As the world is slowly reviving out of the covid pandemic woes that gripped the world for 2 years and resulted in global economic crisis, there certain factors which need the researcher’s keen observation while studying the market.
The markets are opening up to its full capacity and the economies are coming has more resilient with preparedness for covid like situation, the market researchers are laying down the factors that they feel is important while getting deeper into market analysis.
So, here are some predicted market research trends for 2022-
Uncertain Supply Chain and Inflation-
The uncertain supply chain and inflation are the two factors that affect the market scenarios, thus need to be taken into consideration while doing the market analysis, says Brian Clayson, Director of Customized Analysis. He further quotes, there has to be continued refining of the customer data base every 18 to 24 months and they should be tested while predicting the future market scenes.
There are three kinds of uncertain supply chain that needs attention- Upstream (supply), internal (process), and downstream (demand).
Office First to Remote First
The researchers should first have the ability to think like a CFO and present like a CMO, says Kristin Luck, Founder, Scale House. He further puts, the market pros should adopt strategies that focuses and results in business performances rather than taking up on project-to-project basis.
By now we must shift to concept of office first to remote first mindset and we are a pool of talent, but focus must be on hiring the diverse talent.
Social Listening
Since the covid pandemic, market dynamics have changed forever, so whatever was applicable before covid now needs double checking. We must consider social media and be all ears to social listening. The social media is now becoming a highly emotive space with regards to consumer behaviors, complaints, purchasing trends, reviews, etc. Social listening can help out in skimming the content or data that is needed for market analysis and opportunities, says Paige Arnof- Fenn, Founder & CEO, Mavens and Moguls.
The researchers can now focus on more qualitative research, shifting to online and group research instead of conventional and in- person data collection. This would help in predicting market research in 2022.
Consumer Emotions-
While we all know the consumer is driven by emotions more than need during their purchase, the companies need to create a strong and healthier bond to whilst understanding their emotions to retain the loyalty. Pandemic has made many not only the companies but also the researchers count on raw emotions that runs in the veins of consumer behavior, thus one of the factors driving the predicted market research trends in 2022.
Expansion into Data Strategy Business-
In 2022, the market research companies must expand into data strategized business, companies like Walmart are already selling their data. This data would further be used as actionable predictive model or commercial product, thus acting as predicted market research trends in 2022.