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  • Map of the Month: GfK Purchasing Power, Germany 2019
    • 01/14/19
    • Fashion and Lifestyle
    • Financial Services
    • Industrial Goods
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • Energy
    • Geomarketing
    • Geodata
    • Picture of the month
    • Global
    • English

    Map of the Month: GfK Purchasing Power, Germany 2019

    GfK's Map of the Month for January shows the projected distribution of purchasing power in Germany in 2019.

  • UK Consumer Confidence drops one point in December to -14
    • 12/24/18
    • Home Appliances
    • Retail
    • Consumer Goods
    • Trends and Forecasting
    • United Kingdom
    • English

    UK Consumer Confidence drops one point in December to -14

    Three of the five measures used to calculate the Overall Index Score decreased and two measures saw an increase in December, in GfK’s long-running Consumer Confidence Index.

  • Map of the Month: GfK Purchasing Power density, Europe 2018
    • 12/20/18
    • Fashion and Lifestyle
    • Financial Services
    • Industrial Goods
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • Energy
    • Geomarketing
    • Geodata
    • Digital Maps
    • Digital Maps
    • Picture of the month
    • Global
    • English

    Map of the Month: GfK Purchasing Power density, Europe 2018

    GfK's Map of the Month for December shows the 2018 distribution of purchasing power density (mil. € per km²) across Europe at the two-digit postcode level.

  • In GfK hackathon competition, students will create business plan for AI smart speaker
    • 12/13/18
    • Home Appliances
    • Media and Entertainment
    • Retail
    • Technology
    • Consumer Goods
    • Point of Sales Tracking
    • Point of Sales Analytics
    • Trends and Forecasting
    • United States
    • English

    In GfK hackathon competition, students will create business plan for AI smart speaker

    Undergraduates -- vying for a $5,000 prize -- will develop a business and marketing plan for a smart speaker launch in this year's NextGen Data Science Hackathon Competition

  • Belgium Black Friday sales: 2018 vs 2017
    • 12/04/18
    • Retail
    • Consumer Goods
    • Point of Sales Tracking
    • Trends and Forecasting
    • Belgium
    • English

    Belgium Black Friday sales: 2018 vs 2017

    Black Friday sales in Belgium increased by 31,5% in value and 21,7 % in units this year, compared to Black Friday 2017. The best performing category was IT, with a market share of 29,3%. Online sales increased 48,4% and traditional sales increased 26,9%.

  • UK Consumer Confidence drops three points in November to -13
    • 11/29/18
    • Home Appliances
    • Media and Entertainment
    • Retail
    • Consumer Goods
    • FMCG
    • Trends and Forecasting
    • Consumer Insights Engine
    • United Kingdom
    • English

    UK Consumer Confidence drops three points in November to -13

    GfK’s long-running Consumer Confidence Index decreased by three points in November 2018 to -13.  All five measures used to calculate the Index decreased.

  • GfK’s NextGen Competition: A Hands-On Market Research Experience
    • 11/29/18
    • Financial Services
    • Media and Entertainment
    • Retail
    • Technology
    • Automotive
    • Consumer Goods
    • FMCG
    • Media Measurement
    • Shopper
    • Trends and Forecasting
    • Consumer Life
    • GfK-MRI
    • United States
    • English

    01/17/19 - 01/28/19
    GfK’s NextGen Competition: A Hands-On Market Research Experience

    GfK’s NextGen Data Science Hackathon Competition gives undergraduate student researchers from North American universities a chance to test their marketing and research knowledge and be immersed in the world of consumer data. Using data analysis and integration -- as well as research and marketing savvy -- they address issues critical for today’s marketers. 

  • Beyond Point of Sale Data: Actionable Insights Right Across the Consumer Journey
    • 11/28/18
    • Retail
    • Technology
    • Consumer Goods
    • Global
    • English

    Beyond Point of Sale Data: Actionable Insights Right Across the Consumer Journey

    Understand the four key phases of the journey: purchase trigger, search, moment of purchase and early usage

    Across this series of blog posts, I have explored how the new GfK Consumer Journey Module in our Consumer Insights Engine provides powerful insights on customer behavior for brands in the technology and consumer durables sectors.

    The Consumer Journey module is the first and only solution for manufacturers and retailers in these industries to combine the most comprehensive collection of point of sales data* with:

     

    • Mobile-first survey data
    • Online consumer behavior data
    • AI-enabled consumer review data

     

    With our advanced analytics platform, you can increase your return on investment across marketing, sales, product and category management by:

     

    • Understanding who your customers are.
    • Stimulating demand with your messaging.
    • Optimizing visibility with your marketing channel mix.
    • Becoming the chosen brand in your market.
    • Providing the optimal customer product experience.

     

    We have created this infographic to summarize how the solution enables brands to understand the four key stages of the consumer journey.

     

    Note: *In the US, GfK does not have access to Point of Sale data. US data is calibrated using information gathered from a telephone survey based on probability-based sample representative of both mobile phones and landlines. No retailer data is used in the development of the US offering.

