What does 2022 have in store for the market research industry?

Like we’ve always said, market research is a process. And 2021 has been one of the milestone years in this process for everything from emotive surveys to social listening came into play only leaving the industry on a pedestal.

What becomes an imperative question now is, will these trends amplify in 2022? Also, what are the new trends that might take over the industry in the coming year?

Let’s find out!

1- Striking a perfect balance between people and technology

While artificial intelligence, technology, and automation assist market research teams in processing large volumes of data, shortening research project timelines, democratising insights across stakeholder groups, and driving decisions, AI also enables insights professionals to influence more than just marketing decisions across the business.

By 2022, insights leaders will have accelerated the adoption of insights across functional areas and transformed the organisation into a truly insights- and marketing-driven culture.

2- Social Listening gaining wide importance

While social listening is the practice of monitoring and analysing social media conversations about a brand or industry–is not new in the world of market research, it may become a more popular approach to customer understanding at a time when the average internet user spends nearly two and a half hours per day on social media.

3- More User-Generated Content will come into play for data sourcing

With consumer concerns about data privacy growing, market researchers must prioritise data collection from users who have explicitly opted in. Market researchers will accomplish this in a variety of methods, one of which is by encouraging the exchange of user-generated material.

4- Increased focus on LGBTQ+ Research

As a rising population with over one trillion dollars in spending power, the LGBTQ+ community can no longer be neglected in market research. Researchers can make a mistake by pursuing the LGBTQ+ community as a monolithic entity.

In actuality, they are a highly diverse group of individuals with a variety of backgrounds, views, and lives. It is critical to comprehend the intersectionality of contemporary identities.

5- Taking into account the Gen-Z population

Younger generations (especially Gen Z) have higher expectations of brands than the traditional suspicions of great quality and low prices. Specifically, younger generations are on the lookout for brands that demonstrate authenticity, transparency, and sustainability!

Additionally, social media has a growing influence on the purchasing decisions of younger consumers.

From a growing emphasis on inclusivity and empathy to the implementation of cross-team insights sharing tools, the developments in market research today have the potential to alter the industry.

We’re looking forward to seeing what 2022 and the years ahead bring for the research space! Are you?