If you want a crocheted sweater or a bespoke engraved cutting board but need help finding an artisan, you might turn to platforms like Etsy that connect buyers with artisans on their eCommerce platforms.
The last decade has brought a massive consumer shift in mindset. Consumers today care about where their products come from, who produced them, and under what conditions they were made. They care about the impact of everything they purchase —on the workers and the environment.
Many trends are responsible for the maturation of the artisan economy around the globe, such as the rise of e-commerce, a growing interest in the environment and sustainability, the demand for rare, unique, personalised items, and a desire to support the local economy and small businesses.
Consumers care about sustainability, ethical consumption, and small-batch production and are looking for unique pieces with a story to add to their lives.
There has been a massive demand for handmade products globally. Handmade or artisanal products are high quality and unique, making them desirable for people looking for one-of-a-kind products with a strong narrative.
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The need for personalization and the recent movements supporting local businesses and artisans have also helped promote bespoke brands or handmade products.
Unlike mass-produced goods, handmade products have certain deviations, and no two products will be the same, adding to the uniqueness consumers seek in the products they purchase.
When consumers purchase a handmade product, they are also buying into the story and history behind it and building a deep connection with the artisan making the product while supporting craftsmanship and local businesses. Consumers are avoiding off-the-shelf pieces, and artisan goods are becoming a staple.
According to a U.K. Crafts Council report, 73 percent of U.K. adults had bought a craft in 2019 —which amounts to almost 25 million handmade items. About 32 percent of today’s buyers are under 35 years of age, making the younger populations of Millennials and Gen Z the biggest craft shoppers today. There are 11,620 craft businesses in the U.K., with over 43,000 employees.
Consumers often save crafts and techniques that face extinction and erasure by purchasing artisanal goods. And now, many big brands want to add a piece of the traditional method to their products. For instance, independent watchmaker Daizoh Makihara decided to use the traditional Japanese glass-cutting technique called Edo-kiriko for the dial of his first watch. He found eight companies that specialised in the method, but only one agreed to do it. This was Kyosuke Hayashi, the president of Mitsuwa Glass Kogei.
In English, Edo-kiriko means “cut glass from Edo”: Edo is an old name for Tokyo, and kiriko is the name of the cutting technique. This partnership gave birth to the first edo-kiriko watch in the world in 2018.
The weavers and artisans work hard to keep the rich Indian arts and crafts heritage alive. According to IBEF, the total handicraft exports from India reached $3.5 billion in FY20. With over 200 million artisans, India’s handicraft sector is the second largest employer after agriculture.
While fast fashion is pressuring the environment with its heavy carbon emissions, water waste, and poor working conditions and treatment of workers, consumers are hungry for a better model that offers trendy essentials and accessories without harmful environmental and socio-economic impact.
eCommerce has enabled many skilled artisans and hobbyists to profit from their passion and talent.
Consumer obsession and interest in handmade products have also seeped into reality T.V., and craft reality T.V. shows have become quite the rage.
British reality show Handmade: Britain’s Best Woodworker is a furniture-making competition similar to a cooking contest that has captured the hearts of audiences worldwide. Every major network and various streaming platforms are in on the trend. Other similar shows include BBC’s All that Glitters, Netflix’s Blown Away, NBC’s Making It, HBO Max’s Craftopia, ITV’s Bling, and Channel 4’s The Great Pottery Throwdown.
The pandemic spurred the demand for handmade goods. Online platforms have fuelled much of this growth: in December 2018, Etsy, a U.S.-based online platform for artisans to buy and sell handmade goods, reported that there were 220,000 active sellers in the U.K. with a further 9,000 makers on Folksy, a U.K.-based online platform to purchase handcrafted gifts and original artwork, sold directly by the artists and designers who have created them.
Top handmade product categories on Etsy
According to a report, the top handmade product category on Etsy in 2020 was home and living, with a 25 percent seller share, followed by art and collectables (21 percent), jewellery (15 percent), clothing (11 percent), accessories (8 percent), bath and beauty (6 percent), toys and games (4 percent), bags and purses (3 percent), weddings (2 percent), and books, movies and music (2 percent).
