle cards.

Executive profiling

Gain in-depth insight into specific roles and responsibilities, tenure, qualifications, and requirements of executive profiles, senior managers, and key decision-makers in the firm.

Track industry trends

Future scenario based on country outlook

Obtain a comprehensive outlook into the GDP, unemployement, and per-capita income forecast along with macroeconomic indicators to gain a tangible understanding of your industry.

Business-level indicators

Evaluate the consumer and business confidence index, and inflation forecast along with a country-specific credit-rating outlook to make calculative investment decisions.

Maximizing opportunities: The role of market research in CPG strategy

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Drive strategic growth and gain a sustained competitive edge with netscribes’ market intelligence services.

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Success stories

Leveraging sales intelligence for a multinational telco

The telecommunications landscape is at a crossroads. Competition is fierce, margins are thin, and customer expectations ...

Read how Netscribes helped a multinational telco understand trends impacting performance with telecom sales intelligence solutions.

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How a market opportunity assessment helped a sterile equipment cover manufacturer boost profit margins by focusing on specific products.

Market assessment of nutraceutical supplements and excipients in India

The nutraceutical supplements and excipients market in India is witnessing significant growth, driven by a number of fac...

Read how we conducted a nuanced assessment of the Indian nutraceutical excipients market for our client, helping them gain growth strategies.

Assessment of Service Contracts in India for Imaging and Ultrasound

For healthcare technology providers, service contracts are key to shaping innovation and patient care. More than agreeme...

Discover how a healthcare technology provider gained detailed insights into services contracts associated with healthcare systems.

IVI architecture and ADAS analysis of the top three OEMs for a global motor vehicle manufacturer

In the dynamic realm of motor vehicle manufacturing, staying at the forefront demands deep understanding and strategic i...

A comprehensive analysis of how OEMs maintain seamless functioning and user interface of ADAS and IVI stack in their respective platforms.

Understanding India’s plastic circular economy: Waste management & recycling

Global corporations are increasingly recognizing the importance of sustainable practices, even in emerging markets like ...

In rewriting the narrative of waste witness how our collaboration catalyzed meaningful change within India's plastic circular economy.

Supply-side ecosystem and pricing analysis: Voluntary carbon offset market

The voluntary carbon offset market ecosystem is a complex network of entities and mechanisms designed to address the iss...

Explore how we assisted comprehending the complex voluntary carbon offset market ecosystem through in-depth supply chain & pricing analysis.

Market entry assessment study: analyzing market potential and feasibility

The Indian pharmaceutical market has been one of the fastest growing in the world, with a projected CAGR of 10-12% over ...

Gain a better understanding of the target product segment through a comprehensive healthcare market research study.

Market landscape analysis of safety index among Fortune 500 companies

Employee safety is a critical aspect for Fortune 500 companies. Companies that invest in safety training and technology,...

Unlock valuable insights into safety practices among Fortune 500 companies with our comprehensive market landscape analysis.

In-depth market intelligence on the use of AI in cyber insurance and security

The integration of Artificial Intelligence (AI) in cyber insurance and security marks a paradigm shift in protection aga...

Gain market intelligence insights into AI adoption in the cyber insurance and security market - a study we conducted for a global ITeS giant.

Market assessment study of IV solutions and injectables in the UAE

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See how a IV solutions provider was able to benefit from a market assessment study that focused on the industry demand and growth in the UAE.

Research on barriers to financial protection and inclusion for select countries

Several countries face notable barriers to financial protection and inclusion, hindering the economic well-being of thei...

See how a financial mammoth was able to better align its efforts towards promoting financial protection and inclusion using competitive intelligence.

Market Assessment of contract management for a leading clothing brand

For clothing brands to understand their target customers and identify the latest trends and consumer preferences in the ...

Learn about the contract manufacturing landscape of the Indian apparel market, through this market assessment for a leading clothing brand.

Market landscape analysis for Glass Fiber-SMC in the automotive sector

Sheet molding compounds (SMC) have been around since over half a century and have found varied automotive applications l...

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gaming trends and market landscape analysis

In-depth analysis of emerging Gaming Trends and Market Landscape for a tech stalwart

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Pharmaceutical benchmarking to assess growth opportunities

With digital innovations and smart technologies in R&D taking the pharmaceutical industry by storm, it is now more i...

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E2W and E3W market assessment case study

A leading two-wheeler manufacturer dives into E2W and E3W market assessment

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Assessment of China’s Hepatitis B treatment market

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Epidemiological study and market assessment of formulae for Pediatric Chronic Kidney Disease

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Automotive excellence through brand performance assessment

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techniques to assess customer satisfaction

Healthcare market entry: Major barriers and how to overcome them

market intelligence data for post-pandemic success

How market intelligence data can position your business for post-pandemic success

The competitive intelligence process decoded

Measuring brand performance to improve market positioning

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Kadence’s reports give us the insight, conclusion and recommended execution needed to give us a different perspective, which provided us with an opportunity to relook at our go to market strategy in a different direction which we are now reaping the benefits from. Sales & Marketing Bridgestone

Kadence helped us not only conduct a thorough and insightful piece of research, its interpretation of the data provided many useful and unexpected good-news stories that we were able to use in our communications and interactions with government bodies. General Manager PR -Internal Communications & Government Affairs Mitsubishi

Kadence team is more like a partner to us. We have run a number of projects together and … the pro-activeness, out of the box thinking and delivering in spite of tight deadlines are some of the key reasons we always reach out to them. Vital Strategies

Kadence were an excellent partner on this project; they took time to really understand our business challenges, and developed a research approach that would tackle the exam question from all directions. The impact of the work is still being felt now, several years later. Customer Intelligence Director Wall Street Journal

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SGA offers customized solutions using qualitative and quantitative research techniques, focus groups, purchase history analysis, and product reviews to drive the innovation process, insights understanding, and marketing delivery. Our analysis and insights help look below the surface for a deeper understanding of consumers and their behavior. We use in-depth consumer data to understand who they are, what motivates them, customer segmentation through primary research, their buying behavior, and buying decisions to create detailed consumer personas and customer journey maps as they enable the personalization of products based on consumer needs.

