By Grant Bertoli
Wow what a change we have seen in the Asia Pacific region since the turn of the century.
Over this past 15 years, in Asia it was Hyper Growth, followed by Stable Growth
Over this past 15 years, economic performance throughout the Asian region was among the strongest in the world fuelled by substantial population shifts to urban centres where most employment and wealth were generated, a rise in working-age share of the population, declines in the fertility rate, expanding trade openness, high savings rates, a focus on education, and effective macroeconomic policies, not to mention the rise and rise and rise of China as a powerhouse on the world stage. And over the same period you can add two other key global developments which have had the profound impact on the region, one is the explosive wave of digital and the second is globalisation. Both of these developments have contributed to the changes we have seen in the Asia Pacific region and have had a profound impact on our industry, which have revolutionized marketing and offered new ways to reach, inform, find, educate, engage, sell, and provide services to customers.
Key global developments which have had the profound impact on the region, one is the explosive wave of digital and the second is globalisation
No doubt these factors have impacted our world and have shaped every aspect from government and business, to geography and society, and of course shaped the Market Research industry as we see it today.
APAC research market tripled in size in past 15 years
Over the same 15 years, according to ESOMAR reports, the Asia Pacific total market research spend in 2002 was USD 2156 million with Japan accounting for over half of that spend at 1032 USD million, and now in 2016 total research spend in Asia Pacific was USD 6521 million, where Japan turnover was at USD 1826 Million and China as a powerhouse growing from USD 302 Million in 2002 to similar levels of turnover to Japan in 2016, USD 1884 million.
Factors and more have impacted our world, our Market Research industry
And for our Market Research industry here are some of those key changes, which are not dissimilar and not surprising to what we have mentioned with the overall changes to the Asia Pacific region:
- The industry grew at hyper level rates but from 2014 has matured with slower growth rates.
- The corporatisation of the Market Research Industry with a top four global companies consolidating and complimented by a larger number of smaller locally based insights companies.
- The quality, sophistication and complexity of research has moved from core Face to Face Quantitative and Qualitative in the early 2000s to now far more electronic and digital information capture.
- The knowledge and level of insights across all countries has grown with MR in all countries, including the number of client-side market insight roles increasing and the shear amount of information that is now available in any given market.
- While varying degrees all have access to technology-based products and services – best of class from anywhere in the world and ongoing growth in innovation.
At the heart of our industry is what matters most, people
These factors and more have impacted our world, our Market Research industry. They are what has defined us as an industry and, in many cases, it has called for us to move on from what we have learnt in the past, and a need to move to new approaches which have superseded the previous proven ways and approaches for research. But let’s not forget that at the heart of our industry is what matters most, people. We study people and this hasn’t changed in the past 15 years, in fact since the industry was defined.
Let’s keep the core focus on people but let’s adapt with the times
Let’s keep the core focus on people but let’s adapt with the times within our industry too. Let’s embrace the new research techniques, let’s find ways to collect and synthesize the data overload, let’s expand new thinking and take insights one step further.
Let’s DRIVE the APAC region’s data, research, insights and analytics profession forward
After all this is what our industry does well and it’s the reason why we can all benefit from the ESOMAR Asia Pacific in Bangkok, Thailand. The programme has been designed around the simple message of Drive. Let’s DRIVE the APAC region’s data, research, insights and analytics profession forward and see what the future holds. Let’s take control of our industry and shape it in the way in which it remains the most relevant and valued by our clients.
Let’s find out how brands are driving growth, Let’s find out what is Driving People, Let’s Find Out what is driving our Industry Excellence, Today and Tomorrow.
So do not miss this opportunity to hear the presentations and join masterclasses and interactive sessions from companies such as Unilever, Standard Chartered, Nissan, Nestle, Line and IAG plus many leading agencies papers. And also don’t forget the value of networking with your peers in the industry who collectively can change and influence our industry as a whole and DRIVE the industry forward!!
Grant Bertoli, Buzzebees Thailand, is programme committee chair at ESOMAR APAC 2018 and