1. Consumer Research Industry Status

Consumer research refers to the process of collecting and analyzing consumer information through various methods and tools in order to provide a basis and recommendations for marketing decisions. The purpose of consumer research is to address four basic questions in marketing: Who is our target market? What do they need? How do they buy? Why do they buy?. The methods and tools of consumer research mainly include the following:

Questionnaire: Through the design and distribution of a series of questions, to collect consumer opinions and feedback, and then statistics and analysis. Questionnaire survey is one of the most commonly used methods in consumer research, which can obtain a large amount of data and is suitable for quantitative research. The forms of questionnaire survey include paper questionnaire, telephone questionnaire, network questionnaire and so on.

Interviews: Through face-to-face or remote conversations with consumers, in-depth understanding of consumers' thoughts and feelings, and then summarized and summarized. Interviewing is one of the most commonly used methods in consumer research, which can obtain in-depth data and is suitable for qualitative research. The forms of interviews include individual interviews, group interviews, and expert interviews.

Observation: Recording and analyzing consumer characteristics and patterns by observing consumer behavior and environment, either directly or indirectly. Observation is a special method in consumer research, which can obtain objective data and is suitable for descriptive research. The forms of observation include natural observation, experimental observation, covert observation and so on.

Experiment: Through certain stimulation or intervention on consumers under controlled conditions, observe and measure consumers' reactions and results, and then infer and verify them. Experiment is a more complex method in consumer research, which can obtain causal data and is suitable for explanatory research. The forms of experiments include laboratory experiments, scene experiments, and field experiments.

Consumer research industry status can be summarized from the following aspects:

Market size: The market size of consumer research has continued to grow in the past few years and is expected to continue to grow in the next few years. According to the Global Alliance for Market Research (ESOMAR), revenue from global market research reached $81.2 billion billion in 2019, up 6.3 percent from 2018. Among them, consumer research accounts for the main share of market research, about 70%. In 2020, revenue from global market research fell by 8.1 percent to $74.6 billion due to the new crown epidemic. However, as the epidemic eases and the economy recovers, global market research revenue is expected to grow again to $78.5 billion in 2021 and over $80 billion in 2022.

Market structure: The market structure of consumer research shows the characteristics of diversification and decentralization, and consumer research institutions of various types and sizes have a certain market share. According to ESOMAR's report, in 2019, 47% of global market research revenue came from the top 25 largest market research institutions and 53% from other market research institutions. Among them, the types of consumer research institutions include global large-scale comprehensive institutions (such as Nielsen, Condé Nast, Ipsos, etc.), regional small and medium-sized professional institutions (such as Champ Consulting, Bona Consulting, Booz Allen, etc.), and emerging innovative institutions (such as Zappi, Qualtrics, SurveyMonkey, etc.).

Market demand: The market demand for consumer research mainly comes from companies and organizations in various industries and fields. They need consumer research to support their marketing decisions and execution. According to ESOMAR's report, in 2019, 32% of global market research revenue came from the consumer goods industry, 16% from the medical and pharmaceutical industries, 14% from the financial and insurance industries, 11% from the media and entertainment industries, 10% from the retail and e-commerce industries, 8% from the public and social industries, and 9% from other industries. The needs of consumer research are mainly concentrated in the following aspects: consumer insight, brand management, product development, market analysis, advertising effectiveness, customer satisfaction, user experience, etc.

Trends in 2. Consumer Research

The development trend of consumer research is influenced by the development of science and technology and the change of consumer behavior, mainly in the following aspects:

The quality of data and the depth of analysis: the quality of data and the depth of analysis of consumer research is one of the core elements of consumer research, which determines the value and credibility of consumer research. With the explosive growth of data, the sources and types of data for consumer research are becoming more and more diverse, including traditional structured data (such as survey data), emerging unstructured data (such as social media data), and mixed semi-structured data (such as user experience data). These data not only need to be effectively collected and collated, but also need in-depth analysis and mining to discover consumer insights and rules. Therefore, the quality of consumer research data and the depth of analysis will become an important development trend of consumer research. Consumer research institutions and experts are required to continuously improve their data capabilities and analysis capabilities, and use advanced data science and statistical methods. And technology to improve the accuracy, validity, reliability and usefulness of consumer research data.

The consideration of consumer's emotion and experience: the consideration of consumer's emotion and experience in consumer research is another core element of consumer research, which determines the closeness and utility of consumer research. With the improvement of consumers' needs and expectations, consumers not only pay attention to the function and performance of the product or service, but also pay attention to the emotion and experience of the product or service, that is, whether the product or service can bring pleasant feelings and satisfactory experience to consumers. Therefore, the consideration of consumers' emotions and experiences in consumer research will become another important development trend of consumer research. Consumer research institutions and experts are required to continuously expand their perspectives and scope of emotions and experiences, and use innovative emotions. And experience methods and tools to evaluate and optimize consumer emotions and experiences.

Diversification and intelligence of methods and tools: The diversification and intelligence of consumer research methods and tools is one of the most significant trends in consumer research, which determines the efficiency and effectiveness of consumer research. With the development of science and technology and the change of consumer behavior, the methods and tools of consumer research are constantly innovating and optimizing to meet the new needs and challenges of consumer research. The diversification and intelligence of consumer research methods and tools are mainly manifested in the following aspects:

Big data: Big data refers to massive, diverse, fast, and valuable data, which can be obtained from various channels and platforms, including social media, e-commerce, mobile devices, and the Internet of Things. Big data provides a wealth of data sources and data types for consumer research, which can reflect the real, real-time, and comprehensive information of consumers, thereby improving the quality of consumer research data and the depth of analysis. At the same time, big data also puts forward new requirements and challenges for the collection, storage, processing, analysis and visualization of consumer research data, which requires consumer research institutions and experts to use big data technology and platform to improve the efficiency and effect of consumer research data.