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Our team of market research consultants strive to address your business inquiries by leveraging data and insights produced by SMEs and network of analysts. SGA will deploy tailored research solutions by understanding the problem, designing the research approach, and presenting consumable insights across multiple sectors. Our market intelligence helps organizations become customer-centric, understanding market demands and consumer opinions, collecting real-time relevant data, boosting upselling opportunities, reducing risks, increasing market share, and gaining a competitive advantage.

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Emergence of Novel Immune - Mediated Therapies

Immunotherapy has emerged as a promising treatment for cancer, with immune checkpoint inhibitors (ICIs) dominating the market. The market is projected to...

Future Trends and Technological Advances in Vaccine...

The introduction of vaccines for key diseases, such as meningococcal meningitis A, hepatitis E, and malaria, in recent years has helped to reduce mortality...

Trends to Watch 2024 - Media Broadcast Tech

2024 Trends to Watch -TV & Video Technology

Media enterprises are steadily witnessing margin pressures attributed to the emergence of newer audience engagement touchpoints such as FAST channels,...

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SGA Helped a Leading Pharmaceutical Innovator to Understand the Disease Landscape for a Rare Indication in the US

SGA Helped a Leading Biotechnology Company With Continuous Monitoring of the Competitive Landscape in Pulmonary Arterial Hypertension(PAH)

Delivered a Comprehensive Market Assessment for a US-based Biotechnology Company

How We Leveraged our Expertise and Provided Buyer Outreach Strategies and Messaging for a US-based Healthtech Startup

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From leading-edge custom online communities and panels for today’s tech-savvy consumers that help you connect with your customers in new more relevant ways to questionnaire design to survey programming to data crunching & reporting, we offer a full menu of market research services and deliver with top notch quality.

Touchstone Research, Inc. is one of the most experienced and advanced online market research firms. We are known for innovation, leading-edge technical solutions and excellence in customer service and product delivery.

Our belief is that marketing research must be as fast-moving, dynamic and ever changing as is today’s consumer-centric tech-world: it is important to embrace new consumer technologies and include them as tools and methodologies so that we can reach people and communicate with them in new and more relevant ways leading to better insights and understandings.

Full Service Next Gen Market Research Company Ready to Meet Your Research Needs. We are familiar with a range of methodologies, have thousands of projects behind us, worked with numerous clients, have been out there for 25+ years. We have seen it all and are ready to tackle your next research task. Tech-driven, budget-friendly, next gen market research team is here to help.

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Touchstone Research Promotes Alexis Warnick to Research Manager March 22, 2024
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As a leading market research consulting services company, SG Analytics helps its clients across the US design competitive strategies based on in-depth customer and market understanding. Our research experts help clients identify and leverage growth opportunities through our effective market research and analysis strategy by ensuring maximum research coverage. With expertise in market intelligence and business strategy , we help businesses discover new opportunities for product development.

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Build a deeper understanding of the factors that influence the customers' decisions and patterns
Assess customer satisfaction, loyalty, advocacy pain points, and expectations
Consumer insights to improve value proposition, overcome barriers to adoption, and innovate faster
Build buyer personas across various customer segments and identify touchpoints to plan your marketing
Identify customer segments to personalize your marketing and branding activities

Leading Market Research Company

Extensive Primary Research Capabilities

G lobal Reach

4m+ B2B and B2C panelists
1m+ in-house CATI respondents
75 + countries across regions

D iverse Research Techniques

Online surveys
Telephonic interviews
Focused group discussions
UX research (Diary studies)

Our Expert's Community

Global reach

50+ markets covered across Americas, EMEA, and Asia-Pacific

Transparency

100% recordings and live barge-in facility

Industry Expertise

Insights-based approach driven by sector expertise

Multi-lingual Capabilities

40+ languages covered globally

Insights that enhance understanding of current and target markets

Technology and Management Consultants

Opinion pieces and thought leadership collateral

Market Research Firms

Key insights that drive strategic inputs for end-clients

Boutique Research Firms

Sector experts across BFSI, Healthcare, Technology, Media and Entertainment

Whitepapers

Emergence of Novel Immune - Mediated Therapies

Immunotherapy has emerged as a promising treatment for cancer, with immune checkpoint inhibitors (ICIs) dominating the market. The market is projected to...

Future Trends and Technological Advances in Vaccine...

The introduction of vaccines for key diseases, such as meningococcal meningitis A, hepatitis E, and malaria, in recent years has helped to reduce mortality...

2024 Trends to Watch -TV & Video Technology

Media enterprises are steadily witnessing margin pressures attributed to the emergence of newer audience engagement touchpoints such as FAST channels,...

CASE STUDIES

SGA Helped a Leading Pharmaceutical Innovator to Understand the Disease Landscape for a Rare Indication in the US

SGA Helped a Leading Biotechnology Company With Continuous Monitoring of the Competitive Landscape in Pulmonary Arterial Hypertension(PAH)

Delivered a Comprehensive Market Assessment for a US-based Biotechnology Company

How We Leveraged our Expertise and Provided Buyer Outreach Strategies and Messaging for a US-based Healthtech Startup

Talk To Our Experts

Let us introduce you to a selection of experts who bring best practices of success in research and consulting to help enable faster, smarter decisions.

VP- Research

VP - Market Research

AVP - Primary Research

Manager - Research

SVP - Market Research

Sr. Manager - Market Research

Talk to our Experts

Provide tailored market research solutions by understanding the business problem, designing the right research approach, and presenting actionable insights..

Market Research: A How-To Guide and Template

Discover the different types of market research, how to conduct your own market research, and use a free template to help you along the way.

MARKET RESEARCH KIT

5 Research and Planning Templates + a Free Guide on How to Use Them in Your Market Research

Updated: 02/21/24

Published: 02/21/24

Today's consumers have a lot of power. As a business, you must have a deep understanding of who your buyers are and what influences their purchase decisions.

