Why is Consumer Research important?
Due to COVID-19, there has never been a more important time to understand how consumer behavior and sentiment is shifting.
Due to COVID-19, there has never been a more important time to understand how consumer behavior and sentiment is shifting.
Short- & long-term decisions
Measuring current sentiments and behavioral changes can help you navigate the current market climate.
Don’t expect it to pass
Brands should understand if and how behaviors and sentiments are shifting over this time in order to adapt and respond, rather than waiting for the crisis to pass.
Some habits formed will last
Consumer behaviors are changing at an unprecedented rate and for many, these are likely to stay in place long after it’s over.
Understanding delivers solutions
It’s vital you’re able to understand what’s happening, so you can quickly respond to changes to come out stronger.
Consumers happy to give feedback
86% of consumers in the U.S. and 87% in the U.K. feel it’s appropriate for companies to conduct research currently.*
*Source: https://www.qualtrics.com/blog/market-research-during-coronavirus/
We do this using qualitative and quantitative research, both of which facilitate informed decisions.
Quantitative research identifies trends, behaviors, patterns in a statistically robust fashion. Qualitative research is more exploratory, identifies underlying motivations and provides depth and color.
Methods:
Market research compliments and adds the ‘why’ and ‘how’ behind trends identified in other data as well as allowing us to ask about future behavior.