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2020 Top 50 U.S. Market Research and Data Analytics Companies

Diane Bowers

A full ranking of the top market research and data analytics companies in the U.S. for 2020

The “2020 Top 50 U.S. Report”—formerly known as “The Gold Report”—is developed by Diane Bowers and produced in partnership with the Insights Association and Michigan State University . The report is also sponsored by the AMA, ESOMAR and the Global Research Business Network . The report includes a ranking of the top 50 companies, a breakdown of trends by Bowers , and an analysis of the market research and analytics industry  by Michael Brereton, Melanie Courtright and Reg Baker.

50. RTi Research

Founded: 1979 2019 U.S. revenue: $12.9 million Percent change from 2018: -3% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $12.9 million U.S. employees: 45

In a world awash in data, the challenge is to turn data into something meaningful, something that can be communicated simply and acted upon effectively. RTi Research meets that challenge head-on, turning data into meaning through smart research design, flawless execution and innovative storytelling. Everything the company does is aimed at helping its clients move their ideas and insights through their organizations to influence change. 

RTi has conducted research in just about every category in the U.S. and globally. Informed by 40 years of experience across categories and cultures, RTi knows what works and what doesn’t, when to leverage new technology and methods, and when traditional approaches are best.

49. Hypothesis

Founded: 2000 2019 U.S. revenue: $18.3 million Percent change from 2018: -4.7% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $18.3 million U.S. employees: 61

Hypothesis uses insights, strategy and design to help important brands do amazing things. The company specializes in tough questions that take creative, multidimensional approaches, thoughtful strategy and a broad business perspective. Hypothesis’ approach combines inventive consumer-centric qualitative research, advanced analytics, strategic thinking and data visualization. Its award-winning design team translates complex information into compelling, easy-to-understand deliverables to socialize learnings and engage teams. 

In 2018, Hypothesis added important new capabilities with the launch of Momentum, a strategy that turns insight into application with downstream marketing and implementation planning. The Momentum team has worked alongside Hypothesis consultants on strategic engagements with clients focused on brand strategy, product development, and led dozens of workshops with senior and C-level executives to socialize insights and ideate on next steps. 

In 2019, Hypothesis’ focus on growth continued with its expansion to the Midwest and establishment of its Chicago office. From this office, the company will be able to service new and current clients in the Midwest and on the East Coast.

48. Bellomy Research

Founded: 1976 2019 U.S. revenue: $21 million Percent change from 2018: 1.4% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $21 million U.S. employees: 116

Bellomy is a privately held, family-owned, full-service market intelligence company. Bellomy focuses on driving successful business outcomes through the design and delivery of solutions that yield deeper customer understanding. The company surrounds its clients’ business challenges with an unparalleled mix of knowledge and experience, marketing science and proprietary research technology. 

Bellomy’s work involves both B2C and B2B environments—with qualitative and quantitative insight solutions spanning market segmentation, customer experience and journeys (including digital user experiences), brand equity, product innovation, shopper insights, marketing optimization, social research platforms and research technology. Bellomy works with clients across a broad range of categories and industries including consumer packaged goods, financial services, automotive, retail, restaurant and hospitality, telecommunications and technology, apparel and textiles, utilities, healthcare, insurance and home improvement.

Bellomy serves as an extension of its clients’ marketing research and customer experience departments by integrating a broad set of capabilities and areas of expertise, including segmentation, customer (and digital experience), shopper insights, social research platforms, brand equity, product innovation and marketing optimization. In addition, Bellomy clients leverage SmartIDEAS, the firm’s enterprise consumer knowledge and insight platform. 

47. Edelman Intelligence

Founded: 1999 2019 U.S. revenue: $21 million Percent change from 2018: 12.9% 2019 non-U.S. revenue: $11.5 million Percent from outside U.S.: 35.4% 2019 worldwide revenue: $32.5 million U.S. employees: 131

Edelman Intelligence (EI) is the global research and analytics consultancy of Edelman, the world’s largest global communications firm. Based in New York, with employees in 18 offices internationally, EI houses more than 200 consultants, strategists, researchers, data scientists, data visualization specialists and analysts worldwide. Its specialists are method-agnostic and leverage the best of primary and secondary research, advanced analytics and business science to solve business and communications issues for its clients. EI’s offering spans the full spectrum of client needs, from mapping the current environment and targeting key audiences, to optimizing content and measuring business impact. 

EI partners with early-stage start-ups and Fortune 100 companies alike, providing strategic research, analytics, and insights-based marketing and communications counsel for a broad range of stakeholders and scopes, including government and public affairs, corporate reputation and risk strategy, crisis and issues management, employee experience and talent advisory, executive positioning, strategic communications and public relations, marketing and branding strategy, customer experience and insights, mergers, acquisitions and market entry strategy and more.

Key accomplishments in 2019 included advancement of its Edelman Trust Management (ETM) capabilities, including an evolution of its offering focused specifically on providing guidance for measuring and building trust in brands. Developed building from its 20-plus years studying trust through the Edelman Trust Barometer and the initial iteration of ETM (which explores corporate trust), this proprietary model for brand trust measurement was created in partnership with renowned academics from Harvard Business School and INSEAD, Edelman Brand experts and external marketing thought leaders. In recent months, this model has been engineered to consider fundamental transformations to consumer/brand relationship dynamics that the COVID-19 pandemic has accelerated.

46. KS&R

Founded: 1983 2019 U.S. revenue: $21.7 million Percent change from 2018: -1.4% 2019 non-U.S. revenue: $3.6 million Percent from outside U.S.: 14.2% 2019 worldwide revenue: $25.3 million U.S. employees: 100

KS&R is a privately held strategic consultancy and full-service marketing research company. For nine consecutive years, KS&R has received the highest Gold Index composite score of any provider in the Prevision/Inside Research survey of marketing research buyers. This is a testament to the company’s passion for excellence and client-first business philosophy—wherein KS&R empowers its clients with timely, fact-based insights so they can make smarter decisions and be confident in their actions.

KS&R creates and executes global custom market research solutions for some of the best-known corporations in the world in more than 100 countries and 50 languages. It has extensive and diverse industry experience with particular strength in healthcare (pharma and device), technology, entercom, transportation, professional services, and retail and e-commerce. Team members often include business strategists with client-side experience and deep industry knowledge.

In 2019, KS&R leveraged its expansive network of pharmacy panels to build world-class capabilities for pharma inventory measurement and healthcare insights. Its marketing scientists have driven marked advances in pricing decision support, which have now been validated by positive in-market results. KS&R expanded its portfolio to include insights fusion across multiple channels of content (primary research, social media, web-based information, etc.). And finally, it introduced its KS&R Win-Loss program that provides actionable insights for how organizations can improve their value proposition and sales performance to close more deals.

Founded: 1911 2019 U.S. revenue: $22.7 million Percent change from 2018: 12.9% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $22.7 million U.S. employees: 78

NAXION guides strategic business decisions globally in healthcare, information technology, financial services, energy, heavy equipment and other B2B markets, drawing on depth of marketing experience in key verticals and skilled application of sophisticated and inventive methodologies. The firm’s NAscence Group helps life science innovators develop commercialization strategy through clinical trials design and selection of target indications, forecasting, brand planning and other research-based consulting services.

Engagements routinely include market segmentation, opportunity assessment and innovation, demand forecasting and pricing, positioning, brand health, market monitoring and lifecycle management. The firm deploys multiple data streams including primary research (qualitative and quantitative), secondary data, customer databases and other complex datasets to develop an integrative perspective on business problems. The firm also builds custom panels for B2B markets.

Project leaders with sector experience and research proficiency are supported by in-house methodologists and a wide portfolio of advanced analytic tools, including proprietary modeling services and software, all of them highly customized. The firm continues to invest significant resources in intellectual capital to enhance enterprise decision support with cutting-edge methods, including specialized “small data” choice models, new predictive techniques using big data and brand-customized text analytics. Its Farsight suite supports the building of highly dynamic models capable of producing forecasts for complex market scenarios, including paradigm-shift technologies, and gives market monitoring programs a forward-looking perspective that guides timely market interventions. Other services include litigation and regulatory support, often involving expert testimony in cases involving trademark confusion, deceptive advertising and brand equity. NAXION’s strong commitment to operational excellence is reflected in ISO certification and in-house operations capabilities to deliver exceptional levels of quality control. 

Founded: 1991 2019 U.S. revenue: $24.2 million Percent change from 2018: -3.6% 2019 non-U.S. revenue: $1.2 million Percent from outside U.S.: 4.7% 2019 worldwide revenue: $25.4 million U.S. employees: 144

Gongos is a consultative agency that places customers at the heart of business strategy. Partnering with insights, analytics, marketing, strategy and customer experience groups, Gongos operationalizes customer centricity by helping companies both understand their customer needs and deliver on them better than anyone else.

From product innovation to portfolio management, customer experience to consumer journeys, pricing strategies to marketing optimization, and trend analysis to predictive modeling, Gongos provides both outside-in and inside-out approaches across organizations to drive greater customer attraction, retention and lifetime value.

Gongos further serves as a translator to help cross-functional teams fuel the competency to gain and apply consumer wisdom, transform decisions into action and navigate organizational change. Coalescing enterprise data with primary research and curating insights for multiple audiences further empowers stakeholders to achieve greater ROI by ensuring information is designed to influence actions and behaviors from executives to the frontline. 

Gongos’ consultative tools stem from change management principles that help organizations navigate the transformation often necessary to create a more outside-in perspective as they reorient around the customer. Gongos’ approaches to engage multiple audiences include communication strategies and tactics grounded in frameworks such as its adoption-to-advocacy model and human-centered design.

43. Maru/Matchbox **

Founded: 2016 2019 U.S. revenue: $28 million Percent change from 2018: 3.7% 2019 non-U.S. revenue: $14 million Percent from outside U.S.: 33.3% 2019 worldwide revenue: $42 million U.S. employees: 150

Maru/Matchbox began disrupting the market research industry in 2000. Powered by proprietary technology, its expert teams are deeply invested in key sectors of the economy, including consumer goods and services, financial services, retail, technology, healthcare, public services, and media and entertainment. Maru/Marchbox provides organizations with the tools and insights to connect with the people that matter most, so they can build and maintain a competitive advantage. 

In 2019, Maru/Matchbox released a series of innovative research solutions. 

• Digital Media Measurement is a campaign evaluation approach that enables clients to better understand how content, channels and brands interact to deliver effective communication. 
• Creative Insight measures people’s implicit and explicit responses to advertising, giving clients a complete picture of how their ad is working. It is designed to evaluate any type of ad or brand communication, across all channels, with best-in-class benchmarks.
• Lissted analyzes how members of communities relevant to clients react to content, tweets and even websites. 
• Brand Emotion utilizes visual semiotics to identify and leverage the emotional profile of a brand. 

Maru/Matchbox continues to demonstrate innovation and thought leadership through relentless publication of articles and whitepapers.

42. Chadwick Martin Bailey (CMB)

Founded: 1984 2019 U.S. revenue: $28.7 million Percent change from 2018: 20.6% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $28.7 million U.S. employees: 90

CMB is a research and strategy firm, helping the world’s leading brands engage, innovate and grow amid deep disruption. The company leverages the best of advanced analytics, consumer psychology and market strategy to tackle critical business initiatives, including market identification, segmentation, brand health, loyalty and advocacy, and product and service development.

For more than 35 years, CMB has helped the most successful brands and their executives give voice to their market through a relentless business decision focus, creative problem-solving and storytelling, deeply consultative approach and flawless execution. With dedicated financial services, media and entertainment, tech and telecom, retail and healthcare practices, CMB’s expert teams understand the complex and evolving technological, social, cultural and economic forces that drive disruption and create opportunity.

In 2020, CMB continued its growth trajectory, including building expertise in gaming and digital platforms and expanding its qualitative and advanced analytics teams. A thought leader in the application of consumer psychology to real world business issues, CMB conducted self-funded research among tens of thousands of consumers to capture the four core benefits that motivate decision-making—identity, emotion, social and functional—providing an in-depth look at more than 80 global brands. Further self-funded research explored the accelerating journey and path to purchase of today’s gamers.

41. Screen Engine/ASI

Founded: 2010 2019 U.S. revenue: $33 million Percent change from 2018: 10% 2019 non-U.S. revenue: $1.9 million Percent from outside U.S.: 5.4% 2019 worldwide revenue: $34.9 million U.S. employees: 132

Screen Engine/ASI is a research-based consumer insights firm that stands for delivering its entertainment and media clients actionable insights and recommendations, not simply data. SE/ASI strives to help clients mitigate risk and maximize the potential for success. Through its Motion Picture and TV Groups, SE/ASI works across all distribution platforms for both domestic and internationally produced content. 

The company is centered on assessing the “abilities” of content as it migrates from the earliest stages of development through multi-channel distribution. The Motion Picture Group is the leader in traditional and digital in theater and online recruited audience screenings. Offerings also include PostTrak, a syndicated domestic and international in-theater exit poll, and ScreenExperts, an early assessment of critical response, creative ad testing, positioning and brand studies, custom work, and location-based and online focus group research. A cross-platform team within this group works with home entertainment, over-the-top and gaming clients. 

The TV group is the leader in location-based ViewTrac dial testing of pilots, programs and ongoing series and conducts online dial testing as well. Other offerings include location-based and online focus groups, promo testing, positioning and brand studies, and a variety of custom studies including custom trackers. SE/ASI syndicates Tracktion trackers including a TV tracker, a theatrical movie tracker, a home entertainment tracker and a premium video-on-demand tracker. All groups work in the company’s media lab equipped for biometric and new technology research. When appropriate, SE/ASI engages in advanced analytics techniques including, but not limited to, segmentation, conjoint, maxdiff and TURF analysis. 

40. MarketVision Research

Founded: 1983 2019 U.S. revenue: $33.2 million Percent change from 2018: 2.5% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $33.2 million U.S. employees: 140

MarketVision Research is a full-service marketing research firm, providing clients with actionable insights about their markets, customers, brands and products. Research areas of focus include product and portfolio development, pricing, branding, segmentation and customer experience. The company offers a full suite of quantitative and qualitative research capabilities and works across industry groups. These include:

• Optimization and discrete choice modeling as it applies to product and service development, branding, packaging and pricing.
• Online communities that are managed and developed entirely in-house with a focus on improving participant engagement and with additional support for mobile participation.
• Hybrid research, which uses 20 in-house moderators, along with marketing science professionals and global project managers, to facilitate qualitative and quantitative research seamlessly.

39. The Link Group

Founded: 1994 2019 U.S. revenue: $34.2 million Percent change from 2018: 23.9% 2019 non-U.S. revenue: $0.3 million Percent from outside U.S.: 0.9% 2019 worldwide revenue: $34.5 million U.S. employees: 85

The Link Group executes research for Fortune 500 firms in the healthcare, retail, CPG and finance industries across both qualitative and quantitative methodologies and around the globe. TLG attributes its success to its core business philosophy: smarter research and better service. Its commitment to smarter research has allowed the company to take a creative, custom approach to its clients’ business needs that results in actionable and insightful reports. TLG delivers better service by maintaining a consistent research team across projects, allowing the team to anticipate and respond to client needs. This business philosophy has resulted in 99% of revenue coming from repeat clients.

This past year, TLG has continued to hone its research approaches to help elevate traditional research methods. For its messaging and positioning work, TLG developed a framework that triangulates quantitative survey data to determine how well messaging concepts will activate, communicate and engage the customer. In its segmentation studies, TLG blends science and art to create models that align with the client’s brand strategic vision by creating differences that are meaningful and actionable from a marketing perspective. TLG has leveraged its knowledge of behavioral economics to develop a validated, proprietary quantitative methodology—LinkEQ—that allows the company to reveal latent emotional associations.

Founded: 1983 2019 U.S. revenue: $34.3 million Percent change from 2018: -1.2% 2019 non-U.S. revenue: $1.2 million Percent from outside U.S.: 3.4% 2019 worldwide revenue: $35.5 million U.S. employees: 233

SSRS is a full-service market and survey research firm led by a core of dedicated professionals with advanced degrees in the social sciences. 

SSRS surveys support numerous media and academic partners looking to report on public attitudes and beliefs about a wide range of salient issues such as elections and public policy. SSRS is the polling partner for CNN, and conducts public opinion polling for ABC News, The Washington Post, Politico and CBS News. 

Beyond national polls, SSRS regularly conducts research at a state level, and among subpopulations such as Latinos and political partisans, and specializes in reaching hard-to-reach and low-incidence populations. SSRS has extensive experience in public policy, public affairs and health policy research. Since the Affordable Care Act was signed into law, SSRS has completed numerous studies surrounding its implementation and assessing Americans’ attitudes and experiences with the law. 

Since 2016, SSRS conducts the monthly Kaiser Family Foundation Health Tracking Poll. SSRS is well-known for its weekly telephone Omnibus poll. The firm also offers the SSRS Opinion Panel, which allows clients to conduct probabilistic surveys quickly at low cost. The SSRS/Luker on Trends Sports Poll is the first and longest-running tracking study focusing on sports in the U.S. 

37. BVA Group **

Founded: 1970 2019 U.S. revenue: $36 million Percent change from 2018: 2.6% 2019 non-U.S. revenue: $147 million Percent from outside U.S.: 80.3% 2019 worldwide revenue: $183 million U.S. employees: 120

BVA Group is a fast-growing research and consulting firm, an expert in behavioral science, ranked in the top 20 worldwide agencies. BVA brings data to life and converts deep understanding of customers and citizens into behavior change strategies. BVA operates both for public and private clients with methodologies fueled by data science and behavioral science. 

Its FMCG specialist—PRS IN VIVO—is a global leader in packaging and shopper research. PRS IN VIVO helps consumer marketers to succeed through: 

• In-store and online studies to better understand shopper behavior, in both physical and e-commerce shopping contexts.
• Qualitative studies to develop, screen and refine new product, packaging and merchandising concepts.
• Quantitative studies to pre-test and quantify new packaging, merchandising and display systems (for physical stores and e-commerce).
• Volume forecasting and product testing for both innovations and brand restages.
• “Nudge” initiatives to facilitate behavioral change, create new consumer habits and drive category growth. 

BVA Group is a European leader in customer experience research. More than 100 leading brands use BVA’s behavioral insights to provide seamless shopper journeys and design successful new products and services, including solutions from its multi-awarded Global Nudge-Unit.

36. radius | illumination

Founded: 1960 2019 U.S. revenue: $42 million Percent change from 2018: — 2019 non-U.S. revenue: $1 million Percent from outside U.S.: 2.3% 2019 worldwide revenue: $43 million U.S. employees: 127

Radius│illumination is the product of a merger between Radius Global Market Research and Illumination Research in 2018. Together, it’s one of the largest independent custom insights providers in the world. Its focus is on guiding brands at critical points along their growth journey, tackling issues such as identifying compelling innovations, creating relevant customer segmentations and developing strategies for deeper loyalty and engagement.

Radius | illumination partners with Fortune 500 leaders as well as challenger, disruptor and emerging brands in the U.S., Europe, Asia and the Middle East. Its top sectors include financial services, personal care, healthcare and pharmaceuticals, technology, home improvement and durables, media and entertainment, packaged foods, beverage, retail and transportation.

Its 2020 initiatives to fuel brand growth for its clients include:

• Provide agile and robust solutions such as InnovationSprint to accelerate new product and service development.
• Increase its information design capabilities so clients can easily take action on the results.
• Focus on driving deeper insights by combining its advanced analytics strength with immersive customer understanding in its designs.
• Expand solutions through the integration of new technologies and behavioral approaches.

35. Market Force **

Founded: 2005 2019 U.S. revenue: $50 million Percent change from 2018: 2% 2019 non-U.S. revenue: $7 million Percent from outside U.S.: 12.3% 2019 worldwide revenue: $57 million U.S. employees: 375

Market Force Information provides location-level customer experience management solutions to protect clients’ brand reputation, delight their customers and make them more money. 

Market Force operates at scale across the globe. Each month, the company:

• Completes more than 100,000 mystery shops.
• Collects, processes and analyzes millions of employee and customer experience surveys.
• Manages more than 100,000 inbound calls to its contact center.
• Hosts more than 1 million user logins on its KnowledgeForce reporting platform.

Market Force’s multi-location solutions provide a robust framework for measuring and improving operational excellence, customer experience and financial KPIs. Measurement channels include mystery shopping, customer experience surveys, contact center calls, social media and employee engagement surveys via the KnowledgeForce technology platform and Eyes:On mobile app. Market Force employs predictive analytics to determine what matters most and the ROI for investing in improvements. The firm takes a dual-headed approach to market research services (e.g., customer segmentation, attitude trial and usage studies and custom research projects) and strategic advisory services to design and implement effective measurement systems and improve performance.

Founded: 1991 2019 U.S. revenue: $52 million Percent change from 2018: 4% 2019 non-U.S. revenue: $6 million Percent from outside U.S.: 10.3% 2019 worldwide revenue: $58 million U.S. employees: 400

As a leading customer experience management firm, SMG helps clients get smarter about their customers and employees to drive changes that boost customer loyalty and improve business performance. SMG combines technology and services to collect, analyze and share feedback and behavioral data, so it’s easier for clients to deliver and activate customer insights across their enterprise.

SMG partners with more than 350 brands around the globe to create better customer and employee experiences, which drive loyalty and performance. SMG uniquely combines technology and insights to help clients listen better, act faster and outperform competitors. SMG is a technology-enabled research firm with a global footprint—evaluating more than 150 million surveys annually, in 50 languages across 125 countries. 