Enter: Market Research.

Whether you're new to market research or not, I created this guide to help you conduct a thorough study of your market, target audience, competition, and more. Let’s dive in.

Table of Contents

What is market research?

Primary vs. secondary research, types of market research, how to do market research, market research report template, market research examples.

Market research is the process of gathering information about your target market and customers to verify the success of a new product, help your team iterate on an existing product, or understand brand perception to ensure your team is effectively communicating your company's value effectively.

Market research can answer various questions about the state of an industry. But if you ask me, it's hardly a crystal ball that marketers can rely on for insights on their customers.

Market researchers investigate several areas of the market, and it can take weeks or even months to paint an accurate picture of the business landscape.

However, researching just one of those areas can make you more intuitive to who your buyers are and how to deliver value that no other business is offering them right now.

How? Consider these two things:

Your competitors also have experienced individuals in the industry and a customer base. It‘s very possible that your immediate resources are, in many ways, equal to those of your competition’s immediate resources. Seeking a larger sample size for answers can provide a better edge.
Your customers don't represent the attitudes of an entire market. They represent the attitudes of the part of the market that is already drawn to your brand.

The market research services market is growing rapidly, which signifies a strong interest in market research as we enter 2024. The market is expected to grow from roughly $75 billion in 2021 to $90.79 billion in 2025 .

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Why do market research?

Market research allows you to meet your buyer where they are.

As our world becomes louder and demands more of our attention, this proves invaluable.

By understanding your buyer's problems, pain points, and desired solutions, you can aptly craft your product or service to naturally appeal to them.

Market research also provides insight into the following:

Where your target audience and current customers conduct their product or service research
Which of your competitors your target audience looks to for information, options, or purchases
What's trending in your industry and in the eyes of your buyer
Who makes up your market and what their challenges are
What influences purchases and conversions among your target audience
Consumer attitudes about a particular topic, pain, product, or brand
Whether there‘s demand for the business initiatives you’re investing in
Unaddressed or underserved customer needs that can be flipped into selling opportunity
Attitudes about pricing for a particular product or service

Ultimately, market research allows you to get information from a larger sample size of your target audience, eliminating bias and assumptions so that you can get to the heart of consumer attitudes.

As a result, you can make better business decisions.

To give you an idea of how extensive market research can get , consider that it can either be qualitative or quantitative in nature — depending on the studies you conduct and what you're trying to learn about your industry.

Qualitative research is concerned with public opinion, and explores how the market feels about the products currently available in that market.

Quantitative research is concerned with data, and looks for relevant trends in the information that's gathered from public records.

That said, there are two main types of market research that your business can conduct to collect actionable information on your products: primary research and secondary research.

Primary Research

Primary research is the pursuit of first-hand information about your market and the customers within your market.

It's useful when segmenting your market and establishing your buyer personas.

Primary market research tends to fall into one of two buckets:

Exploratory Primary Research: This kind of primary market research normally takes place as a first step — before any specific research has been performed — and may involve open-ended interviews or surveys with small numbers of people.
Specific Primary Research: This type of research often follows exploratory research. In specific research, you take a smaller or more precise segment of your audience and ask questions aimed at solving a suspected problem.

Secondary Research

Secondary research is all the data and public records you have at your disposal to draw conclusions from (e.g. trend reports, market statistics, industry content, and sales data you already have on your business).

Secondary research is particularly useful for analyzing your competitors . The main buckets your secondary market research will fall into include:

Public Sources: These sources are your first and most-accessible layer of material when conducting secondary market research. They're often free to find and review — like government statistics (e.g., from the U.S. Census Bureau ).
Commercial Sources: These sources often come in the form of pay-to-access market reports, consisting of industry insight compiled by a research agency like Pew , Gartner , or Forrester .
Internal Sources: This is the market data your organization already has like average revenue per sale, customer retention rates, and other historical data that can help you draw conclusions on buyer needs.
Focus Groups
Product/ Service Use Research
Observation-Based Research
Buyer Persona Research
Market Segmentation Research
Pricing Research
Competitive Analysis Research
Customer Satisfaction and Loyalty Research
Brand Awareness Research
Campaign Research

1. Interviews

Interviews allow for face-to-face discussions so you can allow for a natural flow of conversation. Your interviewees can answer questions about themselves to help you design your buyer personas and shape your entire marketing strategy.

2. Focus Groups

Focus groups provide you with a handful of carefully-selected people that can test out your product and provide feedback. This type of market research can give you ideas for product differentiation.

3. Product/Service Use Research

Product or service use research offers insight into how and why your audience uses your product or service. This type of market research also gives you an idea of the product or service's usability for your target audience.

4. Observation-Based Research

Observation-based research allows you to sit back and watch the ways in which your target audience members go about using your product or service, what works well in terms of UX , and which aspects of it could be improved.

5. Buyer Persona Research

Buyer persona research gives you a realistic look at who makes up your target audience, what their challenges are, why they want your product or service, and what they need from your business or brand.

6. Market Segmentation Research

Market segmentation research allows you to categorize your target audience into different groups (or segments) based on specific and defining characteristics. This way, you can determine effective ways to meet their needs.

7. Pricing Research

Pricing research helps you define your pricing strategy . It gives you an idea of what similar products or services in your market sell for and what your target audience is willing to pay.

8. Competitive Analysis

Competitive analyses give you a deep understanding of the competition in your market and industry. You can learn about what's doing well in your industry and how you can separate yourself from the competition .

9. Customer Satisfaction and Loyalty Research

Customer satisfaction and loyalty research gives you a look into how you can get current customers to return for more business and what will motivate them to do so (e.g., loyalty programs , rewards, remarkable customer service).

10. Brand Awareness Research

Brand awareness research tells you what your target audience knows about and recognizes from your brand. It tells you about the associations people make when they think about your business.

