While turnover in the UK market research industry is still 'fragile', the sector has reported a slower decline in the past twelve months according to research conducted by the Market Research Society (MRS). A majority of firms expect growth in 2013.
For the study, MRS surveyed 63 members of its Company Partner Service (CPS) with combined turnover of around £900m. Revenue for these companies showed less of a decline; from -3.5% in 2011 to -2% in 2012. Domestic turnover, which represents 65.9% of the total, fell by 3% year-on-year, whereas international turnover was static at +0.3%.
Internet-based spend has increased from 25.6% in 2008 to 39.7% in 2012, with Internet panels and general web-based interviews increasing their share. In addition, the MRS said that spend from public sector sources has increased back to 2010 levels after slackening in 2011.
Looking to the remainder of 2013, a majority of those surveyed are anticipating revenue growth in their organisation by the end of the year at a level 'significantly ahead' of UK economic growth in general.
MRS CEO Jane Frost (pictured) comments: 'There are likely to be fresh challenges in the year ahead and those working in the sector are right to remain wary. However, these results bring some much needed optimism that things are now starting to look up for our CPS research suppliers.'
Analysis of the US MR sector published earlier this month by industry authority Jack Honomichl pointed to a 'weak downward trend' in 2012, with revenues after adjustment for inflation at -0.4%.
Web site: www.mrs.org.uk .
All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.