Strategic solutions include omniCXTM, Brand Research and Employee Engagement. SMG’s omniCX solution uses multiple research methodologies in capturing solicited and unsolicited consumer feedback across in-store, online, contact center and social channels. Results are aggregated and reported via smg360TM—a real-time, role-based reporting platform providing access to all customer and related data. 

SMG’s research professionals partner with clients to derive business-changing insights. Within Brand Research, SMG offers traditional brand tracking as well as access to dynamic customer and competitor data through market intelligence tool BrandGeek. Fueled by SurveyMini—SMG’s location-based mobile research app—BrandGeek contains consumer feedback and behavioral data relating to more than 4,500 brands across more than 500,000 locations.

33. Hanover Research

Founded: 2003 2019 U.S. revenue: $52.7 million Percent change from 2018: 14.1% 2019 non-U.S. revenue: $2.6 million Percent from outside U.S.: 4.7% 2019 worldwide revenue: $55.3 million U.S. employees: 358

Hanover Research is a brain trust designed to level the information playing field. Hanover is made up of hundreds of researchers who support thousands of organizational decisions every year. One of the industry’s fastest-growing companies, Hanover attributes this market success to its unique positioning as the only firm that provides tailored research through an annual, fixed-fee model. 

Hanover serves more than 1,000 organizations and companies worldwide from established global organizations, to emerging companies to educational institutions. Hanover’s research informs decisions at any level and across any department capitalizing on the exposure to myriad industries and challenges. 

Founded in 2003, Hanover operates on an annual fixed-fee model, and partnership provides its clients with access to a team of high-caliber researchers, survey experts, analysts and statisticians with diverse skills in market research, information services and analytics. There is no limit on the type of challenge that can be asked for on the quantitative and qualitative approaches Hanover uses to deliver solutions—most of which are very difficult to replicate internally.

Hanover’s custom research services include:

• Secondary research: market segmentation and evaluation; labor and demographic trends and forecasts; vendor and product reviews; best practices reports. 
• Survey: survey design, administration and analysis; open-ended response coding. 
• Qualitative primary research: focus group design and administration; in-depth interview design, outreach, administration and analysis. 
• Data analysis: data segmentation and mining; conjoint analysis; linear regression; descriptive and predictive analytics; data forecasting and modeling. 

32. Directions Research

Founded: 1988 2019 U.S. revenue: $54.2 million Percent change from 2018: 17.8% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $54.2 million U.S. employees: 181

Independently recognized as one of the leading business decision insight firms in the nation, Directions Research combines a highly experienced staff with a unique mix of innovative and proven approaches to answer pressing business issues. Directions and SEEK routinely combine primary and connected data from multiple sources to create holistic and actionable analytic stories for their clients. Through digital dashboards, infographics, written reports and other unique visualizations, the firm communicates its knowledge in a manner that is right for today’s leaders. 

Directions and SEEK excel in innovation, optimization, customer and brand experience, brand strategy, strategic business intelligence and visualization across a wide range of industries. The firm offers B2C and B2B services globally, surveying audiences using a broad selection of data collection techniques and combining those insights with existing client knowledge. Directions’ and SEEK’s staff have an excellent mix of client- and supplier-side experience. The organization allows senior researchers to work with clients on a day-to-day basis.

SEEK (acquired in 2018) is a qualitative insight and innovation consultancy, operating as an independent but connected division of Directions. SEEK empathically connects brands with the humans they serve, transforming the brand-to-consumer relationship into a human-to-human one. The SEEK approach builds brand advocacy for clients with the human-centric approach to innovation, activating empathy as an innate problem-solving capability.

31. Fors Marsh Group (FMG) *

Founded: 2002 2019 U.S. revenue: $57.5 million Percent change from 2018: 22.1% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $57.5 million U.S. employees: 263

FMG applies behavioral and data science to improve organizational processes, business solutions and customer experiences. This work is conducted within seven core U.S. markets: health, defense, technology, finance, homeland security, policy and consumer. 

FMG’s work for its clients wins industry and federal awards. FMG has been named as a top market research company by GreenBook and the American Advertising Federation and has been named to the American Marketing Association’s list of top market research companies in the U.S. for five consecutive years. FMG was also a finalist for the American Council for Technology and Industry Advisory Council’s Igniting Innovation 2018 award for creating an innovative e-learning program that improved program awareness and usability for the General Services Administration’s Center for Acquisition Professional Excellence. 

For 2019 and beyond, FMG is focused on continuing this momentum and expanding in important areas. In its human capital practice, FMG is furthering its work in the cybersecurity industry to help the Department of Defense attract top cyber talent and to protect the nation’s infrastructure. FMG is also expanding its efforts in public service recruiting through new partnerships with the U.S. Army, U.S. National Guard and AmeriCorps. The company is proud that its partnership with these institutions will help shape the future of the U.S. For its health division, FMG is leveraging its deep experience in health communications to fight the opioid crisis by reducing stigma and removing barriers that victims face in receiving help—potentially one of the biggest challenges facing America today. 

30. National Research Group (NRG) **

Founded: 1978 2019 U.S. revenue: $59 million Percent change from 2018: 1.7% 2019 non-U.S. revenue: $4 million Percent from outside U.S.: 6.3% 2019 worldwide revenue: $63 million U.S. employees: 200

National Research Group, acquired by Stagwell Media from Nielsen in 2015, is a leading global insights and strategy firm at the intersection of entertainment and technology. Rooted in four decades of industry expertise, the world’s leading marketers turn to NRG for insights into growth and strategy for any content, anywhere, on any device. Working at the confluence of content, culture and technology, NRG offers bold insights for storytellers everywhere. 

Some agencies specialize in qual, others focus on quant—but NRG connects the two disciplines with hybrid teams expert in both modalities. The company is a one-stop, custom consultancy that tailors its approach to solve clients’ biggest challenges. 

The foundation of NRG’s qualitative work is a team of passionate, subject matter experts who connect deeply with consumers in any environment. NRG uses qual to discover the subconscious drivers that fuel our quantitative truths. Its quantitative work is anchored in sophisticated techniques with a focus on agility, creativity and rigor. NRG is method-agnostic and works collaboratively with its clients to solve complex problems in a simple way.

29. Cello Health * **

Founded: 2004 2019 U.S. revenue: $64.5 million Percent change from 2018: 23.3% 2019 non-U.S. revenue: $58.5 million Percent from outside U.S.: 47.6% 2019 worldwide revenue: $123 million U.S. employees: 260

Cello Health consists of four global capabilities that enable the company to offer best-in-class services and an integrated partnership approach to its clients. This unique mix of capabilities, combined with its collaborative approach, results in a unique fusion of expertise, providing powerful advisory and implementation solutions.

• Cello Health Insight is a global marketing research company, providing business intelligence to the healthcare and pharmaceutical sectors. Cello Health Insight specializes in getting to the heart of its clients’ questions, using a large pool of creative and academic resources and providing design of materials and deliverables through a hand-picked project team—selected to best meet the needs of each individual project.
• Cello Health Consulting is the strategic consulting arm of Cello Health, focused on delivering business results by unlocking the potential within organizations, people, assets and brands. Cello Health Consulting works alongside clients to create practical solutions that ensure buy-in and build relationships. 
• Cello Health Communications combines science, strategy and creativity to unlock the potential of brands and assets. Its services underpin differentiated positioning and deliver brand optimization, focusing on multiple areas of development and launch, through commercial maturity.
• Cello Signal is a full-service digital capability bringing impactful messages alive in communications campaigns, content and film.

28. Macromill Group **

Founded: 2000 2019 U.S. revenue: $68.5 million Percent change from 2018: 2.2% 2019 non-U.S. revenue: $260 million Percent from outside U.S.: 79.1% 2019 worldwide revenue: $328.5 million U.S. employees: 275

Macromill Group is a rapidly growing global market research and digital marketing solutions provider bringing together the collective power of its specialist companies to provide innovative data and insights that drive clients’ smarter decisions. Macromill’s industry-leading digital research solutions deliver rapid and cost-effective solutions to the challenges businesses face today. 

The group’s leading business units are Macromill and MetrixLab. Macromill stands at the forefront of innovation, delivering unique marketing solutions. It offers exclusive access to the highest-quality online panels with more than 2 million members. Using its self-developed platform AIRs, Macromill provides full-service online research including automated survey creation and completion, data tabulation and analysis. Today, its business portfolio includes services such as offline quantitative research, mobile research, point-of-service database research (QPR), digital marketing (Accessmill), a DIY survey platform (Questant) and more. 

Metrixlab turns data from online surveys, social media, mobile devices and enterprise systems into valuable business information and actionable consumer insights. This helps leading companies drive product innovation, brand engagement and customer value. Owned and group panels provide expansive access to global respondents in mature and emerging markets. Its teams deliver strategic and tactical decision support by pushing the boundaries of data analysis innovation, combining cutting-edge technology with data science and proven marketing research methodologies. Clients across the globe rely on the company’s hyper-efficient data and insights ecosystem to deliver fast and affordable results.

27. C Space **

Founded: 1999 2019 U.S. revenue: $70 million Percent change from 2018: 2.9% 2019 non-U.S. revenue: $18 million Percent from outside U.S.: 20.5% 2019 worldwide revenue: $88 million U.S. employees: 354

C Space, part of the Interbrand Group, is a global customer agency that marries art and science to create rapid customer insight and business change. 

C Space works with some of the world’s best-known brands—such as Walmart, Samsung, IKEA and more—to build customers into the ways companies work and deliver on customer-inspired growth. By building real, ongoing relationships with customers—online and in-person—brands can stay relevant, deliver superior experiences, launch successful products and build loyalty. Through its “customer as a service” approach of research, consulting and communications, C Space helps businesses minimize risk and maximize growth.

The company integrates customers into the ways its clients work. By bringing stakeholders together around the customer, C Space’s clients create greater clarity and alignment in the actions that will most effectively drive customer growth.

C Space’s customized programs are tailored based on specific business needs and include private online communities, immersive storytelling, data and analytics, activation events, innovation projects and business consulting. C Space continues to invest in its people, existing capabilities like data and analytics, as well as new initiatives.

26. Engine Insights**

Founded: 2004 2019 U.S. revenue: $71 million Percent change from 2018: 4.4% 2019 non-U.S. revenue: $44 million Percent from outside U.S.: 38.3% 2019 worldwide revenue: $115 million U.S. employees: 240

Engine is a new kind of data-driven marketing solutions company. Powered by data, driven by results and guided by people, Engine helps its clients make connections that count—leading to bottom-line growth, an inspired workplace and business transformation. 

Engine Insights (formerly ORC International) connects traditional market research with cutting-edge products to deliver clients a 360-degree view of their customers, employees and markets. Engine’s extended suite of solutions and products are designed to support business growth, from helping clients understand and outperform the competition to operationalizing both survey and behavioral data to identify, attract, engage and retain their audiences.

Engine Insights’ client services and products include custom research and omnibus surveys; customer experience, customer retention and brand engagement studies; and data management and data analytics. 

These services help clients:

• Think beyond products and services to drive business revenue.
• Use insights to inform more relevant messaging and creative.
• Get a complete 360-degree view of their customers.
• Segment audiences for better targeting.
• Develop the perfect product and take it to market.
• Create unique experiences that engage their customers and keep them loyal for a lifetime.
• Build an internal culture that attracts, retains and engages the best talent.

Founded: 1931 2019 U.S. revenue: $71.1 million Percent change from 2018: 9% 2019 non-U.S. revenue: $6.9 million Percent from outside U.S.: 8.8% 2019 worldwide revenue: $78 million U.S. employees: 253

Since 1931, Burke has consistently redefined expectations in the marketing research industry. From segmentation to customer engagement programs, product innovation and brand tracking, Burke prides itself on designing and executing objectives-driven quantitative and qualitative research. Working across a variety of industries, Burke helps its clients gain actionable perspective on their most critical business challenges, providing a range of solutions from agile to integrated strategic decision support.

Today, Burke continues to push the boundaries of what marketing research can be, seamlessly uniting research, strategy and education. Backed by Seed Strategy—its strategic consulting subsidiary—Burke has the capabilities to support its clients throughout every phase of the product or service life cycle, with expertise in strategy, innovation, branding and marketing. In addition, Burke provides comprehensive training on research fundamentals and best practices through the Burke Institute—its dedicated education division and the industry’s leader in research and insights training. Wherever its clients find themselves on the path to success, Burke is uniquely equipped to help them move forward with clarity, confidence and purpose.

Continuing its long tradition of research innovation, Burke recently unveiled two new offerings: Geode|AI, an integrated insights system that analyzes multiple data sources to uncover patterns, relationships and critical insights that are often hidden; and Quantiment, a robust machine-learning solution that jointly extracts richer insights from structured and unstructured data.

24. YouGov *

Founded: 2000 2019 U.S. revenue: $76.8 million Percent change from 2018: 11.8% 2019 non-U.S. revenue: $107.5 million Percent from outside U.S.: 58.3% 2019 worldwide revenue: $184.3 million U.S. employees: 212

YouGov is a global provider of analysis and data generated by consumer panels in 42 markets. Its core offering of opinion data is derived from the proprietary YouGov Global Panel of more than 9 million people. The YouGov Global Panel provides the company with thousands of data points on consumer attitudes, opinions and behavior. YouGov captures these streams of data in the YouGov Cube, its unique connected data library that holds more than 10 years of historic single-source data. In 2019, YouGov panelists completed more than 25 million surveys.

YouGov’s data-led offering supports and improves a wide spectrum of marketing activities of a customer base, including media owners, brands and media agencies. YouGov works with some of the world’s most recognized brands.

Its syndicated data products include the daily brand perception tracker, YouGov BrandIndex and the media planning and segmentation tool YouGov Profiles. Its market-leading YouGov RealTime service provides a fast and cost-effective solution for reaching nationally representative and specialist samples. YouGov’s Custom Research division offers a wide range of quantitative and qualitative research, tailored by sector specialist teams to meet users’ specific requirements. YouGov data is delivered through Crunch, the most advanced analytics tool for research data, combining fast processing with drag-and-drop simplicity. YouGov has a strong record for data accuracy and innovation. 

23. Phoenix Marketing International

Founded: 1999 2019 U.S. revenue: $77 million Percent change from 2018: -3.8% 2019 non-U.S. revenue: $4.5 million Percent from outside U.S.: 5.5% 2019 worldwide revenue: $81.5 million U.S. employees: 343

Global advertising and brand specialist Phoenix Marketing International operates in all major industries, utilizing modern technology, innovative research techniques and customized approaches to help clients elevate their brand, refine their communications and optimize their customer experience. 

With the launch of Phoenix’s AdPi Brand Effect Platform, clients now have access to continuous advertising measurement and performance improvement insights through a single platform, providing the ability to analyze their campaigns at any stage in the advertising life cycle, and the flexibility to draw upon each piece as needed. Through more than 20 years of experience and testing thousands of ads per month, Phoenix developed 19 category-specific ad measurement models that uncover the drivers and creative attributes that explain the “whys” behind an ad’s creative performance, with forward-looking estimates for ad memorability and brand linkage.

Phoenix continues to evolve its CX solution, launching Competitive Customer Experience, a measurement of how consumers perceive their overall experience with a brand, including key touchpoints along the journey. Grounding recent experiences with a client’s brand, competitor brands and non-categorical benchmarking, Phoenix is able to evaluate brand opinion, understand what drives great CX outside of the category, focus on emotional drivers of brand CX, and provide an external view of culture, consistency and brand promises.

22. Concentrix **

Founded: 1983 2019 U.S. revenue: $95 million Percent change from 2018: 11.8% 2019 non-U.S. revenue: $130 million Percent from outside U.S.: 57.8% 2019 worldwide revenue: $225 million U.S. employees: 253

Concentrix is a wholly owned subsidiary of SYNNEX Corp., specializing in technology-enabled customer engagement and improving business performance for clients around the world. With more than 225,000 staff in more than 40 countries, Concentrix provides services to clients in 10 industry verticals: automotive, banking and financial services, insurance, healthcare, technology, consumer electronics, media and communications, retail and e-commerce, travel and transportation, energy and the public sector. 

The Concentrix Voice of the Customer solution combines technology with experience management services provided by its in-house team of hundreds of CX professionals. 

Powered by analytic tools and artificial intelligence, its customer feedback platform ConcentrixCX helps companies listen, analyze and act on omnichannel customer feedback at any point in the customer journey, at scale. Features include data capture and integration, real-time reporting and analytics, and coaching and employee engagement tools. Concentrix continues to invest in enhanced platform functionality—for example, multi-source data expansion of its proprietary text analytics engine, including structured and unstructured customer feedback sources such as surveys, social, messaging, complaints and email. New digital data collection capabilities include a conversational feedback bot and embedded micro-journey surveys. 

Concentrix experience management services range from program management to strategic advisory services and are custom tailored to free clients’ internal teams to focus on transformational impact. Its CX experts specialize in quantitative and qualitative techniques, delivering data-driven insights through solutions such as survey design, relational loyalty research, CX journey analytics, digital channel optimization, customer segmentation, customer effort assessment and integrated CX analytics.

21. Escalent

Founded: 1975 2019 U.S. revenue: $97.1 million Percent change from 2018: -3.4% 2019 non-U.S. revenue: $5.5 million Percent from outside U.S.: 5.4% 2019 worldwide revenue: $102.6 million U.S. employees: 352

Escalent is a human behavior and analytics firm specializing in industries facing disruption. The company transforms data and insights into an understanding of what drives human behavior, and it helps businesses turn those drivers into actions that build brands, enhance customer experiences and inspire product innovation. 

Escalent specializes in automotive and mobility, consumer and retail, energy, financial services, health, technology and telecommunications. Focusing on select industries allows Escalent to function as a trusted business partner who knows the challenges its clients face and understands how to engage their most valuable audiences. 

Escalent has three centers of excellence: Qualitative Research combines emerging technologies, anthropology and ethnography to tap into human insights that reveal real needs and potential; Marketing & Data Sciences combine survey, behavioral, transactional and third-party data to solve tough research challenges; and Insight Communities provides private, online platforms for brands to engage with groups of stakeholders to quickly and easily draw insights.

20. dunnhumby **

Founded: 2001 2019 U.S. revenue: $100 million Percent change from 2018: -3.8% 2019 non-U.S. revenue: $335 million Percent from outside U.S.: 77% 2019 worldwide revenue: $435 million U.S. employees: 230

Dunnhumby is a customer science company that analyzes data and applies insights for almost 1 billion shoppers across the globe to create personalized customer experiences in digital, mobile and retail environments. Its strategic process, proprietary insights and multichannel media capabilities build loyalty with customers to drive competitive advantage and sustained growth for clients. Dunnhumby uses data and science to understand customers, then applies that insight to create personalized experiences that build lasting emotional connections with retailers and brands. It’s a strategy that demonstrates when companies know and treat their customers better than the competition, they earn more than their loyalty—they earn a competitive advantage.

Dunnhumby was established in the U.S. to help retailers and manufacturers put the customer at the heart of their business decisions. Analyzing data from millions of customers across the country, dunnhumby enables clients to use this insight to deliver a better shopping experiences and more relevant marketing to their customers.

By putting best customers at the center of every decision, dunnhumby’s approach delivers measurable value, competitive edge and even more customer data to fuel ongoing optimization, setting clients up for long-term success.

Dunnhumby serves a prestigious list of retailers and manufacturers in grocery, consumer goods, health, beauty, personal care, food service, apparel and advertising, among others. Clients include Tesco, Procter & Gamble, Coca-Cola, Macy’s and PepsiCo.

19. Informa Financial Intelligence**

Founded: 2016 2019 U.S. revenue: $107 million Percent change from 2018: 1.9% 2019 non-U.S. revenue: $36 million Percent from outside U.S.: 25.2% 2019 worldwide revenue: $143 million U.S. employees: 500

Informa Financial Intelligence is a leading provider of business intelligence, market research and expert analysis to the financial industry. The world’s top global financial institutions and banks look to Informa Financial Intelligence for its authority, precision and forward-focused analysis. 

Informa Financial Intelligence consists of key research, analysis and industry experts, such as Informa Research Services, EPFR Global, Informa Global Markets, iMoneyNet, Informa Investment Solutions, eBenchmarkers and Mapa Research.

Informa Financial Intelligence provides fund and wealth managers, traders, insurers, analysts, and investment and retail bankers with the intelligent advantage to make informed decisions, understand past trends, forecast future performance, drive profitability and increase returns.

Because of their strong background in the financial industry, the research teams of Informa Financial Intelligence are highly qualified to help financial institutions with their market research needs. Informa’s researchers are experts in benchmarking studies, competitive intelligence, new product development and usability testing, customer and member satisfaction and loyalty research, brand and advertising awareness research, and mystery shopping services for sales and service quality evaluation, legal and match pair testing, compliance, discrimination and misleading sales practices testing. Informa is considered a leader in the use of market research to limit the risk associated with allegations of discrimination, UDAAP (unfair, deceptive, or abusive acts or practices), predatory lending and misleading sales practices.

18. NRC Health

Founded: 1991 2019 U.S. revenue: $113 million Percent change from 2018: 10.8% 2019 non-U.S. revenue: $3.6 million Percent from outside U.S.: 3.1% 2019 worldwide revenue: $128 million U.S. employees: 448

NRC Health (formerly National Research Corp.) has helped healthcare organizations illuminate and improve the moments that matter to patients, residents, physicians, nurses and staff for more than 38 years. The company offers performance measurement and improvement services to hospitals, healthcare systems, physicians, health plans, senior care organizations, home health agencies and other healthcare organizations. 

