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GfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. More than 13,000 market research experts combine their passion with GfK’s long-standing data science experience. This allows GfK to deliver vital global insights matched with local market intelligence from more than 100 countries. By using innovative technologies and data sciences, GfK turns big data into smart data, enabling its clients to improve their competitive edge and enrich consumers' experiences and choices.

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Here you can find the latest global news, studies and publications from GfK.

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    • 08/21/17
    • Careers
    • Press
    • Global
    • English

    Jutta Suchanek and Benjamin Jones join GfK’s Executive Leadership Team

    GfK appoints Jutta Suchanek and Benjamin Jones as members of the Executive Leadership Team in where both will take on newly created roles.
    • 08/16/17
    • Health
    • Consumer Panels
    • Global
    • English

    Curating an answer to deeper consumer understanding through data

    This post was co-authored by Natasha Stevens and Michelle Morgan At a time when surveys seem to be under a kind of siege – viewed by some as backward and outdated – let me go out on a limb: Surveys have never been more important or relevant. Yes, behavioral data can tell us exactly what people do – no guessing or memory jogging required. But there are also restrictions; we may only know, for example, what people are doing within a single environment – online or in store. And while behavioral information can provide extremely rich consumer insight, it often cannot tell us why people do things: what they were hoping for, whether they were disappointed, and their feelings about the brands in their lives.

    The challenge for researchers

    Surveys can help us fill in all of these gaps; and yet we also know that consumers’ patience with long questionnaires – especially on smartphones – is shrinking. The challenge for smart researchers, then, is: How can we use surveys only when they will provide unique and indispensable information, but quit before our returns start to diminish? The answer is doubling down on a skill unfamiliar (and perhaps unsettling) to many researchers — data curation. Here we use different data sets, often from very diverse sources, to create the complete picture we need of consumers’ preferences and behavior. By linking two or more data sets through carefully developed criteria, we can focus our survey takers on giving us only the information we can obtain nowhere else.

    Data curation in action

    One recent example of data curation in action was inspired by the looming changes in US healthcare and insurance. Survey data capturing public opinion on US healthcare reform is abundant – much of it focused on the specifics of the policy itself, with respondents generally profiled according to their political affiliation. We wanted to develop a profile of survey respondents that went beyond party politics and looked more deeply at motivations and personal characteristics around health. Using KnowledgePanel®, the largest probability-based online panel in the US, supplemented with key health psychographic variables from MRI’s gold-standard Survey of the American Consumer®, we were able to develop a more nuanced picture of our survey takers. The MRI-KnowledgePanel® fusion allowed us to integrate health-related profile data for KnowledgePanel® members – such as body mass index (BMI), information about chronic physical and mental health conditions, and health insurance status – with 25 health psychographic variables from MRI. We found that those who disapprove of the Affordable Care Act are less likely to believe that generic drugs are as good as brand-name drugs. In addition, they are more likely to be the first to try advanced medication and more likely to agree that medication has improved their quality of life. Using the integrated databases, we were able to add a number of high-value characteristics to the mix without additional questions or fees; these included presence of chronic health conditions, medication compliance, body-mass index, and body image.

    Deeper insights from fused data

    By mastering data integration and curation, we can deepen our insights from any one source. In our healthcare example, the fused data allowed us to develop a richer and more robust profile of survey respondents than we could achieve with KnowledgePanel® data alone. With the right data resources and expertise, this new approach creates almost infinite possibilities for expanded insights. Natasha Stevens is Executive Vice President of Digital Experiences at GfK. Michelle Morgan is the Research Director of Data and Insights Integration. To share your thoughts please email natasha.stevens@gfk.com or michelle.morgan@gfk.com.  hbspt.cta.load(2405078, 'c8ef7288-c2e0-4cae-86a4-a0d3535430e8', {});
    • 08/14/17
    • Retail
    • Consumer Goods
    • Global
    • English

    4 things your brand is missing out on without an online store finder

    According to a 2017 study on ecommerce trends, 61% of shoppers are more likely to research brands before making a purchase. So while shoppers are on your site, it’s important to keep them there and give them more of a reason to buy your products. One strategic way of doing this is to capitalize on using a store finder or ‘where to buy’ application on your website. Besides what may seem obvious with this function (giving customers information into where they can buy your products), there are some other key benefits your brand may be missing out on if not installed.

    Lost sales due to comparison shopping

    Many brands lose business to competitors through comparison shopping. In a 2017 survey, 71% of shoppers believe they will get a better deal online than in stores, so it’s likely that they are going to shop around for the best one. Having a store finder that displays pricing and stock information for other retailers can help sales tremendously as it keeps potential buyers from starting a product search on a marketplace where they can compare and find competitive products. Tip: Make sure your store finder technology is able to list pricing and stocking info in real-time so that you are giving our customers the most accurate and up-to-date info.

    Value-Added convenience

    Today’s digitally connected and multi-channel shopping consumers always seem to be on the go either by surfing the web or physically out shopping. By having a store finder application on your website you are providing your shoppers with all the right ways to buy your products – your website, in store, or through other online channels. And by displaying all pricing, inventory and location information this is a major convenience that helps save your customer’s time and you are helping your customers find retailers who they may already be loyal to. Tip: For further convenience, it is essential that your store finder is responsive for those mobile shoppers and can be geo-targeted to their location so that location results are showing near-buy retailers.

    Channel support

    Although not customer facing, by having a store finder that lists the location, pricing and stocking info of your key retailers, you’re offering more support to your channel partners. And if you are a brand that doesn’t have a shopping cart on your website to support resellers, a store finder is even more valuable to your business and your channel relationships. Eliminate cart abandonment due to comparison shopping and keep them coming back with a positive shopping experience.

