Satisfying Customer Appetites: The Role of Market Research in the Restaurant Industry
According to recent forecasts, the restaurant industry will generate $997 billion in sales in 2023, despite inflation. However, rising ingredient costs, competition, and customer expectations could offset post-pandemic progress. Market research allows restaurants to bridge the gap between what they offer and what customers want, allowing them to optimize menu offerings and services and stay […]
How Community Can Benefit the Banking Industry in the Impending Recession
During economic downturns, banks must remain connected to their customers and communities to provide financial support and stability to individuals and businesses. Building strong online community ties is one of the most effective ways to accomplish this. This article will explore how banks can use online communities to make connections and the robust benefits communities […]
Market Research For The Banking Industry
Recessions affect businesses in all sectors; however, banks and other financial institutions are hit hardest when the economy is in turmoil. Economic hardship results in high-interest rates, inflation, and a lack of consumer spending and confidence. To stay afloat, banks need to convert and retain customers, which can increase profitability by 25% to 95%. Community […]
How Community Can Benefit The Insurance Industry In The Impending Recession
The last three years have been tumultuous for all businesses; however, the insurance industry has weathered the pandemic storm with grace and flexibility. Many insurance companies improved their systems and capabilities with new technology, allowing them to avoid significant casualties during COVID-19 shutdowns. The seismic shift in business operations truly benefited the industry and capitulated […]
Using Market Research To Navigate Economic Uncertainty
It’s no secret that the economy is unstable right now. If you need evidence, just take a quick trip to the grocery store and observe the barren shelves and disproportionately high prices for items that were once considered “cheap.” Beyond consumer goods, a broader look at the economy shows more signs of turbulence ahead. In […]
Market Research Solutions for the Toy Industry
Today, more than ever, Americans have a love affair with shopping. It’s easy to see why when we live in a world where the dopamine rush of purchasing a new item is a mere click away. Although recent data tells us that consumers are slowing their superfluous spending to weather inflation, they still want to […]
Market Research for the Insurance Industry
Insurance companies are facing unprecedented challenges. From a regulatory perspective, the industry is being scrutinized more than ever before, and the cost of doing business is increasing. On top of that, customers are becoming more knowledgeable about their insurance options and more willing to shop around for better coverage at a lower price. Given that […]
Enhancing the Customer Experience with FCX
Customer Experience Management (CEM) is a business strategy focusing on making every customer interaction positive, memorable, and rewarding. The customer experience (CX) is every customer interaction with your company; This includes speaking with customer service representatives and receiving your product or service. A fine-tuned CX program leads to increased loyalty and retention, ultimately driving revenue. […]
Market Research For The Travel Industry
When the COVID pandemic struck, most people avoided travel and airfare became more affordable than it’s ever been. But now that the worst has passed, people are starting to get out of their houses again—even if it means paying more for travel. In 2022, inflation on consumer goods reached a whopping 9.1%. This, coupled with […]
Market Research Solutions for Streaming Companies
It’s no secret that streaming companies are facing a variety of challenges. From competition to consumer subscription fatigue, the industry needs solutions to help it weather the storm. From a market research perspective, streaming companies face particular challenges in identifying and understanding their target audiences. Unlike traditional media companies that broadcast content to entire markets, […]