Artificial intelligence: Artificial intelligence refers to the intelligent behavior performed by computer systems or machines, which can simulate and surpass human cognition, learning, reasoning, decision-making and other abilities. Artificial intelligence provides powerful data analysis and mining capabilities for consumer research, which can discover consumer insights and laws from a large amount of data, thereby improving the quality of consumer research data and the depth of analysis. At the same time, artificial intelligence also provides the ability to interact and communicate with consumers. It can realize the automation and intelligence of consumer research through natural language processing, speech recognition, image recognition, emotional analysis and other technologies, so as to improve the efficiency and effect of consumer research.

Social media: Social media refers to Internet-based, user-centric, social and interactive media and platforms. It allows users to create, share, comment, forward, like and other forms of content, including Text, pictures, video, audio, etc. Social media provides new data sources and data types for consumer research, which can reflect consumers' subjective, emotional, and social information, thereby improving the quality of consumer research data and the depth of analysis. At the same time, social media also provides new channels and ways to interact and communicate with consumers. Through social networks, communities, forums, blogs, Weibo, WeChat and other platforms, consumer research can be diversified and personalized. Improve the efficiency and effectiveness of consumer research.

Virtual reality: virtual reality refers to the use of computer technology to create a simulated, immersive, interactive three-dimensional environment, so that users feel immersive, free to explore and operate. Virtual reality provides new data sources and data types for consumer research, which can reflect consumer behavior, experience, and situational information, thereby improving the quality of consumer research data and the depth of analysis. At the same time, virtual reality also provides new channels and ways to interact and communicate with consumers. Through head-mounted displays, handles, gloves, trackers and other devices, the reality and experience of consumer research can be realized, so as to improve the efficiency and effect of consumer research.

Advantages and Cases of 3. Shangpu Consulting in the Field of Consumer Research

Shangpu Consulting is a professional consumer research organization, founded in 2010, headquartered in Beijing, with global business and customers. Shangpu Consulting has rich experience and excellent team in the field of consumer research, which can provide customers with high-quality and efficient consumer research services. The advantages and cases of Shangpu Consulting in the field of consumer research are mainly reflected in the following aspects:

Data platforms and data warehouses that collect and organize large amounts of consumer data from a variety of channels and platforms, including structured, unstructured, and semi-structured data. Shangpu Consulting also has its own data analysis and mining team and tools, which can discover consumer insights and laws from massive data, and provide in-depth data reports and recommendations. The quality of the data and the depth of the analysis of Champs Consulting have been unanimously recognized and praised by customers. For example, Shangpu Consulting once provided consumer research services for a well-known automobile brand. Through the collection and analysis of data on consumers' car purchase behavior, car purchase motivation, car purchase preference, car purchase satisfaction, etc., it helped the brand optimize marketing decisions in product design, pricing strategy, promotion activities, channel management, etc., and increased market share and brand image.

Consideration of consumer's emotion and experience: Champ Consulting pays attention to the consideration of consumer's emotion and experience in consumer research, and uses innovative methods and tools of emotion and experience to evaluate and optimize consumer's emotion and experience. Champ Consulting has its own emotional and experience laboratory and equipment, which can measure and analyze the changes and influencing factors of consumers' emotions and experiences through physiological indicators such as eye tracker, electroencephalogram, galvanic skin response, heart rate variability, and behavioral indicators such as facial expressions, voice intonation, and gestures. Champ Consulting also has its own experts and consultants on emotions and experiences, who can understand and explain the connotation and meaning of consumers' emotions and experiences through emotional maps, emotional curves, emotional diaries, emotional stories and other methods. The emotional and experiential considerations of consumers of Champ Consulting have been highly recognized and appreciated by customers. For example, Champ Consulting once provided consumer research services for a well-known hotel chain. Through the measurement and analysis of the emotion and experience of consumers' hotel stay experience, it helped the chain optimize the marketing implementation of the hotel's service quality, environmental atmosphere, room facilities, membership plan and other aspects, and improved customer loyalty and recommend.

Diversification and intelligence of methods and tools: Shangpu Consulting focuses on the diversification and intelligence of consumer research methods and tools, and uses big data, artificial intelligence, social media, virtual reality and other technologies to improve the efficiency and effectiveness of consumer research. Champ Consulting has its own big data and artificial intelligence platforms and tools, which can obtain and analyze consumer data from various channels and platforms, including social media, e-commerce, mobile devices, and the Internet of Things. Shangpu Consulting also has its own social media and virtual reality platforms and tools, which can conduct diversified and personalized interactions and communication with consumers, including social networks, communities, forums, blogs, Weibo, WeChat, etc. The diversity and intelligence of Champ Consulting's methods and tools have been widely recognized and supported by customers. For example, Shangpu Consulting once provided consumer research services for a well-known cosmetics brand. Through the use of social media and virtual reality technology, consumers were allowed to try and evaluate various cosmetics of the brand in a virtual dressing room. Collect and analyze consumer data to help the brand enhance its product awareness and reputation.