Consumer Research Surveys

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Consumer Research Surveys

After conducting extensive research, we were unable to determine the number of consumer research surveys conducted every year, globally, as the information is not publicly available. However, we found that North America and Europe have the largest market share of the market research industry at 45% and 35% respectively. Also, data from Nextiva revealed that some statistic companies reported that more than 1 billion surveys are completed by consumers every year in the US. Provided below are further details of our findings, as well as the research strategies used, to explain why the requested information is unavailable.

HELPFUL FINDINGS

  • The market research industry exceeded $45.8 billion in revenues in 2017, rising by 1% year-on-year, after experiencing a slight dip in 2009 during the Great Recession.
  • In 2017, North America generated the largest market share of the market research industry at 45%, or $20.6 billion, closely followed by Europe with 35%.
  • The Middle East and the Asia Pacific regions experienced the highest YoY growth in market research revenues at 2.9% and 2.6% respectively.
  • As per data from Nextiva, some statistic companies reported that over 1 billion surveys are completed by consumers each year in the United States.
  • Additionally, 19% of all online surveys globally are taken on a mobile device, with 52% of consumers not spending more than 3 minutes to fill out a survey.
  • As per data from SurveyMonkey, more than 2 million people take surveys on its platform each day, to provide feedback on varied and umpteen things from around the globe.
  • According to the NY Times, "there is no way to determine exactly how many consumer satisfaction surveys are completed each year."
  • Mindshare Technologies, a small company that conducts and analyzes on-the-spot electronic surveys revealed that it completes 175,000 surveys every day, and more than 60 million annually.
  • In addendum, ForeSee, a company that measures consumer sentiment about business and government and an offshoot of the American Customer Satisfaction Index stated that it collects 15 million surveys annually.
  • The 2017 annual report of Nielsen revealed that the company collects and analyzes more than 20 million surveys annually to measure consumer engagement and the recall of advertisements across television and online platforms to provide essential insights on advertising and content effectiveness.
  • As per data from Netscribes, around 40% of marketers are leveraging consumer research to inform their next moves. Consumer research studies play an integral role in executing effective marketing campaigns, mitigating investment risks, and improving competitive value.
  • As per a study by Opinion Lab, 72% of customers stated that surveys interfered with their experience of a website, and hence, 80% of customers abandon a survey halfway through.

RESEARCH STRATEGY

Your research team began by scouring through research reports on the global consumer/market research industry from Statista, Market Radar, Grand View Research, Bloomberg Research, and Deloitte, among others. These industry reports are valuable sources of industry-wide statistics and numbers, and hence, the idea was to see if they had reported the global industry size in terms of the number of surveys conducted or if they reported the same as part of industry-wide statistics. However, no relevant data was available. The team found a report from Statista that provided the size of the market research industry by revenue and its YoY growth, as well as the global regions with the highest market share. No information relevant to the number of consumer research studies conducted annually across the globe was available.
Next, the team looked through specific media articles from Forbes, WSJ, Business Insider, Bloomberg, Live Mint, Reuters, etc., survey studies from Pew Research, Nielsen, and Deloitte, among others, around any global statistics on consumer surveys, and consumer and market research specific blogs such as Greenbook Blog, Zappi, NewMR, and Vision Critical, among others. Once again, these sites are potential sources that either quote data from various surveys/research studies (especially paid ones) or provide results/useful findings from their internal studies conducted around a subject. Hence, your research team tried to leverage these sources to find the requested information. While the team was able to obtain some statistics around consumer surveys from various blogs and media articles, all the reports centered around statistics such as the average time taken to respond to a consumer survey, preferred device for responding to consumer surveys, and percentage of marketers leveraging consumer research/surveys. None of the sources provided any data or insights around the absolute number of consumer surveys conducted globally. The team was also able to identify some examples of small research companies in the US, which provide data on the number of surveys that they have conducted. However, no global figures were available.
Furthermore, your research team went through the databases of companies, looking at company filings such as annual reports and supplemental information, as well as the company blogs and press releases of some of the largest and key consumer, and market research companies such as Nielsen, Deloitte, McKinsey, Edison Research, SurveyMonkey, SurveyGizmo, and Survey Pal. Ordinarily, companies do disclose some information regarding the industry in which they operate through their filings, especially via annual reports. Hence, the idea was to check for any available information relevant to the count of consumer surveys conducted annually across the globe and their market share of the same. However, all the information found catered around the research capabilities and methodologies of the individual companies. Nielsen and SurveyMonkey did, however, provide some insights into their survey count, but did not provide any global figures. Also, since most of these companies are private, there were no detailed filings available for them.
Additionally, the team attempted to triangulate the information. Since global data was not forthcoming, the team tried to center the research around key locations such as North America and Europe. Your research team found that these two regions combined hold around 80% of the market share in the market research industry. Hence, the idea was to find data on the consumer surveys conducted annually in these regions and then extrapolate the data by estimating that since "80% of the market represents X number of surveys annually, 100% of the market will represent approximately N (X/80*100) number of surveys annually." However, even data for these two regions were unavailable. The team further tried to concentrate on key companies and their consumer research market share in North America and Europe. The idea was to follow a bottom-up triangulation approach stating that "companies holding X% market share conduct Y number of surveys annually. Hence, the total number of surveys conducted in the market annually can be estimated as Z (Y/X*100)." However, data at this level was not available. As such, this triangulation approach did not materialize. Nielsen gave the number of surveys which it conducts annually, but the specific market share in consumer surveys was not available. Also, the number provided was only for advertising surveys.
Lastly, your research team tried was to broaden the scope of the research to sources older than two years. With this approach, the team hoped to look for slightly outdated, but useful information apropos of any past surveys or research done around the topic which could serve as a proxy to obtain more recent information. The idea was to use the older research highlighting any data for the number of consumer surveys conducted globally as a starting point and then, apply the industry growth rate provided by Statista to estimate the current number of consumer surveys conducted globally. However, no relevant past surveys or research reports could be located around the topic, and hence, this strategy did not provide any useful results.
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