My visit to last week’s annual European trade fair - previously Research and Results - in Wiesbaden (near Frankfurt/Germany) provided me with many interesting conversations. It also delivered an interesting snapshot of the state of the market research industry.
The industry is in full flux - that was my overall take-out. Disruption to be experienced live.
Some observations:
Whilst the new venue was modern, airy, and very centrally located, the fair itself seemed smaller, with less exhibitors than I recall at the Research and Results in Munich. Lots of players I had never heard of.
The talks, workshops seemed well attended - and from my observations there were indeed clients aplenty in attendance. There was plenty of energy.
The energy nodes were however different. In previous years a major buzz used to emanate from a central and popular stand by Kantar. Cocktails were no doubt a pull. This didn’t seem the case this year - they no longer had pole stand position, and the stand seemed relatively quiet. Just my impression after numerous walk-bys.
The panel companies’ stands by contrast seemed pretty busy - growth and energy it seems still coming from the data-providers, who were traditionally at the lower end of the value-add ladder. Quite a shift in dynamics.
Full service institutes revealed a mixed picture - Mindline seemed energised by their new hires at Mindline Explore, a few of who came from my own ex-agency Happy Thinking People. Others seemed more muted, less obviously relaxed - with less time to converse, exchange views. Perhaps they’re feeling the pinch of economies and market segments, many of which in Europe are not growing strongly.
My overall take-out: the “noises-off” are likely what is driving the mood music. The goings-on in tech, synthetic data, Chat GPR and more form a formidable backdrop of change and disruption.
A LinkedIn post by Mark Ritson published on the day prior to the conference on the 90% equivalance of a synthetic versus human data collection method stuck in my mind. Wow - how many years before validation arrives, and with what consequences on the value chain in MR.
Looking forward: no doubt “consolidition” will continue to be on the cards, as business owners evaluate growth and margin options. Economic bigger picture stuff remains challenging.
That having been said, the value that research can bring to the table as a powerful voice of consumer desires, dissatisfactions and fears remains to me unquestioned.
And the need client-side for empathetic and intelligent agency partners remains extremely clear - even if Purchasing Departments appear inflexible, draconian even.
Let’s hope that many others share my optimism, that the research industry continues to be a force for human-centric innovation initiatives, business and marketing strategies. A force for good, in whatever shape that may be.
Curious, as ever, as to others’ views.
Great report. Do you recall any interesting innovations or new pitches among the panel companies this year?