As organisations chart their growth and enter new markets, market research can assist them with these goals through data-driven insights. Market research plays a pivotal role in identifying market trends, uncovering competitive advantages, and discovering consumer intent and behaviours. This helps brands make better decisions based on data. 

Therefore, market researchers are increasingly turning to technology to improve data collection methods, research processes, and consumer insights presentations. Technology allows researchers to reduce costs, boost productivity and increase efficiencies in all primary functions. 

Machine learning and artificial intelligence are at the forefront of technological breakthroughs transforming the market research industry. These and other technologies allow more efficient and meaningful data collection and analysis. 

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Let’s take a closer look at the most important technological trends in market research.

  1. Artificial Intelligence (A.I.)

Artificial intelligence (A.I.) is the ability of a computer or a computer-controlled robot to perform tasks usually done by humans and associated with intelligent beings. In market research, A.I. provides large amounts of unstructured data at scale. 

A.I. is often used in conjunction with traditional methods with excellent outcomes in influencing marketing strategies, delivering service solutions, and uncovering consumer behaviour. It assists people in market research by automating tasks and increasing efficiencies, obtaining deep insights from a large amount of data, and enabling them to use natural language processing (N.L.P.) for better understanding. 

Most people understand that traditional market research is about online surveys. A.I. allows surveys to be conducted via voice. For instance, brands are using voice survey tools to collect data that sounds more human. This is an incredible new development that allows users to provide feedback hands-free. For researchers, this is a qualitative approach that speaks volumes regarding the emotions behind the words. It captures the true sentiment of the participants. 

2. Eye-tracking

Eye-tracking is a research methodology for measuring where a person looks, providing insight into their thinking.

It is now possible to record everything about how the eye interacts with everything in front of it. Using infrared light and high-resolution cameras, market researchers can track how eyes move in response to stimuli. They can, therefore, unlock real-time emotions and consumer reactions, obtaining insightful and quantifiable data behind consumer reactions and behaviour.

3. Real-time feedback

Real-time feedback is a type of qualitative market research methodology in which you receive live feedback from users or visitors on your website or app. 

Mobile diaries allow brands to obtain “in-the-moment” real-time responses. They don’t have to recall their experiences from a few days or weeks ago; they can provide real-time feedback, for instance, while interacting with your app or product. 

Most people always have their phones with them, not necessarily a traditional journal or diary.

4. Microdata

We hear and read about “big data,” but microdata is becoming increasingly crucial. Microdata is data about individual consumer activity. 

Microdata is data on the characteristics of units of a population, like individuals, establishments, or households, collected by a census or survey. 

A good understanding of individual consumer behaviour supports more targeted business decisions. So while big data is essential, certain decisions cannot be made using macro data methodologies.  

5. Augmented Reality (A.R.)

According to Investopedia, “Augmented Reality (A.R.) is an enhanced version of the real physical world that is achieved through digital visual elements, sound, or other sensory stimuli delivered via technology.”

We partnered with Asahi on a pilot designed to explore the applications of augmented reality in package testing. The pilot was focused on one of Asahi’s flagship brands: Fuller’s London Pride. London Pride is already the capital’s number one ale. Still, as part of a strategic drive to bring the brand to more ale lovers nationally, Asahi wanted to test a new concept for the packaging against the existing bottle design.

Read the complete case study on how we ran an industry-leading pilot test on A.R. in market research to discover its applications to pack testing. 

Virtual environments have provided brands and market researchers with a more accessible and less expensive way of product concept testing, feasibility analysis, and interpreting consumer behaviour regarding a new and developing product.

Brands use A.R. to help consumers view a product, like a piece of furniture in their surroundings. It provides the brand with feedback on how a product can work for customers. It is also far less expensive than a focus group or shipping the product to the consumer. 

6. Internet of Things (IoT) and Wearables

Internet of Things (IoT) refers to a network of connected objects or devices that can collect and exchange data in real-time using embedded sensors. Cars, thermostats, lights, and window blinds, can all be connected to collect and exchange information over a network using sensors. 

Internet of Things (IoT) devices are a goldmine of data with many facets of consumers’ everyday lives. Let’s say a company wanted to measure the activity levels of consumers in the new year. They will get rich data from a wearable device like a Fitbit or Apple watch (with the user’s permission).

7. Social targeting

Social media targeting is the ability to post or advertise certain content to specific audiences. These can be chosen by the person posting or the advertiser to include niche audiences based on demographics, interests, etc. 

There are over 4.55 billion social media users worldwide, and that’s where most people congregate nowadays. Advertisers have leveraged the precise targeting of niche audiences to drive leads and sales. 

Brands can target a specific section of the population based on age, gender, interests, behaviours, languages, and even the brands and products they currently use. 

Market researchers can use social sampling to effectively target participants according to what they are looking for based on personal interests, location, and interests. 

Surveying consumers virtually allows them to target specific niches of participants. Researchers can select participants who care about the product or service with precise targeting, resulting in higher response rates.

There are plenty of opportunities to adopt new technologies in market research so brands can get better insights faster. This enables brands to make better decisions based on rich data. 

Technology makes it possible for market researchers to collect data quicker and more accurately and analyse it more effectively. However, they also need to sharpen their skills when using technology. In some cases, it is essential to complement traditional methods with technology. In either case, technology adoption will allow market researchers to spend less time on data collection and analysis and more time on the big picture problem-solving. This will bring more value to the brands and markets they serve. 

Technology to enhance, not replace, the human component 

While technology provides real-time, rich, and robust data and an efficient way to sift through vast amounts of data, it does not replace experience in interpretation. Technology should complement, accelerate, and enhance the market research methodologies, not replace them. 

For instance, automation should be used to reduce the time between putting the survey in the field and retrieving the feedback and responses. But the automation should not replace the interpretation made by an experienced market researcher. 

Market researchers know how to design surveys, ask the right questions, and interpret data. With the advances in technology, they can move from data collection to more big-picture thinking. In a world of automation and data, human beings remain unique in their ability to create and understand people.

Consumer interest in Connected Technology is rising due to the accelerated digital shift to “at-home” trends during the pandemic. With an increasing number of people working, learning, shopping, exercising, and even monitoring their health from the comfort of their homes, the connected technology market is rife with opportunities for brands in a multitude of sectors. 

From AI-enabled voice assistants that can be summoned on command to watches that have gone beyond telling time and have converted our wrists into smartphone holders and health monitoring devices, connected technologies are transforming the way we live, work, and play. 

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Market research and product testing are paramount for the successful launch of connected technology products.

