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UK MARKET RESEARCH INDUSTRY REPORTS IMPRESSIVE 6.22% GROWTH FOR 2008Date: 11 June 2009 The annual survey of the UK market research industry, undertaken by MRS, has revealed that total industry revenue increased by 6.22% during 2008, to an estimated total of £2.164bn. The UK is the world’s second largest market for market research but despite its maturity, 2008 growth powered ahead of the 2.3% recorded for 2007. Although it tends to exhibit relatively slow growth compared with developing markets in Latin America, Asia and Eastern Europe, the uplift seen during 2008 highlights the underlying strength of the sector. David Barr, MRS Director General, commented: “This level of growth is very encouraging, particularly when inflation has, for the time being, ceased to be a significant factor”. The ratio of domestic research to international work has been relatively constant over the last decade at 3:1. In 2008, domestic research grew by 3.8% while international research expanded by 12.5% - another significant uplift on the 2007 growth rate. “This very welcome surge in international research confirms the importance of the UK as a hub for international projects, and represents a significant gain in global market share,” said Barr. However, he expects a tougher year for the research sector in 2009 as clients businesses continue to cut spend. He continued: “Market research is certainly not immune to the impact of recession, although it has shown itself in previous downturns to be relatively resilient compared with other disciplines in the marketing services sector. We expect that to be reflected throughout 2009 and beyond”. -ends- For more information on MRS and its activities, please visit its website at www.mrs.org.uk or call the MRS press officer Emily Luscombe on 020 7636 7366 / email eluscombe@camarguepr.com
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