Möchten Sie zur deutschen Seite wechseln?JaNeina
Close

Insights

clear all filters
    • 06/15/18
    • Media and Entertainment
    • Retail
    • Technology
    • Global
    • English

    How to win the world cup with price and promotions

    A major sporting event offers a fantastic opportunity for manufacturers and retailers to take advantage of an increase in Television viewing and general spending amongst fans. No other event offers a greater opportunity than the FIFA football world cup.

    The ‘World Cup’ effect

    With the tournament kicking off in Russia this month, May and June represent crucial months for sales in the UK TV market. Our forecast is that 814,000 TV’s will be sold in the UK over these two months – an increase of over 20% against the same period in 2017. To win the lion’s share of this opportunity, TV manufacturers and retailers are focusing hard on competitive pricing and promotional activity to entice shoppers.

    ‘Bigger and better’ line-up to combat falling unit sales

    World Cup themed promotions are very evident online, with a large number of major retailers pushing promotions and football themed messaging on both category and product web pages.

    In addition, many are focusing on premium ranges, with promotions of larger screen sizes (55+ inches) and the latest high-resolution technologies (4K/UHD), to bring the stadium atmosphere in to the living room. In a market that has been showing a steady decline in the number of units sold over the last years, this strategic focus on promoting higher-end products can deliver increased margin levels and profitability.

    Throughout May 2018, the average selling price (ASP) of a 55 inch 4K/UHD TV was over £1000. Although this is still a significant outlay for the consumer, it is 23% lower compared to last year. We have also seen similar ASP decreases with other screen sizes, such as the 43-49 inch category, which is, on average, 15% cheaper in May this year than a year ago.

    So overall, we are seeing a market focus on promoting higher specification units at a price that makes them a more affordable proposition for customers looking for an upgrade.

    Online specialist retailers leading the promotions field

    On the day of writing, the average TV retailer has 54% of its range on promotion. Within that, the online specialist retailers are showing the largest offers for UK shoppers, with retailers, on average, offering promotional cuts of 21%, whereas major high street retailers are offering 11%.

    Summary

    Discounts on larger screen TVs and the latest display technologies look set to bring the World Cup experience closer to home for UK football fans – but will more TV sales move online this month? And will World Cup promotions help to drive growth of over 20% against last year? Watch this space for our next update.

    To find out more, please contact Barry Meacher at Barry.Meacher@gfk.com or Daniel Wellman at Daniel.Wellman@gfk.com

    Source: GfK Online Pricing Intelligence (OPI) – May – June 2017 and 2018 and GfK’s ‘The World Cup & TV sales – What’s the real impact?’

  • GfK Health expert featured in British Journal of Dermatology
    • 06/06/18
    • Health
    • Global
    • English

    GfK Health expert featured in British Journal of Dermatology

    A multidimensional assessment of the burden of psoriasis: results from a multinational dermatologist and patient survey

    • 06/05/18
    • Retail
    • Global
    • English

    Redefining forecasting

    The rapid evolution of technology combined with fast-changing consumer behavior means consumers, not retailers or manufacturers, are the driving force in today’s economy. They create the appetite for products, and shop for them using the very latest tech, making the traditional models of supply and demand redundant. So how can retailers and manufacturers ensure they get the right products in front of the right customers at the right time? Firstly, businesses must radically re-evaluate their approach to forward planning.

    Helping you predict future demand for your products

    In our customer centric economy, both brands and retailers must perfect the art of sales planning. The challenge is to accurately predict future demand of both existing and new products.

    Agility and adaptability are key. Armed with the right insights, businesses can predict consumer demand, and position themselves to meet the expectations of increasingly demanding consumers. We have three basic principles of forecasting:

       

    1. Continuitycontinuous, up to date forecasting
    2.  

    To be accurate, forecasting needs to be a continuous process. Customers don’t stand still, and neither should your forecasting. For some industries, a daily flow of live information can deliver competitive advantage. Durables, which have no “expiry” dates are ideally suited to monthly insights. Updating forecasts monthly means they remain relevant and reflect the latest market situation. Market events such as sales promotions are reflected in these timely predictions.

       

    1. Accuracy – a solid foundation for forward planning
    2.  

    The accuracy of your forecast will depend entirely on the quality of the data upon which it is based. Shipment data or expert interviews, which have traditionally formed the basis of forecasts, have little to offer by way of accuracy as they are typically biased and don’t reflect actual demand.

    Basing forecasts on real sales data has a transformative effect on the reliability of the predictions. Objective, up-to-date data combined with ongoing monitoring represents best-in-class forecasting.

       

    1. Granularity – getting the right level of detail
    2.  

    The ideal forecasting solution offers scalability and flexibility, from overall country and product group coverage to price band and channel. You want both big picture and more detailed information. Using point-of-sales data enables you to enjoy the best of both worlds. This breadth of data provides the opportunity to uncover the growth opportunities, even in the most challenging markets, for instance in static or declining sectors.