With an increasing number of consumers and households jumping on the connected technology bandwagon, we are collecting more information and data than ever before, which has positive and negative implications for the market research industry.

Market research companies provide product testing services in various industries as they conduct research studies for a range of products before they are launched and help guide new product development. These companies put the products in the hands of the consumers who will be using the technology. 

Product testing is a research methodology that allows brands to gather quantitative and qualitative information about a user’s potential behaviour, reactions, and preferences, like the taste, feel, and smell. For connected technology, often, a prototype is tested in the market before it goes into development. 

What is connected technology?

Connected technology is products with built-in or embedded technology comprising sensors and processors to connect with their environment and other products. 

Connected technology is tied with the Internet of Things (IoT). Watches are no longer used only to tell time; their function has extended to enable text messaging, phone calls, and fitness monitoring. Our homes are getting smarter; our cars go the extra mile to deliver convenience; our offices thrive remotely using real-life collaboration and project management tools. 

Let’s look at some of the main areas where connected technology is unfurling, what the future has in store for consumers, and how brands can match this rapid growth. 

How are people currently using connected technology?

Connected technology has seamlessly integrated into our daily lives and shows no signs of slowing down, and for good reason. The demand for connected technology that provides convenience, comfort, accessibility, and automation is at a historic high. 

To understand the benefits and use of connected tech, let’s look at the main areas we use connected technology in our daily lives. 

There’s no place like a smart home.

Smart homes are redefining our living spaces and becoming more innovative. According to Statista, the global smart home market is worth more than US$126 billion.

Consumers increasingly demand home automation when they purchase a home —and for a good reason. Home automation provides convenience, functionality, security, entertainment, and energy savings. The possibilities are endless. 

For instance, lighting control network systems allow you to control the whole home or building remotely by your smartphone. Sensors turn lights on and off as we enter and exit rooms. Automated window treatments allow you to control a room’s ambient lighting and other aspects remotely. Smart homes also allow for remote access. 

Smart appliances are making life easier for households. Smart Appliances as a segment includes all kinds of connected household appliances. Surveillance cameras and home security systems are getting more advanced. Baby and pet monitors allow people to monitor their babies and pets. 

Consumers in Asia adopt devices more quickly than in North America and Europe, and South Korea leads the way with a 27 percent household penetration rate in 2022. 

Smart homes are not just nice to have anymore. Homeowners are increasingly expecting smart home features, and builders and technology companies are taking note.

Smart homes are getting smarter and now go beyond just thermostats and light dimmers. Technology is becoming much more affordable and accessible, and some smart homes will make your jaw drop.

Consumers are much savvier and increasingly demand technology built into their homes. Even the lower to mid-range new home buyers expect certain smart home features to be part of the build. Therefore, every construction company needs to include these home features or risk falling behind their competitors.

How does the demand for Smart Homes impact brands in the market?

This new trend has many implications for the market. Builders will need to consider privacy and cybersecurity, adjust agreements, make sure devices can “talk” to each other, and have the ability to offer flexibility as new technologies are added in the future. 

With the average household using 25 connected devices, there is considerable pressure to provide a connectivity network far beyond what a regular service provider can deliver. 

The pandemic has also created a new generation of germophobes, and KB Homes, a home builder in the U.S., has launched MERV-13-rated air filters in their communities. Compared to lower-rated air filters, these high-grade residential air filters eliminate dust, pollen, mould, and certain bacteria and viruses for improved air quality. 

Home appliance brands are not only thinking of innovations but also a way to upgrade features into existing smart products. The CES 2022 show in Las Vegas saw AI-powered laundry machines, hands-free faucets, healthier microwaves, next-level smart blinds, and smart bathing technology. 

Connected technology is driving the automobile industry.

Connected technology is designed to connect to a smartphone to do more than play music or route phone calls through the car’s speaker. For instance, you can turn a connected vehicle on or off using a smartphone. It can allow the owner to use an app to control the car or share diagnostic data to remind you when an oil change is due, and so on. 

Connected vehicles on the road connect to a network so all types and sizes of cars can “talk” to each other as they share vital information on safety, road conditions, traffic, and mobility. 

These are just a few instances that barely scratch the surface of what connected vehicles can do.

A Statista report estimates the size of the global connected car fleet to increase more than threefold in the coming years. In 2021, there were about 84 million connected cars in the United States, and it is projected to exceed 305 million in 2035, making the United States the biggest market for connected vehicles.

Europe currently accounts for around 30 percent of the global connected car fleet. The E.U. is one of the regions with significant potential for connected services. 

As of 2019, about half of the motorists in Europe said they were willing to switch car brands to access new connectivity features and services.

For more insights, download our report, “Speed bumps on the Road to Change.”

Wearing your heart on your sleeve. 

According to 1Mordor’s 2020 report: “The connected medical device market is expected to register a CAGR of 18.92% over the forecast period from 2022 to 2027.” The same report showed the Asia Pacific as the fastest growing market and North America as the largest market.

Connected tech in healthcare is also referred to as Connected Care. It may be defined as the real-time, electronic communication between a patient and a medical provider, using digital tools such as remote patient monitors, telehealth, wearable technology, secure messaging, and mobile apps, to name a few. 

For more insights, download our report, “Health and Wellness Trends.”

It is estimated that remote monitoring for healthcare could be worth USD 1.1 trillion by 2025.

Wearable technologies hold a significant share of this market, providing real-time data so health care providers can help patients remotely. They provide convenience and cost-effectiveness by reducing multiple visits to the doctor’s office. With cardiac-related devices expected to be worth USD 800 billion by 2030, there is a massive opportunity for healthcare brands in the cardiac segment for wearables.

These medical devices can be vulnerable to security breaches, impacting their safety and effectiveness because they are computer systems. 

While there are data security risks involved, wearables can detect cardiac arrhythmia conditions causing stroke and allow neurologists to diagnose seizures remotely; the benefits of these products far outweigh any risks. 

Connected tech encompasses your fur babies. 

The pet humanization trend and growing concern amongst pet owners about the health and safety of their pets continues to drive the pet industry’s growth at a CAGR of 6.1 percent. You can now dress your pet in a Banana Republic sweater, insure them with MetLife, and get CBD supplements to calm them down.

This trend is now dovetailing into the pet wearable devices market. According to a recent global market research study, the global market for pet wearables is expected to reach USD 2,5 billion by 2024. Pets can wear these devices to help identify, track, control, and even for medical diagnosis and treatment. Furbo is one such pet wearable in the market that aids anxiety in dogs. A remote pet camera that alerts you when your dog is barking can take dog selfies, and owners can toss treats, all from their smartphones.