11. Campaign Research

Campaign research entails looking into your past campaigns and analyzing their success among your target audience and current customers. The goal is to use these learnings to inform future campaigns.

Define your buyer persona.
Identify a persona group to engage.
Prepare research questions for your market research participants.
List your primary competitors.
Summarize your findings.

1. Define your buyer persona.

You have to understand who your customers are and how customers in your industry make buying decisions.

This is where your buyer personas come in handy. Buyer personas — sometimes referred to as marketing personas — are fictional, generalized representations of your ideal customers.

Use a free tool to create a buyer persona that your entire company can use to market, sell, and serve better.

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Global EV Market Analysis 2024—Trends and Forecasts

From 2019 to 2023, global Electric Vehicle (EV) sales grew by 506%. From regional policies to consumer sentiment, several factors have brought the EV market to where it is today. While EV sales have improved significantly in recent years, ABI Research has witnessed a market growth slowdown. In developed Western countries, EV prices are still mostly premium, making Internal Combustion Engine (ICE) cars a more affordable option for average consumers. There is a limited number of early adopters willing to pay the premium price for an EV. Now, automakers must find a way to tap into the mainstream consumer base to broaden the market.

Governments with zero-emissions targets, notably in Europe, have driven EV demand through financial incentives. However, as Germany and the United Kingdom scale back EV subsidies, the European EV market is expected to slow down. Meanwhile, the U.S. EV market is too centered around Tesla as the carmaker and California as a customer base.

China has been the most significant EV market, with the country continuing to experience sales growth higher than the rest of the world. BYD’s local presence has undoubtedly been a huge contributing factor, providing Chinese consumers access to affordable entry-level EVs.

Overall, the EV market outlook is positive and on a clear upward trajectory with tremendous potential. However, recent market data forecasts from ABI Research illustrate short-term market growth stagnation in major regions.

Key Takeaways

While the EV market will still experience sales growth in 2024 and beyond, it won’t be at the same rate as recent years.
China remains the top regional market for EV carmakers
The economically critical countries of Germany and the United Kingdom have curtailed EV incentives, causing a dip in sales for Europe as a whole.
EV adoption rates in the United States lag behind Europe and Asia, as there is a lack of real competition to Tesla.
Public charging infrastructure is expected to be built rapidly throughout the decade to support the upcoming electrification transition.

Global EV Sales Outlook in 2024

ABI Research forecasts that 16.84 million EVs will be sold worldwide in 2024, a 21% Year-over-Year (YoY) growth. However, this sales growth is a sharp decline compared to the 31% sales growth in 2023 and 60% in 2022. The EV market slowdown can largely be attributed to a lack of government incentives for consumers to purchase an EV and the high Manufacturer’s Suggested Retail Prices (MSRPs) of EVs in Europe and North America.

YoY EV sales growth will sustain a rate of around 20% throughout the rest of the decade, never reaching pre-2024 levels. As governments ramp up their zero-emissions targets and Original Equipment Manufacturers (OEMs) develop lower-priced models, annual EV sales volume is expected to climb to 47.44 million by 2030.

China Continues Its EV Market Dominance

Asia-Pacific is easily the largest EV market in the world, with China’s EV industrial focus being the most influential factor. China is home to the new EV market leader, BYD , an automobile manufacturer holding 35% of the country's EV market share. The Shenzhen, China-based company possesses huge supply chain advantages over competitors , allowing it to offer consumer-friendly price points.

While EV adoption has somewhat hit the brakes in China, ABI Research asserts that the country is still in a very healthy state and will sustain its dominance throughout the decade. Chinese EV sales are estimated to grow by 23% in 2024, outpacing global sales growth. Much of this growth comes from the recent price war led by Tesla and BYD, dragging in other Chinese OEMs. These OEMs have cut their EV prices to win over the price-sensitive Chinese customer base. Moreover, new EV brands such as Geely’s ZEEKR, Huawei’s Aito, and Li Auto ignite further consumer excitement for EVs in China.

Our market analysis also indicates that 2 out of 3 EV purchases worldwide will be made in the Asia-Pacific region this year. As other regional markets mature, Asia-Pacific’s EV market share will shrink slightly to 55% by 2030.

How Is Europe Faring?

EV adoption has largely been solid across Europe, particularly in affluent Western European countries. In 2024, my team and I expect EV sales to grow by 15% YoY, totaling 3.35 million total shipments. While this sales growth is consistent with the last few years’ growth rates, it’s a far cry from the explosive 65% and 143% YoY growth for EV sales in 2021 and 2020, respectively. The main reason for this sales stagnation is the rollback of government policies to incentivize consumers to purchase EVs.

A key trend to be aware of is the relationship between government subsidies and EV adoption rates. Germany and the United Kingdom have recently withdrawn subsidies for citizens who purchase an EV. Germany eliminated a €6,750 subsidy for BEV owners at the end of 2023, succeeding the United Kingdom’s elimination of £1,500 EV grants in 2022 . Government incentives have proven to be an essential factor in EV market proliferation. Considering Germany and the United Kingdom account for almost half of total EV sales in Europe, these subsidy rollbacks will cause the European EV market to slow down a bit in 2024. In contrast, countries with strong government incentives—France, the Netherlands, Belgium, etc.—are experiencing significant and sustained EV sales volumes.

ABI Research believes that introducing entry-level EVs will help push wider EV adoption on the continent, despite a lack of subsidies in some countries. The good news is that my team forecasts 12.55 million annual EVs to be sold in Europe by 2030, more than 4X the number of EVs sold in 2023.

EV Sales in North America Held Back by Premium Prices

North American EV sales grew by 49% in 2023, reaching 1.56 million shipments. However, that trend will be short-lived, significantly dipping to 21% in 2024. This equates to a total of 1.9 million EV sales for the year. Considering the high population and heavy presence of automakers in the region, EV sales volume in North America is lackluster compared to Western Europe and China.

