Market Research weathers a tough year to outperform expectations
UK Market Research industry reports 4.7% decline
Date: 7 June 2010
The annual survey of the UK market research industry, undertaken by MRS, reveals a positive outlook for the sector, with lower-than-expected decline during 2009.
Total market research industry revenue declined by just 4.7% during the 12 months to December 2009, reaching an estimated total of £2.076bn, down from £2.164bn in 2008.
The UK is the world’s second largest market for market research. Despite the maturity of the sector, coupled with general pessimism about Western European markets, UK market research fared better than expected during 2009. Although negative growth prevailed, the industry saw significantly less adverse returns towards the end of the year.
Domestic research declined by 3% in 2009, following growth of 3.8% in 2008. International research declined by 8.3% in 2009, having increased by 12.5% in 2008.
David Barr, MRS Director General, comments: “2009 was a challenging year for business generally. The market research sector was certainly not immune to the recession, but the overall results for the year mask significantly different outcomes for individual companies and segments. Nonetheless, while the 2009 result substantially offsets the outstanding growth of 6.22% in 2008, it still leaves the market research industry larger than it was at the end of 2007.
He continues: “Significantly, many research organisations are reporting a strong first quarter 2010. The resilience of the sector as a whole remains much in evidence”.
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For more information on MRS and its activities, please visit its website at www.mrs.org.uk or call the MRS press officers Emily Luscombe and Alice Hammond on 020 7636 7366 / email eluscombe@camarguepr.com or ahammond@camarguepr.com
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