NRC Health solutions help organizations stay at the forefront of healthcare by understanding the totality of healthcare consumer and staff experiences. Primary solutions include: 

• Experience solutions capture personal experiences, while delivering insights to power a new benchmark: n=1. Developing a longitudinal profile of customers’ healthcare wants and needs allows for organizational improvement, increased provider and staff engagement, loyal relationships and personal well-being. 
• The Loyalty Index, composed of seven aspects that combine to provide a 360-degree view of healthcare consumer loyalty—a single, trackable metric to identify emerging trends in consumer behavior and benchmark against peers. 
• Market Insights is a large U.S. consumer database that gives partners access to the opinions of 310,000 healthcare consumers in 300 markets, and access to resources to better understand target audiences and gauge consumer response to communications.
• The Transparency solution calculates star ratings from existing patient, resident and family survey data, and publishes those ratings to organizations’ websites. 
• The Governance Institute supports the efforts of healthcare boards across the nation—to lead stronger organizations and build healthier communities. NRC Health partners with organizations to improve governance efficiency and effective decision-making by providing trusted, independent information, tools and resources to board members, executives and physician leaders. 

17. MaritzCX **

Founded: 1973 2019 U.S. revenue: $118 million Percent change from 2018: — 2019 non-U.S. revenue: $44 million Percent from outside U.S.: 27.2% 2019 worldwide revenue: $162 million U.S. employees: 600

MaritzCX is a software and research company that focuses on customer experience management for big business. The company offers a unique combination of award-winning CX software, industry-leading data and research science, deep vertical market expertise and managed program services. MaritzCX provides a full-service professional CX approach designed to continuously improve the customer experience across an enterprise’s customers, employees, prospects and partners. 

MaritzCX’s research insights include its leading CXStandards competitive benchmarking research that delivers quarterly benchmarks for 55 CX categories across 16 industries. Its CXEvolution study of more than 10,000 practitioners’ feedback informed large enterprises of their CX gaps. 

The company’s focus is to leverage the MaritzCX platform, its industry-leading studies and research services to drive more meaningful experiences between its clients and their customers by adding product and research services and continued thought leadership in the CX market. In addition, MaritzCX has received CMS-certification for HCAHPS surveys, becoming the industry’s first CX platform company to offer an inclusive CX-based patient experience platform.

MaritzCX specializes in solutions for key industries, including automotive, financial services, retail, technology, B2B and more. Its global reach includes more than 900 full-time employees and 800-plus part-time or contract employees in 19 offices around the world. MaritzCX provides solutions to more than 500 clients and 1.6 million users who speak 72 languages in 100 countries. MaritzCX is committed to being its clients’ customer experience research partners.

In March 2020, InMoment acquired MaritzCX.

16. DRG (Decision Resources Group) **

Founded: 1990 2019 U.S. revenue: $140 million Percent change from 2018: 2.2% 2019 non-U.S. revenue: $53 million Percent from outside U.S.: 27.5% 2019 worldwide revenue: $193 million U.S. employees: 399

DRG, the Health Science & Analytics Division of Piramal Enterprises, is a global information and technology services company that provides proprietary data and solutions to the healthcare industry. DRG has brought together best-in-class companies to provide end-to-end solutions to complex challenges in healthcare. DRG reframes these challenges, enabling its customers to see the opportunities. Pharmaceutical, biotechnology, medical technology and managed care companies rely on this analysis and data to make informed decisions critical to their success.

Framing the current status and future trends in target healthcare markets using data, primary research and secondary research is a core competency of DRG. Product offerings include high‐value analytics, syndicated research, proprietary databases, decision support tools and advisory services.

DRG has a number of key specialties, including syndicated research focused on new therapeutic opportunities; portfolio planning, changing industry dynamics and global treatment patterns; insights and data on physician and consumer healthcare e‐marketing; and proprietary databases and analytics covering more than 90% of the U.S. managed care markets. 

15. Wood Mackenzie **

Founded: 1973 2019 U.S. revenue: $150 million Percent change from 2018: 3.4% 2019 non-U.S. revenue: $335 million Percent from outside U.S.: 69.1% 2019 worldwide revenue: $485 million U.S. employees: 337

Wood Mackenzie, a Verisk business, is a leading research and consultancy business for the global energy, chemicals, metals and mining industries. Wood Mackenzie launched in 1923 as a small, relatively unknown, Edinburgh, Scotland-based stockbroker. By the 1970s, it had become one of the top three stockbrokers in the UK, renowned for the quality of its equity research. 

Its success has always been underpinned by the clear and simple principle of providing trusted research and advice that would make a difference to clients. This was true when the first oil report was published by its equity analysts in 1973 and remains just as relevant to it today. So much so that, over the past four decades, Wood Mackenzie has drawn upon its heritage to create a global research and consultancy business that has grown alongside the needs of its clients. 

Having cultivated deep expertise in upstream oil and gas, Wood Mackenzie has carefully broadened its focus to deliver the same level of detailed insight for every interconnected sector of the energy, chemicals, metals and mining industries it now serves around the world. But heritage is more than just history. Its expert analysts and consultants have connected the company to some of the most significant events of our time—creating insight for governments, boards and CEOs who have helped shape the future direction of the world’s natural resources industries and their impact on society. 

14. Material *

Founded: 1973 2019 U.S. revenue: $166.7 million Percent change from 2018: 0.3% 2019 non-U.S. revenue: $57.9 million Percent from outside U.S.: 25.8% 2019 worldwide revenue: $224.6 million U.S. employees: 1,038

In 2019, Material (under the name LRW Group) acquired five companies: Killer Visual Strategies, an award-winning visual communication agency based in Seattle; Greenberg Strategy, a Bay Area research and strategy consultancy with a strong presence in the tech community; Karma Agency, a strategic communications firm based in Philadelphia; Salt Branding, a Bay Area consultancy; and T3, an Austin, Texas-based digital marketing agency. This year, Material is taking steps to unify these companies under one brand, integrating their services and building a collaboration that will provide seamless, end-to-end marketing solutions for clients. This year, LRW Group rebranded as Material, formally integrating 10 companies into one modern, unified offering.

Material is a radical collaboration of the top research and analytics firms seamlessly paired with the most creative and strategic marketing agencies, all with the shared mission of igniting growth for the world’s top B2B and B2C brands, from Fortune 500 companies to disruptive start-ups. Material offers a full range of marketing services—from data analytics and insights, to consulting and strategy development, to customer experience programs and creative executions. Material employs a roster of 1,200 strategists, creators, technologists, designers, researchers and storytellers that work side-by-side with clients to solve modern-day problems, build customer loyalty and make an impact on the world around us.

Founded: 1969 2019 U.S. revenue: $173.7 million Percent change from 2018: 0.5% 2019 non-U.S. revenue: $52.6 million Percent from outside U.S.: 23.2% 2019 worldwide revenue: $226.3 million U.S. employees: 5,311

ICF is a global consulting services provider with more than 7,000 professionals focused on making big things possible for its commercial and government clients in the U.S., Europe and Asia. 

Clients work with ICF on issues that matter profoundly to their success, whether it’s a product or program that matters to the business or a social issue or policy that matters to the world. ICF offers comprehensive survey research services that empower clients to gain valuable and actionable insights on issues that matter. 

For more than 40 years, ICF has demonstrated design, methodological and statistical knowledge through the implementation of large and complex survey research projects. Its clients consist of U.S. federal, state and local agencies, universities, nonprofits and commercial organizations. 

Its survey research services include: 

• Analyzing, reporting and presenting findings.
• Conducting surveys through a variety of data collection methods. 
• Designing samples, data collection protocols and instruments.
• Protecting all processes and data through quality assurance and system security.

ICF recently completed the installation of a state-of-the-art, fully integrated and security-enhanced data collection system, allowing the company to securely and most efficiently collect survey research data across all modes. ICF continues to be dedicated to solving the world’s most complex challenges and tackle problems with ingenuity on issues that matter profoundly to its clients.

12. J.D. Power **

Founded: 1968 2019 U.S. revenue: $217 million Percent change from 2018: 3.3% 2019 non-U.S. revenue: $113 million Percent from outside U.S.: 34.2% 2019 worldwide revenue: $330 million U.S. employees: 744

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. Those capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. J.D. Power offers market research, forecasting, consulting, training and consumer surveys of product and service quality, customer satisfaction and buyer behavior. The company’s independent industry benchmark studies, innovative data and analytics products, and customized advisory services provide insights and help companies improve quality, engagement and business performance.

Annual syndicated studies are based on survey responses from millions of consumers and business customers worldwide. The firm does not review, judge or test products and services for its syndicated studies. It relies on the opinions and perspectives of consumers who have used the products and services being rated. 

J.D. Power is most often recognized for its work in the automotive industry, where its metrics have become the industry standard for measuring product quality and customer satisfaction. A team of associates worldwide conducts quality and customer satisfaction research across industries including automotive, financial services, insurance, telecommunications, travel, healthcare utilities and consumer electronics. 

11. Forrester Research Services **

Founded: 1983 2019 U.S. revenue: $233.7 million Percent change from 2018: 32.9% 2019 non-U.S. revenue: $65 million Percent from outside U.S.: 21.8% 2019 worldwide revenue: $298.7 million U.S. employees: 525

Forrester Research Services is the research component of Forrester, one of the most influential research and advisory firms in the world. Forrester works with business and technology leaders to develop customer-obsessed strategies that drive growth. Its unique insights are grounded in annual surveys of more than 675,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of its most innovative clients. 

Forrester’s research offerings consist of a library of cross-linked documents that interconnect its playbooks, reports, data, product rankings, best practices, evaluation tools and research archives. Research access is provided through role-based websites that facilitate client access to research and tools that are most relevant to their professional roles, including community tools that allow interaction between and among clients and analysts.

Forrester’s research and decision tools enable clients to better anticipate and capitalize on the disruptive forces affecting their businesses and organizations, providing insights and frameworks to drive growth in a complex and dynamic market. 

Founded: 1934 2019 U.S. revenue: $320 million Percent change from 2018: 3.2% 2019 non-U.S. revenue: $1,280 million Percent from outside U.S.: 80% 2019 worldwide revenue: $1,600 million U.S. employees: 860

GfK connects data and science. Innovative research solutions provide answers for key business questions around consumers, markets, brands and media—now and in the future. As a research and analytics partner, GfK promises its clients all over the world “Growth from knowledge.” 

The increasing speed of product innovation, the rise of new channels and emerging customer needs are all part of business today. GfK’s clients are businesses around the globe. To make the best possible business decisions every day, they need more than purely descriptive data—they require actionable recommendations based on advanced analytics and powered by leading-edge technology. GfK is in the unique position to leverage proprietary and third-party data to create indispensable predictive market and consumer insights and recommendations.

GfK’s industry focus provides its market researchers with a thorough understanding of business issues and questions specific to their concerns. Industries covered include automotive, consumer goods, fashion and lifestyle, media and entertainment, retail, technology, and travel and hospitality.

9. comScore * **

Founded: 1999 2019 U.S. revenue: $336.1 million Percent change from 2018: -6.5% 2019 non-U.S. revenue: $52.5 million Percent from outside U.S.: 13.5% 2019 worldwide revenue: $388.6 million U.S. employees: 870

ComScore is a global information and analytics company that measures advertising, content and the consumer audiences of each across media platforms. ComScore creates its products using a global data platform that combines information on digital platforms (smartphones, tablets and computers), television and movie screens with demographics and other descriptive information. 

ComScore has developed proprietary data science that enables measurement of person-level and household-level audiences, removing duplicated viewing across devices and over time. This combination of data and methods enables a common standard for buyers and sellers to transact on advertising. This helps companies across the media ecosystem better understand and monetize their audiences and develop marketing plans and products to more efficiently and effectively reach those audiences. ComScore’s ability to unify behavioral and other descriptive data enables it to provide audience ratings, advertising verification and granular consumer segments that describe hundreds of millions of consumers. 

ComScore offers several solutions to help advertisers maximize cross-platform marketing effectiveness—be it measuring brand impact, viewability or ad and audience delivery validation—as well as power cross-platform advertising for better targeting and stronger advertising ROI. ComScore Advanced Audience segments go beyond age and gender to help advertisers better target consumers based on lifestyles, behaviors, demographics and interests. ComScore pioneered this concept in digital, local and national TV. 

8. The NPD Group

Founded: 1966 2019 U.S. revenue: $339.5 million Percent change from 2018: 8.6% 2019 non-U.S. revenue: $104.5 million Percent from outside U.S.: 23.5% 2019 worldwide revenue: $444 million U.S. employees: 1,185

NPD’s global information and advisory services help the world’s leading brands achieve data-driven growth. NPD combines data, industry expertise and prescriptive analytics across more than 20 industries to help its clients measure markets, predict trends and improve performance.

NPD syndicated services include retail tracking, distributor tracking and consumer tracking. NPD offers weekly data, store-level enabled data for looking at geographies or custom store groupings and account-level information for participating retailers. Point-of-sale data is collected from more than 600,000 doors worldwide, plus e-commerce and mobile platforms. Consumer information is collected via online surveys and NPD’s Checkout service, which uses receipt harvesting to track and analyze purchasing and behavior. Prescriptive analytics include market forecasting, new product forecasting, pricing and promotion evaluation and segmentation. 

With deep expertise in more than 20 industries, NPD provides thought leadership to the C-suites of many of the world’s leading brands. Senior industry advisors are available for strategy sessions to guide long-range planning or address specific needs, such as preparing for earnings calls. Topics include industry and category performance, the state of retail and winning strategies of best-in-class companies.

7. Westat **

Founded: 1963 2019 U.S. revenue: $590 million Percent change from 2018: 3.5% 2019 non-U.S. revenue: $7 million Percent from outside U.S.: 1.2% 2019 worldwide revenue: $597 million U.S. employees: 1,900

Westat is a 100% employee-owned research and professional services company. Westat provides extensive survey design and operations capabilities in support of modern data collection from households, institutions, businesses and individuals. Westat applies multiple modes of data collection and survey management to achieve maximum response rates.

The company’s focus areas and capabilities include: 

• Statistical analysis and methodological research in survey design, experiments and testing, data science and analytics, statistical disclosure control and qualitative research.
• Program, process and outcome evaluation using diverse methodologies from design to implementation to guide each program to success.
• Health research, including behavioral and mental health, clinical studies and clinical trials, public and international health, healthcare delivery, patient safety and health communications campaigns.
• Social policy research and technical assistance for implementing innovative evaluation, quality improvement and service delivery systems.
• Education programs for supporting teachers, conducting evaluations and providing technical assistance.
• Transportation studies of travel behaviors, safety and human factors using advanced technologies such as instrumented vehicles and simulators, field observational studies, and online and mobile device-based surveys.

To support its research projects, Westat designs tailor-made approaches for clients as well as invests in many general and specialized IT technologies and products. Westat also provides licensing, training and support for Blaise, a major data collection software system produced by Statistics Netherlands and used internationally. 

Founded: 1975 2019 U.S. revenue: $682 million Percent change from 2018: 16.2% 2019 non-U.S. revenue: $1,685 million Percent from outside U.S.: 71.2% 2019 worldwide revenue: $2,367 million U.S. employees: 2,025

Ipsos, through its subsidiaries, engages in collecting, processing and delivering survey data for brands, companies and institutions primarily in Europe, the Middle East, Africa, the Americas and Asia Pacific. It explores market potential and market trends, tests products and advertising, helps clients build long-term relationships with customers, studies audiences and their perceptions of various media and measures public opinion trends. Ipsos offers advertising research services, including advertising tracking and brand equity evaluation services that help advertisers in the development, evaluation and improvement of their advertising efforts.

It also provides marketing research services that help clients to identify business opportunities and innovation platforms, develop strategies at point of sale, generate insights and ideas, develop and optimize their mix, and model and forecast sales volumes, as well as offers custom innovative products and solutions to address stakeholder experience and brand-building business goals.

In this unique year, Ipsos has remained strong and reaffirmed its ambition and sense of purpose to deliver reliable information for a true understanding of society, markets and people. Ipsos activates this vision for more than 5,000 customers through its presence in 90 markets both globally and locally. Ipsos covers the whole information production and analysis chain, from the collection of raw data to the activation of the insights. It has a solid tradition of innovation expressed by new methodological developments and continuously renewed product range.

5. Information Resources, Inc. (IRI) **

Founded: 1979 2019 U.S. revenue: $815 million Percent change from 2018: 1.9% 2019 non-U.S. revenue: $510 million Percent from outside U.S.: 38.5% 2019 worldwide revenue: $1,325 million U.S. employees: 3,639

IRI is a leading provider of big data, predictive analytics and forward-looking insights that help consumer packaged goods, over-the-counter healthcare organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events—a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation—is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quest to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth.

In 2019, IRI announced the integration of artificial intelligence and machine learning into its leading suite of analytics solutions, retained 100% of its major CPG clients and welcomed new strategic partnerships with top retailers in the U.S. IRI added several innovators to its leadership team while continuing to invest in its employees by providing ongoing training. 

4. Kantar **

Founded: 1993 2019 U.S. revenue: $950 million Percent change from 2018: 2.7% 2019 non-U.S. revenue: $2,900 million Percent from outside U.S.: 75.3% 2019 worldwide revenue: $3,850 million U.S. employees: 3,585

Kantar is one of the world’s largest data, insights and consulting companies, bringing together some of the world’s leading research, data and insights expertise. Kantar’s offer covers the breadth of techniques and technologies, from purchase and media data to predicting long-term trends; from neuroscience to exit polls; from large-scale quantitative studies to qualitative research, incorporating ethnography and semiotics. 

In April 2019, all services and offerings of the various Kantar companies were combined under the Kantar brand name. This operational change enables Kantar to build platforms and offers on a global scale and to remove barriers to collaboration and co-creation within the organization to better meet clients’ needs. 

As part of this branding strategy, Kantar launched several initiatives:

• Kantar Marketplace, a global on-demand research and insights store.
• Kantar’s new Brand Guidance System that intelligently integrates validated survey measures with social, search, sales media and behavioral data to provide actionable insights to optimize brand or campaign performance.
• Integration of big data, artificial intelligence and analytical capabilities from across the company into one resource that unlocks deeper insights to fuel growth.

3. Gartner Research **

Founded: 1972 2019 U.S. revenue: $1,800 million Percent change from 2018: 4.7% 2019 non-U.S. revenue: $1,474.5 million Percent from outside U.S.: 45% 2019 worldwide revenue: $3,274.5 million U.S. employees: 4,500

Gartner Research delivers independent, objective advice to leaders across an enterprise through subscription services that include on-demand access to published research content, data and benchmarks, and direct access to a network of approximately 2,300 research experts located around the globe. Gartner Research is the fundamental building block for all Gartner products and services. It combines its proprietary research methodologies with extensive industry and academic relationships to create Gartner products and services that address each role across an enterprise. Gartner’s research agenda is defined by clients’ needs, focusing on the critical issues, opportunities and challenges they face every day. Its proprietary research content, presented in the form of reports, briefings, updates and related tools, is delivered directly to the client’s desktop via its website or product-specific portals.

Within the research segment, Global Technology Sales sells products and services to users and providers of technology, while Global Business Sales sells products and services to all other functional leaders, such as supply chain, marketing, human resources, finance, legal and sales. 

2. IQVIA * **

Founded: 2016 2019 U.S. revenue: $2,220 million Percent change from 2018: 8.6% 2019 non-U.S. revenue: $2,166 million Percent from outside U.S.: 49.4% 2019 worldwide revenue: $4,386 million U.S. employees: 6,000

IQVIA is a global provider of information, innovative technology solutions and contract research services focused on helping healthcare clients find better solutions for patients. Formed through the 2016 merger of Quintiles and IMS Health, IQVIA applies human data science—leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science—to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation and accelerate improvements in healthcare outcomes. 

IQVIA has three operating segments: Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Powered by the IQVIA CORE, IQVIA delivers unique and actionable insights at the intersection of large-scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities to help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.

IQVIA has one of the largest and most comprehensive collections of healthcare information in the world, which includes more than 800 million comprehensive, longitudinal, non-identified patient records spanning sales, prescription and promotional data, medical claims, electronic medical records, genomics and social media. Its scaled and growing information set contains more than 35 petabytes of proprietary data sourced from more than 150,000 data suppliers and covering more than 1 million data feeds globally. Based on this data, IQVIA delivers information and insights on more than 85% of the world’s pharmaceuticals, helping its clients run their organizations more efficiently and make better decisions to improve their clinical, commercial and financial performance. 

1. Nielsen **

Founded: 1923 2019 U.S. revenue: $3,875 million Percent change from 2018: 1.6% 2019 non-U.S. revenue: $2,623 million Percent from outside U.S.: 40.4% 2019 worldwide revenue: $6,498 million U.S. employees: 10,300

Nielsen is a global measurement and data analytics company that provides a complete and trusted view of consumers and markets worldwide. Nielsen is divided into two business units: Nielsen Global Media and Nielsen Global Connect. 

Nielsen Global Media provides media and advertising clients with unbiased and reliable metrics that create the shared understanding of the industry required for markets to function, enabling its clients to grow and succeed across the $600 billion global advertising market. Nielsen Global Media helps clients define exactly who they want to reach and optimize the outcomes they can achieve. The company’s cross-platform measurement strategy brings together the best of TV and digital measurement to ensure a more functional marketplace for the industry.