    We believe that forecasting needs to have enough flexibility to offer the correct level of detail required to uncover the hidden growth opportunities.

    Summary

    With technology and consumer behavior changing at such a rapid rate, success depends upon the ability to anticipate and respond to future consumer demand. Empowered with this information, businesses that are agile and flexible have the best chance of fulfilling those demands. Continuous, accurate and objective forecasting data will be key to success.

    Choosing the right forecasting can be the difference between success and failure.

    hbspt.cta.load(2405078, '6821d097-d4d5-44a0-ab5b-03eba7b05389', {});

     

  • Redefining forecasting
    • 06/05/18
    • Retail
    • Technology
    • Trends and Forecasting
    • Global
    • English

    Redefining forecasting

    Download our whitepaper and discover the three most important factors for spot-on forecasting: continuity, accuracy, and granularity. It’s your guide to getting it right. 

    • 06/05/18
    • Technology
    • Trends and Forecasting
    • Global
    • English

    In the fourth industrial revolution, customers remain king. What about workers?

    There is no doubt we are in the midst of a fourth industrial revolution – one in which digital technology is more than just an accessory. We are past simply talking about the internet as a business enabler; instead, we are seeing the lines between the physical, biological, and digital worlds begin to blur. AI and automation are being integrated into the very fabric of our lives, as workers and consumers, such that we may not know when we are talking to a real person on the phone as in the case of Google Duplex, or whether the competition for our next job is human or android.

    This is also a time marked by hugely accelerated change. Twenty years ago, smartphones and social media did not exist, and “digital targeting” was something you did in a video game. (Who remembers “Monkey Ball”?) There is no sign that this speed of revolution will let up.

    According to research by GfK Consumer Life, many Americans agree that change is good, and that we need more of it – a sentiment that has dramatically increased since 2011. Technology is boosting efficiency and productivity, giving employees room to focus on more valuable tasks; but it can also be so effective that it makes humans expendable. Many of the jobs our children will hold do not exist yet; and many of today’s jobs are destined to become obsolete. Some argue however that AI will generate more jobs than it will kill.

    So how can we prepare for this uncertain future, as workers and concerned consumers?

    New generations, new expectations

    At the World Economic Forum this year, Alibaba founder Jack Ma stressed the values of creativity and emotional IQ as critical to human success when competing with machines for the jobs of tomorrow. A new focus on future education and training will also be critical to prepare workers; this means re-training and re-skilling the current workforce to ready them for the changing environment.

    There is also no doubt that the workforce itself will be much different from today. Looking at the youngest segment of American consumers – known alternately as the Now Generation, post-Millennials, Gen Z, Centennials, or the iGen – we see that these future employees represent the most diverse generation in US history (according to the US Census Bureau).

    Compared to Millennials when they were the same age, this young generation is also highly ambitious. Being creative and imaginative is one of their core values, and technology is seamlessly embedded in their everyday lives. This means that they are tailor made for the flexible workplace, whether its self-motivated entrepreneurship or working at a distance for a traditional company.

    According to GfK MRI research, roughly 12.9 million US employees (employed either full or part time) report working primarily from a home office – up from 10.7 million just a decade ago. And GfK Consumer Life data shows that roughly 1 in 2 Americans want to work for themselves, with some of the prime reasons including the ability to be one’s own boss and flexibility in schedule and location.

    But this flexibility may come at a price – a loss in job security. We might see more companies leverage AI to match employees with gig jobs in real time; platforms like Working Not Working  already match freelancers and creative talent for various assignments. But there are often no benefits and no guarantees about tomorrow with such situations.

    When workers become consumers

    As consumers, we can now be targeted with offers so specific to our needs that we wonder if Google and Facebook can read our minds. Customization is no longer a perk, but a must-have, and consumers today are empowered to find the right products at the right prices as never before. Over 60% of Americans say they spend quite a lot of time researching brands before making a major purchase, thanks to real-time access to product information.

    AI and robotics will continue to streamline the processes that deliver speed and value to consumers – and put growing pressure on traditional retailers to compete on price, convenience, and customer service. This may mean that there will be fewer of the retail jobs we already know, but also potentially a variety of opportunities that we cannot yet imagine.

    The streamlining of tech devices working together to deliver seamless experiences is also something we might see replicated in the way businesses operate, with an increase in partnerships and collaboration to create new, unique consumer experiences. As digital devices enable communication in more and more ways, the hurdles that prevent co-working will slowly disappear.

    This even applies to intercontinental business. Internationalism – learning about other people, cultures and equality – is among the differentiating values for the youngest consumers (the Now Generation), when compared to Millennials at the same life stage. Working with people in different cultures, environments and time zones will be a huge benefit for tomorrow’s workers – and likely a source of added competition in some cases.