Connected technology is reshaping the fitness industry.

One of the first industries impacted adversely by the pandemic was gyms and fitness centres when they were forced to close their doors due to fears of spreading COVID-19. Stuck at home and with more time on hand than ever before, consumers made a beeline for at-home gym equipment. Peloton was at the forefront of this revolution and later bought Lululemon’s Mirror. 

Peloton’s stock has reached highs and has plummeted in what seems like a roller coaster ride. When gyms closed during the pandemic, Peloton’s stock price and product sales were at an all-time high, increasing more than eightfold from March to December 2020. 

An Atlantic article revealed the company had 2.3 million users paying about $40 a month to take classes on its “connected fitness” products by August 2021. 

Google trends show a similar picture.

At-home fitness trends during the Pandemic
At-home Fitness Trends during the Pandemic

The global home-fitness equipment market will grow to $15.13 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The at-home fitness market is expected to reach $21.84 billion by 2026.

What does this mean for fitness brands —both in-person gyms and online fitness platforms?

Brands providing fitness solutions inside and outside the home will need to commit to the new normal and an approach that fits consumers’ lifestyles.

Brands that want to become a part of their consumer’s fitness regimen will have to consider a hybrid approach. On-site fitness studios and solutions should utilize a more hybrid approach to keep consumers physically and digitally engaged and connected. They can do this by complimenting their in-person services with a mobile application. At the same time, brands with at-home gym equipment and tools should make data security a priority. 

The intersection of retail and technology elevates the shopping experience —both in-store and online.

Not all businesses survived the pandemic and the recent, rapid shifts in consumer habits, but the ones that did are thriving. These retailers have been able to master the in-store shopping experience. 

Retail technology provides an exciting opportunity to both consumers and retail brands. Connected technology is taking the shopping experience up several notches. While people still shop in these stores, a brand’s physical location is considered one of the many channels. Consumers interact with these stores digitally and will come to expect this from every brand.

From using virtual mirrors to try on clothes to pointing a piece of furniture on your cell phone and placing it in your home, Augmented Reality (A.R.) is changing how we shop and try products. Car shoppers can go into dealerships and customize cars with different colours or styles using their tablets or phones. They can use A.R. to try sunglasses from the comfort of their home.

Grocery stores may look the same as many years ago, but the experience has completely transformed. The distinction between online and offline has little relevance today in the grocery space. This is because today’s consumers do not want their shopping experience to be held back by the limitations of a single touchpoint. Today’s connected consumers expect an omnichannel shopping experience, including online ordering, curbside pickup, delivery, self-checkout, scan-and-go, and contactless payment options.

Supermarket brands need to have an omnichannel approach to meet customer expectations, including convenience, speed, and efficiency. For instance, while a customer is exploring store aisles physically, they should have the option to interact with the store digitally and even complete the transaction using the store’s mobile app. 

Consumers’ data is recorded and stored to provide a personalized experience with product recommendations and deals. When consumers create an online account, their purchasing habits are used to tailor relevant deals, ads, and offers. In the absence of an online account, consumer data is tied to a loyalty card.

Technology also allows retailers to alert customers when stocks of the items they regularly purchase are low or when an item is back in stock. Alexa, Amazon’s voice assistant, will notify you based on your ordering history if you are running low on a particular product, tell you how much it is, and ask you if you would like it added to your cart.

Grocery delivery services became popular during the pandemic. Now that we can go back to a physical store, many consumers have become accustomed to using delivery apps like Instacart for their convenience, speed, and seamless service. You can also watch your groceries transported to your doorstep with the app’s live map view. 

Sustainability is also coming into the picture with an increasing number of younger generations that prefer buying from eco-friendly companies. Zero, a Los Angeles-based startup, is an example of an eco-friendly brand that delivers groceries in sustainable packaging. 

The future of retail is hybrid with an Omni-channel approach and connected experiences across touch-points. 

As customers jump across several channels when they shop, retailers need to engage with where their customers are via digital channels.

Leveraging shopping behaviours, personalisation, user experience (UX), and integration will be critical for retail success. This will help retailers engage with their customers at various touchpoints —physical stores, sites, apps, and significantly improve the shopping experience. 

Retailers also need to factor in social media networks, messaging apps, voice assistants, mobile devices, and other new channels to capture their customers’ attention and engage with them. Consumers expect incredibly personalized and relevant content. 

Challenges in the connected technology space and how brands can use these as opportunities to grow  

During the pandemic, the older, less tech-savvy generations also adapted to connected technology and enjoyed the benefits of staying connected with friends and family. Brands should no longer ignore this segment’s needs and may need to provide more in-depth onboarding help and tech support. 

Now that people are back to in-person, they will continue using these devices and technologies in and out of the home, in the new normal. There will be a need for interconnectivity across the house, car, and mobile devices will be critical moving forward.

The industry faces many challenges, including data security, privacy concerns, continuous innovation and iteration, a massive load on the network and wifi issues, theft, loss, and damage.

Here are ways in which brands can overcome such challenges:

  1. Provide extended warranty
  2. Put customers first
  3. Provide multiple customer-service options
  4. Insurance against theft, loss, and damage
  5. Provide on-demand tech support
  6. Help with digital identity protection
  7. Allow trade-in offers to swap your old device for a new one at a discount
  8. Continuously upgrade technology

What does the future hold for connected technology?

In a digital-first world, physical fitness studios and stores are still appealing. Physical stores that embraced this reality are thriving. They have gone above and beyond to offer a hybrid approach and have elevated the in-store experience. There is also a preference for in-store shopping in older generations versus younger ones.

The pandemic played a massive role in speeding up the adoption of digital-first behaviors. Now that we know consumers expect a hybrid world where digital meets offline, brands can play a role in pushing innovation and further improving customer experiences across touchpoints and channels. With a goldmine of integrated customer data, they can offer a personalized and relevant experience in a hyper-connected consumer world. 

How market research can aid brands in the connected technology space

For brands aiming to disrupt the market with the next “new” thing in connected technology, it is vital to know how consumers will respond to it before going to market. Market research can provide the valuable data, and insights brands need to take action. 

Brands have several critical decisions regarding target markets and audiences, price, distribution channels, promotion, and product features. How can brands bring new product lines to market without proper knowledge? The good news is market research provides unique methodologies tailor-made to capture purposeful information to inform those decisions. 

Market research allows brands to collect relevant information about market needs and customer preferences, impacting every aspect of the business, product, and brand. Backed by this information, brands understand the choices and behaviors of their potential customers. Therefore, their products can meet their customers’ needs and reduce the risk of an experience gap between the company and its products or services. The experience gap is essentially the gap between what the customers expect/ want and what the companies give them. 