Nielsen Global Connect provides consumer packaged goods manufacturers and retailers with accurate, actionable information and a complete picture of the complex and changing marketplace that brands need to innovate and grow their businesses. Nielsen Global Connect provides data and builds tools that use predictive models to turn observations in the marketplace into business decisions and winning solutions. The business’ data and insights, combined with its open, cloud-native measurement and analytics platform that democratizes the power of data, continue to provide an essential foundation that makes markets possible in the rapidly evolving world of commerce. With Nielsen Global Connect’s set of guiding truths, businesses have the tools to create new opportunities.

* ‘% change’ calculation reflects adjustment of previously reported 2018 U.S. research revenue due to acquisition or divestiture activity or other business change during 2019.

** Some or all figures are not made available by this company so instead are based on research and estimation by the report author.

Diane Bowers is a consultant to research and data analytics businesses and industry associations in the U.S. and internationally. She previously served as the president of CASRO, board chair of the Global Research Business Network, a board member of the Americas Research Industry Alliance and a board member of The Roper Center for Public Opinion Research at Cornell University. She is also a past president of the Market Research Council and the Research Industry Coalition, and a long-time member of American Association for Public Opinion Research, AMA and ESOMAR.

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Circana provides a complete understanding of everything purchased and consumed at home and away from home. .

Join more than 7,000 of the world’s leading brands and retailers

We measure and accelerate demand .

Circana combines unmatched measurement capabilities with deep expertise, so you can look to us as advisors. We guide you to the answers and insights that help you accelerate demand, unlocking new growth for your business. Here are some of our recent insights:

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What makes circana different.

We have the most complete view.

We start with the most complete data, add cross-industry insights, and deliver it all through the lens of our deep category expertise. When our clients see the complete consumer, the complete store, and the complete wallet, they gain a full understanding that leads to confident action.

We have unparalleled technology. 

Our Liquid Data® platform makes it easy to work with cross-industry data and advanced analytics. Seeing all the angles helps our clients find new opportunities and spark growth. 

We have deep industry expertise.

Our industry experts are strategic partners who really understand each client’s business. That allows us to push beyond insights into ideas that ignite new thinking and lead to better outcomes.

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What we needed was the ability to measure the Covid response, and Circana’s Monthly Sensitivities gave us the real time view of the consumer response, allowing us to time align to actions over time.

We chose Circana for this effort because we have a great existing relationship with them, and the Monthly Sensitivities blends well with what already have in place.

Rich Seifrid Manager, Advanced Analytics, Conagra

Circana worked with us throughout the process to make sure that they had the problem definition correct, went back and forth with that to make sure that everything was lined up, and then once we did get the results, they were gracious to set up a full walkthrough with me and then also did it with my team later so that we were able to answer any questions.

Scott Dunkley Merchandising Center of Excellence Hershey

As we launched Gulp Media Network, it was a natural fit to lean on the expertise, deep knowledge, and capabilities of our business that Circana brings to build audiences and analyze the efficacy of media campaigns for Gulp Media Network.

Ben Tienor Director, Gulp Media Network, 7-Eleven

The Circana team is part of our team. We work arm in arm to help bring more value to our advertisers. They’ve been with us every step of the way, and our Media and Sales Performance Dashboard is just one example of how we bring that to life.

Soyeong Park Head of Measurement Insights & Data Strategy Sam’s Club MAP (Member Access Platform)

Through a combination of Circana’s retail point-of-sale and Checkout data assets, we can better understand consumer shopping behaviors and key market trends. We will continue to leverage Circana’s data to help validate our strategies, as we bring new and exciting products and experiences to athletes across the country.

Sara Bondi Vice President Strategy Dick’s Sporting Goods

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Liquid Data Go offers 15% more market measurement coverage than our closest competitor, giving you a complete picture of sales and share tracking. Featuring intuitive reporting, visualizations, and essential insights, Liquid Data Go is powered by our top-tier business intelligence and visualization solution, Unify+™. Quickly understand the impact of key sales, distribution, pricing, promotion, and consumer measures across channels and retailers.

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Market research for the retail industry, continuous innovation.

The retail landscape has never been more challenging. Between high shopper expectations, changing safety concerns, out-of-stock issues and online competition, retailers are always looking for ways to stand out.

Retailers are tasked with continually innovating to make both their in-store and online shopping experiences distinctive, memorable, and easy enough to keep customers coming back.

retail challenges we address:

• how can we effectively increase shopping trips and basket size?
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• how can we differentiate our brick-and-mortar experience from others?
• how can we enhance the shopping experience?
• how can we maximize category sales?
• what can we do to boost the share of our private label?
• how can we leverage signage, product placement, and displays to boost sales?
• who are our best customers and how do we find more of them?

comprehensive, custom research

The fact is the answers to these questions change based on current events and trends. And when the ground is constantly shifting, it can be difficult to know which moves will actually make a measurable difference. That’s where a reliable and experienced retail market research company comes in.

C+R Research offers comprehensive and totally custom research solutions to fit your  specific needs.  Backed by six decades of experience, we understand how to balance the needs of every retail stakeholder. Leading retail brands trust us because we stick with them through every step – from the “what?” to the “so what?” to the “now what?” Our arsenal of tools includes both tested qualitative and quantitative methodologies and cutting-edge approaches that allow us to deliver new types of insights.

Custom market research solutions

Illuminator shopper panel powered by protégé, package testing, passive metering for website optimization, remote or in-person shop-alongs, segmentation, simulated shopper experiences, shopper journey, shopper missions, your ideal market research partner.

Whether you’re interested in strategic or tactical research, qualitative or quantitative methods, or optimizing your in-store or online experience, C+R Research is the ideal partner for retail market research.

We understand that retail is a complex ecosystem with many moving parts, and to achieve success, every part needs to be high performing. Our shopper-first mentality always seeks to answer the question, “How do we delight them?” When we focus on this question, retailers, manufacturers, and shoppers all win.

Proven Experience

Featured retailer case studies, unlocking the power of product display pages for…, assessing the physical and digital shopper journey to…, helping a retailer organize its departments to meet…, online community: a hub for innovation and connection…, developing an emphatic understanding of hispanic and…, winning with millennial moms for children’s….

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Let’s discuss your upcoming project, i do want to say that this project again demonstrates why i have come to rely on c+r and recommend you so highly. when i get a report from you it’s complete, well-thought, and always client-ready. i really appreciate the partnership i have with you., it was always a pleasure working with the team at c+r. i really appreciated your expertise and true partnership on every project., truly appreciate the strength of the partnership we have created with you. thank you for being a consistent and reliable resource., the report goes  beyond answering the questions ; it shows  deep understanding of the needs of the client  while ensuring the  integrity of the design .  thank you, thanks for  one of the best reports i’ve received …. the  quality of insights + deck writing > my expectations . the quality of voiceover/share out and process throughout has been my  best experience to date .   c+r shows up as a team-always on time, supportive of one another, and provides quality insights vs basic stuff., …we  appreciate our open partnership  and the constructive way we are building our relationship – we are  enthusiastic when we think about future projects together , you  offer your knowledge in a way that  never making anyone feel like they should have known “that” about the audience, treat it as an  opportunity to educate in a friendly way ., i’m  really proud  of this team and so  appreciate the partnership  we’ve created. you’ve both done a  fantastic job  helping us start off this journey and i look forward to continuing to build our learning with you all  , search this site.

Top 100 Retail Companies Market Research Companies

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The Best of September 2024

Looking for a top retail market research agency.

Market research is critical for determining best practices for engaging your target customers, understanding the parameters of a new market, and investing with confidence. Finding the right partner for your needs, however, can be difficult.  Read more +

Check out our directory of Retail Companies market research companies. Browse reviews and ratings and scan by industry or specialty to find the company that's the best fit for you.

List of the Best Retail Market Research Agencies

Featured providers

Aryo Consulting Group

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• Min. Project Size "> $10,000+
• Company Size "> 2 - 9 employees
• Location "> Boston, MA
• Consumer products & services " >
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• Manufacturing " >
• Min. Project Size "> $25,000+
• Company Size "> 10 - 49 employees
• Location "> San Francisco, CA

Antedote is a strategic innovation and insight consultancy in San Francisco and London, United Kingdom. Founded in 2014, they have about 8 employees that serve enterprise and midmarket clients in a wide variety of industries. Services include business consulting and market research.

• Food & Beverage " >
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• Location "> Alexandria, VA

Bixa, founded in 2012, is a research studio that specializes in market research and marketing strategy. The two-person team operates out of Alexandria, Va. and provides services such as interviews, observational research, and surveys. They work with large to mid-sized enterprises in IT, advertising and marketing, and business services among other industries.

• Business services " >
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Arlington Research

• Min. Project Size "> $5,000+
• Location "> Reading, England

Arlington Research is a full-service agency based in 2 Kingdom Street, England, and run by fewer than 10 people. Founded in 2105, they offer branding, market research, and PR services for clients that work in the industries of IT services, consumer products, and advertising.

• Automotive " >
• Real estate " >
• Telecommunications " >
• Supply Chain, Logistics, and Transport " >
• Location "> London, England

Vision One is a market research company. They are based in London, United Kingdom; Liverpool, United Kingdom and Willenhall, United Kingdom and have a small team. The firm specializes in market research.

• Advertising & marketing " >
• Arts, entertainment & music " >
• Education " >

RemCal Insights

• Min. Project Size "> $1,000+
• Location "> New York, NY

Established in 2017, RemCal Insights is a market research company. Their small team is located in New York, New York. Their team offers market research, branding, marketing strategy, and business consulting.

Lux Insights Inc.

• Location "> North Vancouver, Canada

Lux Insights Inc. Is a market research company. Their small team is in North Vancouver, Canada and provides market research, branding, and marketing strategy. The firm was launched in 2009.

• Utilities " >

Eris Strategy

• Location "> Annandale, Australia

Eris Strategy is a marketing firm founded in 2013 and based in Sydney with no more than 10 professionals. They provide market research, branding, and marketing strategy solutions to clients that work in the fields of advertising, consumer products, and financial services.

Craft Innovations

• Location "> Toronto, Canada

User experience company Craft Innovations was established in 2019. The firm specializes in ux/ui design, product design, market research, web design, and more and has a small team.

The Yard Creative

• Location "> LONDON, England

The Yard Creative is a design innovation house located in south London. It was founded in 2007 and now has a team of 19 that provides branding, market research, graphic design, and more.

• Location "> Warszawa, Poland

Marketing strategy company O11E was established in 2010. Their small team is located in Warszawa, Poland. O11E provides marketing strategy, market research, business consulting, branding, and more.

• Energy & natural resources " >
• Location "> Mount Pleasant, SC

2 Visions is a small business consulting company. The Mount Pleasant, South Carolina-based firm was founded in 2017. Their services include business consulting, digital strategy, and marketing strategy.

Estudio Contar

• Location "> Zapopan, Mexico

Estudio Contar is a market research company in Guadalajara, Mexico. Founded in 2013, they have about 14 employees that service mostly small-business clients in the real estate, retail, and business services sectors. Services include market research and content marketing.

• Company Size "> 50 - 249 employees
• Location "> Atlanta, GA

Acadia is a digital strategy company. They offer digital strategy, social media marketing, web development, email marketing, and more and were launched in 2021. Their midsize team is located in Atlanta, Georgia; New York, New York and Holland, Michigan.

Anderson Collaborative™

• Location "> Miami, FL

Anderson Collaborative is a data-driven digital agency based in Miami. The agency, founded in 2019, has a team of less than ten that provides branding, market research, digital strategy, BI & big data consulting & SI, and web development services to midmarket and other-sized companies in various industries.

TechSci Research LLC

TechSci Research LLC is a marketing firm founded in 2008 with over 50 employees. They provide business consulting, market research, and marketing strategy solutions from their office in New York. They work with both small and medium-sized companies.

Teak Research Co., Ltd.

• Min. Project Size "> $50,000+
• Location "> Bangkok, Thailand

Teak Research Co., Ltd. is a digital agency in Bangkok, Thailand. Founded in 2013, they have about 9 employees that serve mostly enterprise clients in the real estate, consumer products, and government sectors. Their services are specialized in market research.

• Location "> Chicago, IL

Substance, a branding agency, was established in 2005. They are located in Chicago, Illinois and have a small team. Substance provides branding, logo, advertising, social media marketing, and more.

Brighter Click

• Location "> Cary, NC

Brighter Click is an eCommerce growth agency. They provide social media marketing, pay-per-click, and creative strategy for eCommerce clients. They were founded in 2019 and have managed over 20 million in ad spend. Their main office is in Raleigh, North Carolina.

• Location "> Lisboa, Portugal

Kalinax is a big data agency based in Lisbon, Portugal with more than two experts. Founded in 2016, they specialize in big data and business consulting services for clients ranging from startups to enterprises in the industries of telecommunications, transportation, and more.

• Right People Group
• Location "> Cincinnati, OH

BS LLC is a Strategy, Branding, and Marketing agency focused on helping clients discover their place in the world and build from purpose. 

With science and art, we create timeless solutions for brands in transition. We help our clients grow from the inside out.

Effective Marketing

Effective Marketing is a Chicago-based marketing agency founded in 2009 with more than two members. They specialize in market research, social media marketing, and media planning and buying for clients in the fields of arts, business services, and consumer products.

AMZ DOC Consultants

• Location "> Jhelum, Pakistan

Founded in 2018, eCommerce Services provider is a pay per click company. Their midsize team is based in Jhelum, Pakistan and offers pay per click, advertising, market research, branding, and more.

• Hudson Hi-Fi

CANOPY Management

• Location "> Austin, TX

CANOPY Management is a midsize Austin, Texas-based PPC agency. Founded in 2018, the team offers pay per click, marketing strategy, market research, conversion optimization, and more.

Don't Cry Wolf

Don't Cry Wolf is a branding and PR agency in London, United Kingdom. Founded in 2018, they have about 15 employees that serve mostly midmarket and small-business clients in the consumer products, IT, and business industries. Services include branding, PR, and content marketing.

MMG MarketPage (formerly Myers Media Group)

• Location "> San Diego, CA
• Expedia (All Global Markets)
• Advance Auto Parts

Works. Hungary Kft

• Location "> Budapest, Hungary

Works. is a customer experience and user experience design company based in Budapest, Hungary. The company, founded in 2015, has a team of more than 15 that provides UX/UI design, market research, web development, and digital strategy services to midmarket and enterprise companies. 

• Magyar Telekom

Loupe Theory

• Location "> Baton Rouge, LA

Loupe Theory is a video production company founded in 2011. Located in Baton Rouge, Louisiana, their small team provides video production, marketing strategy, advertising, digital strategy, and more.

• Lamar Advertising Company

RDI Corporation

• Min. Project Size "> Undisclosed
• Company Size "> 1,000 - 9,999 employees

RDI Corporation is a telephone answering service. The large Cincinnati, Ohio-based company was established in 1978. Their team offers voice services, IT managed services, market research, and non-voice bpo/back office services.

Founded in 2004, Springbox is a digital marketing agency headquartered in Austin, Texas, with an office in Signal Hill, Calif. With close to 100 employees, the agency works with companies that are in need of help with digital and marketing strategy and content marketing.

• University of Texas

Conifer Research

Conifer Research is a research and design agency that has been offering market research, UX/UI design, and business consulting services to their enterprise and mid-market clients in the consumer products, health care, and hospitality industries since 2001. Their team of 50 employees is based out of their office in Chicago.

VOR Market Research

• Location "> Rio de Janeiro, Brazil

VOR Market Research is a market research company. They are in Rio de Janeiro, Brazil and have a small team. Their services include market research.

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Retail Market Research: The Ultimate Guide (2024)

When it comes to retail market research, more data doesn’t mean better decisions.

In fact, excess data can muddle important signals and lead to poor investment decisions.

So to simplify the market research process and make it easy to identify only the important data you need, we'll walk you through a step-by-step guide to market research for retail.

You'll learn which key metrics you need to track, how to find those metrics, and tools you can use to extract the data.

What is Market Research for Retail?

Retail market research is the process of analyzing a retail product or market's potential for future investment opportunities. Market research in a retail setting often aids in launching a new product, expanding your existing products to a new demographic, or improving a company's marketing efforts.

From a tactical standpoint, market research typically involves assessing both quantitative metrics like consumer spend, foot traffic, keyword search volume, and competitor growth rates, as well as qualitative metrics like consumer pain points mentioned in reviews.

Why Is Market Research Important For Retailers?

Here are just a few reasons why market research is especially important for retail businesses.

Identify New Investment Opportunities

Most failed product launches are unsuccessful for one of the following reasons:

• There wasn't enough demand for the product
• The product wasn't profitable
• The competition was too stiff

The good news is that a solid market research process can help you identify all three of these fatal issues and reduce launch risk. In fact, the step-by-step process we'll detail below shows you exactly how to safeguard against these three common challenges.

Set Attainable Goals and Accurate Projections

Market research is a great way to help you set realistic goals and make more accurate projections.

Keep a Pulse on Competitor and Industry Trends

If you don't stay at the forefront of industry trends, your competitors will pounce on new opportunities and quickly take your market share.

So even if you aren't planning to launch a new product or expand to a new demographic, market research is critical to stay up to date with consumer trends and your competitor's movements.

For example, if your competitors are targeting a new demographic or marketing on a new platform, you can quickly jump on that opportunity to stay ahead of the game.

Improve Marketing Messaging and Customer Relationships

Market research also helps you stay up-to-date with consumer behavior so that you can shift your product, messaging, and customer service to better serve them.

For example, if you notice your target market discussing a particular pain point regarding a product category you offer, use that insight to inform your new marketing campaigns or even tweak your product.

Step-by-Step Market Research Process For Retailers

Now let's walk through exactly how to execute a market research process that will help you confidently make data-driven decisions.

Step 1: Identify Industry Trends

One of the hardest aspects of market research is uncovering up-and-coming industry trends that you're not aware of. 

If you can identify these trends in their infancy, you'll have the first-mover advantage, which will give you an edge over the competition.

So how can you identify key market trends before your competitors? 

While most people rely on their network, social media, and industry publications to identify trends, this manual research is time-consuming and the trends suggested aren't always supported by reliable data.

So to solve this problem and make it easy to identify trends based on solid data, we built Exploding Topics. The flagship product is the Trends Database, which offers nearly 1M total trends.

Each trend is a product, company, or industry keyword relevant to business topics. You'll also see a graph that represents its Google searches history over time (the default time frame shown is five years, though you can adjust this to as far back as 15 years or as recent as the past three months).

So to get started with the market research process, you can jump into the free Exploding Topics database and sort by your company's category (e.g., "pets," "fashion," "design," etc.).

You can also filter just by brands to zero-in on trending companies in that space.

If you're using Exploding Topics Pro , you can easily track any interesting topic by clicking "Track Topic" and creating a project for products, keywords, and companies.

So if you're in the pet space, you might have three Projects that look like this:

​​By using the Trends Database, you no longer have to spend hours scanning industry publications or scrolling through social media in hopes of finding an occasional promising new trend.

So how do I know that the topics in the Trends Database are reliable trends versus fads that will quickly disappear ?

First, Exploding Topics uses Google search volume to determine the status of each trend, as we've found it's the most reliable method to determine interest in a topic over time.

In addition, our trend discovery and vetting process involve s both AI and human analysts to ensure each trend in the database is signal – not noise .

Specifically, Exploding Topics uses AI to scrape websites like Reddit, YouTube, Twitter, and even podcasts. Then, a human analyst manually vets each trend to ensure it has business value before adding it to the database.

This strategy ensures every topic inside the Trends Database is a golden nugget – not noise.

While the Trends Database is excellent for uncovering new trends, we realize you might already have a topic in mind (for example, a product category you're looking to get into) and just want to check its trend status. To do that, you can use the Trend Search feature to generate a trend report for any topic on the fly.

Simply type in the keyword and it automatically creates a report with the keyword’s search volume history and related search terms:

Step 2: Gather Quantitative Data on Trends

Now that you’ve identified a handful of interesting trends, you can collect quantitative data to identify which markets or niches are most promising.

So let’s go through a few quantitative metrics you should find for each of the following categories we identified in the first step.

For Competing Companies:

• Hiring : If a company is actively hiring, there's a good chance that there's substantial demand for that company's products. To see if the company is hiring, you can do a quick Google Search for the brand name and "hiring" as that usually pulls up any listings from Indeed , ZipRecruiter , and other hiring platforms. Alternatively, you can look on the company's LinkedIn page and check the "Jobs" tab to see if there are any open positions.
• Funding : While investors aren't always right, they dedicate all their resources to tracking industry trends. So if you see that a particular company in the niche you're researching has raised a lot of money, that's definitely a good sign. You can use a tool like Crunchbase to identify funding data for most companies.
• Revenue : If the company you're tracking is publicly traded, you should be able to see its revenue. However, try to find the revenue trend , as that is often a better indicator of the market's future than the revenue number itself. To find revenue data, you can just do a Google search for the brand name and revenue, or you can use a tool like Owler to estimate the revenue.

Here’s a quick video of how I’d find the above information for “Hero Cosmetics.”

