NEWS27 June 2013
UK — The UK research industry remains fragile but seems to be moving in the right direction, according to the findings of the Market Research Society’s annual survey.
MRS surveyed 63 agencies, all company partners of the society with a combined turnover of £900m. Together, they reported a revenue decline of 2% in the 12 months to December 2012 – however, this is an improvement on the decline of 3.5% seen in 2011.
Domestic revenue, accounting for two-thirds of turnover, was down 3%, while international revenue was “treading water at 0.3%”, the MRS said.
Chief executive Jane Frost (pictured) commented: “It is encouraging to see financial improvements since the last annual survey as our company partner research agencies work their way back to growth. Spend from public sector sources has increased back to 2010 levels after slackening in 2011; an indication that market and social research goes beyond commercial means and all organisations can benefit from using reliable evidence to make the right decisions.”
MRS said that a majority of those surveyed anticipate revenue growth in their organisation to be ahead of UK economic growth in general by the end of the year.
Figures published earlier this month showed the US research market up 1.7% last year, but down 0.4% when adjusted for inflation.