Market research is used for product testing and development. Effective market research uses a diverse population to test a given product and ensures it works for everyone in the target market. Brands also use market research for brand name testing, concept testing, messaging and campaign testing, branding, and logo testing, and pricing testing, to name a few. 

For brands in the connected technology space that are often under high pressure to quickly produce and iterate high-quality products with an enhanced customer experience in a competitive market, the importance of market research cannot be overstated. 

Brands in connected technology need to utilize a comprehensive testing strategy beyond traditional product and messaging testing. Market research can study the preferences and User Experience (UX) throughout all touchpoints within the customer journey. 

For instance, connected technology brands can use market research to ensure customers are surveyed on current technologies and UX and online shopping cart abandonment. Likewise, the data from connected tech can (with permission) provide a goldmine of information about specific market segments, which can inform better decisions based on hard facts rather than gut feelings or assumptions. 

For smart product companies, it is also essential to make sure all their products connect seamlessly to make their customers’ lives easier and more comfortable. Therefore, market research is utilized to make sure the product works and connects with other smart products to enhance the customer’s life. 

Connected technology became popular before the pandemic. The pandemic only accelerated its adoption. The rise of connected consumers across the globe has led to connected technology trends across industries. As brands navigate the challenges of wifi capabilities and data privacy, they are continually innovating and iterating smart, connected products that are relevant and user-friendly. 

We don’t need a crystal ball to make this prediction: the future belongs to a connected world. 

Learn more about how Kadence International’s Marketing Research is driving growth for leading technology companies here. 

The significant strides in Artificial Intelligence (AI) are reinventing the market research industry by addressing cost and time issues. As for the process and application, AI makes market research less labourious, faster, and more accurate. Machine Learning reduces the time to complete projects from weeks and months to hours and days. Algorithms make the job less cumbersome and more cost-effective. 

What is Text Analytics, and what are its uses?

One of the newest trends and developments in market research is Text Analytics. Text analytics is a qualitative research method used to uncover the whole story behind the data so organisations can make better, more informed decisions. It refers to the automated process of extracting and translating information, insights, patterns, and trends from large volumes of unstructured text and data. This is done through text analytics software that uses Machine Learning and Natural Language Processing (NLP) algorithms to pull valuable information and meaning from unstructured text. 

This text and data consist of open-ended feedback in text form, like emails, survey responses, product reviews, call center notes, and social media posts. 

Can you imagine how tedious and time-consuming it would be to pull information and deep insights from such voluminous, unstructured text at scale? 

Text analytics helps market researchers examine large amounts of information and data in real-time to track consumers’ sentiments and detect potential brand reputation issues before they become serious. 

Text analytics also helps diagnose product issues and provide more profound insights like identifying patterns or trends. It aids in comprehending a negative spike in the customer experience, assists in collating and interpreting customer conversations from various online sources, and helps monitor an advertising campaign’s messaging and how it is being received.

Brands increasingly use text analytics to offer actionable insights that inform sound decision-making. It also enables organisations to examine vast amounts of data at scale, increase efficiencies and reduce time, labour, and costs. 

According to Mordor, “The global text analytics market was valued at USD 5.46 billion in 2020 and is expected to reach USD 14.84 billion by 2026 at a CAGR of 17.35 percent.” 

Companies use text analysis to help improve their customer, employee, product, user, and brand experience. Many cloud-based applications use text analysis for predictive studies, cybercrime, business intelligence (BI), and fraud management, to name a few. 

The Difference Between Text Mining and Text Analysis

It is essential not to confuse text mining with text analysis as they are similar in process and methodologies but have very different applications. 

Text mining uses statistical methodologies to extract quantifiable information from unstructured text, used for applications like fraud detection and screening of job applicants. 

Text analysis has a more business and experience management focus that uses similar methodologies as text mining but uses the information to uncover trends, patterns, and sentiment to sweeten customer, product, brand, or employee experience. 

So how does text analysis measure sentiment in the absence of language and tone?

Market research companies use Natural Language Processing (NLP) to analyze sentiment from the text so they can decode the emotion, feeling, or context behind blocks of plain text. NLP uses language processing algorithms to evaluate sentiment without any bias. 

Brand and Market Research applications of Text Analytics

Text analytics is used in the field of Experience Management (XM), and it is widely used in the following four main areas:

Customer Experience 

Customer experience uses technology like Machine Learning to provide intelligence around the customer or user experience across all touchpoints. This allows brands to enhance the customer experience by making informed decisions based on the findings. 

Product Experience 

Text analysis provides feedback on the features that need improvement and those that need to be added in future updates. Product usage data and warranty information enable brands to invest in their customers’ most used and valued elements and features, reducing costs and boosting profits. 

Brand Experience 

Text analytics collates data from multiple online sources to identify conversations around the brand. It is also used to analyze how effective marketing campaigns are and how the brand messaging resonates with the target audience—other data points like campaign reach, spending, and customer acquisition impact Return On Investment (ROI). It helps measure the overall brand experience.

Employee Experience

Employee wellbeing and work-life balance issues have recently come to the forefront, and text analytics helps provide real-time reports and data around topics that concern employees. Employee attrition has always been a challenge for most organisations, and text analytics combines data around engagement scores to tackle employee attrition and boost employee retention and satisfaction. 

Armed with good text analytics software and research methodology, brands can arm themselves with the ability to identify and monitor patterns and trends over time. Text analytics helps deliver insights to build a deeper understanding to win over target audiences.

The Internet changed our lives forever. And now, the Internet of Things is transforming our lives yet again.

In recent years, we have seen several significant developments in technology. While these developments were already at play, the pandemic gave a big push and further accelerated the pace of adoption.

In today’s connected consumer world, the physical world meets the digital world,  and these two worlds cooperatively interact. Big data, analytics, and mobile technologies allow objects and devices to share and collect data over an interconnected network and with little human intervention. 

The benefits of using IoT are reduced costs, augmented productivity and efficiencies, and increased convenience. Ultimately, IoT is beneficial for brands and market researchers as it provides them with a wealth of information on consumer habits that they can utilise to increase their profitability.

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Definition of the Internet of Things (IoT)

According to Oracle, “the Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies to connect and exchange data with other devices and systems over the Internet.”

Simply, IoT is when the products we use every day connect to the Internet and each other. 

Internet of Things (IoT) goes beyond consumer products and permeates many other industries. 

In recent years, one of the most significant developments in the Industrial Revolution is Industry 4.0, and it all began in the manufacturing sector.