Outside of California—where a third of U.S. Battery Electric Vehicle (BEV) registrations are held—EV adoption hasn’t taken off meaningfully. Moreover, most OEMs have struggled in the U.S. market, with Tesla holding an impressive 55% EV market share . A lack of competition hinders EV innovation and keeps prices relatively high.

Carmakers such as Ford and General Motors (GM) have recently reduced their 2024 EV sales targets as consumer demand is not strong enough. A recent Autolist survey suggests the lack of EV demand in the United States comes from high sticker prices, range anxiety, and a lack of charging infrastructure . Moreover, the United States lacks the widespread EV incentives that many European Union (EU) members offer. Until OEMs can offer reliable EV models at entry-level or mainstream price points and build out widespread charging stations, the electrification transition will be hindered in the country.

Constructing gigafactories, such as Gotion’s planned US$2 billion battery plant in Illinois , will be key to facilitating the mass production of EVs across North America. Many hurdles will be addressed in the next couple of years, stimulating broader demand for EVs in the second half of the decade. ABI Research expects North American EV sales to be 7.84 million annually, a five-fold increase compared to 2023’s figures.

Public EV Charging Infrastructure Must Be Built

Range anxiety is a top reason for consumer skepticism of EVs. Coupled with a lack of widespread charging infrastructure, there is justified skepticism about EVs. After all, consumers shouldn’t have to worry about finding a charging station when their EV battery is drained. Indeed, it should ideally be just as easy to find an EV charging station as it is to find a gas station.

There is still a concerning discrepancy between the number of EVs on the road and the number of public charging points. More specifically, the geographic coverage of chargers must expand to accommodate a wide range of driving use cases (e.g., highway, suburbs, metropolitan, etc.).

In 2024, there will be 31.4 EVs per every public Direct Current (DC) charging point, which are essential for fast and ultra-fast charging. For Alternating Current (AC) charge points, the ratio is 14.4 EVs per charging point (see more in the Public EV Charging Points by Type chart ).

My team and I anticipate that OEMs and other EV stakeholders will invest significantly in building out the necessary charging infrastructure. Our recent EV charging infrastructure market data posit that more than 23 million EV public charging points will be installed between 2024 and 2034. The number of public charging points will increase five-fold in that time span, from 5.8 million to 28.9 million. Building this charging infrastructure now is vital for consumers to feel more comfortable buying an EV later.

EV Market Summary

The pace at which the EV market is progressing has come to a slowdown in all the major regions. While EV sales are expected to still be on the rise again in 2024, it won’t be nearly as high an adoption rate as during previous years. In Western Europe, EV sales growth should ideally be looked at on a country-by-country basis due to differing government policies. For example, while Germany’s BEV sales are expected to dip by 11% in 2024, France's BEV sales will increase by 25%. Unlike Germany, France has kept its consumer incentives for purchasing EVs.

This trend is not dissimilar to the EV situation in the United States. California sells the most EVs in the country by a long shot, hitting a record number of sales in 2023 . While California already has a huge population, the state also has the highest EV sales penetration ( 25% ). Like France, Belgium, the Netherlands, and other European nations, California’s government provides rebates for consumers who purchase or lease a zero-emission vehicle. In this regard, a state-by-state analysis makes more sense for gauging the U.S. EV market.

Finally, China has perhaps set the gold standard for the EV industry. Although the country has mostly rolled back its national government subsidies, some tax exemptions and financial incentives remain at the municipal level. Even more, many Chinese EV industry players like BYD have achieved near-parity price points with ICE vehicles. For the average consumer, lower sticker prices make EVs a more realistic option for their next car purchase. In the coming years, ABI Research expects carmakers in Europe and North America to also lower their EV price points, which will create an inflection point for EV adoption and accommodate bans on fossil fuel vehicles. Until the automotive industry can offer affordable EVs and provide ubiquitous charging infrastructure, hybrid vehicles may be a necessary stepping stone to a fully electric car future.

For a full evaluation of the current and future EV market, download ABI Research’s The EV Market Slowdown report.

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The Survey of Consumer Expectations: A Look Back at the Past Decade

Olivier Armantier, Gizem Koşar, Giorgio Topa, and Wilbert van der Klaauw

It has been a little over ten years since we started releasing findings from the Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE). In this post, we review some of the headline findings from the first decade of the survey’s history, highlighting the evolution of consumers’ expectations about inflation and labor market outcomes.

A New Approach to Tracking Consumer Expectations

The SCE is a nationally representative, internet-based monthly survey of a rotating panel of about 1,300 household heads in the United States. The survey collects timely, high-frequency information about consumer expectations for a broad range of macroeconomic and personal economic outcomes.

The survey was the outcome of a six-year development project , the focus of which was to examine existing measures of inflation expectations and propose more quantitative alternative measures. In addition to inflation expectations, our objective was to capture consumers’ degree of uncertainty about future inflation and elicit their expectations about many other economic outcomes. This development and testing phase involved best-practice survey design approaches , including collaborations with renowned psychologists on cognitive interviews and follow-up surveys, and the pretesting of survey questions using randomized survey-based experiments. Another important design component of the SCE is its rotating panel structure—whereby each respondent stays in the panel for twelve months and a share of respondents rotate out of the panel each month, being replaced by new respondents. This design enables researchers to study how individual consumers revise their expectations over time.

Over the past decade, the SCE has expanded considerably in scope. Each month, the “core” questionnaire elicits expectations from a stable panel of consumers on a broad variety of macroeconomic and personal topics, covering outcomes such as inflation, unemployment, home price changes, credit availability, individual wage growth, the likelihood of losing or finding a job, household spending, and income growth. In 2014, we started reporting findings from two special survey modules, on housing and credit access , fielded at annual and triannual frequency, respectively. In 2017, we introduced the SCE labor market module, followed in 2019 by the household spending and public policy modules, all fielded at a triannual frequency with series generally dating back to 2014 or 2015. Over the past ten years, we have also asked a wide range of special questions on timely topics (related, for instance, to the Affordable Care Act, CARES Act stimulus payments , and the 2022 spike in gasoline prices ) and conducted survey field experiments to improve our understanding of how individuals form and update expectations, and how these in turn affect their behavior.