    The examples in the infographic focus on the TV segment in the UK, but our solution covers tech and durables categories in 13 major markets – France, Germany, Italy, Netherlands, Spain, UK, US, Brazil, Russia, China, India, Japan, and South Korea. If you would like more insight into each of the four steps in the customer journey, please look at the previous posts in this series:

    Which consumer needs trigger the start of the purchase cycle?

    Search and evaluation in the consumer journey

    Understand the moment of purchase

    The importance of understanding early usage in the consumer journey

    To see for yourself how our consumer insights can impact your business, why not access our Consumer Insights Engine demo? It will show you, hands-on, how your brand can benefit from insights that go far beyond point of sale data.

     

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  • Mobile Shopping intensifies across APAC: GfK
    • 11/27/18
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • Shopper
    • Singapore
    • English

    Mobile Shopping intensifies across APAC: GfK

    Evolving technology has been transforming the global retail landscape and the way consumers are shopping in the past decade. GfK’s latest FutureBuy report reveals a continuing surge in online shopping across most of the tracked product categories, with 63 percent of consumers agreeing that their mobile device is becoming their most important shopping tool.



  • Beyond Point of Sale Data: The importance of understanding early usage in the consumer journey
    • 11/21/18
    • Retail
    • Technology
    • Consumer Goods
    • Global
    • English

    Beyond Point of Sale Data: The importance of understanding early usage in the consumer journey

    ‘Hygiene and user experience’ factors may affect a customer’s sentiment about a new product as much as its functional characteristics

    Technology and consumer durables brands operate in an increasingly demanding retail landscape, characterized by margin pressure, fiercer competition, shorter product lifecycles and heightened customer expectations. To remain competitive in this challenging environment, retailers and manufacturers need access to both point of sale (POS) data and actionable consumer insights that enable them to make smarter and faster business decisions.

    Over the course of this blog series, I have been looking at how the Consumer Journey module of the GfK Consumer Insights Engine delivers such insights and helps brands to better understand the consumer’s purchase journey. Following my previous post about the moment of purchase, I will this week turn to what our solution can tell you about early usage of a newly purchased tech or durable product.

    Throughout the purchase journey consumers seek reassurance that they are making the right investment, especially on high ticket items such as TV’s. Using the Consumer Insights Engine to look at early usage gives us an insight as to whether or not the journey was ‘successful’ from the consumer perspective, i.e. after all the research, are they satisfied with the choice that they made? If not, it can have a negative impact, not only on their relationship with the brand they bought from, but also on the retailer they purchased from. Especially if the retailer played a highly influential role in the final decision.

    Product managers, retail sales reps, marketers and operations departments can all benefit from knowing what customers think and say about a product once they are actually using it. The Consumer Journey module fuses data from our survey around early product experience and applies semantic analysis to retailer review data.

    I am once again using the UK television market as an example, but our solution covers key consumer technology and durables categories across 13 major territories.

    Our Consumer Journey module shows that UK television brands have an average net promoter score (NPS) of +34; 48% of consumers are happy with their purchase. When you compare this to the average NPS score of +29 across technology and consumer durables product categories in the UK, we can deduct that TV manufacturers are doing an adequate job of meeting consumer demands. However, as always is the case, they could do better.

    With the right insights at hand, they could improve sentiment among the 52% of people who are passive about the products they bought or who are active brand detractors.

    To get to the ‘right insights’ we collect review data from key retailer websites in each of our markets and apply artificial intelligence to provide sentiment-based intelligence into early usage and the product aspects that lead to memorable experiences. This gives us insights into the factors that matter to a UK purchaser who has just started to make use of a newly purchased television. Below outlines the net sentiment scores* for these factors:

    • Value for money (96%)
    • Easy to set up (87%)
    • Great picture (86%)
    • Happy with the purchase (83%)
    • Picture quality (74%)
    • Picture and sound (54%)
    • Easy to use (21%)
    • TV looks amazing (17%)
    • Sound bar quality (11%)

    (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for the TV category in multiple markets)

     

    If you browse back to my previous post, you’ll see that functional factors such as size and product dimensions were key drivers of the consumer’s purchase earlier in the customer journey. However, once the consumer takes a brand-new television home, practical user experience and hygiene factors such as ease of set-up, connectivity with other products, and the smart TV capability all become an important part of their experience with the product.

    As the low net sentiment for ease of use and aesthetics shows, brands should pay as much attention to the out of the box experience as they do to functional qualities such as screen size or support for UHD and HDR.

    Picture and sound get the second highest number of mentions in product reviews. However, it is important to note that one in five (20%) of these reviews are negative. This highlights the importance of the performance of these factors to the UK purchasing consumer.

    It’s also interesting to see how low net sentiment is around the quality of the sound bar.  This indicates that this particular function is polarizing among consumers. When brands get it wrong, it reflects badly on them. However, when they get it right, it can create a great deal of positive sentiment about their product.