What is Industry 4.0?

Industry 4.0 focuses on interconnectivity, automation, machine learning, and real-time data in the manufacturing industry. 

It allows manufacturers to maximise production and improve distribution, transportation, and product development. 

Industry 4.0 is the convergence of state-of-the-art manufacturing processes with the Internet of Things, which results in innovative, interconnected techniques that can communicate, analyze, and employ data to improve decision-making. This ultimately leads to optimizing, connecting, and automating operations.

Industry 4.0 was mostly restricted to the manufacturing industry in its early days but has expanded to benefit other sectors, like warehousing, logistics, and distribution.

Let’s delve into the opportunities for connected tech in other industries:

Healthcare

According to 1Mordor, “the connected medical device market is expected to register a CAGR of 18.92% over the forecast period from 2022 to 2027.” The same report showed the Asia Pacific region as the fastest growing market and North America as the largest market. 

Connected tech in healthcare is known as Connected Care. It is defined as the real-time, electronic communication between a patient and a medical provider, using digital tools such as remote patient monitors, telehealth, wearable technology, secure messaging, and mobile apps, to name a few. 

It is estimated remote monitoring for healthcare could be worth USD 1.1 trillion by 2025. 

Wearable technologies hold a significant share of this market as they provide real-time data so health care providers can help patients in remote locations. They provide convenience and cost-effectiveness by reducing multiple visits to the doctor’s office. With cardiac-related devices expected to be worth USD 800 billion by 2030, there is a massive opportunity for healthcare brands in the cardiac segment for wearables.

COVID-19 has impacted and accelerated the growth of this market. The pandemic brought about new ways of interacting with doctors remotely due to the nature of the pandemic and pressure on health systems and infrastructure. 

While there are data security risks involved, wearables can detect cardiac arrhythmia conditions causing stroke and allow neurologists to diagnose seizures from remote locations; the benefits of these products far outweigh any risks. 

Agriculture

According to Statista, the global market size of smart agriculture is expected to grow to USD 34.1 billion by 2026.

Connected tech in farming utilises sensors installed in plots or livestock farms. They help collect data, such as soil moisture and plant vigor, which is used to monitor the health of the crop or herd.

With environmental factors in play, the growing demand for food, constraints on the supply side, and changing consumption patterns, agriculture faces enormous challenges. While we have seen massive improvements in equipment and technology in the past five decades, a digital transformation using connected tech will lead us closer to sustainable solutions.

However, digitization in agriculture faces obstacles. In many regions of the world, connectivity is an issue. In areas where connectivity exists, the adoption of digital tools has been relatively slow. 

Therefore, we need to develop infrastructure to enable the use of connectivity. In areas where connectivity already exists, we must take the necessary steps to promote and encourage adoption. 

In addition to offering more effective production methods, higher quality food, and more transparency for consumers, smart agriculture can create sustainable production methods that save water, which lessens the impact on the environment and reduces production costs.

Inventory & Supply Chain Management

IoT devices help companies provide enhanced inventory monitoring capabilities and location tracking, leading to increased storage and distribution efficiencies. Companies can figure out where goods are delayed during transportation. 

With IoT data analytics at their fingertips, supply chain managers can plan better routes based on potential weather hazards, accidents, and road conditions.

Finance

IoT is the coolest kid on the finance block. It provides a network of internet-connected devices that collect and transmit data.

As banking goes digital, consumers enjoy more convenience in the usual banking processes. Banks can leverage technology to know the needs of their customers in real-time. IoT financial technology software can increasingly collect more data about transactions using built-in Artificial Intelligence (A.I.), enhancing efficiencies, security, and fraud protection.

Retail

IoT technologies help brands track products throughout their supply chain by utilizing GPS and Radio Frequency Identification (RFID). This allows brands to monitor and track where their products are at any given time and predict a more accurate delivery time. 

In a world of connected consumers, where they expect brands to be intuitive and relevant, IoT helps brands make deeper connections with their consumers by identifying unique behaviours and having the ability to offer what consumers want —when they want it.

How the IoT is Impacting Market Research

As discussed above, IoT is important to both consumers and businesses in almost every industry. 

So what does this goldmine of data mean for market research? 

Big Data has daily implications for consumers, businesses, and market researchers. The application of data plays a massive role in market research surveys, and so do data processing and analysis. With market research becoming more digital in data collection and analysis, traditional methods are not enough anymore. Therefore, IoT helps market researchers stay abreast of consumer habits and behaviour. 

Furthermore, IoT data is more accurate, reliable, and valuable to market researchers. 

It is estimated that, by 2030, roughly 125 billion devices will be connected to the Internet and used daily. Moreover, 5G connections enable the usage of connected devices more than ever before. 
Since there is a growing market for IoT, wearables, and smart technology, consumer feedback is a critical resource to help brands adopt the most compelling business, sales, and marketing strategies to maximise their return on investment.

Ultimately, the winning brands will not be the ones with the best, most innovative technology but the ones that have the perfect combination of innovation and ongoing customer behaviour analysis. This is where the role of market research cannot be ignored.

Four Ways IoT Impacts Market ResearchTracking consumer behaviour 

  1. Tracking consumer behaviour 
    IoT is a network of smart, connected devices that work through the Internet. The data is no longer just available on smartphones and computers but encompasses smart appliances, wearable technology, automobiles, and smart, interconnected devices. In a hyperconnected, digital-first world, the data provides a wealth of sights into consumer habits and behaviours.
  2. Analyzing consumer behaviour
    The business world is changing at warp speed, with older forms of consumer engagement becoming obsolete. Companies need to move with digitally empowered consumers and adopt digital data collection and analysis. IoT is an invaluable and more accurate tool for monitoring a product’s performance and consumer behaviour, preference, and attitude toward a product. IoT can inform brands on how and where they can improve their product and message.
  3. Predicting behaviour analysis to sell when consumers are ready
    IoT enables brands to know when consumers need something, benefiting brands and researchers. For instance, a smart car can predict when the oil change is due on a vehicle, carrying essential consumer data and information. This can be used to advertise locations that offer the service. Therefore, it boosts sales.
  4. Offering tailored experiences
    By integrating data analytics into their operations, brands can offer more tailored experiences and obtain information on consumer behaviour. Market research is beneficial here. For instance, in 2013, Disney World introduced the MagicBand. These wearable devices collect a wealth of data from hotel bookings, restaurants, and popular rides. Disney World can enable tailored offers using this data on behaviour by utilizing predictive analytics. 