For Topics/Markets:

• Market spend : Many research companies provide free market reports on various industries with data like estimated market size, compounding annual growth rate (CAGR), and other critical retail market research statistics. A few of the most popular ones include Allied Market Research and Grand View Research , though the easiest ways to uncover these reports is usually a quick Google Search for the retail industry you're searching for and the keyword "market size."
• Related keyword data : While the initial topics you found in Exploding Topics can help you uncover new trends, you can uncover more opportunities by searching for related terms and similar products. For example, if you found that Hero Cosmetics is taking off, you can look at what their top organic keywords are in Ahrefs or Semrush . Alternatively, you can search a product keyword in Google, scroll down to the suggested search results, and then find a list of related keywords.
• Geographic market size : Given that most retail businesses have brick-and-mortar stores, you should also research the market size and consumer spending trends of the geographic region where you're considering opening a retail store. The Census Business Builder is excellent for finding regional consumer insights like detailed consumer spending breakdowns, income, and other helpful data.

To see how to uncover all of this information, here’s a quick screen recording of researching the anti-acne market research.

For Products:

• Profitability : Before launching a new product, it's critical to understand if it will be profitable to sell. To estimate profitability, you can use an ecommerce research tool like Jungle Scout to view an item's approximate wholesale and retail price. While your products might be slightly different, and you'll probably use different manufacturers, it's a great place to start with profitability estimations.
• Demand/sale history : Once you've estimated the profitability of a product, you can estimate the demand for it by looking at Amazon sales with a tool like Jungle Scout or track sales on other ecommerce sites with a tool like Grips .
• SEO difficulty : A company like Nike has significant domain authority in the shoe and athletic wear space, so it will immediately have an advantage in ranking for keywords in that space. However, it might be much more difficult to capture organic SEO traffic if you're a newer brand.
• PPC cost : Another method to estimate the difficulty of attracting traffic is to look up the cost per click for paid keywords. For example, if you want to sell work gloves, you'll see that the CPC for that is about $3.50, so that's useful information to determine whether or not you'll have the budget to be competitive for that product.

Here’s a quick video of how I’d find the above information for the product “Migraine Hat.”

Step 3: Execute Competitive Market Analysis

When you launch your product, don’t try to reinvent the wheel. Instead, look at the top players in the space and duplicate the aspects of their strategies that are working.

To get started, do a quick Google Search for the core product keyword and create a list of the top competitors. Ideally, find niche brands as it will be easier to copy their marketing strategy than a global conglomerate's marketing strategy.

For example, if you plan to sell dog leashes, write down niche companies like Wilderdog, Fable Pets, and Atlas Pet Company rather than billion-plus dollar retailers like Walmart or PetSmart.

Once you've created a list of these companies, you can use a tool like Similarweb to uncover the following metrics:

• Total traffic and traffic trends : Ideally, see how the traffic has increased or decreased over the past 12 months.
• Traffic region : This will tell you which demographics likely drive the majority of the company's revenue.
• Gender and age distribution : This will help you with marketing messaging and copywriting.
• Top marketing channels : Simiarweb also shows you what percentage of traffic comes from organic search, social media (you can also break this down by social media platform), email, and display advertising. This data makes it easy to identify which marketing channels you should analyze in more detail.

Here’s an example of how I uncovered the above information for Wilderdog:

To help you get started, you can use this free spreadsheet to fill out the metrics above.

Once you have general data on which marketing channels your competitors are using, do a thorough analysis of their strategy for each channel.

• Facebook Ads : You can use the Facebook Ads Library to dive into your competitors' ads and see which ones are running the longest, what aspects they've A/B tested, and more.
• SEO : You can use Ahrefs or SEMrush to identify the top-performing pages, keywords, and approximate difficulty to rank for the same keywords.
• Google Ads : You can use Ahrefs or SEMrush to identify the keywords your competitors are targeting, the exact ad copy they're using, and the approximate traffic to those landing pages.
• Email : Sign up for your competitor's email list and then note how often they send emails, the general messaging, and promotional offers.
• Organic Social : To determine what type of content resonates best with the target persona and which platforms are most effective, just search your competitors' brand name on all popular social media platforms. Then identify the platforms they are most active on and take notes of what kind of content performs the best.
• Influencer Marketing : There are two ways to track your competitors' influencer marketing campaigns. First, you can do a Google Search for the competitor's brand name and "reviews." This will show you approximately what influencer demographics they use to promote their products. Alternatively, you can use a tool like Hype Auditor to give you a more detailed breakdown of all the influencers your competitors are using and even ROI estimations.

Step 4: Qualitative Customer Research

Once you have advanced intel on your competitors and the market, collect qualitative data. This is key to identifying how you'll position your brand and build high-quality products to solve pain points associated with competitors' products.

So here are a few different ways to collect qualitative customer data.

Customer Surveys

If you already have an email list, you can simply survey your existing customers about the new product. Here are some great questions to ask in your survey:

• What other retailers do you shop at?
• What related products do you also purchase?
• What's your biggest pain point with (pain point your new product solves)?

Even if you don't yet have a store or product, start building an email list today. This list will allow you to build your product with your potential customers, and it will give you more momentum when the product is ready to launch.

To see an example of a pre-launch website, check out Dreema’s website from 2022.

However, if you're still not sure you want to launch a new product line or which audience you want to target, here are some other ways to find relevant survey respondents.

First, you can partner with influencers who already have your target audience and pay them to run a survey on your behalf. For example, you could use a platform like Upfluence and hire an influencer to run a survey for you.

Another option is to use a tool like SurveyMonkey or Pollfish which enables you to run surveys to a specific audience.

For example, you can target female consumers between the ages of 25 and 30 in the United States and these survey platforms will run a custom survey to that audience. Pollfish also allows you to include screening questions like, "Did you buy a supplement for your dog in the past 12 months?"

The average cost to run these surveys ranges, though you can typically get started for as low as $1 per response.

If you're running a survey for a retail product that you're about to launch, here are a few different questions you can ask:

• What brands do you currently use?
• What pain point prompted you to purchase this product?
• If you could change something about this product, what would you change?
• What were your top concerns when purchasing this product?
• How did you evaluate different products in this market?
• What made you choose this brand in particular?
• What do you love most about this product?
• What aspects of the purchase experience was excellent?
• What about the purchase experience could have been better?

This makes it easy to collect qualitative data for a reasonable price without owning an audience.

Customer Interviews

While customer surveys make obtaining a high volume of qualitative data easy, you might not uncover the golden nuggets of information that a one-on-one conversation can reveal.

If you already have a target audience, you can simply send an email to your list and offer an Amazon gift card for getting on a call with your team for ten minutes.

If you don't have access to the target audience yet, you can always join groups on social media for that target audience.

For example, if you're planning to launch a baby monitor product, you could join a Facebook group for Moms and ask any of them if they've purchased a baby monitor. For those who respond, you can ask if they'd consider getting on a call with you in exchange for a gift card.

Once you’re on the call, be sure to record it so that you can later analyze all of the recordings for trends.

Once you're on the call, record it so you can later analyze all of the recordings for trends.

You can use a tool like Discuss.io to record the call, as it compiles all of your call recordings and performs sentiment analysis to help you zero in on customer pain points. It also allows you to save key moments, and its theme finder automatically generates video clips based on pre-selected or new keyword tags.

Customer Reviews

Finally, an easy way to quickly gather qualitative customer data is to read reviews of competing products and identify what people liked and disliked about the product.

You can hire a VA to read through reviews and take notes for you, or you can use a tool like Bright Scraper's Amazon review scraper to find trends in reviews.

As you comb through reviews, look at not only what they liked and disliked about the product, but also details about the customer experience, what caused people to look for the product, and other more detailed aspects of the buyer's journey.

Amazon also shows you a list of other products each reviewer purchased, so use that information to identify parallel products and niches that the target audience uses.

Create a Focus Group

While researching competitive products is a great way to gauge how you can create a better product, the best way to see if your product is actually the best for that customer segment is to test it out.

However, launching a new product to your entire audience is risky as there will inevitably be some trial and error with the first version.

So to improve the quality of your product (before it launches) and generate high-quality customer feedback, create a focus group to test the product for you.

For example, when Nordstrom decided to focus on improving customer satisfaction, they launched Project 18 . This project was a focus group of their 800 most engaged customers in Los Angeles to provide feedback on a new shopping app and a new line of clothing they would launch in local department stores.

The focus group helped them identify key customer pain points and fix them before launching to their entire audience.

Step 5: Collect Pre-Sales

Now that you've thoroughly researched the target audience, the only way to tell if the product will actually perform well is to try to sell it.

So rather than developing a product and then hoping you can sell it, consider collecting pre-sales before creating the product.

Then, if you don't receive as many sales as you projected, you can cancel the launch and refund the customers (or only charge their cards when you ship the product). This way, you never waste time and resources manufacturing a product that nobody wants.

Endless Blading is an excellent example of how retailers can leverage pre-sales to validate products.

On the website, select products are available for pre-sales, and here's how they've laid out their pre-sale terms :

By collecting pre-sales, you significantly increase the likelihood that your product launch will be a success and add anticipation to the product's release.

Start The Market Research Process Today

There are plenty of different research methods to identify new products and markets, though it’s easy to get lost in a mountain of data and fail to identify key signals to guide your investment and marketing decision-making process.

To get started with the first step, identifying industry trends, you can browse the free Exploding Topics Trends Database , or sign up for Exploding Topics Pro to unlock premium trends, generate trend data for specific topics, create and save projects, and more .

Find Thousands of Trending Topics With Our Platform

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Tackling the challenges of fast-moving consumer behavior has never been easier with our retail market research company. Easily stay ahead of the competition, as we equip you with the valuable knowledge needed to navigate the dynamic retail landscape with confidence.

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Retail Market Research Company

The retail landscape is constantly evolving, driven by changing consumer behaviors, technological advancements, and the ever-expanding digital marketplace. To thrive in this challenging environment, brands need to harness the power of retail market research to gain a deep understanding of their customers and seize every opportunity for growth.

At Drive Research, we understand the fierce competition retailers face to capture consumers' attention, loyalty, and ultimately, their business. As a full-service market research company , we are dedicated to helping your retail business navigate through these complexities and unlock the true potential of your brand.

Whether you are a brick-and-mortar store looking to optimize your in-store experience or an e-commerce giant aiming to enhance your online presence, our team of experienced researchers and analysts is here to support you at every step of your journey.

Leading Retail Brands Choose Us for Market Research

Our Retail Market Research Services

Our qualitative and quantitative research services are tailored to provide you with valuable insights into the minds of your customers. Armed with this knowledge, you can make data-driven, strategic choices that resonate with your target audience and build lasting brand connections.

Here are just a few of the many retail market research options  we offer.

Online Surveys

Collect measurable insights into shoppers' preferences, habits, and motivations, to uncover the key drivers that influence their purchase decisions with online surveys .

Our retail market research company conducts various types of surveys such as:

• Ad concept testing surveys
• Brand awareness surveys
• Brand tracker surveys
• Geofencing surveys
• Pricing surveys
• Customer and employee surveys

Focus Groups

Our retail focus groups go beyond merely gathering opinions. They provide an invaluable opportunity for your retail business to connect directly with your target customers.

We offer various options to host group discussions. Our clients have the option to conduct the focus groups at our Syracuse facility , at a location of their choosing, or remotely with online focus groups . 

Additionally, Drive Research can oversee focus group recruitment , moderating, reporting, and more.

Shop-alongs

Rather than surveying someone as they leave a retail or grocery store, shop-alongs involve an interviewer accompanying customers as they browse the store for things to buy.

The purpose of a shop-along is to uncover thoughts, influences, preferences, and motivations when customers are shopping for a product.

The real-time nature of the research enables Drive Research to delve into the psychology of consumer decision-making as it unfolds.

Market Segmentation

Market segmentation is the process of dividing a vast market into smaller, distinct groups of consumers who share common needs or characteristics.

By categorizing customer groups by their unique preferences and behaviors, retail brands can customize their product offerings, messaging, and promotional tactics for optimal engagement and sales.

Unlock the potential of consumer segmentation by downloading our Grocery Shopping Consumer Segmentation report for more details.

Website User-Experience (UX)

Website UX research with Drive Research ensures your online platform is user-friendly, intuitive, and optimized for customer satisfaction.

By understanding how visitors interact with your online store, identifying pain points, and uncovering opportunities for improvement, you can enhance the overall online shopping experience and increase customer engagement.

All of which work to drive higher conversion rates and sales.

Gain valuable insights into customers' preferences and stay ahead of your competition by conducting custom retail market research. Request a Quote

What Brands Are Saying About Our Retail Market Research Company

Our success is your success. Retail brands employing market research with Drive Research remain a step ahead of their counterparts in a highly competitive industry. It’s why we’ve earned a near-perfect 5-star Google rating . Don’t just take our word for it. Here is why our clients love working with us.

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Frequently Asked Questions About Our Retail Market Research Company

What is market research in the retail industry?

Market research in the retail industry is the systematic process of gathering, analyzing, and interpreting data related to consumers, products, and market trends. It helps retailers gain valuable insights into their target audience's preferences, shopping habits, and needs, enabling them to make informed business decisions, optimize marketing strategies, and enhance the overall customer experience to drive growth and success.

How to do market research for a retail store?

To conduct market research for a retail store, start by defining your research objectives and target audience. Utilize a combination of methods such as surveys, focus groups, interviews, and observation to gather data on consumer preferences, shopping behaviors, competitor analysis, and market trends. Analyze the findings to identify opportunities, optimize product offerings, and tailor marketing strategies to meet the specific needs of your customers and gain a competitive edge in the retail industry.

How much does retail market research cost?

The cost of retail market research can vary widely depending on the scope of the project, the research methods used, the sample size, and the complexity of the research objectives. It is best to contact a market research company directly to discuss your specific needs and obtain a customized quote for your retail market research project.

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18 US market research companies for leading consumer insights

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When it comes to understanding modern American consumers, guesswork just won’t cut it. With transformative changes affecting the way we shop, behave, and consume media, it’s no secret that in-depth consumer research should be at the heart of every strategic marketing, product, or business decision you make. 

There are a myriad of US market research companies out there armed with customer insight platforms, smart research tools, and AI-powered features that give you the answers you need. But which is best for reaching your US target audiences? Whose data can you trust? With so much choice, it can be tough to figure out which market research company is the right fit for your business needs. 

To help you make that decision (‘cause we’re nice like that), we’ve put together a no-nonsense rundown of the best market research companies for US consumer insights right now, outlining the specialist areas and key use cases you might consider them for. Grab a hot drink and settle in. 

Oh – and if you’re interested in the best market research companies in the UK , we’ve got a shortlist of those worth skimming through too. 

How to choose the right US market research company

It sounds obvious, but every US market research company is different. The type of consumer data they collect, and how they deliver it to you really varies. So before you commit to a research partner, think carefully about the kind of support you need – and crucially, how quickly you need it. Start by asking these six questions:

• Do they know about your audience? 
• Do they have expertise in your industry/category, with a proven track record of success?
• Do they conduct the right kind of research to answer your questions, with a sound and trusted methodology? 
• Are they transparent about how they collect and analyze data to ensure quality?
• Do they have the capacity to provide fast results, with regular client communication?
• Most importantly, will they understand your long-term goals and add value to your business?

If you can answer “yes” to each of these questions, you’re on the right track to finding the perfect partner. But if you want more guidance on how to drive research forward, here’s our list of the leading US market research companies worth considering, in no particular order. Well, except for us – obviously.

Top 18 US market research companies worth considering

It would be crazy if we put together a comparison piece on US market research companies and didn’t mention our very own AI-enhanced, on-demand consumer research platform . So let’s start there.

GWI is modernized consumer research, with an intuitive platform that instantly puts high-impact US consumer research at your fingertips.

Location: New York, USA (with additional offices in the UK, Greece, Czech Republic, and Singapore)

Specialisms: Every business has questions about its audiences; GWI has the answers. Get a window into your target audience’s world, on demand, with our easy-to-use consumer research platform. Our GWI USA data set covers an 80K+ annual sample, representing the views, behaviors, and interests of 250 million US consumers in all 50 States. Need to go beyond the US? Delve into our global flagship survey representing nearly 3 billion consumers in 50+ markets worldwide.

Understand today’s diverse Americans in seconds, with deep psychographic consumer insight spanning key topics like social media, mental health, DE&I, and attitudes toward brands. And if you need fast answers on something really specific? Ask your US audiences any question you like with our custom research solutions.

Use cases include: 

• Marketing strategy ( ad targeting , brand health tracking, content marketing, and media planning)
• Revenue growth (media ad sales, winning pitches and retaining key clients)
• Product development (product expansion, improvements, and partnership and collaboration opportunities)
• Competitive advantage (market differentiation, market sizing/expansion, and sponsorship opportunities)

2. MRI-Simmons

A long-standing provider of US consumer insights, collected through address-based probabilistic sampling, and online and in-person interviews.

Location: New York, USA

Specialisms: MRI-Simmons offers a complete view of the American consumer – providing consumer research via a national study, print studies into magazine ad readership, and focus studies for deeper insight into emerging tech and cultural trends. Data is based on a representative sample of over 50K+ US consumers in 48 states (excluding Alaska and Hawaii), with surveys conducted twice a year. 

Use cases include:

• Audience profiling
• Market sizing
• Media planning

An integrated, AI-driven enterprise platform combining “quant, qual, and high quality audiences” into a connected research cloud.

Specialisms: Using AI to drive research, Suzy has three main product offerings – Suzy Insights, Suzy Live, and Suzy Audiences – and offers real-time customer insights delivered with “agency-quality rigor”. Pulling data from an active, engaged community (via surveys, interviews, and focus groups), its platform helps teams understand US consumers, explore purchase journeys, validate ideas, optimize marketing assets, and more.

Use cases include:  

• Concept testing
• Product development

AI-powered market intelligence that solves critical questions in the decision-making process, and helps drive sustainable growth.

Location: Nuremberg, Germany (with additional global offices)

Specialisms : GfK “drives growth from knowledge” by providing a holistic view of US consumers’ buying behavior and the dynamics impacting markets, brands, and media trends. With particular expertise in consumer and shopper intelligence, Gfk’s research methods include surveys, point-of-sale data analysis, and wider market monitoring. It also offers strategic consultancy to help businesses make great decisions.

• Competitive advantage
• Market segmentation

A global media leader specializing in TV, video, and radio audience and data analytics.

Location: New York, USA (with additional global offices)

Specialisms: Nielsen is a powerhouse of market intelligence, “connecting clients to audiences, growth and new opportunities”. It explores nuanced consumer behavior, preferences, and market dynamics to give media brands an edge. You may be familiar with Nielsen ratings – its renowned audience measurement system for TV viewership – which have been a deciding factor in many shows being renewed or canceled over the years.

And in case you didn’t know – GWI has an ongoing Fusion partnership with Nielsen that delivers advanced media insights and analytics to our customers. A pretty solid choice of market research partner, if you ask us.

• Ad targeting
• Media planning 

A business intelligence and market research company that helps clients “drive data-backed business decisions that enhance customers’ lives.”

Location: Virginia, USA

Specialisms: Bixa gives businesses a springboard to sustainable growth by helping them “build meaningful connections” with customers. It shares targeted business intelligence for a deeper understanding of US audiences, market dynamics, and emerging trends. Ultimately, it helps businesses with strategic decision-making. Data derives from diverse sources including surveys, consumer feedback, and in-depth industry analysis. 

• Brand health tracking
• Market expansion

7. Morning Consult

A real-time “decision intelligence” and custom research tool, powered by consumer opinion polling.

Location: Washington, D.C., USA

Specialisms: Morning Consult provides timely consumer opinions and market insights, alongside current economic data and political trends.  Daily surveys and insights give businesses the agility they need to pivot strategies quickly and effectively. Analyzing niche audiences and underserved buyers in 100+ countries (including the US), it’s also useful for identifying new market opportunities.

• Political risk analysis

Equipping clients with market intelligence tools to help them make “smarter decisions, faster and more consistently across markets”.

Specialisms: Ipsos is a global market research company that sources consumer data from surveys, behavioral analysis, and social listening. With specialist insight into the lifestyles, media habits, and purchase behavior of financially-successful Americans (via its Affluent Survey), it also pays particular attention to public opinion. This helps brands tune in to changing market trends and benchmark how well they’re received by consumers.

• Digital marketing strategy
• Sentiment tracking

An AI-driven “knowledge management” tool that helps enterprises keep pace and make fast decisions through predictive analytics.

Location: Minnesota, USA

Specialisms: Putting AI at the heart of market research, Lucy “exists to amaze, delight, and empower people with knowledge”. Generating US insights via machine learning algorithms, it rapidly analyzes a blend of large data sets, social media interactions, and consumer behaviors. Lucy is trusted by 18+ Fortune 1000 companies to deliver advanced analysis at speed – saving time while boosting organizational productivity. 

• Trend forecasting

10. Comscore

Leading digital audience insights and media performance analysis, that helps businesses generate more ROI from their advertising.

Location: Virginia, USA (with additional global offices)

Specialisms: Sharing real-time US consumer insights on media consumption, Comscore provides effective digital marketing and advertising solutions across several veins (including TV and advertising). Using its robust, reliable suite of tools, clients can explore demographics to understand American audiences, then optimize ad targeting and wider marketing strategies for better engagement and return on investment.

11. Kantar Marketplace

A market research company offering relevant, robust data about global and local audiences in an increasingly connected world.