A unique feature of our survey is the use of a probabilistic question format, which asks respondents to assess the “percent chance” of a given event happening. For outcomes that can take on a range of values (such as inflation or home prices), this involves asking respondents for their full subjective “density forecast”—that is, the probability they assign to, say, inflation falling into each of a pre-determined set of bins. We then measure uncertainty by the degree of dispersion in each individual’s density forecast. Our earlier work, in line with an extensive literature on the topic, has shown the feasibility and benefits of this format, yielding answers that capture beliefs in a way that is comparable across respondents. With respect to inflation expectations, another important aspect of the SCE is that it was designed to ask respondents their beliefs about the short (one year ahead) and medium (three years ahead) terms, with the latter measure capturing inflation expectations for the twelve-month period starting two years from today.

Over time, the different components of the survey have proven to be highly valuable for monitoring and analyzing a wide range of consumer beliefs and behavior. In this post, we highlight two areas of focus since the onset of the COVID-19 pandemic: expectations regarding inflation and wage growth.

Inflation Expectations

As shown in the chart below, for the first seven years of the SCE we saw little movement in inflation expectations and uncertainty at both the one- and three-year horizons. This all changed during the pandemic. The surge in actual inflation that started in spring 2021 was accompanied by a sharp rise in inflation expectations at the one-year horizon and, to a lesser extent, at the three-year horizon. This divergence between short- and medium-term inflation expectations sparked interest in the movements of longer-term expectations. For this reason, in January 2022 we began asking about inflation expectations at the five-year horizon as well.

Median one-year-ahead inflation expectations reached a high of 6.8 percent in June 2022 and have since been trending downward, while median three-year-ahead inflation expectations showed a more muted increase, peaking at 4.2 percent in October 2021. The fact that three-year-ahead inflation expectations peaked lower and started to drop well before one-year-ahead inflation expectations was a clear indication that consumers anticipated that most of the rise in inflation would not persist. This finding was also reflected in the relative stability of median five-year-ahead inflation expectations and was consistent with experimental evidence collected at various points during 2021 indicating that longer-term inflation expectations remained well anchored during this period, as measured by their sensitivity to shocks in current inflation levels.

While median inflation expectations are now essentially back to their pre-pandemic ranges, inflation uncertainty, which similarly displayed a substantial increase during 2020-21, has been slower to fall back to pre-COVID levels at all three horizons and remains somewhat elevated, with consumers continuing to assign a higher average likelihood to both deflation and to inflation above 4 percent.

2021 Surge in Inflation Sparks Rise in Short-Term Inflation Expectations

Source: New York Fed Survey of Consumer Expectations. Note: The vertical line denotes the start of the pandemic.

Labor Market Expectations

Another component of our core monthly survey is the elicitation of labor market expectations, including expectations about on-the-job earnings growth and the perceived risks of layoff and quitting. Like inflation expectations, earnings growth expectations should affect consumers’ inter-temporal decisions (consuming now versus consuming later, for instance) and are therefore of great value for understanding and forecasting economic behavior.

As shown in the lefthand panel of the chart below, median year-ahead earnings growth expectations were relatively stable at about 2.5 percent until the onset of the pandemic in the spring of 2020, when we saw a temporary drop, followed by a rise to about 3.0 percent by early 2022. When distinguishing respondents by their level of earnings, we observed a higher level and bigger increase in the median expected wage growth for respondents with above-median ($48,000) annual earnings. This contrasts with what actually happened , as earnings growth among workers with below-median annual earnings turned out to be larger between early 2021 and mid-2022. Since mid-2022, median expected earnings growth has been relatively stable at 3.0 percent, with a slight decline to 2.8 percent by the end of 2023. Also shown in the panel are the 25th and 75th percentiles of the distribution of earnings growth expectations across respondents. While the former has remained constant through the entire ten-year period at 1 percent, the latter shows largely parallel movements to those for the median.

The righthand panel in the chart below shows a contrasting pattern for earnings growth uncertainty, which has remained relatively stable over the past ten years, only showing a gradual and persistent increase following the start of the pandemic. Today, wage growth uncertainty remains somewhat above pre-COVID levels. Our analysis shows that this is driven primarily by respondents who are below age 40 and those with an annual household income of less than $50,000.

After an Initial Fall, Earnings Growth Expectations Rise during the Pandemic

Finally, we examine trends in layoff and quit expectations, measured as the average percent chance a respondent assigns to the possibility of being laid off and to the possibility of quitting her or his job voluntarily. Average year-ahead layoff probabilities, shown in the chart below, declined somewhat during the mid-2010s, after which they stabilized in the 13.5-14.5 percent range. As the pandemic hit, average job loss probabilities initially surged to 21 percent, but then fell steadily to levels well below those that prevailed before the pandemic, reaching 10.4 percent in April 2022 and 13.4 percent in December 2023. Average quit probabilities instead dropped sharply at the onset of the recession, then rebounded to levels just below those that prevailed pre-pandemic. A comparison to the timing and magnitude of the jump in actual layoffs spotlights the unexpected nature of the pandemic-induced recession, showing that the surge in layoffs at the beginning of the pandemic was clearly unanticipated. Of similar interest is the relatively modest increase during the 2021-22 period in quit expectations, compared to the much larger “great resignation ” wave recorded in the Job Openings and Labor Turnover Survey by the Bureau of Labor Statistics. This suggests that many quits during this period appear to have been unplanned and spontaneous.

Layoff Expectations Jump with the Onset of the Pandemic, then Steadily Decline

Source: New York Fed Survey of Consumer Expectations. Notes: The vertical line denotes the start of the pandemic. The solid red and blue lines show the three-month moving averages of the two series.

