Switch on growth and the future of consumption
By J. Walker Smith, chief knowledge officer, Brand & Marketing at Kantar Consulting
Live large – Carry little means a future in which, increasingly, ownership is disconnected from consumption. Consumers no longer take it for granted that ownership is part and parcel of consumption. Consumers want to continue to live large with big ambitions and aspirations, but they want to carry little while doing so.
As ESOMAR marks its 70th anniversary, we are using our annual appraisal of the industry’s performance to look behind the headline growth figures at the forces that have shaped – and are shaping – both the work we do and the reasons we do it.
The GMR shows that global market research revenue grew by 1.8% in 2016, taking total global turnover to US$45.442 billion.
Confronting the crisis of the middle-sized market research firms
By Simon Chadwick
Between 2005 and 2015, the traditional market research industry posted a Cumulative Average Growth Rate of (CAGR) of 3.82%. Organically, the larger companies kept pace with a CAGR of 3.6%, feeding their actual (i.e. organic and non-organic) growth with a spate of acquisitions from the middle and smaller ranks of their competitors. Smaller firms (US$ 10 million – US$ 30 million annual revenues) saw an attrition rate in their ranks of one third over the decade, some being acquired but many selling off their assets in fire sales or purely closing down. Those left standing, however, did well, posting a CAGR of 4.33%.
By Wale Omiyale
Earlier this year, we held a seminar in London focusing on the next 20 years of Market Research. Having seen so much change during our own 20 years in the industry, it made sense that a look ahead by the same timespan would deliver some fascinating food for thought.
Realising long-term goals relies on a series of short-term successes, General Mills head of corporate strategy Peter McDonald tells Jo Bowman.
Sustainable growth requires a planning process that keeps distant goals in focus – and at the same time builds in frequent opportunities to course-correct, says the strategy chief of one of the world’s leading global food companies.