Locations: New York, USA (with additional global offices)

Specialisms: Kantar serves industry-leading consumer insights across TV, radio, print, and digital – all unpacked in its Target Group Index (TGI) survey. Based on a representative 700K+ sample across 50 markets, data is collected online and through offline consumer panels. Analyzing attitudes, behaviors, media consumption, and brand/product use, Kantar promises “decision-quality insights in as little as a few hours.” 

12. 1+1 Research

A full-service fieldwork company supplying tailored market research solutions to companies across the globe.

Specialisms:   1+1 Research provides bespoke market research services for its clients, such as consumer opinion mining and sentiment analysis. Depending on a company’s needs, US consumer data can be collected through focus groups, online surveys, industry analysis, and CATI (computer-assisted phone interviews) among other methodologies – ideal for those with unique industry requirements who need a bit more flexibility.

• Brand strategy
• Custom research

13. Gartner

Expert market research company that delivers practical solutions for fast, informed decision-making and measurable impact.

Location: Connecticut, USA (with additional global offices)

Specialisms : Gartner is a global name in market research for good reason. Its on-demand diagnostics, insights, frameworks, rankings, and benchmarking tools help businesses work smarter, not harder to get ahead of modern Americans in the digital world. Valuable insights are sourced from a mix of market analysis, surveys, and expert consultations, and outline the impact of new technology on US businesses and consumers alike. 

Use cases: 

• Customer experience

A real-time consumer intelligence platform that helps clients figure out what matters to their online audiences, fast.

Specialisms: Subscription-based Toluna Start offers automated solutions that put market research into its clients’ hands. Collating US survey data from a global community of engaged consumers, its platform users get a dynamic view of digital preferences and behaviors to help them validate their strategies and implement feedback in a real-world environment.

• Marketing strategy

15. Statista

A global data and business intelligence platform aggregating statistics, market research reports, and key insights on over 80,000 topics.

Specialisms: Statista is a household name for timely US market and consumer insights, designed to “empower people with data” on key topics such as the economy, military, and population. Solutions include analysis of behavior and media usage (via Consumer Insights) and trend forecasting (via Market Insights). Data coverage also extends globally, with a representative 1.7M+ sample across 56 countries.

• Content marketing
• Winning pitches and retaining clients

16. SIS International Research

A full-service consulting firm supplying market intelligence and consumer research solutions to businesses worldwide.

Specialisms: SIS is a US market research company with specialist experience across various industries, including B2B, supply chain, and healthcare market research. It sources data and strategic insights from a global network of field researchers, alongside consumer surveys and interviews. SIS helps businesses benchmark against competitors and create tailored strategies for success – even as market dynamics change.

17.  Forrester Research

A US market research company that helps global organizations excel with technology and deliver on consumers’ changing demands.

Location: Massachusetts, USA

Specialisms: Combining traditional, in-house market research with a modern, tech-driven mindset, Forrester Research offers deep consumer insights along with recommendations for tech adoption strategies. It takes data from consumer surveys and expert market assessments, with findings analyzed by its team of experts. Clients benefit from clear results and a deeper understanding of nuanced consumer behavior in their industry.

• Market differentiation

18. Resonate

US market research and consumer intelligence experts, offering AI-powered consumer data and predictive insights. 

Specialisms: Resonate operates through “rAI”, its unique AI consumer intelligence model that gives clients a holistic view of their US audiences. Blending online behavioral data with surveys, psychographics, and real-time consumer interactions, it takes an in-depth look at what makes Americans unique, and the “why” behind what they do. Ideal for crafting highly targeted, effective marketing strategies backed by granular insight.

[H2] Those are our top market research recommendations, now it’s over to you

Nineteen US market research companies, with nineteen different ways to tackle US consumer research. Hopefully you’ve come away from this blog with a clearer idea of exactly what you need from a research partner, and who you can trust to get the job done. We’ll leave you to digest.

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7 Top In-Store Research Companies 2020

A Quirk's resource guide covering in-store research companies

SPONSORED CONTENT 

The following companies employ a range of methodologies to meet your in-store research needs – from the supermarket and beyond. From face-to-face techniques such as shop-alongs and intercept interviewing to tech-driven methods like virtual ethnographies and eye-tracking, these companies are well equipped to handle your in-store research needs.

a th Power Consulting

Founded 1997 | 60+ employees

Frank Aloi, CEO

Phone 1-978-474-6464 www.athpower.com

Founded 1986 | 200+ employees

Dana Stetzer, CEO

Phone 1-952-922-2205 www.bestmark.com

Founded 1986 | 48 employees

Elaine Buxton, CEO

Phone 1-800-326-3880 www.conferoinc.com

Creative Consumer Research

Founded 1976 | 83 employees; 13 full-time; 70 part-time

Patricia Pratt, CEO

Phone 1-281-240-9646 www.ccrsurveys.com  

Decision Analyst Inc.

Founded 1978 | 150 employees

Jerry W. Thomas, CEO

Phone 1-817-640-6166 www.decisionanalyst.com/services/shopperinsights/

Informed Decisions Group Inc.

Founded 2004 | 13 employees

Colin Valdiserri, CEO

Phone 1-440-454-0399 www.idg-consulting.com

InsightFarm Inc.

Founded 2003 

Kelley Styring, Founder and Principal

Phone 1-503-554-5567 www.insightfarm.biz

In Case You Missed It...January/February 2024 Related Categories: Research Industry, In-Store Research Research Industry, In-Store Research, Competitor Customer Research, Consumer Research, Consumers, Product Development Research, Product Purchasing Studies, Shopper Insights

Retail Market Research: Specifics, Challenges, and Tips

• by Alice Ananian
• May 29, 2024

The retail industry is a bustling marketplace where competition is fierce and customer preferences are constantly evolving. To thrive and grow in such a dynamic environment, market research is not just beneficial – it’s a necessity. Retail market research involves gathering, analyzing, and interpreting data related to consumer behavior, market trends, and competitor strategies. For entrepreneurs, market analysts, and small business owners within the retail sector, understanding the specifics and best practices of retail market research can be a game-changer.

This comprehensive guide looks at the power of retail market research, how to approach it effectively, tools to simplify the process, featuring a case study, and tackle the challenges head-on.

What Makes Market Research for Retail Unique?

Market research in the retail industry is marked by several distinct features that set it apart from other sectors. Understanding these unique aspects is crucial in conducting research that yields actionable insights.

1. Hyper-focus on the Customer

Retailers are laser-focused on understanding their target customers . This goes beyond demographics to encompass shopping habits, preferences, and even emotional drivers behind purchases.

2. The Competitive Landscape

The retail world is crowded and fiercely competitive. Market research helps identify what competitors are doing well (or poorly) and allows retailers to differentiate themselves [4].

3. The Importance of Experience

In today’s retail world, the customer experience is paramount. Retail research goes beyond product desire and explores factors like store layout, online usability, and even employee interaction.

4. Keeping Up with Trends

Retail is a dynamic industry, and what’s hot today can be yesterday’s news tomorrow.  Market research helps retailers identify emerging trends and adapt their offerings accordingly.

5. The Blend of Online and Offline

Modern retail isn’t just about brick-and-mortar stores or websites anymore. It’s a seamless blend of the two.  Retail research needs to consider how these channels interact and how customers navigate between them.

By considering these unique aspects, retailers can leverage market research to make smarter decisions about everything from product selection to store layout and marketing campaigns.

How to Conduct Market Research for Retail Businesses [Step-by-Step Guide]

Effective retail market research is a systematic process that involves several key steps. By breaking down the process, you can conduct thorough research that informs smart business decisions.

Step 1: Define Your Research Goals & Target Audience

Goal Setting: What do you want to learn? Is it understanding customer preferences for a new product line, analyzing competitor strengths, or gauging interest in a new store location? Clearly defined goals will guide your research methods.

Target Audience: Who are you selling to? Define your ideal customer profile by demographics (age, income, location), interests, and shopping habits. This helps tailor your research methods to reach the right people.

Example:   A clothing boutique wants to launch a new activewear line. Their target audience might be young professionals (22-35) who are health-conscious and shop online and in-store.

Step 2: Develop Your Research Plan

Primary vs. Secondary Research: As with any industry, primary research involves collecting your own data (surveys, interviews). Secondary research involves leveraging existing data (industry reports, government statistics).

Example: For the yoga wear example, primary research could involve focus groups with potential customers to understand their preferences for materials, styles, and price points. Secondary research might involve looking at industry reports on the growth of the eco-friendly clothing market.

Pro tip: Gathering primary research can cost you a lot of time and money. To better coordinate your efforts, make sure you use tools that do the leg work for you. For example, instead of creating templates and funneling all your findings manually into an Excel sheet, consider launching your product.

Prelaunching, i.e., creating a landing page with Prelaunch , opens up a world of insights into your target audience, best iterations of your product, and price point. All this information is neatly collected in a Dashboard, so all you have to do is analyze your data.

Step 3: Gather Your Information – Primary Research Methods

Surveys & Online Polls: Develop targeted online surveys or polls to gather customer opinions on product ideas, pricing, and brand perception. Tools like Google Forms or SurveyMonkey can help create and distribute these.

In-Store Observations: Observe how customers interact with your products or competitor products in physical stores. Note what attracts them, what they try on, and where they spend time.

Focus Groups: Conduct small group discussions with potential customers to gain deeper qualitative insights into their needs, motivations, and pain points.

Action Step:   Merge the processes of surveys, online polls, and focus groups with a singular platform that helps you do it all. Setting up a concept-validating landing page on Prelaunch gives you access to real-time insights. Surveys are an embedded part of Prelaunch’s funnel.

For instance, the Reservation Survey is displayed on the Thank You page following a potential customer’s reservation of the product. This enables you to pose questions aimed at enhancing the product and identifying the customer profile.

The Cancellation Survey is presented when someone selects the “No, thanks” option on the Reservation page. This offers insights into their reasons for not reserving the product and what changes could potentially change their mind.

The Prelaunch platform is also set up to conduct focus groups which can be organized remotely and from a group of potential buyers that have already confirmed their purchase intent. The result is the most accurate data you could ever wish for.

Step 4: Gather Your Information – Secondary Research Methods

Industry Reports: Look for reports from market research firms or industry associations that provide data on retail trends, consumer behavior, and market size for your specific niche.

National Retail Federation (NRF) : Publishes annual reports on retail industry trends, consumer spending, and economic forecasts. They also offer specific reports on various retail sectors like grocery, apparel, or electronics.

Euromonitor International : Provides market research reports on various consumer goods sectors, including retail. Their reports offer in-depth analysis of market size, growth projections, and consumer trends across different regions.

McKinsey & Company : Produces research reports on retail industry disruption, e-commerce trends, and the future of shopping. Their insights are valuable for understanding the broader forces shaping the retail landscape.

Trade Publications: Stay updated on industry trends and competitor news by following relevant publications and websites.

Retail Dive : A leading online publication that covers retail news and trends across all sectors, from e-commerce to brick-and-mortar operations. They offer insightful articles, data analysis, and interviews with retail industry leaders.

Chain Store Age : A trade publication focused on news and strategies for multi-location retail chains. Their content covers topics like store operations, merchandising, and supply chain management.

STORES Magazine : Published by the National Retail Federation, STORES Magazine covers retail technology, marketing trends, and omnichannel strategies.

News Articles

• The Wall Street Journal – Retail & Wholesale : This section of the Wall Street Journal features news articles on major retail companies, industry mergers and acquisitions, and the impact of economic factors on the retail sector.
• Reuters Retail : Reuters provides breaking news and analysis on retail companies, consumer spending patterns, and global retail trends.
• Local Business Journals: Many local business journals (e.g https://www.bizjournals.com/ ) have sections dedicated to retail news within their specific metropolitan areas. These can provide valuable insights into consumer trends and local retail developments.

Action Step: Subscribe to newsletters from industry research firms like Nielsen or Euromonitor . Look for government data on the US Census Bureau website or your national statistical office.

Step 5: Analyze Your Findings

Organize your data: Put all your research findings (surveys, reports, observations) in a central location for easy analysis.

Identify trends and patterns: Look for recurring themes across your data sets.

Example: Analyze survey data to see if the price is a major concern for eco-conscious yoga wear consumers. Combine this with industry report data on the growing market for premium eco-friendly clothing.

Step 6:  Present Your Findings and Take Action

Create a clear and concise report: Summarize your research methods, key findings, and actionable insights.

Develop a plan: Based on your research, decide what to stock, how to price products , and how to market your eco-friendly yoga wear line.

Example: Your research might reveal a strong demand for high-quality, ethically sourced yoga wear at a premium price point. This can guide your product selection, marketing message, and in-store presentation.

Pro tip: Actionable insights are easier to arrive at when you have Customer Personas. On Prelaunch, these are AI-developed personas based on the customer profiles that your campaign has provided. Simply put, when potential customers interact with your landing page, they provide clues and insights into the best way to market your product (e.g. what pain points they have, what features really make a difference.)

Based on these insights Prelaunch builds customer personas which give you a clear idea of who and how to target your marketing efforts.

Tools and Resources for Retail Market Research

Retailers today have an array of tools and resources at their disposal to carry out comprehensive market research. From traditional methods to cutting-edge analytics, choosing the right tools can make a significant impact on the quality and efficiency of your research.

Primary Research Methods

Surveys & Questionnaires:   Gather a large pool of data on customer demographics, shopping habits, and brand preferences.

Tools: SurveyMonkey, Typeform, Google Forms

Focus Groups: Conduct guided discussions with a small group of customers to gain deeper insights and understanding of their motivations.

Tools: Prelaunch.com : This concept validation platform is a one-stop-shop for marketers. By creating a landing page with your concept and gauging customer response, you gain real-time insights into demand, iterate on your design based on feedback, and avoid investing heavily in an idea that might flop. This direct interaction with potential customers makes pre-launching a powerful primary research tool.

In-Store Observations: Observe how customers interact with your store or competitor stores. This can reveal product placement issues or areas where customer service can be improved.

Unfortunately, there aren’t many tools that can help optimize this process, which is why it’s imperative to optimize as many primary research methods as possible. (See pro tip above☝)

Secondary Research Methods

Industry Reports: Published by research firms or industry associations, these reports provide valuable data on market size, trends, and competitor analysis.

Resources: Euromonitor , Gartner L2 , IBISWorld

Government Statistics: Government websites often provide demographic and spending data that can be helpful in understanding your target market.

Resources: US Census Bureau , UK Office for National Statistics

Competitor Analysis: Research your competitors’ offerings, pricing strategies, and marketing campaigns.

Tools: Similarweb , SEMrush

Social Media Listening: Monitor online conversations to understand customer sentiment and identify emerging trends.

Tools: Brandwatch , Sprout Social

Additional Resources

Retail Trade Associations: Many retail trade associations offer resources and research specific to your industry segment.

• National Retail Federation (NRF) : The world’s largest retail trade association, offering resources and research on various retail sectors.
• Retail Industry Leaders Association (RILA) : Represents leading retailers in the US, providing insights on public policy, consumer trends, and emerging technologies .
• International Council of Shopping Centers (ICSC) : Focuses on shopping centers and real estate, offering data and reports on shopping center performance and consumer behavior.
• Grocery Manufacturers Association (GMA) : Represents the food, beverage, and consumer product industry, providing insights on consumer trends and purchasing habits in the grocery sector.

News and Publications: Stay up-to-date on industry trends by following relevant publications and news websites.

• Retail Dive : Provides news and analysis on the retail industry, covering trends in e-commerce, omnichannel retailing, and technology.
• Chain Store Age : Offers news and insights for retail executives, covering topics like store operations, marketing, and technology.
• Supermarket News : Focuses on the grocery industry, providing news and analysis on trends, consumer behavior, and supply chain issues.
• Women’s Wear Daily (WWD) : Covers the fashion and beauty industry, offering insights on consumer trends, fashion weeks, and retail strategies.

By combining these tools and resources, you can conduct comprehensive retail market research that empowers you to make strategic decisions and gain a competitive edge.

Case Study: Home Depot Leverages Market Research to Drive In-Store Tech Adoption

Home Depot , a leading home improvement retailer, recognized the growing importance of technology in the customer journey.  However, they needed to understand how customers interacted with technology in-store and how to encourage its adoption.

Research Methods

In-Store Observations: Researchers observed how customers navigated stores, interacted with kiosks and digital signage, and sought assistance from employees.

Customer Surveys: Surveys were conducted to understand customer attitudes towards technology in-store, their preferred ways to access information, and any pain points they encountered.

Focus Groups: Focus groups with DIY enthusiasts explored their comfort level with technology and their ideal in-store tech experience.

Key Findings

Customers were receptive to using technology in-store, especially for tasks like product research, checking inventory, and accessing project guides.

Traditional methods of getting help, like flagging down employees, were still important, but customers appreciated the ability to access information independently through kiosks and digital signage.

There was a gap between customer needs and existing technology offerings. The in-store tech felt clunky and not user-friendly for some customers.

Actions Taken

Improved In-Store Kiosks: Home Depot upgraded their kiosks with a more intuitive interface and a wider range of functionalities, allowing customers to browse products, compare features, and access how-to videos.

Enhanced Digital Signage: Digital signage was revamped to display targeted product information, special promotions, and DIY project inspiration, aligned with the customer’s location in the store.

Employee Training: Employees were trained on the new technology and empowered to guide customers towards using the kiosks and digital signage for a more efficient shopping experience.

Increased Customer Satisfaction: Surveys showed a significant increase in customer satisfaction with the in-store shopping experience, particularly regarding ease of finding information and getting help.

Improved Sales Conversion: Data indicated that customers who interacted with the in-store technology were more likely to purchase.

Enhanced Brand Image: Home Depot positioned itself as a leader in integrating technology to improve the customer experience in the home improvement sector.

Lessons Learned

This case study highlights the importance of market research in understanding customer needs and effectively integrating technology in a traditional retail setting.  By actively listening to their customers, Home Depot identified opportunities to bridge the gap between traditional and digital shopping experiences, ultimately leading to increased customer satisfaction and sales.

Cracking the Code: Overcoming Challenges in Retail Market Research

Retail market research is essential for staying ahead of the curve in this dynamic industry. However, gathering valuable customer insights can be tricky. Here, we explore some common challenges and how to overcome them:

Challenge 1: Capturing Elusive Customers

The Problem: Today’s consumers are busy and have short attention spans. Traditional methods like in-person surveys can have low response rates.

The Solution: Embrace online research tools like Prelaunch.com’s Idea Validation feature . The tool allows you to put together a sharable page that sums up and presents your product to an audience. The process takes less than 10 minutes and lets you capture your idea in a way that’s short, sweet and to the point. Based on how they engage with the page, you’ll be able to know whether your idea is valid or not.

Challenge 2:  Keeping Pace with Change

The Problem: Retail trends evolve rapidly. Research based on outdated data can lead to missed opportunities.

The Solution: Build a culture of continuous research. Conduct regular pulse surveys to track changing preferences and use social listening tools to monitor online conversations about your brand and industry.

Challenge 3:  Omnichannel Mystery

The Problem: The retail journey spans multiple channels – online stores, physical stores, and mobile apps. Understanding customer behavior across these touchpoints can be complex.

The Solution: Employ a mix of research methods. Combine online surveys with website behavior tracking and in-store observation to get a holistic view of the customer experience.

Challenge 4:  Data Overload & Analysis Paralysis

The Problem: With so much data available, it can be overwhelming to analyze it effectively and translate insights into actionable steps.

The Solution: Invest in data analytics tools. These tools can help you categorize, visualize, and identify key trends within your data sets. Focus on creating clear research questions to guide your analysis and prioritize actionable insights.

By understanding these challenges and implementing the suggested solutions, you can ensure your retail market research delivers valuable insights that drive better business decisions and keep your brand at the forefront of the ever-evolving retail landscape.

Retail market research is not a one-size-fits-all endeavor. It requires adaptability, creativity, and a commitment to understanding the intricate interaction between markets and consumers. By following the steps provided in this guide and combining it with the right tools and resources, you can unlock invaluable insights that will drive your retail business forward.

Remember that conducting comprehensive retail market research is an investment, not an expense. It is the foundation upon which successful retail strategies are built. By immersing yourself in the data and understanding the unique characteristics of retail market research, you are taking the first steps towards securing your position in the competitive retail industry.

Emerge as a leader in your segment by harnessing the power of retail market research. Your strategies should not only reflect market realities but should also anticipate and shape them. Take the time to master this critical component of retail, and watch as your business flourishes in response. Happy analyzing!

What is retail market research?

Retail market research is the systematic process of gathering information about the retail industry, specifically focusing on your target market and competitors. It helps you understand what customers want and need, how they shop, and what influences their buying decisions.

Who should conduct retail market research?

Ideally, anyone involved in making strategic decisions for a retail business can benefit from market research. This can include:

• Business Owners and Managers: Gain insights to improve product selection, pricing strategies, marketing campaigns, and overall customer experience.
• Marketing and Sales Teams: Understand customer needs and preferences to develop targeted marketing initiatives and improve sales conversion rates.
• Product Development Teams: Inform product development decisions based on real customer needs and emerging trends.

While some larger companies might have dedicated market research teams, smaller retailers can still conduct valuable research using a mix of free and paid tools and resources.

What types of market research are most appropriate for the retail industry?

Retail market research can leverage various methods, but some are particularly well-suited for the industry:

Primary Research: This involves collecting your own data directly from your target audience.

Examples: Customer surveys and questionnaires to understand shopping habits and preferences. Focus groups to gain deeper insights into customer motivations and product perceptions. In-store observations to analyze customer behavior and identify areas for improvement.