Technology and consumer behaviour have drastically transformed in the last two decades. IoT provides data that can help market researchers understand consumers and their habits better than ever before, thereby enabling them to provide reports and analyses to brands that contain accurate, unbiased, action-oriented information free from human error. 

For some, 2021 is a year best forgotten. But from a marketers and researchers perspective 2021 certainly revealed some interesting insight into changing consumer behaviours and demands.

Here we have compiled the best of our trend reports and guides from 2021 all in one convenient place.

This report is specially designed for companies looking to grow their presence in Asia and is based on the analysis of local experts across Kadence International’s eight Asian offices.

DOWNLOAD the full report here

Getting the Most from your Research Budget

We developed a framework for getting the most out of your market research budget, which could be useful as you plan your projects for any year.

DOWNLOAD the full report here

The Ultimate Guide to New Market Entry

This guide covers when to consider entering a new market, how best to approach the research you’ll need to support you as well as practical information on the different market entry strategies available to you. 

READ the full guide here

Segmentation in Uncertain Times

The pandemic has caused people’s behaviours, wants and needs to change. Segmentation is an important tool to understand your target better, but also to help identify new or emerging expectations from brands.

WATCH the full 12 minute video here

Harnessing Augmented Reality

In this groundbreaking package testing research, we partnered with Asahi and their signature brand Fuller’s London Pride using augmented reality to garner feedback on new product labeling. This innovative approach resulted in great data, a satisfied client and numerous awards within the research industry.

LEARN more about the test and watch the video here

If there was ever a year when health and wellness was at the forefront of consumers minds, 2021 was it. We looked at some key global trends that are emerging, and the behaviours and expectations fueling these trends.

DOWNLOAD the trend report here

As soon as you think you understand market research, something brand new comes along to challenge everything you thought you knew. With the rapid evolution of technology, those moments seem to be happening more than ever.

Today’s market research campaign looks very different from how it would ten or even five years ago, and technology is one of the major driving forces behind the evolution of market research. Every year brings a slew of new tools, techniques, and platforms built to make research more accessible and more effective.

In this article, we’ll take a look at some of the most important things that have changed in market research due to technology, and we’ll also explore what new changes could be lying in wait in the near future.

Market research technology: what has changed?

Over the last several years, there have been several significant technological changes that have impacted market research. 

Technology has changed how industries operate, and market research is no exception. Advancements in technology have seen a rise in the self-service model, where brands can implement their own short surveys. But perhaps the most significant impact technology has had on the market research industry is agility. Market research technology allows researchers to quickly test, measure, and pivot projects.

Technology allows traditional research briefs to move past online surveys. For example, eye-tracking technology enables researchers to observe shoppers exhibiting their natural behaviours while walking around a real or virtual store, making note of fixation and gaze points. This can be highly revealing in usability studies, product and package testing, and shopping research.

Here are some of the main forces driving the evolution of market research.

Social media

It’s hard to believe that social media has only been around since the early 2000s. In the two decades since its inception, social media has transformed our lives, and market research is no exception.

Social media platforms like Facebook, Twitter, Instagram, and more offer unique insights into your market and customers. These platforms are home to enormous reservoirs of data on your audience, providing unfiltered and direct feedback around how they’re feeling, what they want, their pain points, and hopes and desires. It’s also easier than ever to share surveys and questionnaires, collect attendees for focus groups, and much more.

Another benefit of social media is more accessible competitor analysis, allowing you to gain an easy glimpse into what other companies in your space are doing and saying, what marketing techniques they are using, and what’s working.

Observing customer behaviour

The explosion in personal technology devices like smartphones, IoT gadgets, Alexa, smart cars, and wearables make it far easier to observe the behaviour of your audience members and collect valuable insights in real-time. Even mobile apps can collect customer data and establish behaviour patterns.

Wearable technology is one of the most recent developments in this area. Gadgets like the Oura Ring, Fitbit, Apple Watch, Rayban stories, and much more allow researchers to observe customer behaviour as it takes place naturally in the real world. This gives a unique insight into how customers behave that can never be truly replicated in experimental conditions and can pick up on responses that customers themselves might not even notice.

Automation

It’s never been easier to analyze data and draw valuable conclusions, thanks to the vast leaps made in automation technology in recent years. The growing amount of audience data available to marketers can now be processed and analyzed much more efficiently, allowing you to gain valuable insights and learn as much as possible about your customers and how they behave.

Chatbots are another example of the power of automation in market research. These tools can ask questions and conduct basic surveys from social media apps and websites, allowing you to communicate with customers and collect valuable information in seconds without relying on time-consuming manual work by human staff.

Increased reliance on video and remote collaboration

Spurred on by the pandemic, video collaboration tools, and remote meetings have skyrocketed in popularity and ease of access. There are many advantages to this for market research, such as a shift away from in-person focus groups. 

Researchers no longer need to hire a venue, convince large numbers of people to take the time out of their day to attend, employ multiple staff on the ground, and do all the other logistical tasks involved in a physical interview. Instead, the whole thing can occur via a Zoom call, saving enormous amounts of time and resources for both interviewer and interviewees. This also allows you to contact a much broader sample of participants without being bound by geographic location.

Reach much larger and more diverse audiences 

Not so long ago, market researchers were confined to methods like postal surveys, local interview sessions, and phone calls. Technology — specifically the internet — has allowed researchers to radically expand their horizons, reaching audiences in far-flung parts of the country and even distant parts of the world.

It’s now easy to conduct real-time interviews and focus groups with people several timezones away, allowing companies to gain a much bigger and richer picture of their audiences. This is especially important for international market research but is also helpful to achieve a complete understanding of your audience as a whole.

Build richer buyer personas

As it becomes increasingly easier to collect data from your audience and analyze it in vast amounts, it becomes possible to build much richer and more detailed profiles for your audience members.

The buyer personas of the past were often vague, two-dimensional things, often built around vague generalizations and assumptions. The small amount of data available to researchers decades ago made it challenging to construct genuinely accurate and useful personas.

Today, with the enormous amount of data made available by technology and the internet, you can learn a lot about the people in your audience and build genuinely valuable and richly detailed buyer personas to inform your marketing decisions, product development, and much more.

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What the future holds for market research technology

As time goes on, market research will likely continue to evolve, driven by entirely new advancements in technology. Some of these developments will come as a surprise and may be unexpected side-effects of existing or planned technology. We can also predict some future trends based on what we already know.

Tools like AR and VR

Virtual reality and augmented reality open up a whole host of exciting new possibilities for market research. Both tools allow for much more interactive research where participants can use products and experience services in a completely immersive way without leaving their homes.

