UK Market Research Going Places

Market research in the UK is growing rapidly, and doing so at a time when other market indicators are showing a slowdown. This is the latest finding from the British Market Research Association (BMRA) whose data shows that industry turnover grew by 9% in 2000 to reach a total of £1,071m.

This estimated 2000 growth rate represents an approximate three fold increase over the UKís overall rate of price inflation. BMRA takes this to demonstrate that there is a slowdown in the UK economy, whilst negative influences are not deterring UK investment in top quality research. Association members are actually forecasting total annual growth of 12% in 2001 in this vein.

"The 9.3 per cent growth rate compares with 7.1 per cent in 1999," says Ivor Stocker, BMRA Chairman, and Chairman of NOP. "The spurt in growth came from a recovery in domestic UK research, which grew by 8.8 per cent compared to 4.4 per cent in 1999. Even though international research dropped back from a 14.4 per cent increase in 1999 to 10.5 per cent, it is still growing at a healthy rate given the global economic environment."

Mr Stocker added "These figures paint a clear picture of a healthy and growing business, evidence that market research has become a more fundamental part of the business process than ever before. Companies are increasingly aware of the business risks they take if they donít do market research. Itís fair to say that research is now firmly established as the cornerstone of marketing programmes everywhere."

BMRA have based these industry figures on returns from two thirds of their members, accounting for over 95% of the Associationís total turnover.