Secondary Research: This involves leveraging existing data collected by others.

Examples: Industry reports on market size, trends, and competitor analysis. Government statistics on demographics and spending habits in your target market. Competitor analysis to understand their offerings, pricing strategies, and marketing tactics. Social media listening to monitor online conversations and identify customer sentiment towards your brand and industry trends.

By combining primary and secondary research methods, retailers can gain a well-rounded understanding of their market and make informed decisions for long-term success.

Alice Ananian

Alice has over 8 years experience as a strong communicator and creative thinker. She enjoys helping companies refine their branding, deepen their values, and reach their intended audiences through language.

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In today's dynamic marketplace, retail businesses face ever-evolving challenges and opportunities driven by shifting consumer preferences, technological advancements, and global economic trends. Retail research serves as a critical tool for understanding market dynamics, identifying growth opportunities, and staying ahead of the competition. In this comprehensive analysis, we delve into the main category of "retail Research," exploring trends, market size, challenges, opportunities, and growth prospects across its diverse subcategories.

Retail research encompasses the study of consumer behavior, market trends, and industry dynamics within the retail sector. It provides insights into various aspects of retailing, including sales channels, product categories, distribution networks, and competitive landscapes. By analyzing market data, consumer insights, and industry trends, retail research helps businesses make informed decisions, optimize strategies, and drive growth in a highly competitive environment.

The main category of "Retail Research" covers a broad spectrum of retail sectors, each with its unique characteristics, challenges, and growth opportunities. From traditional brick-and-mortar stores to the rapidly expanding e-commerce sector, retailers must adapt to changing consumer preferences, technological innovations, and competitive pressures to thrive in today's marketplace. Let's explore each subcategory in detail:

The apparel and footwear industry is characterized by fashion trends, seasonal variations, and evolving consumer preferences. Retailers in this segment must stay attuned to changing styles, preferences, and purchasing behaviors to remain competitive. Key trends include the rise of athleisure wear, sustainable fashion, and online customization options. Challenges include inventory management, supply chain disruptions, and shifting consumer demographics. Opportunities lie in e-commerce expansion, omnichannel retailing, and personalized shopping experiences.

Brick-and-mortar retailing encompasses physical stores operating in various formats, including department stores, supermarkets, and specialty shops. While facing competition from e-commerce, brick-and-mortar retailers leverage advantages such as in-store experiences, immediate gratification, and personal interactions with customers. Trends in this segment include experiential retail concepts, store revitalization efforts, and integration of digital technologies. Challenges include rising operating costs, changing consumer preferences, and foot traffic decline. Opportunities arise from innovative store formats, strategic location planning, and seamless omnichannel integration.

E-commerce has revolutionized retailing by offering convenience, accessibility, and a wide range of product choices to consumers. The e-commerce sector continues to grow rapidly, driven by factors such as smartphone penetration, digital payment adoption, and logistics infrastructure development. Key trends include mobile commerce, social commerce, and artificial intelligence-driven personalization. Challenges include cybersecurity threats, last-mile delivery complexities, and competition from online marketplaces. Opportunities lie in niche market targeting, international expansion, and adoption of advanced technologies like augmented reality for enhanced customer experiences.

The electronics and appliances segment encompasses products ranging from smartphones and laptops to household appliances like refrigerators and washing machines. Consumer demand for the latest technology, energy efficiency, and connectivity drives innovation in this sector. Key trends include smart home devices, 5G adoption, and sustainability initiatives. Challenges include product commoditization, price competition, and supply chain disruptions. Opportunities arise from product innovation, cross-industry collaborations, and expansion into emerging markets with growing middle-class populations.

The food and beverage industry is essential for meeting consumers' basic needs for sustenance and enjoyment. Retailers in this segment must navigate changing dietary preferences, health-conscious trends, and sustainability concerns. Key trends include plant-based alternatives, online grocery shopping, and meal kit subscriptions. Challenges include food safety regulations, perishability issues, and margin pressures. Opportunities lie in premiumization, personalized nutrition offerings, and leveraging technology for supply chain optimization and food traceability.

Home and furniture retailers cater to consumers' needs for home improvement, decor, and furnishing solutions. This segment is influenced by housing trends, interior design preferences, and lifestyle changes. Key trends include minimalist aesthetics, sustainable materials, and smart home integration. Challenges include inventory management complexities, long lead times, and shifting consumer tastes. Opportunities arise from online visualization tools, customization options, and home staging services to enhance the shopping experience.

Luxury and designer brands cater to affluent consumers seeking premium products, exclusivity, and prestige. This segment is characterized by craftsmanship, heritage, and aspirational lifestyles. Key trends include experiential luxury, digital luxury marketing, and sustainability initiatives. Challenges include counterfeit goods, brand dilution, and economic downturns affecting consumer spending. Opportunities lie in emerging luxury markets, personalized luxury experiences, and collaborations with influencers and celebrities to reach new audiences.

Medical devices retailers supply a wide range of healthcare products, including diagnostic equipment, surgical instruments, and patient monitoring devices. This segment is driven by healthcare advancements, aging populations, and increasing healthcare expenditures. Key trends include telemedicine adoption, wearable health devices, and home healthcare solutions. Challenges include regulatory compliance, reimbursement complexities, and competition from online marketplaces. Opportunities arise from innovation in remote patient monitoring, personalized medicine technologies, and direct-to-consumer healthcare solutions.

Specialty retailers focus on niche product categories or target specific consumer segments with unique needs and preferences. This segment includes businesses selling products such as gourmet foods, pet supplies, and outdoor gear. Key trends include experiential retail concepts, subscription box services, and community-driven brand loyalty. Challenges include inventory management, niche market saturation, and online competition. Opportunities lie in product differentiation, curated shopping experiences, and community engagement initiatives to build brand loyalty and attract loyal customer bases.

Sports and leisure retailers cater to consumers' interests in sports equipment, athletic apparel, and outdoor recreation gear. This segment is influenced by fitness trends, lifestyle preferences, and outdoor adventure activities. Key trends include athleisure wear, wellness tourism, and eco-friendly outdoor gear. Challenges include seasonality, weather-dependent sales, and competition from online marketplaces. Opportunities arise from experiential retail activations, brand collaborations with athletes and influencers, and eco-conscious product innovations to meet the growing demand for sustainable and ethical consumer choices.

Retail research provides valuable insights into market trends, consumer behavior, and industry dynamics across a diverse range of retail sectors. From traditional brick-and-mortar stores to the rapidly growing e-commerce landscape, retailers must adapt to changing consumer preferences, technological innovations, and competitive pressures to succeed in today's marketplace. By understanding the unique challenges and opportunities within each subcategory of retail research, businesses can develop strategic initiatives, optimize operations, and capitalize on emerging trends to drive growth and enhance the shopping experience for consumers worldwide.

Market Trends and Growth Prospects:

Shift Towards Omnichannel Retailing: Retailers are increasingly adopting omnichannel retailing strategies to seamlessly integrate their brick-and-mortar stores with online platforms, mobile apps, and social media channels. This trend allows retailers to provide a cohesive shopping experience across multiple touchpoints, catering to the preferences of omnichannel shoppers who expect convenience, personalization, and flexibility in their shopping journey.

Rise of Sustainable and Ethical Retailing: Consumers are becoming more conscious of the environmental and social impact of their purchasing decisions, driving demand for sustainable and ethically sourced products. Retailers are responding by incorporating sustainable practices into their supply chains, offering eco-friendly product options, and transparently communicating their commitment to corporate social responsibility (CSR) initiatives.

Personalized Shopping Experiences: Personalization has emerged as a key strategy for retailers to enhance customer engagement, loyalty, and conversion rates. By leveraging data analytics, artificial intelligence (AI), and machine learning algorithms, retailers can analyze customer preferences, purchase history, and browsing behavior to deliver personalized product recommendations, targeted promotions, and customized shopping experiences tailored to individual tastes and preferences.

Rapid Growth of Mobile Commerce: The proliferation of smartphones and mobile devices has fueled the growth of mobile commerce, enabling consumers to shop anytime, anywhere, and on any device. Retailers are optimizing their websites and mobile apps for mobile browsing, streamlining the checkout process, and implementing mobile payment options to cater to the increasing number of mobile shoppers.

Expansion of Direct-to-Consumer (DTC) Brands: Direct-to-consumer (DTC) brands are disrupting traditional retail models by bypassing intermediaries and selling directly to consumers through online channels, social media platforms, and pop-up stores. These digitally native brands offer unique product offerings, compelling brand narratives, and direct communication with customers, allowing them to build loyal fan bases and capture market share in competitive retail segments.

Challenges and Opportunities:

Competition from Online Marketplaces: Brick-and-mortar retailers face intense competition from online marketplaces such as Amazon, eBay, and Alibaba, which offer a vast selection of products, competitive pricing, and convenient shopping experiences. To compete effectively, brick-and-mortar retailers must differentiate themselves through unique value propositions, personalized services, and immersive in-store experiences that cannot be replicated online.

Supply Chain Disruptions: Retailers are vulnerable to supply chain disruptions caused by factors such as natural disasters, geopolitical tensions, and global pandemics, as witnessed during the COVID-19 pandemic. To mitigate supply chain risks, retailers are diversifying their sourcing strategies, strengthening supplier relationships, and implementing agile supply chain management practices that enable rapid response to unforeseen disruptions and changes in demand.

Data Privacy and Security Concerns: With the increasing collection and utilization of customer data for personalized marketing and analytics purposes, retailers must prioritize data privacy and security to maintain consumer trust and comply with regulatory requirements such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). Implementing robust data protection measures, transparent privacy policies, and secure payment systems is essential to safeguarding customer information and mitigating the risk of data breaches and cyberattacks.

Changing Consumer Preferences: Retailers must stay attuned to shifting consumer preferences, lifestyle changes, and socio-cultural trends that influence purchasing decisions. Adapting product assortments, marketing strategies, and store layouts to align with evolving consumer tastes and preferences allows retailers to remain relevant and appeal to diverse demographic segments.

Rising Operational Costs: Retailers face pressure from rising operational costs, including rent, labor, and utilities, which impact profit margins and competitiveness. Implementing cost-saving measures, optimizing store layouts, and leveraging technology to streamline operations and improve efficiency can help retailers reduce overhead expenses and enhance profitability in a challenging economic environment.

The retail industry is undergoing rapid transformation driven by technological advancements, changing consumer behaviors, and competitive pressures. Retail research provides valuable insights into market trends, consumer preferences, and industry dynamics that enable retailers to adapt their strategies, optimize operations, and capitalize on growth opportunities. 

By embracing omnichannel retailing, sustainability initiatives, and personalized shopping experiences, retailers can enhance customer engagement, loyalty, and long-term profitability in a dynamic and evolving marketplace. Despite challenges such as competition from online marketplaces, supply chain disruptions, and rising operational costs, retailers that innovate, adapt, and prioritize customer-centric strategies are well-positioned to thrive and succeed in the ever-changing retail landscape.

Now, let's delve deeper into each of the submarket research categories within the broader domain of "Retail Research." Each subcategory presents unique challenges and opportunities, influenced by consumer preferences, technological innovations, and industry trends.

Apparel & Footwear: The apparel and footwear submarket is characterized by fashion trends, seasonal variations, and changing consumer preferences. Retailers in this segment must navigate fast-paced fashion cycles, inventory management challenges, and competitive pricing pressures. However, opportunities lie in leveraging data analytics for trend forecasting, enhancing online and mobile shopping experiences, and embracing sustainable fashion practices to appeal to environmentally conscious consumers.

Brick-and-Mortar: Brick-and-mortar retailing remains a cornerstone of the retail industry, offering tangible shopping experiences, instant gratification, and personalized customer service. While facing competition from e-commerce, brick-and-mortar retailers can differentiate themselves by curating unique in-store experiences, optimizing store layouts for enhanced engagement, and integrating digital technologies such as interactive displays and self-checkout systems to streamline operations and improve customer satisfaction.

E-Commerce: E-commerce continues to reshape the retail landscape, offering convenience, accessibility, and a wide range of product choices to consumers worldwide. Retailers operating in the e-commerce space must focus on enhancing website usability, optimizing search engine visibility, and providing seamless checkout experiences to drive conversions and retain customers. Additionally, leveraging data analytics for personalized product recommendations, targeted promotions, and dynamic pricing strategies can help e-commerce retailers gain a competitive edge in a crowded marketplace.

Electronics & Appliances: The electronics and appliances submarket is driven by technological advancements, product innovation, and evolving consumer lifestyles. Retailers in this segment must stay abreast of emerging technologies such as artificial intelligence, virtual reality, and smart home automation to meet consumer demand for connected devices and enhanced functionality. Offering product demonstrations, expert advice, and after-sales support services can further differentiate electronics and appliance retailers and foster customer loyalty.

Food & Beverage: The food and beverage industry encompasses grocery stores, specialty food retailers, and gourmet food markets catering to diverse culinary preferences and dietary needs. Retailers in this segment must focus on product freshness, quality, and selection to attract discerning consumers. Moreover, opportunities exist in expanding online grocery delivery services, offering meal kit subscriptions, and introducing private-label and premium food products to capitalize on evolving consumer tastes and preferences.

Home & Furniture: Home and furniture retailers cater to consumers' needs for home decor, furnishings, and interior design solutions. This submarket is influenced by housing trends, lifestyle changes, and home improvement projects. Retailers can differentiate themselves by offering personalized design consultations, virtual room visualization tools, and customizable furniture options. Moreover, embracing sustainable materials, eco-friendly manufacturing practices, and circular economy principles can appeal to environmentally conscious consumers seeking sustainable home furnishings.

Luxury & Designer: Luxury and designer brands cater to affluent consumers seeking premium products, exclusivity, and superior craftsmanship. Retailers in this segment must focus on delivering exceptional customer experiences, cultivating brand prestige, and maintaining brand integrity to justify premium pricing and differentiate themselves from mass-market competitors. Additionally, opportunities exist in expanding into emerging luxury markets, enhancing online luxury shopping experiences, and leveraging social media influencers to reach new audiences and drive brand engagement.

Medical Devices: The medical devices submarket encompasses retailers supplying healthcare products such as diagnostic equipment, medical instruments, and patient monitoring devices. Retailers must navigate regulatory compliance requirements, ensure product quality and safety, and provide training and support services to healthcare professionals. Moreover, opportunities exist in expanding product portfolios to include telemedicine equipment, remote patient monitoring devices, and home healthcare solutions to meet the growing demand for personalized and accessible healthcare services.

Specialty Retail: Specialty retailers focus on niche product categories or target specific consumer segments with unique needs and preferences. This submarket includes businesses selling products such as gourmet foods, pet supplies, and outdoor gear. Retailers can differentiate themselves by offering expert product knowledge, personalized shopping experiences, and curated selections tailored to niche markets. Additionally, opportunities exist in expanding online presence, collaborating with influencers, and creating exclusive product partnerships to attract loyal customer bases and drive sales growth.

Sports & Leisure: The sports and leisure submarket caters to consumers' interests in sports equipment, athletic apparel, and outdoor recreation gear. Retailers must stay abreast of fitness trends, outdoor activities, and health and wellness preferences to meet consumer demand effectively. Opportunities exist in offering personalized fitness consultations, organizing community events, and partnering with fitness influencers to promote active lifestyles and drive brand engagement. Additionally, expanding product assortments to include sustainable and eco-friendly options can appeal to environmentally conscious consumers seeking ethical and responsible outdoor gear.

The retail research landscape encompasses a diverse array of submarket categories, each presenting unique challenges and opportunities for retailers. By understanding consumer preferences, industry trends, and competitive dynamics within each subcategory, retailers can develop tailored strategies, optimize operations, and capitalize on growth opportunities to drive success in a rapidly evolving retail environment. Moreover, leveraging data analytics, digital technologies, and personalized customer experiences can help retailers stay ahead of the competition and deliver value to consumers in an increasingly competitive marketplace.

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According to Verified Market Research, The Global Costume Jewelry Market size was valued at USD 43.01 Billion in 2024 and is projected to reach USD 69.59 Billion by 2031,  growing at a  CAGR of 6.20% from 2024 to 2031.

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According to Verified Market Research, The Global Golf Training Aids Market was valued at USD 4.8 Billion in 2024 and is projected to reach USD 8.4 Billion by 2031, growing at a CAGR of 6.7% during the forecast period 2024-2031.

Luggage Storage Locker Market

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According to Verified Market Research, The Global Luxury Cell Phone Market was valued at USD 35.1 Billion in 2023 and is projected to reach USD 92.2 Billion by 2031, growing at a CAGR of 12.3% during the forecast period 2024-2031.

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According to Verified Market Research, The Global Grocery Delivery Software Market size was valued at USD 4.98 Billion in 2024 and is projected to reach USD 13.97 Billion by 2031, growing at a CAGR of 13.8% during the forecasted period 2024 to 2031.

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According to Verified Market Research, The Global Leather Chair Market was valued at USD 10.97 Billion in 2023 and is projected to reach USD 15.48 Billion by 2031, growing at a CAGR of 4.4% during the forecast period 2024-2031.

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According to Verified Market Research, The Global Adult Education Market was valued at USD 37.34 Billion in 2024 and is projected to reach USD 717.15 Billion by 2031 , growing at a  CAGR of 8.5% from 2024 to 2031.

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Global Quick Service Restaurant (QSR) IT Market Size By Solution Type, By Deployment Model, By End-User Device, By Geographic Scope And Forecast

According to Verified Market Research, The Global Quick Service Restaurant (QSR) IT Market is valued at USD 15447.23 Million in 2024 and is projected to reach USD 30464.73 Million by 2031, growing at a CAGR of 8.86% during the forecast period 2024-2031.

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Sis retail market research provides depth of insight on how consumers interact in retail environments., through store & street intercepts, shop alongs, ethnographic research and other methods, this research can provide detailed insight to help companies develop effective marketplaces., our retail market research provides insight into:.

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Retailing Industry Research & Market Reports

Refine your search, global consumer healthcare market size study, by product (otc pharmaceuticals, dietary supplements), by distribution channel (offline, online), and regional forecasts 2022-2032.

Sep 26, 2024  |  Published by: Bizwit Research & Consulting  |  USD 4,950

... and is anticipated to expand at a robust CAGR of 6.78% over the forecast period from 2024 to 2032. Consumer healthcare plays a pivotal role in empowering individuals to manage their health and well-being through ... Read More

Home Furnishings Stores

Sep 23, 2024  |  Published by: First Research, Inc.  |  USD 129

... US companies include At Home, Bed Bath & Beyond, Pier 1, RH (formerly Restoration Hardware), and Williams-Sonoma. COMPETITIVE LANDSCAPE Demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and ... Read More

Digital Pharmacy Global Market Report 2024 Including: 1) By Product: Medicines And Treatments; Personal Care Products; Vitamins And Supplements 2) By Drug Type: Prescription Medicines; Over-The-Counter (OTC) Products 3) By Business Model: Captive; Franchise; Aggregator 4) By Platform: App-Based; Web-Based 5) By Application: Urban Areas; Rural Areas Covering: Walmart Inc. ; Amazon.com Inc.; MetLife Inc.; Omnicell (OMCL) Inc.; Hims & Hers Health Inc.

