US Research Industry Index Nudges Up

In the US, the Research Industry Index (RII) compiled by the Marketing Research Association (MRA) has increased from 100 to 102, reflecting management's growing confidence in the health of research firms.

The RII is a quarterly study tracking the health of the marketing research industry in the US. This report represents the 24th wave, conducted in October and November 2013.

In the previous wave, the RII reached 100 for the first time since the fourth quarter of 2010, signaling growing optimism across the sector. The latest index found that the numbers of RFPs/proposals, projects/booked revenue and staffing levels were almost identical to the previous quarter. However, an overall improvement in executive management's outlook on the health of their organization nudged the index up, with these execs showing more optimism than they have reported for some time.

While the industry has shown some improvement overall, many smaller firms (those with under $1m in annual revenue) are lagging, with 34% reporting decreased levels of RFPs/proposals, and 44% reporting decreased levels of revenue and projects.

Director of Research Amy Shields (pictured) comments: 'Although the index score is a positive indicator, there is plenty of room for growth in 2014, particularly for smaller firms who appear to still be feeling the pinch of a less-than-perfect economy.'

Web site: www.marketingresearch.org .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.