This makes it much easier to gauge responses, observe behaviour, and collect meaningful feedback without shipping large amounts of physical products to participants’ homes or asking them to travel to a research site.

One example is how Kadence worked with Asahi, using augmented reality to research a new packaging design. Participants used AR to generate models of beer bottles, allowing them to visualize what the bottle would look like in their own homes and provide more accurate and detailed feedback around specific details.

More use of voice assistants

Today, voice assistants are already popular, with tools like Siri and Alexa quickly becoming a central part of people’s everyday lives. These voice tools allow a unique insight into customers’ daily experience and behaviour, and if this data can be collected ethically, it has excellent value for market researchers.

More agility

Increased agility is a fascinating prospect for market researchers as technology advances. In the past, researchers were forced to take risky gambles instead of using a more flexible approach and making adjustments as needed.

With the ubiquity of data in today’s world, businesses can now take a more agile approach to market research, making quick and frequent changes and course corrections in response to the feedback they get from various channels. This trend could mark one of the most significant changes in how we conduct research over the coming years and suggests a step away from over-reliance on guesswork and individual opinion.

Technology has had an enormous impact on how businesses conduct market research, and as time goes on, that impact is likely to increase. The best thing market researchers and companies can do is be open-minded and prepared to embrace new technologies as they evolve.

At Kadence, we can help you harness all the newest and future technologies to conduct market research most productively and effectively, gaining valuable insights into your audience and getting ahead of the competition. Find out more.

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Like virtually all aspects of modern life, the market research industry has undergone an explosive change in our COVID-19 pandemic era. While most of the principles of market research remain intact, brands worldwide have had to refine and modify their research methods as part of this “new reality.” 

Generally speaking, market research starts with a “wide-angle” look at the spheres of influence upon a market (including new and changing customer behaviours, emerging industry trends, etc.), then zooms in on specific nuances within a target audience. 

The data collection and analysis gained from in-depth market research offer brands “a clear and detailed understanding of what your customers want, what they already like, where they conduct their own research, and much more.” Understanding the broader context of a market enables companies to:

  • Gain insights into how customers use their products or services
  • Differentiate their offerings from competitors
  • Lay the groundwork for successful product upgrades or launches
  • Identify new opportunities for growth

These insights gained can set the tone and messaging for a brand’s marketing efforts both now and in the year to come. 

Here’s a look at key trends in the market research industry today and what lies ahead on the horizon for 2022.

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Trend #1: Agility and Technology

Despite the changes wrought by the pandemic and other global forces, one factor remains constant: the continual evolution of technology underpinning advanced market research.

Advances in artificial intelligence (AI) and machine learning, for example, enable researchers to gather information from an increasingly wide range of distinct sources. These advances also contribute to a new emphasis on agile research and speed of insight. Various elements include:

Automation of routine research practices. Automating the more routine facets of research facilitates a speedier analysis and interpretation of findings. This helps researchers save considerable time and effort while winnowing down to what’s truly essential in their work. 

Shorter and smarter polls and surveys. Employing surveys that can be positioned and distributed quickly (and which take respondents only a short time to fill out) are a further boon to the speed of analysis and insight. This approach involves identifying a “mobile-reliant” population that will actively engage in a poll or survey upon request, and within a brief period of time. 

Ongoing research. Agile research equals ongoing research. In a global marketplace that’s continuously in flux, the insights garnered from one survey can dramatically change by the time a new survey is undertaken. In the same respect, researchers can expand on findings garnered from one survey to craft a new, more specialized survey that focuses on changing factors in the marketplace.

As we have stated before, “when you know your offerings suit current and emerging customer needs, your business will develop a reputation for being wholly customer-centric that your competitors can’t match.”

Trend #2: AI, Machine Learning, and Emotion

If 2021 is any guide, we can expect the avalanche of raw data to keep increasing in the year to come. The vast array of sources promises to generate more information than researchers can ever hope to compile and analyze on their own. That’s why AI and machine learning are invaluable for research purposes.

Emotion AI, for example, seeks to “decode” human emotion by analyzing voice patterns, eye movements, facial expressions, and a range of non-verbal cues—all designed to generate data that enhances a brand’s capacity for linking emotion to consumer behavioural patterns. By evaluating consumer responses to a proposed upgrade or new product launch, emotion AI can more precisely “read” human feelings and gauge the success or failure of a new venture.

As MIT Sloan notes, “New artificial intelligence technologies are learning and recognizing human emotions, and using that knowledge to improve everything from marketing campaigns to health care.”

Trend #3: Social Listening

Interacting directly with customers often yields the most pertinent data for marketing trends. But engaging in social listening can be an equally effective research method.

Social listening involves analyzing social media conversations and trends related to your brand to your industry. This extends beyond monitoring basic metrics such as “likes” or “mentions” or “followers,” with a focus instead on the buyer’s mood behind the data.

Customers frequently express their sentiments about products and services on popular social media platforms (Twitter, Facebook, Instagram, etc.). Market researchers can look at this as real-time feedback about customer preferences, brand awareness, the inroads made by competitors, etc. 

In this respect, social listening offers a beneficial way of gauging customer sentiment (what they like and don’t like about the purchasing experience, preferences regarding how a purchase is made, and so on). 

For effective social listening, research methodology can include the following actions:

  • Search on the most popular social platforms for branded keywords, phrases, or product names.
  • Explore customer review sections on platforms. 
  • Learn about customer sentiments regarding competitors.
  • Anticipate potential new trends using Google Trends or other social media listening tools.
  • Identify relevant or industry-specific social media influencers.

Social listening should be “a critical component of any company’s marketing strategy, as it allows you to react and respond to customer sentiment — and gather data to make improvements in the way your business runs,” notes Reputation.com. In essence, social listening is like “your very own perpetual focus group, rich with constantly updated and actionable business intelligence.”

Trend #4: Longitudinal Studies

There has been a steady increase in longitudinal studies for long-range market research, and the trend will continue in 2022. This approach works most effectively when a brand wishes to continuously monitor a fixed sample of its target audience over a pre-determined timeframe.

Longitudinal studies, also known as continuous research, tracks consumer and market attitude trends over extended periods. To do so, researchers gather information from the same sources through a long-term methodology that yields insights into buying habits or consumer response to a new product or service launch. 