Sep 23, 2024  |  Published by: The Business Research Company  |  USD 5,000

... Platform: App-Based; Web-Based5) By Application: Urban Areas; Rural AreasCovering: Walmart Inc. ; Amazon.com Inc.; MetLife Inc.; Omnicell (OMCL) Inc.; Hims & Hers Health Inc. Digital Pharmacy Global Market Report 2024 from The Business Research Company ... Read More

Convenience Stores & Truck Stops

... American subsidiary of Seven-Eleven Japan), Casey's, Circle K (a division of Canada-based Couche-Tard), and Wawa. COMPETITIVE LANDSCAPE Consumer and commercial driving trends drive demand. The profitability of individual stores depends on competitive pricing, effective merchandising, ... Read More

Where Consumers Shop for Apparel and Footwear

Sep 19, 2024  |  Published by: Euromonitor International  |  USD 1,450

... performances by region, category and channels. E-commerce is anticipated to outperform offline channels, but these remain crucial due to the unique advantages of physical spaces. Market players are thus building their omnichannel capabilities and investing ... Read More

Bath & Body Works, Inc. (BBWI:NYSE) Strategic SWOT, PESTLE Analysis and Financial Insights - A 360° Review of Opportunities, Challenges and Risk, Corporate and ESG Strategies, Competitive Intelligence, Financial and Operational KPI’s, and Recent Trends

Sep 19, 2024  |  Published by: Quaintel Research  |  USD 175

... Trends Report Summary Bath & Body Works, Inc. (BBWI:NYSE) Strategic SWOT, PESTLE Analysis and Financial Insights - A 360° Review of Opportunities, Challenges and Risk, Corporate and ESG Strategies, Competitive Intelligence, Financial and Operational KPI’s, ... Read More

El Corte Ingles SA - Strategic SWOT, PESTLE and Value Chain Analysis - A 360° Review of Opportunities, Challenges and Risk, Corporate and ESG Strategies, Competitive Intelligence, and Recent Trends

Sep 19, 2024  |  Published by: Quaintel Research  |  USD 225

... Ingles SA - Strategic SWOT, PESTLE and Value Chain Analysis - A 360° Review of Opportunities, Challenges and Risk, Corporate and ESG Strategies, Competitive Intelligence, and Recent Trends Report is a comprehensive and easily accessible ... Read More

Sale, Maintenance and Repair of Motor Vehicles, Retail Sale of Automotive Fuel in the United Kingdom: ISIC 50

Sep 19, 2024  |  Published by: Euromonitor International  |  USD 175

... offers a comprehensive guide to the size and shape of the Sale, Maintenance and Repair of Motor Vehicles, Retail Sale of Automotive Fuel: ISIC 50 market at a national level. It provides the latest retail ... Read More

Retail in the United Kingdom: ISIC 52

... Retail: ISIC 52 market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis ... Read More

The US Functional Drinks Market: Analysis By Type (Energy Drinks, Sports Drinks, and Nutraceutical Drinks), By Distribution Channel (Supermarket & Hypermarket, Specialty Stores, Online, and Others), Size and Trends with Impact of COVID-19 and Forecast up to 2029

Sep 18, 2024  |  Published by: Daedal Research  |  USD 2,250

... Forecast up to 2029 - Report Summary Report Metrics Details Years Considered 2019-2029 Base Year 2023 Forecast Period 2024-2029 Page Count 93 Units Referenced US$, Billion Liters Segments/Key Topics By Type, By Distribution Channel Regions ... Read More

Embedded Insurance Market Size & Share Analysis - Growth Trends & Forecast (2024-2029)

Sep 17, 2024  |  Published by: Mordor Intelligence Inc  |  USD 4,750

... 2024 to USD 703.44 billion by 2029, at a CAGR of 35.14% during the forecast period (2024-2029). The embedded insurance market is gaining traction due to several factors. First, it has offered a way to ... Read More

Self-Checkout System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

... 9.75 billion by 2029, growing at a CAGR of 13.68% during the forecast period (2024-2029). Self-checking systems are increasingly gaining momentum in the retail sector as self-checkout facilities usher in a new era of contactless ... Read More

Beyond Grocery Retail: Amazon's Just Walk Out Technology Expands to New Segments

Sep 17, 2024  |  Published by: IDC  |  USD 1,500

... and semi-captive environments such as hospitals, highlighting its efficiency in streamlining the shopping experience. Through a deep dive into recent Just Walk Out deployments and insights from Amazon's London event, the note discusses the technology's ... Read More

Nonstore Retail

Sep 16, 2024  |  Published by: First Research, Inc.  |  USD 129

... Amazon, eBay, HSN, Newegg, and QVC as well as Alibaba Group (China), Argos and ASOS (UK), JD.com (China), MercadoLibre (Argentina), and Otto Group (Germany. COMPETITIVE LANDSCAPE Demand is driven by consumers’ personal income. The profitability ... Read More

Paint & Wallpaper Stores

... Sherwin-Williams (all based in the US), as well as Farrow & Ball (UK), Inspirations Paint (Australia), and Nakashima Shokai (Japan). COMPETITIVE LANDSCAPE Home maintenance, home sales, and construction and remodeling trends drive demand. The profitability ... Read More

Gas Stations

... oil companies own few retail fueling outlets, many gas stations contract to sell specific brands of fuel. COMPETITIVE LANDSCAPE Demand depends on the volume of consumer and commercial driving. The profitability of individual companies depends ... Read More

Drug Stores

... include CVS Health, Rite Aid, and Walgreens (all based in the US), along with AS Watson Group (Hong Kong), Boots (UK), China Nepstar (China), Dm-Drogerie Markt and Rossmann (both based in Germany), Jean Coutu and ... Read More

Warehouse Clubs & Superstores

... sold in large quantities. Major companies include BJ's Wholesale Club, Costco Wholesale, Meijer, Sam's Club (all based in the US), as well as Carrefour (France), Metro (Germany), and Tesco (UK). COMPETITIVE LANDSCAPE Demographics and small ... Read More

Home Centers & Hardware Stores

... Menards, and True Value (all based in the US), as well as Kingfisher (UK), Leroy Merlin (France), OBI (Germany), and RONA (Canada). COMPETITIVE LANDSCAPE Home remodeling and repair and new homebuilding drive demand. The profitability ... Read More

Dollar & Other General Merchandise Stores

... and Dollar Tree (both based in the US), along with Dollarama (Canada) and Poundland Group (UK). COMPETITIVE LANDSCAPE Demand is driven by consumer spending, particularly among less affluent consumers, as most companies target the lower- ... Read More

Retail Reinvention in the Age of AI Everywhere: From Omni-Channel to Future-Forward, Autonomous, and Resilient

Sep 16, 2024  |  Published by: IDC  |  USD 7,500

... mobile everywhere to the current pivot to AI/generative AI (GenAI), intelligent cloud/edge computing, and AI-powered business. Valuable advice and guidance are provided regarding the critical AI/GenAI use cases and how to start the journey to ... Read More

2024 China Airport Duty Free Liquor Forecast (2025-2030 Outlook)-High Tech Outlook Report

Sep 15, 2024  |  Published by: Barnes Reports  |  USD 950

... within the Aerospace Vehicle Mfg. industry. The global market is expected to increase from USD xx billion in 2025 to USD xx billion by 2030, at a CAGR of xx% from 2025 to 2030. Estimates ... Read More

2024 Japan Airport Duty Free Liquor Forecast (2025-2030 Outlook)-High Tech Outlook Report

2024 germany airport duty free liquor forecast (2025-2030 outlook)-high tech outlook report, 2024 united states airport duty free liquor forecast (2025-2030 outlook)-high tech outlook report.

... is within the Aerospace Vehicle Mfg. industry. The global market is expected to increase from USD xx billion in 2025 to USD xx billion by 2030, at a CAGR of xx% from 2025 to 2030. ... Read More

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U.S. Retailer Industry Foot Traffic Analysis | August 2024

Colliers Retail Market Intelligence

August saw steady growth with a 2.5% sales rise and a 4.9% increase in foot traffic. An early Halloween start gave a slight boost, as retailers capitalized on consumers' eagerness to spend.

Grocery sales grew by 1.5% in volume, driven by promotions, while many lower-income households traded down to value retailers, reflected in a modest 0.1% rise in store visits.

Apparel sales grew by 2.5%, with store visits up 3.6%, driven by back-to-school shopping and discounts. Full-price sales remain weak, highlighting continued consumer caution.

Home-related sectors struggled, with store visits down 5.8%. Home improvement sales fell 2.2%, and furnishings saw just 0.2% growth, impacted by fewer home moves and high financing costs.

Related Experts

Nicole Larson

Manager, National Retail Research

Fort Lauderdale

As the National Research Manager for Retail Services, Nicole is responsible for studying conditions within the retail sector, collecting and reporting statistical data, and analyzing the data to identify significant trends and opportunities. Based in South Florida, she partners with national and local teams across the United States to deliver market intelligence initiatives to drive national competitive advantage through research strategy, development, and analytics.

Nicole has been in the commercial real estate industry since 2014, is bilingual in Spanish, and holds a Florida Real Estate Associate License. Enthusiastic about exploring the dynamic realms of the retail industry, she enjoys continual learning, seamlessly blending curiosity and enjoyment in every pursuit.

Anjee Solanki

National Director, Retail Services & Practice Groups

San Francisco

AREA OF EXPERTISE

Anjee leads over 500 retail professionals and 19 Speciality Practice Groups across 156 offices nationwide, providing strategic leadership in investment sales, agency, retailer representation, and asset repositioning advisory services.  With 30+ years of specialized real estate experience internationally, Anjee excels in identifying market and property inefficiencies to unlock untapped value through asset repositioning, releasing, and redevelopment. She is adept in various retail formats, including lifestyle, community, power centers, neighborhood, mixed-use retail/residential, and resort retail. Anjee’s creative problem-solving skills make her a valued stakeholder among national and international retailers such as Nestle, Miniso, Harley Davidson, and Opry City Stage/Ole Red. Her client-first approach minimizes risk and delivers comprehensive strategies for clients. She has cultivated strong relationships with institutional and private clients, including the State of Florida, Heitman, Invesco, Grosvenor Americas, Clarion, and Nuveen.

Anjee is also focused on integrating technology in commercial real estate, leveraging data alongside local brokerage insights to drive success.

BUSINESS BACKGROUND

Previously, Anjee served as Executive Vice President, Retail Services for Madison Marquette. She successfully assisted with repositioning community centers to lifestyle projects and identified opportunities to create value, resulting in higher returns for her clients. She also provided strategic analyses on complex redevelopment projects to address each asset’s financial stabilization and/or every client’s exit strategy.

BLOG/PODCAST/REPORTS

As the company’s lead executive overseeing Colliers’ renowned retail and 19 practice groups, Anjee handles elite teams of top industry experts and can provide world-class expertise regarding all sectors and specialties that they serve. Due to Anjee’s strong interest in retail, she is particularly well-positioned as a retail expert. She’s qualified to explain future shoppers, whose trends constantly evolve and influence the retail landscape — testing the resilience of retailers, landlords and developers. Read her Blog at: https://knowledge- leader.colliers.com/author/anjee-solankiRead her Blog at:  https://knowledge-leader.colliers.com/author/anjee-solanki 

COMMUNITY INVOLVEMENT

Anjee is originally from Southern California and currently resides in San Francisco. She served as a Board Trustee with IYISF and was involved in the Rincon Hill neighborhood residential improvement group, which participated in the public review of the highly visible Salesforce Transit Center. 

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Appriss Retail Research: 55% of Consumers Have Avoided Purchasing From a Retailer Due to Return Policy Restrictions

New research explores the importance of returns for customer loyalty and how retailers can strengthen relationships while mitigating return fraud..

Appriss Retail, a leading provider of data and analytics solutions designed to reduce retail losses, decrease returns and claims fraud and abuse, and provide a more seamless consumer experience, today announced the release of a new report in partnership with Retail Dive, “ How Important Are Returns to Customers ?” that explores how retailers are contending with returns, the impact of returns on consumers’ shopping decisions, and how retailers’ return policies are holding them back.

With original research driven by Retail Dive surveys of 150 retail executives and 1,000+ North American consumers, the report shines a spotlight on the problems returns fraud poses for retailers and the efforts they are taking to address it. In fact, the report found that 84% of retailers have made changes to their returns policies to decrease returns fraud within the last year.

By focusing on adjusting their policies, however, retailers are putting customer satisfaction and retention at risk. The Appriss Retail research found:

• 55% of consumers report that they have decided not to buy from retailers or ecommerce stores due to the restrictions of their return policies.
• 36% of consumers report that they have had at least one negative return experience.
• 31% of consumers report that they have stopped shopping at certain retailers or ecommerce stores due to negative return experiences.

Despite this, retailers believe they are getting returns right — with 99% of retail executives respondents saying that their consumers are satisfied with their return experiences.

“Making a policy too strict can have consequences that really hurt retailers,” says Pedro Ramos, Chief Revenue Officer at Appriss Retail. “Take a 'no receipt, no return' policy — while it may deter fraud, it can also alienate loyal, high-value customers. That's why Appriss Retail’s AI-powered solutions offer retailers protection from returns abuse by delivering unbiased, real-time recommendations. By analyzing a consumer’s return history, we help retailers make smarter decisions on returns, claims, and appeasements — without jeopardizing consumer relationships.”

Claims and appeasements fraud — which occurs when shoppers file fraudulent claims that purchased items were damaged, defective, or not received, in order to receive credits or cash back from retailers — is a rising problem area. According to  2023 research from Appriss Retail, retailers spend between $21 billion and $35 billion on claims and appeasements alone — of which $2.2 billion to $3.7 billion is fraudulent (10.5%).

Other common types of returns fraud or abuse reported by retailers include returns using counterfeit receipts or e-receipts (48%), bracketing or customers buying items in multiple sizes/colors with the intention of returning some (47%), and employee returns fraud and/or collusion with external sources (39%).

By using AI-driven technology to tailor returns experiences based on their unique shopping histories, retailers can drastically reduce returns fraud while also facilitating more positive returns experiences. In the Appriss Retail study, nearly 90% of consumers report they would be more likely to make additional purchases from certain retailers or ecommerce stores if they were to have a positive returns experience with those brands.

The full Appriss Retail research report provides retailers with expert insights into driving down fraud and abuse without compromising consumer satisfaction. 

Read the complete report:  How Important Are Returns to Customers?

Appriss Retail   provides retailers with protection against fraud and abuse for every transaction, no matter where it happens. With more than 20 years of retail data science expertise and experience, we’ve built a collective, omnichannel intelligence platform that is trusted by over 60 of the top 100 U.S. retailers, covering one-third of all U.S. omnichannel sales across 150,000 locations. Globally, Appriss Retail reaches 45 countries across six continents. The company provides relevant, actionable, and profitable collective intelligence to retail operations, finance, marketing, and loss prevention teams. Appriss Retail’s performance-improvement solutions yield measurable results with a significant return on investment. For more information about Appriss Retail, visit  apprissretail.com  or our  LinkedIn page .

You're reading a free article with opinions that may differ from The Motley Fool's Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Prediction: Eli Lilly Will Dominate the Billion-Dollar Weight Loss Drug Market for This Key Reason

• Eli Lilly’s two weight loss drugs have become blockbusters, bringing in more than $1 billion in annual revenue.
• Demand is growing in this market, but so is competition.
• Motley Fool Issues Rare “All In” Buy Alert

Eli Lilly is focusing on research and manufacturing.

Eli Lilly ( LLY -3.47% ) is a leader in one of the pharmaceutical industry's highest-growth markets: weight loss drugs. This market may increase by 16x from today's size to reach $100 billion by the end of the decade, according to Goldman Sachs Research. And right now, Lilly's two drugs prescribed for weight loss patients -- Mounjaro and Zepbound -- are bringing in billions of dollars in revenue .

But Lilly isn't alone in the market, and in the coming years, this space could become more crowded. Today, Lilly competes with Novo Nordisk , and in the future, companies like biotech giant Amgen and smaller biotech Viking Therapeutics to big pharma company Pfizer could enter the market with rival products.

These players, as well as many others, are studying candidates in clinical trials right now. But my prediction is that even when stronger competition is present, Lilly will continue to dominate this billion-dollar market -- and for one key reason.

Image source: Getty Images.

Mounjaro and Zepbound

First, let's take a quick look at why Lilly's drugs and others of the same class are so popular. Mounjaro and Zepbound are the same drug -- tirzepatide -- but Mounjaro is officially approved for type 2 diabetes, while Zepbound is approved for weight loss. However, doctors have prescribed them both to patients trying to lose weight.

There are a couple of reasons for this: Mounjaro was commercialized first, so for a time, it was the only option from Lilly. And drug shortages have been frequent, so doctors and patients had to go with whatever was available.

Mounjaro and Zepbound are dual GIP and GLP-1 receptor agonists -- they act on two hormones involved in controlling blood sugar levels and appetite. Novo Nordisk makes similar drugs, but they stimulate only the GLP-1 pathway instead of the two, like Lilly's drugs.

In any case, both have produced great results in clinical trials and the real world, and that's why doctors and patients have created demand that has surpassed supply at certain times. Since the shortages, Lilly and Novo Nordisk have taken steps to increase production -- and Lilly has invested $18 billion in manufacturing since 2020 to address the problem and generally strengthen its production abilities.

Now let's move on to my prediction. I think Lilly will dominate this market over the long term despite competition, thanks to its late-stage pipeline. Though others are working on similar drugs in pill form (today's GLP-1 drugs and dual GIP/GLP-1 drugs are injectables) -- Lilly is a step ahead of them all from a timeline perspective.

Two potential weight loss drugs on the horizon

Today, Lilly's orforglipron, a GLP-1 receptor agonist in pill form, is in phase 3 studies. The company also has another candidate in phase 3 -- an injectable called retatrutide. This potential drug could provide superior performance to today's treatments since it acts on three hormones: GIP, GLP-1, and glucagon.

With orforglipron, Lilly may offer patients the convenience of a pill rather than an injection. With retatrutide, Lilly offers the possibility of even stronger efficacy than what we've seen from today's drugs in the same class.

On top of this, Lilly has the first-mover advantage from a marketing and production perspective. Doctors and patients already are familiar with Mounjaro and Zepbound, and if they've had good experiences with those drugs, they may opt for another Lilly treatment. Newer patients may be more willing to go for Lilly's drugs after hearing so many success stories about them in the media.

As for production, as mentioned above, Lilly has been investing in more and more capabilities for quite some time. A newer entrant to the market will need time to ramp up production, distribute its product, and win over doctors and patients.

All of this means I'm optimistic about Lilly's future in this market, even as competition grows. I predict that this pharma giant will continue to hold onto its lead -- and that's great news for investors who get in on the shares today and stick with this story for the long term.

Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group and Pfizer. The Motley Fool recommends Amgen and Novo Nordisk. The Motley Fool has a disclosure policy .

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Corporate Traveler and GBTA Release Market Research and Trends Report, Comprehensive Study Examining the SME Business Travel Landscape in the U.S.

Traveler safety revealed as the top priority for business travelers, while rising travel costs serve as the biggest pain point, according to new report analyzing the small and midsize enterprise (SME) travel industry

Corporate Traveler, the flagship SME corporate travel division of Flight Centre Travel Group, and the Global Business Travel Association ( GBTA ), the world’s premier business travel trade organization, announce the release of a new joint research report which offers a detailed look into the key trends, insights, and behaviors that are shaping the small and midsize enterprise (SME) business travel market in the United States. The in-depth study features findings from a survey that includes responses from nearly 300 business travelers from U.S.-based SMEs across the country, providing a thorough representation of the current state of the industry. The survey revealed the top priorities and biggest challenges for companies when it comes to business travel, the most important factors when evaluating a travel management company (TMC), and more. According to the results, it was determined that traveler safety (40%) is the number one priority for companies , followed by cost savings (19%), and traveler experience and technology integration (each at 11%). Policy compliance (8%), along with reporting and sustainability (each at 5%), rounded out the top five. A deeper analysis even showed that traveler safety was listed in the top three by 69% of respondents, while cost savings was listed in the top three by 57% of respondents, further indicating the importance of these priorities in today’s changing business travel environment. “At Corporate Traveler, we always pride ourselves on our ability to keep our finger on the pulse of the industry, which helps us best meet the needs of our clients,” said John Van den Heuvel, President, Corporate Traveler USA. “So, as the business travel world continues to evolve, we’re pleased to have worked with GBTA to develop this report, which reflects the true voice of today’s business traveler and the SME community across the country.” “Our personalized approach and commitment to innovation truly sets us apart, allowing us to devise tailored travel management solutions designed to meet a company’s objectives, whether it’s placing a greater emphasis on traveler safety, identifying opportunities for cost savings, or strategically enhancing our technology offerings,” Van den Heuvel added. “We believe the findings outlined in the survey will now provide companies with similar actionable insights to successfully navigate the shifts in the industry, while also enabling them to flourish and drive their business forward.” Suzanne Neufang, CEO for GBTA said, “This research conducted by GBTA and Corporate Traveler addresses the increasing challenges faced by SMEs in managing their business travel programs. Underscoring the importance of traveler safety, cost savings and increased efficiencies, these insights will help inform companies as they seek innovative strategies to navigate these complexities.” The survey revealed that the biggest pain point, by a significant margin, is the cost of travel (63%) as companies deal with rising travel costs. Other issues associated with business travel include understanding the ROI and measuring success (38%), employee traveler tracking (37%), manual processes (37%), and the lack of data/reporting (35%).

Some other highlights of the survey include:

• Since spending on business travel remains a significant cost for SMEs, companies are testing out various strategies that can help achieve cost savings. Two-thirds of companies are implementing budget-friendly options (65%), while more than half of companies are working with travel management solutions (52%). Additional strategies include revising and reinforcing policy adherence (43%), negotiating lower vendor contracts (42%), or reducing employee travel (35%).
• Despite this increased focus on cost savings, there are still internal and external factors that companies encounter that make implementing these budget-friendly options a bit more difficult. Travel to expensive/high-cost areas (57%) is the most common obstacle , followed by employee behavior (45%), as some employees prioritize comfort or convenience over savings when on the road. Add-ons and extra fees (40%), such as checked bags, priority boarding, or hotel room services, often pose a challenge as well.
• With the continued shift in the way travel is being approached, the majority of survey respondents indicate that their company is currently evaluating a TMC (71%), with the availability of travel (86%) being the most important factor when making this decision, followed by customer service (84%) and value/cost savings (82%). The biggest challenge for companies when evaluating a TMC is balancing fees and value (67%), followed by the issue in demonstrating ROI (50%), and identifying the right evaluation criteria (45%).

For more information and to view the report, please visit here . *The survey was conducted online between June 17, 2024 to June 20, 2024. The target respondents were business travel decision-makers at U.S.-based SMEs across the country, including administrative and executive assistants, HR personnel, C-suite executives, and company travel managers. All regions of the U.S. were represented in the survey. A random sample of 299 responses were obtained.

About Corporate Traveler : Corporate Traveler is the flagship SME corporate travel division of Flight Centre Travel Group, operating in six global markets. Established in 1993 as Flight Centre Travel Group’s first corporate brand, the award-winning business travel management and solutions provider offers its personalized service, expert tailored advice, dedicated travel consultants, and advanced booking technology to over 16,000 business customers globally. Offering an all-in-one innovative booking platform with the support of a personal travel consultant, Corporate Traveler makes travel simpler, faster, and easier for businesses. With a wide range of solutions available, Corporate Traveler can cater for simple requirements through to the most complex SME business travel management needs. For more information or to book a business consultation, visit corporatetraveler.us .

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