Every year, companies around the world spend in excess of thirty billion dollars on market and consumer research. Companies like Nielsen, Kantar, IMS, Gfk, ipsos and Synovate have become global knowledge powerhouses by conducting research into consumer behavior for more than 60 years.
The thirty billion dollar research industry is driven by the need for information. Information about consumers, how they act, what they like, when they spend, how they shop and why they think the way they do has led to an insatiable need for information. The more data, the more accurate the data, and the more intelligence that can be derived, the more valuable the information. Consumer surveys, mystery shoppers and casual human observation provide brief glimpses into the psyche of the consumer.