    The worry factor

    In all of this, a key factor for workers and consumers is privacy. As news reports of hacked corporate databases have mounted, anxiety among digital consumers has grown. The youngest generations are by far the most concerned about the security of their personal information – and, perhaps in a related point, also more environmentally conscious. Doing things the right way will be a must for companies that want to earn and keep consumer trust; these concerns will be every employee’s responsibility in workplaces of tomorrow.

    So where is this fourth industrial revolution leading us? Today’s world is just the tip of the iceberg – but it is surely an exciting time to see technology and its effects on many areas of our lives, as products and business models become more fluid. Consumers remain king – but workers may not always get the royal treatment. As employers and employees, we need to be sure we see tomorrow as clearly as possible – and start to take action today!

    hbspt.cta.load(2405078, 'f959b7ac-800c-45ab-bd5f-350e588da27a', {});

  • GfK rises in ranking of innovative MRX companies
    • 05/31/18
    • Technology
    • Consumer Panels
    • Trends and Forecasting
    • Global
    • English

    GfK rises in ranking of innovative MRX companies

    GfK has once again placed among the most innovative market research firms, according to an annual ranking published by the American Marketing Association’s New York chapter.

  • UK Consumer Confidence rises two points to -7 in May
    • 05/31/18
    • Retail
    • Market Opportunities and Innovation
    • Shopper
    • Trends and Forecasting
    • Global
    • English

    UK Consumer Confidence rises two points to -7 in May

    Contrasting views on personal finances versus the wider UK economy continue to keep GfK's overall Consumer Confidence Index Score in negative territory.

  • Map of the Month: Fashion’s share of retail turnover, Europe 2017
    • 05/24/18
    • Fashion and Lifestyle
    • Retail
    • Geomarketing
    • Geodata
    • Picture of the month
    • Global
    • English

    Map of the Month: Fashion’s share of retail turnover, Europe 2017

    The fashion segment enjoyed a 13.5% share of the EU-28's total stationary retail turnover in 2017.

  • Slight decline in consumer climate in Germany
    • 05/24/18
    • Retail
    • Consumer Goods
    • Global
    • English

    Slight decline in consumer climate in Germany

    Findings of the GfK Consumer Climate Study for May 2018

  • Intellus Philadelphia 2018: A report from the inaugural conference
    • 05/22/18
    • Health
    • Global
    • English

    Intellus Philadelphia 2018: A report from the inaugural conference

    A fresh angle on customer centricity… featuring empathy and deep understanding.

    At Intellus in Philadelphia this May, the PMRG and PBIRG attendees focused almost exclusively on patients, offering an even deeper understanding of patients’ needs, their varied contexts and their experience as participants in research. The conference was an hour-by-hour reminder of the reason why we are in this business: our patients. And they were featured prominently in keynote addresses and discussion groups. A new “demo zone” featured bite-sized vignettes of technology and analytics that apply to patient/caregiver feedback, with many having clear application to physicians and payers as well.

    What it takes to put patients at the center

    It is easy to talk about putting patients at the center. Intellus actually did it. The main sessions featured patients, with the “Advocacy of Hope” keynote, featuring and moderated by rare disease patient advocates (themselves either patients or caregivers). We heard the perspective of patients, as well as gained insights into the dynamics of creating and leading patient advocacy forums. Over the last three decades, we, as marketing researchers, have learned from customer-centricity success stories (many of which are non-healthcare) about what it takes to become sustainably customer centric: It requires leadership that cares about the customers. Leadership must develop true empathy and a deep understanding of their customers’ needs. While pharma companies have always cared about the patients, what is new is that they have started to place them front and center in their strategies. We had proof of this at Intellus, as we heard patients talk about their personal challenges, how their disease impacts their lives and the role that support organizations play in managing the diseases.

    Understanding patients with rare diseases

    As researchers, we also heard the perspective of rare patient advocacy leaders — information that can help us recruit rare patient populations to studies, and gleaned tips (e.g., transparency) for the best way to conduct research in their communities. We want to learn without doing damage, and the conference delegates shared tip after tip on how to do exactly that. Some delegates led a deep-dive discussion into the needs of patients with rare diseases, with a clear message on how empathy helps them harness patient panels.

    Enabling patient centricity with technology, analytics and insights

    Technology and analytics from the “demo zone” revealed new techniques, such as GfK Health’s virtual reality tool that taps System 1 reactions (Daniel Kahneman’s behavioral economics) in patient-expert interactions. Virtual reality emerged elsewhere as well, with HRW sharing results from an R&D study comparing different approaches to measuring reactions to patient profiles. Analytics ranged from dashboards mapping patient types, to social conversation dashboards, to generalized influence networks.