Trend #5: DIY

Another emerging trend is the do-it-yourself (DIY) approach to market research. The proliferation of agile or smart research tools enables in-house teams to conduct surveys and other research activities, often using a centralized online platform. Types of DIY market research include:

  • Interviews with existing and potential customers through surveys, questionnaires, or focus groups
  • Segmentation of the target audience into clearly defined groups (demographic, behavioural, psychographic, and geographic)
  • Product testing, in many cases, before a brand reaches the initial production stage
  • Measuring satisfaction with loyal customers

DIY research should aim for gaining “insights into how happy your customers are and any specific areas they like or dislike.” This enables brands to:

  • Identify any areas of current (or potential) concern.
  • Drill down to core issues by identifying (and then interacting with) dissatisfied customers.
  • Determine what’s needed to improve customer attitudes and experiences. 

One caveat worth mentioning regarding DIY marketing. As Forbes notes, “if you go to a third party [for market research], you’re going to likely get a different perspective than what you would get from your own team. There’s also a greater chance that the perspective you receive is an unbiased one, which is healthy” and potentially more insightful about what a target audience truly cares about.”

Trend #6: Aligning Brand Mission and Values with Customers

In 2022 and beyond, market research will continue to explore the value of aligning a company’s mission statement and the values of its customer base. 

Gone are the days when a brand could tell consumers what it stands for and leave it at that. Today’s savvy customers do their research to determine if a brand “walks the walk,” particularly concerning those values consumers hold dear—be it the environment and sustainability, income inequality, racial harmony, and so on. 

Consumers who prefer brands aligned with their values often become very loyal once they identify that brand. However, if and when customers detect a lack of consistency between what’s expressed in a mission statement and what actions a brand takes, they may abandon that company and seek out more compatible businesses to support.

In 2022, brands are encouraged to take a fresh look at their mission and values and how these are communicated to a target audience. Monitoring social media conversations around these values can illuminate the process of refining a company’s mission statement. It’s also an excellent opportunity to look into making a fresh commitment to support the causes and initiatives that a brand’s audience considers most valuable in their own lives.

Market research trends come and go, but the end result remains consistent from the past to the future. The primary objectives are always:

  • Improving products or services
  • Generating more sales
  • Delivering expected results
  • Enhancing customer service
  • Boosting customer retention

Market research supports the need for brands to maintain agility in an ever-shifting marketplace. Customer needs never remain static. If a brand meets current needs—and, better yet, anticipates future customer needs—its place in the global market will be stronger and more durable than that of its competitors.

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The pandemic has led to irreversible changes in consumer behavior. As consumers stayed home for the better part of 2020, they have formed a new set of preferences, habits, and F&B expectations. 

Today, what consumers are looking for from the food and beverage industry is very different from pre-pandemic times, and these new expectations are here to stay beyond 2022.  

The “Food & Beverage Trends to Watch in 2022 and Beyond”  report examines the trends that will shape the food and beverage industry in the years to come. In this report, we look at four emerging trends around the globe:

  • Plant-based foods, 
  • Immunity-boosting ingredients, 
  • Tastes of home, and 
  • Transparency, safety, and sustainability.

Trend #1: Plant-based Foods

While there is considerable evidence of people choosing to avoid animal products as far back as 2,000 years ago, today, 4 billion people live primarily on a plant-based diet. 

Globally, the plant-based meat market will be worth $85 billion by 2030. The pandemic has only pushed the meat and dairy substitute product growth. 

Click here to see the extraordinary increase in plant-based meat sales in the USA during the nine weeks ending May 2, 2020, as the pandemic caused meat shortages and price spikes, shutting down meat-packing plants.

Read the full report to find out how the virus caused regular meat-eaters to make the switch, with many becoming permanent converts. 

Beyond Meat and Impossible Foods have become very popular and are a force to reckon with in the plant-based meat industry. While they are not the first in the market, they have created meat substitutes that taste like real meat. 

Plant-based foods such as snacks, dips, sauces, cheese, spreads, and creamers will see a double to triple growth within the following year.

Read the full report to discover plant-based attitudes and trends worldwide, including India, U.K., China, and the U.S. 

Trend #2: Immunity Boosting Ingredients

The market for functional foods has been growing for years. However, demand has boosted since the onset of the COVID-19 pandemic.

As COVID-19 made the immunocompromised population more vulnerable, consumers became more interested in healthy foods that boost their immune systems.

Known as “functional foods,” these ingredients claim to possess an additional function. For gut health, examples include probiotic foods that contain beneficial microbiota, including fermented foods like kefir, yogurt with live active cultures, pickled vegetables, tempeh, kombucha tea, kimchi, miso, and sauerkraut. For inflammation, ingredients like turmeric, honey, green tea extract, fish oil, and ginger provide relief.

According to Beneo, an estimated 75% of consumers plan to eat and drink healthier due to the pandemic. The global market for these ingredients is expected to grow to $117 million by 2021.

Read the report to learn more about the demand for functional foods or nutraceuticals around the globe, specifically in the E.U., USA, and India. 

Trend #3: Tastes of Home

During times of unease, unrest, and uncertainty, consumers seek comfort in foods that remind them of happier, less turbulent times.

According to The International Food Information Council, many consumers are re-creating the restaurant experience at home by using meal kits, restaurant-branded products, and more sophisticated or flavorful ingredients from artisan food producers. 

  • Meal-kit service: In 2017, the industry was valued at US$4.65 billion, representing a 300 percent growth over the previous year. Read the full report to discover the estimated growth potential of this market by the year 2022. 
  • Speedy appliances: Another popular trend reveals many consumers purchased in-home appliances to make meal preparation easier.

The dinner with the family trend seems cemented in our behaviors and habits. Before the pandemic, 18% of households ate dinner together at home every day. Read the report to see the percentage of households that eat dinner together now, post-pandemic. 

Trend #4: Transparency, Safety, and Sustainability

According to a 2020 Innova Consumer Survey, three in five global consumers say they are interested in “learning more about where their food comes from and how it is made.” The term ‘clean label,’ therefore, goes beyond ingredients. There is a need for transparency around the food being organic or additive-free, and companies need to show consumers they produced the food sustainably and humanely.

An increasing number of technologies are emerging to improve transparency, including radio-frequency I.D. tracking of ingredients throughout the supply chain and wireless/ smart technologies such as invisible barcodes.

Read the report to find out how food producers increasingly use blockchain and Internet of Things (IoT) technologies to provide information to consumers.  

Now that F&B producers and consumers are more experienced living with the pandemic, the focus is expected to shift toward sustainability. 

ADM, a food technology company, observed that nearly two-thirds of consumers want their food choices to impact the environment positively. Lux Research’s report The Food Company of 2050 also lists “increasing sustainability” as a critical factor for increasing brand awareness and market share.

Read the full report for critical insights and consumer trends impacting the Food & Beverage industry in 2022 and beyond.