    The combination of early usage survey data and sentiment-based analysis of review data in the GfK Consumer Insights Engine allows brands and retailers instant access to deeper insights that give a more complete understanding of consumer’s purchasing decisions, their experiences against those decisions, and how that reflects on their brand.

    I invite you to look at our Consumer Insights Engine demo to see for yourself how it combines POS data with market research, and online consumer behavior data to offer you on-demand access to insights you can apply in your business.

     

    *Net sentiment (net positive) is the positive scores minus the negative scores providing you with a more realistic view of the market. It’s designed to avoid over inflation and acknowledge any negatives.

     

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  • Map of the Month: GfK Purchasing Power, Europe 2018
    • 11/15/18
    • Fashion and Lifestyle
    • Financial Services
    • Industrial Goods
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • Energy
    • Geomarketing
    • Geodata
    • Picture of the month
    • Global
    • English

    Map of the Month: GfK Purchasing Power, Europe 2018

    GfK's Map of the Month for November shows the distribution of purchasing power across Europe in 2018.

  • Go Beyond Point of Sale Data: Understand the Moment of Purchase
    • 11/14/18
    • Retail
    • Technology
    • Consumer Goods
    • Global
    • English

    Go Beyond Point of Sale Data: Understand the Moment of Purchase

    Truly understand the every factor that influences consumers’ final decision at the moment of purchase.

    To make optimal decisions about product selection, retailer and manufacturer partnerships, and marketing, retailers and manufacturers in the technology and consumer durable sectors both need a holistic view of point of sales data and consumer behaviour. Having looked at how our GfK Consumer Journey solution helps brands to understand how consumers research a purchase in my previous post, I shall now turn my attention to the insights it offers into the moment of purchase.

    Brands want to know where, how, and why consumers purchase products, so that they can make smart decisions about retailer partnerships, product selection and development, and marketing and promotions. Retailers, meanwhile, need to understand how they are performing in different channels (in-store and digital), as well as which brands and models sell best and why. Manufacturers and retailers alike also want insights into competitor performance and partnerships.

    Powered by the GfK Consumer Insights Engine, GfK Consumer Journey offers technology and consumer durables manufacturers a full view of the online and offline consumer purchase journey. This enables them to answer key business questions such as:

    Lost shoppers: How many shoppers did we lose during the purchase journey and what is the size of this lost opportunity? Who are these shoppers? Which competitive brands or retailers did we lose out to and why?

    Partnership opportunities: Which retail or manufacturer brands should we partner with? Which retailers or brands could offer access to unique customers? Which competitive brands or retailers attract the same consumer profile as we do?

    Channel conversion: What are my channel conversion rates? How can I improve them? What role does each channel play in the consumer journey?

    As a subscriber to the Consumer Journey module, you can use the Consumer Insights Engine to get instant access to insights that will allow you to answer your key business questions. To provide you the data that leads to trusted and actionable consumer insights, we seamlessly integrate multiple data sources into this advanced analytics platform: global sales data*, consumer research, behavioural data, and AI-enabled review data.

    The data visualized below is pulled from a cross-market analysis of the TV category using the Consumer Insights Engine and is used to answer many important questions our clients are asking about the moment of purchase.

    (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for the TV category in multiple markets)

     

    As the data above illustrates, our solution provides a coherent view of – and granular detail about – the consumer’s purchase journey and the factors that influence his or her final purchase decision to equal granularity across participating markets. For a multinational manufacturer operating in multiple markets across Europe it is interesting to know that, when compared to France, a high number of recent TV purchasers in the Netherlands purchased a 4K UHD TV. This data informs the marketing team that messaging around this feature should resonate in this market. When this data is coupled with data identifying that 724,661 TVs were sold in this period in the Netherlands (fig2), it can begin to inform other business units within our clients’ organisations, such as supply chain and logistics. This total market view of units sold is achieved through our calibration with actual point of sales data*.

    Fig2. (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for the TV category in multiple markets)

     

    Taking a look at brand loyalty in the UK is another practical example of the value of insights derived from this data. Understanding how little brand loyalty consumers in the UK have compared to other major markets might prompt a manufacturer to focus its efforts on new customer acquisition rather than retention in this market.

    Our solution covers 13 major markets – France, Germany, Italy, Netherlands, Spain, UK, US, Brazil, Russia, China, India, Japan, and South Korea. Thus, multinational brands can not only get insights into national markets, but also compare brand performance and consumer behaviour across multiple territories.

    Check out our online Consumer Insights Engine demo to understand more about how it works against specific business questions. Find out how to get actionable business insights at speed that go beyond point of sale data and help you get inside the mind of your consumers.

    Note: *In the US, GfK does not have access to Point of Sale data. US data is calibrated using information gathered from a telephone survey based on probability-based sample representative of both mobile phones and landlines. No retailer data is used in the development of the US offering.

     

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