    What next steps need to be taken

    Pharma is focusing again on digital and customer centricity. We saw an early phase of this in 2008-2010 that included quick investments, followed by the rapid refocusing of assets. The current phase is, for at least some companies, exhibiting features of this two-pronged approach that has been proven to work. Customer centricity is focusing on the most relevant customers, including patients, as featured in Intellus, but also extending to providers and payers – with a spotlight on creating true value that will lead to the commercial success needed to fund the customer experience (CX) focus. This season’s conferences have once again pointed the world of health in the right direction. Now we will see if they follow through, and include the requirements for CX success in their initiatives.

    This article was co-authored by Cheryl Mulherin

    To share your thoughts, please email tom.hartley@gfk.com, cheryl.mulherin@gfk.com or leave a comment below.

  • Stationary retail in Europe to grow by 2.1 percent in 2018
    • 05/22/18
    • Press
    • Fashion and Lifestyle
    • Retail
    • Consumer Goods
    • Geomarketing
    • Geodata
    • Global
    • English

    Stationary retail in Europe to grow by 2.1 percent in 2018

    GfK anticipates a 2018 nominal turnover growth of +2.1 percent for stationary retail in the 28 EU member states. But trends within the individual countries under review vary widely.

  • UK digital radio hits listening milestone: Time to turn off analogue FM or not?
    • 05/17/18
    • Media Measurement
    • Global
    • English

    UK digital radio hits listening milestone: Time to turn off analogue FM or not?

    UK radio reached a significant milestone on 17 May 2018 when the RAJAR Q1 2018 listening figures were published. For the first time, over half (51%) of all weekly radio listening was via a digital platform, such as DAB (Digital Audio Broadcasting), online or through digital TV. In other words, more radio listening is now done through digital means than through analogue on FM.

    Why is this figure important?

    In 2009, the UK Government published its criteria for turning off the analogue FM signal and having only digital broadcast. Those were:

    • When 50% of listening is to digital; and
    • When national DAB coverage is comparable to FM coverage, and local DAB reaches 90% of the population and all major roads

    The Government’s intention was for these criteria to be met by the end of 2013, pushed by an industry ‘drive to digital’. Without this ‘drive to digital’, they expected digital radio listening to reach 50% organically by 2015.

    In fact, it has taken until 2018. The DAB standard for broadcasting digital audio services has been around in the UK since 1995, so one could say the 50% listening threshold has taken the UK almost 25 years to reach. Ultimately, the timetable was dictated by the listener.

     

    Although the UK has now (just) crept past this specific Government criterion, the UK has, in fact, already embraced digital radio.

    In an average week, well over half of the UK population (63%) do listen to some radio via digital means (known as ‘weekly reach’) – and our GfK data show that DAB radio set sales have declined by 26% in the last five years because most people have already replaced some or all of their analogue sets; or are listening through other digital means such as the Radioplayer app or ‘Alexa’.

    What happens now?

    Theoretically, the Government should now trigger the two-year migration process for turning off the FM signal by 2020. This feels unlikely. Both the public service (BBC) and commercial radio broadcasters prefer nothing to happen for the time being and to continue broadcasting on FM, as well as digital. This aversion to disrupting the market is felt especially in commercial radio, as they enjoy a relative buoyant period for advertising expenditure.

    The UK, and many other countries, will also be keenly observing listening trends in Norway, which underwent a digital radio switchover in 2017. Radio listening figures published so far in 2018 show an initial dip in overall listening followed by signs of a recovery. It has also benefitted the smaller and new stations to digital, who have captured around a third of all listening, and brought more choice to the Norwegian listener.

    Our forecast for the UK market: from collecting data to connecting data

    We believe that we’ll see plans put in place to gradually phase out analogue FM radio broadcasting; this is something the Swiss radio industry wants to happen in their market from 2020. This slow migration would suit a number of local stations whose share of digital radio listening is below 50% and who therefore, understandably, are not keen on losing the majority of their listening.

    This landmark digitization of radio may also provoke some movement in how radio audiences are measured. With more listening happening digitally, so the volume and granularity of listening data that can be captured increases.

    The emphasis will shift from collecting data to connecting data, such as online streaming or consumer behavior. GfK are already harnessing big (and small) datasets in several markets, such as the Measurement Innovation Program in Australia for radio, and integrating TV and online viewing in Sweden. As different markets operate at different speeds in their digitization journeys, so we recognize that media measurement needs to be tailored accordingly to maximize the value of the audience data to the stakeholders.

    Whether the FM signal gets turned off or not in the short term, this is a moment for celebration for the UK radio industry and for Digital Britain, and opens up exciting new opportunities for radio stations, for radio audience measurement and, most importantly, for the radio listener.

    John Carroll is Global Director Business Development, Media Measurement at GfK (@MediaCarroll)

General