Summing Up

In this post, we analyzed the dynamics of inflation and labor market expectations to illustrate the breadth and depth of information collected in the SCE. Over the past decade, SCE data have yielded insights on a host of other topics, including changes in experiences and expectations regarding credit access , how people find jobs , why workers search for new jobs, expected and actual impacts of stimulus checks on spending, saving and debt paydown during the pandemic , how people view housing as an investment , polarization of beliefs around elections , use of buy-now-pay-later loans , and borrower expectations for the return of student loan repayment . An important aspect of the SCE is that we make our data accessible for free. In addition to informing the public, the media, and policymakers, these data releases have also been cited in more than 170 academic research papers that develop novel insights on a variety of topics. We are looking forward to the next decade of monthly SCE updates and path-breaking analyses.

Olivier Armantier is the head of Consumer Behavior Studies in the Federal Reserve Bank of New York’s Research and Statistics Group.

Gizem Kosar is a research economist in Consumer Behavior Studies in the Federal Reserve Bank of New York’s Research and Statistics Group.

Giorgio Topa is an economic research advisor in Labor and Product Market Studies in the Federal Reserve Bank of New York’s Research and Statistics Group.

Photo: portrait of Wilbert Van der Klaauw

Wilbert van der Klaauw is the economic research advisor for Household and Public Policy Research in the Federal Reserve Bank of New York’s Research and Statistics Group.

How to cite this post: Olivier Armantier, Gizem Koşar, Giorgio Topa, and Wilbert van der Klaauw, “The Survey of Consumer Expectations: A Look Back at the Past Decade,” Federal Reserve Bank of New York Liberty Street Economics , April 16, 2024, https://libertystreeteconomics.newyorkfed.org/2024/04/the-survey-of-consumer-expectations-a-look-back-at-the-past-decade/.

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How Inclusive Brands Fuel Growth

Omar Rodríguez-Vilá,
Dionne Nickerson,
Sundar Bharadwaj

Years before the Barbie movie phenomenon, leaders at Mattel became concerned that consumer perceptions of the famous doll were out of sync with demographic trends. The company conducted in-depth research to understand how customers felt about Barbie and to determine whether more-inclusive versions presented a strong market opportunity. The findings led to a new inclusion strategy that affected all areas of the brand—product design, distribution, and commercial activities—and coincided with a period of significant growth. Barbie revenues increased 63% from 2015 to 2022—before the boost from the film.

Research shows that in most industries the perception of inclusion can materially change customers’ likelihood to purchase and willingness to recommend products and services.

This article presents a framework for increasing marketplace inclusion in three areas: seeing the market, which is about market definition, market intelligence, and strategies for growth; serving the market, which involves developing products, packaging, and other commercial practices; and being in the market, which looks at advocacy and the customer experience.

They unlock new sources of value by meeting the needs of underrecognized customers.

Idea in Brief

The opportunity.

Research shows that the perception of inclusion can materially change customers’ likelihood to purchase and willingness to recommend products and services.

The Problem

Despite the many business and societal benefits of marketplace inclusion, there is a systematic lack of it across industries.

The Approach

Greta Gerwig’s Barbie grossed more than $1 billion at the box office in about two weeks. Only 53 films have ever hit that mark (adjusted for inflation). The 2023 movie, which features themes of women’s empowerment, multiculturalism, and inclusiveness, was a divergence from the narrow social and demographic representation of the original tall, thin, white doll that Mattel introduced in 1959.

OR Omar Rodríguez-Vilá is a professor of marketing practice at the Goizueta Business School at Emory University and the academic director of education at its Business & Society Institute.
DN Dionne Nickerson is an assistant professor of marketing at the Goizueta Business School.
SB Sundar Bharadwaj is the Coca-Cola Company Chair of Marketing at the University of Georgia’s Terry College of Business. LinkedIn: Sundar Bharadwaj

Partner Center

Events showcase IU’s international collaborations in health equity, research and practices

Indiana University’s three decades of leadership in establishing equitable global health partnerships, such as the AMPATH partnership in Kenya, has resulted in improved health and well-being in underserved communities globally thanks to robust collaborations , and through international HIV and malaria research.

A pediatric resident discusses her project work during the 2023 Global Health Scholars Day event in Indianapolis. Photo courtes...

Faculty, medical students and trainees will showcase their work, and faculty will present their research. It’s an opportunity to participate, encourage and network.

The event begins with Department of Medicine Grand Rounds presentation by Dr. Virginia Caine , director of the Marion County Public Health Department in Indianapolis and associate professor of medicine at the IU School of Medicine . She will discuss health equity issues.

“Global Health Scholars Day spotlights the depth and diversity of ways that IU faculty, staff and learners are engaged with partners around the world to improve health and well-being and promote health care equity for people in resource-limited communities,” said Dr. Adrian Gardner , director of the IU Center for Global Health Equity.

The center provides resources and facilitates collaborations for faculty throughout the university engaged in global health work. It is committed to growing the global health impact of IU through research, faculty support, education, care and service programs, and the translation of research into an easily understood format so it can be used by organizations, communities and policymakers.

AMPATH nursing conference

Another example of IU’s international health impact is the first AMPATH Global Nursing Scientific Conference in mid-May in Kenya. It is being coordinated by IU School of Nursing assistant professor Jane von Gaudecker , who is working with colleagues from Kenya and other AMPATH Consortium schools.

“The conference’s purpose is to cultivate a collaborative platform for AMPATH partners from across the globe to share innovative practices and evidence-based strategies to improve patient care outcomes, and collaborate on nursing education and research development,” von Gaudecker said.

Dean Robin Newhouse and students from the IU School of Nursing are scheduled to be there.

Global successes impact Hoosiers

A growing type of collaboration for IU is leveraging its experience in global health to address specific health care challenges in local immigrant and migrant communities in Indiana. In the fall, IU announced a new initiative to improve health in the Hoosier state by applying innovations and expertise built through its decades-long partnership in Kenya to rural and urban communities throughout Indiana.