    A better online shopping experience

    Enhancing your product detail pages with quality product content and images all make for a good online shopping experience, which can lead to sales. With the added convenience and functionality of a store finder, your product detail pages are set up for an even greater experience that can help keep customers coming back to your site, no matter the stage of their buying journey. Tip: Ensure you are able to use your store finder technology to its full potential by tracking performance metrics. When set-up with all the right information such as, real-time pricing and inventory, geo-targeting, and a responsive design, a store finder just may be the ultimate product closing tool. Interested in adding a store finder or looking for other options? As a product content company, GfK Etilize has all of the data to easily crawl and match products with different identifiers on popular retail sites, to always show accurate products and inventory. We also automate the addition of new products as launches happen, to maximize sales on newer, best-selling SKUs.
    • 08/11/17
    • Retail
    • Technology
    • Global
    • English

    How is the smartphone transforming brick and mortar retail?

    When we think about how smartphones have changed the retail landscape, it often revolves around how e-commerce is banishing traditional brick-and-mortar establishments to obsolescence. At least, that’s what you would gather from sensational news reports about the current mall crisis in the US and the shutdown of several local stores in Singapore such as furniture store, iwannagohome and fashion brand, Raoul. Here’s a story that’s less newsworthy, but equally true. Rather than being the harbinger of doom and gloom of physical retailers, the smartphone also has enormous potential to transform physical retail for the better. The smartphone has made shopping a breeze with apps for fashion, groceries, electronics and food, with the likes of Zalora, Lazada, Redmart and Honestbee. If implemented effectively as part of an omnichannel marketing strategy, smartphones could somewhat ironically be the key to survival for physical retail outlets. For the uninitiated, the idea of omnichannel marketing is simple. Brands need to provide customers with a seamless experience, regardless of channel or device. Whether it’s in-store, online, via social media or through a smartphone app, the consumer’s experience should be consistent and complementary. A one-size fits all approach does not work though, as shoppers behave differently by country. That’s why it’s essential for retailers to have market research intelligence on shopper needs and behavior, to tailor retail strategies for the local market.

    Smartphones have enhanced our lives

    In our 2016 Connected Consumers Report, we referred to the smartphone as the ‘hub of the consumer’s life’ – a nexus where their offline lives meet their digital ones. Smartphones are the top choice for online shopping (it used to be the desktop) as they give shoppers numerous benefits and convenience. Our research shows that 45% of all shopping is influenced by mobile, and without having to enter the physical stores, shoppers can avoid queues, order ahead and enjoy customized offers. Smartphones are also beneficial for e-commerce sites that want to move offline, for example Amazon – which has recently been making headlines for opening bookstores and grocery stores. Amazon has been using mobile technology to track customer preferences and sales, and enabling shoppers to grab groceries and walk out of the store as the order gets posted to the shopper’s Amazon account later. Closer to Singapore, we’ve seen homegrown brands like Naiise, HipVan and Love Bonito extend their online presence offline in shopping malls. Naiise for example, offers self-collection services at its physical stores for online orders. hbspt.cta.load(2405078, '19fbe304-01ff-4a00-a0a7-7864a1840b6e', {});

    The role of smartphones in consumer retail

    In our global survey on consumers’ activities with mobile phones in stores, we found that globally, 40 percent of shoppers use their smartphones while in a physical store to compare prices and contact a friend for advice, while 23 percent and 22 percent buy products through an app or through a website respectively, proving that once customers step through the door, even more can be done to seal the deal. Beauty retailer Sephora for example, has successfully used augmented reality and lip-mapping technology in it’s app – Sephora Virtual Artist, to instantly and effortlessly help users figure out which of 3,000 lipsticks shades suits them most – a typically time consuming task. Singapore shopping malls such as 313@Somerset and Parkway Parade have been experimenting with proximity marketing and mobile location analytics to reach out to shoppers who are surfing nearby, in a more targeted manner while showcasing offerings effectively. Through proximity alerts, patrons are able to enjoy exclusive deals, purchase and redeem their items immediately.

    Winning consumers with customized mobile services

    One of the most valuable resources of a smartphone is that it can provide retailers with information, which is key to capturing brand loyalty – a trait that today’s spoiled-for-choice Connected Consumers are lacking. Brands can leverage customer data and point-of-sales (POS) analytics to offer more personalized services such as customized offers. In turn, this presents an opportunity to generate long-term relationships. AsiaMalls for example, which owns six heartland malls, has seen success with AMperkz, its card-less loyalty program that enables personalized and location-based rewards and exclusive member offers. Starbucks too, has seen massive success in the past six years by taking its popular loyalty program to the mobile platform, resulting in higher sales, customer loyalty and foot traffic. Last year, 25 percent of the chain’s transactions in the United States were from a smartphone. Mobile Order & Pay, the company’s mobile order-ahead service has been lauded for providing convenience, but the code behind it – the data-driven algorithm to predict, personalize and recommend individual offerings at checkout shouldn’t be understated either as it’s a data-driven Artificial Intelligence (AI) algorithm based on consumers’ preferences and behavior; and behaviors that Starbucks is trying to drive. In the age of the Connected Consumer, omnichannel shopping is becoming the new normal. Therefore, understanding the shopper’s purchase journey is crucial – and this is one of the toughest challenges faced by retailers today. However, armed with research insights on the route shoppers take when making a purchase, ways in which different online and offline touchpoints influence their purchase decision, and the type of media they are exposed to; retailers can optimize their omnichannel strategy. Karthik Venkatakrishnan is Regional Director at GfK. To share your thoughts, please email karthik.venkatakrishnan@gfk.com or leave a comment below. hbspt.cta.load(2405078, '19fbe304-01ff-4a00-a0a7-7864a1840b6e', {});
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