UK market research industry grew by 2.3% in 2007

by Jacquie Bowser, Brand Republic 23-Jun-08, 14:10

LONDON - The UK market research industry increased its revenue by 2.3% in 2007 to an estimated total of £1.8bn, according to the Market Research Society.

The annual MRS survey found that turnover from domestic research represents about 75% of total UK sales, and international research accounts for about 25%. These proportions have reportedly been relatively constant over the last decade.

In 2007, domestic growth was 2.7% and international research increased by only 1.2%.

The MRS explained that as the UK is the world's second largest market for market research, it experiences relatively slow growth compared with much smaller but more recently established markets in Latin America, Asia and Eastern Europe.

David Barr, MRS director general, said: "This level of growth shows little change on the pattern of recent years, confirming the impression of a mature market continuing to be characterised by tight, price-competitive conditions."

"The rapidly increasing use of faster, lower cost online methodologies for data collection is certainly working to the advantage of clients, but does have the impact in some agencies of reducing total invoice value. It may well be that the total volume of research work undertaken could be growing at double the rate of growth of invoice values."