MRM EXCLUSIVE: Eating Habits are Shifting
28 Apr 2022

Provoke Insights’ newest research on restaurant trends and pandemic-related concerns is featured in a recent article from Modern Restaurant Magazine.

In this newest in-house survey, which was fielded in March 2022, Provoke Insights aimed to gain perspective on diners’ mindsets, habits, and experiences when eating at restaurants. Provoke Insights included 14 other categories in this fourth wave of research, including alcohol, travel, and retail.

The standout findings include:

  • Concern for eating at restaurants has decreased by 29% since 2020
  • Restaurant-goers skew younger (Gen Z & Millennials)
  • Demand for fast food has been growing since the start of the pandemic. 64% of consumers eat at fast food joints the same amount or more than pre-pandemic.

Head to Modern Restaurant Management for more exclusive insights on the restaurant and hospitality industry!

Which way is furniture demand really headed? – Furniture Today
26 Apr 2022

Provoke Insights’ newest research on trends in furniture demand and brand loyalty is featured in a recent article from Furniture Today.

In March 2022, Provoke Insights surveyed 1,500 Americans. This survey aimed to gain perspective on consumer mindsets and their loyalty to brands in multiple industries, including furniture.

The standout findings include:

  • Furniture shoppers are more likely to be parents and employed
  • About 60% of Americans expect to buy furniture in the next six months
  • Two-thirds of furniture buyers prefer to buy in-store vs. online
  • Those looking to purchase furniture online are younger, wealthier, and living in urban areas

Overall, the survey found that loyalty to a furniture brand is not as high as it is in other categories. This must be kept in mind by furniture brands when developing marketing strategies, as well as considering who is purchasing furniture and where it is being purchased.

The Pros & Cons of Hiring a Market Research Firm
14 Apr 2022

Market research is vital for business growth and expansion. Understanding the market and the consumer helps build brand image and develop effective marketing strategies. To excel beyond the competition, it is essential to be aware of what’s happening in the industry, what’s being said by the public, and how this could impact your brand. However, not all businesses have the expertise or ability to do their own market research, which is why hiring an outside firm can be beneficial. Here are the pros and cons to assess when thinking about hiring a market research firm.

The Pros of Hiring a Market Research Firm

Proven Methods Deliver Highly Accurate, Reliable Results

Market research firms specialize in research, so they have the necessary tools and knowledge to provide your brand with highly accurate, in-depth information. Many researchers have academic training and have worked in the industry for several years. Using their past experiences and data, they can uncover tailored research needs and brainstorm creative solutions. They will know what methodologies to use to craft the most impactful story for your brand launch, strategy shift, or marketing campaigns. 

Less experienced individuals may conduct research that results in inaccurate data.  As a result, their findings may tell an inaccurate story and create an ineffective strategy. 

Unbiased, Third-Party Opinion

Your brand can gain a neutral, unbiased opinion from an outside firm. The firm can provide ideas on research methods and marketing strategies. Since they are not part of your company, they will rely on objective research and expertise to develop unique recommendations tailored specifically to your brand. In addition, consumers may be more open about their opinions and experiences when responding to an independent research company, rather than a brand representative.

Credibility & Engagement

The press loves original research. Hiring a market research firm gives brands original, credible research that can be used to differentiate from the competition and is seen as more trustworthy by viewers. Additionally, content that contains original research generates more website traffic, social shares, and mentions online.

The Cons of Hiring a Market Research Firm

Costly

Hiring a market research firm is not free. It can be costly to pay for the experience, resources, and time to conduct quality, effective research customized to your company.

While it can be expensive, research had proven the ROI.  Research can refine your market strategy, tell you which advertising creative is most effective, and even give you a concise go-to-market plan.

Requires Time

Firms cannot conduct meaningful research overnight. It takes weeks and even months to analyze the results, create a strategy, and execute the plan. Although research plans can be made for a certain timeframe, it is simply not possible to get immediate results, especially when hiring an outside research firm that is conducting research for various clients at once.

Conclusion

Market research is incredibly useful for growing a business, but there are many factors to consider. Hiring a market research firm can be extremely beneficial to gaining an expert, unbiased, and credible view. However, one must keep in mind the limitations of cost and time.

Interested in reading more on market research? Check out our other blogs here. 
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Coming Soon: Brand Loyalty & Trends In-House Research
14 Apr 2022

We are thrilled to announce Provoke Insights’ newest wave of in-house research on brand loyalty: the Spring 2022 Brand Loyalty & Trends Report. 

In this 4th wave of complimentary research, Provoke Insights surveyed 1,500 Americans between the ages of 21 and 65 to evaluate the purchasing funnel by brand category.  More specifically, this study analyzed what consumers are buying, where they are buying these items (retail channel), and how loyal they are to these brands. Industries include travel, retail, CBD, skincare, restaurants, furniture, produce, alcohol, automobiles, electronics, fitness, outdoor gear, power tools, and toys.

In addition, this research tracks the impact of the pandemic, economy, and trends on consumer behavior.

Our reports are completely free and easy to download. Feel free to use any of our research in your publications. When sourcing our data in publications, please accredit Provoke Insights and hyperlink to our page.

Interested in our last wave of in-house trends research? Check out our quick-to-read blogs here. 

Are you interested in our market research capabilities? 

RAB and Provoke Insights Launch Radio-Focused Research Partnership
14 Apr 2022

Provoke Insights and RAB partner to conduct radio-focused research, shared by All Access.

The research on consumer sentiment and behavior will be presented on a quarterly basis. It aims to give advertisers an understanding of radio’s role in shopping behaviors and the value of radio-listening consumers. The joint effort will first be presented at the NAB show on April 24 in a session, “VBR – The Valued Business of Retail.”

RAB Partners with Provoke Insights To Research Key Ad Categories
13 Apr 2022

Provoke Insights is partnering with the Radio Advertising Bureau to research categories important to radio, as announced by Inside Radio.

Provoke Insights partners with the radio advocacy group RAB to give broadcasters new insights into the consumer mind across key ad categories along with a better understanding of audio’s role in shopping behaviors. The primary research will reveal consumer sentiment in many categories that are important to radio, from travel to fitness. Quantitative research aims to help RAB members in their work with advertisers by providing information that will emphasize the value of radio-listening consumers. The first presentation with both partners will be at the NAB Show on April 24 in Las Vegas with a session titled “VBR – The Valued Business of Retail.”