The initiative is supported by a three-year, $1.5 million grant from the Eli Lilly and Company Foundation to Indiana University, and also involves the IU School of Medicine, Fairbanks School of Public Health and major Indianapolis hospital systems.

The grant — called Applying Global Lessons to Advance Health Equity in Indiana, or APPLE-IN — will help identify community health needs in Indiana and adapt lessons learned from work in Kenya and other parts of the world and improve them to respond to those needs. This process of “reciprocal innovation” is an area where IU provides leadership domestically and internationally.

Health commitment goes beyond medicine

IU’s commitment to new and expanding endeavors involves the collaborative efforts of faculty who share information and develop strategies to promote and grow the university’s future as an academic leader in global health.

For example, faculty members from the IU School of Public Health-Bloomington, Fairbanks School of Public Health in Indianapolis, Kelley School of Business, School of Nursing, School of Dentistry, Office of the Vice President for International Affairs and School of Medicine joined the Center for Global Health Equity for a fall retreat . Faculty members provided specifics about their initiatives in service, training and research, as well as potential opportunities to collaborate to grow new and existing partnerships.

Faculty members interested in global health can become affiliated faculty members and join the effort to align talent and resources to achieve the center’s mission of improving health globally and preparing the next generation of global health leaders.

Kirk Johannesen

Debbie ungar, filed under:, more stories.

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How Libraries Help Job Seekers Get Hired

The current state of the U.S. workforce is marked by a significant worker shortage . Despite there being 8.9 million open jobs, only 6.5 million unemployed workers are available to fill them. This gap between job openings and available workers persists across various industries and states. Pandemic-induced early retirements, childcare constraints, and financial support during the crisis have left the nation with a deficit of workers . In addition, the pandemic has accelerated automation, requiring many workers to adapt. More displaced workers will need different skills to remain employed.

Public libraries can play a crucial role in supporting workforce development by offering free job and career services. These include upskilling programs, résumé development, computer access, interview preparation, workshops and seminars. Libraries looking to augment their collections to address the needs of today’s job seekers and career changers should consider the following five activities:

1. Exploring New Career Options and Entrepreneurship

The economic turmoil created by COVID-19 led some workers to reassess their careers . Using resources such as Job & Career Accelerator , patrons can research growth industries, take skills and interests assessments to find ideal career paths, and explore more than 1,000 occupations ― including civilian jobs for those transitioning out of the military. They can also conduct real-time searches in a database of more than five million job postings.

Some patrons might consider pursuing a skilled trade given today’s skilled trade workforce shortage. BlueCareer is a workforce development platform that serves as a one-stop show for patrons to explore skilled trade industries, start their careers, connect with employers and more. Users can take personality and experience assessments to see which trade profession might be a good fit. They can also access up-to-date pay and career growth data and explore trade schools.

Other patrons might wish to explore the possibility of starting a small business, one that fills a need created by our post-pandemic world. EBSCO’s Entrepreneurial Mindset Training Course enables prospective entrepreneurs to learn the underlying beliefs and behaviors that empower ordinary people to achieve extraordinary things. The eight-module, self-paced course can help them develop the mindset they need to succeed in today’s rapidly changing world ― whether that means starting a business, pursuing a new career or becoming a better employee.

2. Boosting Job Skills

It’s never too late to develop new knowledge and skills. In doing so, individuals can make themselves stand out in the vast sea of job candidates. Encourage job seekers to brush up on their computer, internet and social media skills. LearningExpress Computer Skills Center offers dozens of video courses for those interested in learning popular software applications, such as Microsoft Excel and Adobe Photoshop. LearningExpress Library Complete also offers Amazon Web Services (AWS) training courses in a wide array of leading-edge technology topics. LearningExpress Library Complete also offers tutorials and practice sets to help job seekers build their math, writing and grammar skills. They’ll also find tutorials, e-books and practice tests to help them prepare for the GED® test, college admissions exams and occupational certification tests. They’ll even find a keyboarding tutorial to help them brush up on their typing skills. For those interested in pursuing a skilled trade, BlueCareer offers a variety of video and virtual training opportunities.

3. Creating a Stand-Out Resume and Cover Letter

To secure an interview, job seekers must create a resume and cover letter that will stand out among the competition. Not only should candidates be sure to format these documents properly, but they should also use dynamic and engaging keywords relevant to the position they’re seeking. Job & Career Accelerator ’s step-by-step resume and cover letter builders help job seekers create and publish the most effective resumes and cover letters possible. As they build these documents, users will find expert advice, easy-to-follow instructions, recommended keywords, and helpful samples to guide them through each step of the process.

4. Getting Comfortable with Virtual Job Interviews

The pandemic has led many employers to conduct initial interviews virtually. According to Forbes Contributor Joseph Liu , “You have to be able to bring the same level of enthusiasm, professionalism, and communication that you would to an in-person interview.” Remind job seekers to test out their videoconferencing software in advance of the scheduled interview. In

addition, Job & Career Accelerator offers an “Interview with Confidence” tutorial which walks job seekers through the stages of the interview process and provides strategies to help them prepare.

5. Networking

According to 2018 research, the average job search takes about five months . In some industries, it could take longer, so job seekers need to expand their professional networks. Job & Career Accelerator offers a number of e-books with networking advice, “Networking and Informational Sample Letters,” “Social Networking for Business Success” and “Social Networking for Career Success.” In addition, users will find a helpful tutorial called, “Social Networking with Facebook, Twitter and LinkedIn.”

Ready to enhance your library’s services to job seekers?

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Using resources such as Job & Career Accelerator, patrons can research growth industries, take skills and interests assessments to find ideal career paths, and explore more than 1,000 occupations ― including civilian jobs for those transitioning out of the military. They can also conduct real-time searches in a database of more than five ...
Why AMD, Applied Materials, and Lam Research Stocks All Tumbled Today
The story is similar for Lam Research, where China sales slid from 31.4% of revenue to 25.6%, and (to a lesser extent) Applied Materials -- from 28.1% to 27.3%.

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