Etsy has three main sections in its online marketplace: Handmade, Vintage, and Supplies. Handmade represents 85 percent of sellers, Vintage represents 6 percent, and Supplies represent 12 percent of sellers.
Etsy, founded in 2005, now has more than 1.4 million sellers and 19.8 million buyers. Etsy focuses on handmade and vintage items and features over 5.4 million craft supply items.
Handmade gifts provide a personal touch and make the gift unique and personalised. This unique factor has driven platforms and brands that offer handmade products as popular choices during the Holidays.
There has been an 80 percent jump in searches on the creator-driven platform Etsy for Holiday gifts in the past three months compared to last year. In 2020, CNBC reported that Etsy saw a 156 percent increase in search traffic during three months compared to the year prior for custom gifts.
Case Study: How Etsy carved a niche for the handmade sector using an e-commerce platform
The Overview
Based in Brooklyn, New York, Etsy is the largest online marketplace globally, connecting buyers to sellers of handmade and vintage goods and craft supplies. Etsy is built on a smart revenue model: it charges sellers a listing fee and a commission and upsells advertising services to push a seller’s products to boost reach. The company expanded through acquisitions, including Blackbird Tech for USD 32.5 million, Reverb in 2019 for USD 275 million, and the fashion resell marketplace, Depop in 2021 for USD 1.63 billion.
The company has competitors like Amazon Handmade, Big Cartel, Folksy, iCraft, and eBay.
The Approach
Etsy took the value creation approach and narrowed its product offering to handmade or artisan-made products. While it has created a community of buyers and sellers, it moved its focus to buyers as the core market when eBay vet Josh Silverman took over Etsy’s reins. A year after hitting an all-time low in 2017, Etsy’s stock rebounded and grew; today, it stands at USD 119.74 a share. Defining and focusing on its key audience helped the brand grow.
Once the brand identified its core audience, the buyers, it hiked the fees it charged its sellers from 5 percent to 6.5 percent. Even though 20,000 of its sellers went on strike, the company did not budge, and the results showed in the most recent third-quarter earnings in 2022, reporting a revenue bump of 11.7 percent over the same quarter of 2021, to USD 594.5 million.
Etsy is also attracting more buyers to its platform via the mobile app. In 2021 alone, the brand reported a 45 percent increase in app downloads bringing 5.7 million new shoppers to download the app. The brand also leverages targeted, compelling email offers based on items favourited or shops browsed. The brand funded discounts and sent them to 18 million shoppers in 2021, and also provided discount technology allowing shoppers to discount goods from their shops. The brand also encourages buyers to follow more shops through sweepstakes and contests.
The brand also offers multiple additional services to facilitate communication with sellers, on-platform transactions, and access to ratings and reviews.
Etsy allows its sellers to voice their concerns with congress members and local and federal governments. And lastly, the brand continuously invests in retail technologies like machine learning via acquisitions. The brand has designed convenient distribution channels, upgraded buying and selling software and merchant services, and improved its social media presence to boost brand awareness. This month, Etsy rolled out a new image search feature to allow shoppers to find an object faster than with a keyword search. Users on iOS can now tap the camera icon and search for images by uploading a picture. Etsy then scours its platform to find products visually similar to the ones the user is searching for. Etsy plans to expand image search to Android app users soon.
The Results
Etsy’s impact on the artisan economy is robust. The most recent quarterly earnings report disclosed revenues had risen to USD 198 million, a 31.64 percent increase year over year. Etsy currently holds a market cap of just under USD 5.5 billion – quite a climb from its USD 1.1 billion market cap back in March 2017. The brand attracted 6.3 million shoppers in the third quarter of 2022, ending with 88.3 million active buyers on the Etsy marketplace.
In most developing nations, the handicraft industry is fragmented, lacking legal Intellectual Property laws surrounding its products, and artisans not getting fair compensation for their craft.
In most countries, handcrafts are highly valued because of the high skill level and talent required and are sold in luxury stores at premium prices. However, although India has a rich culture and many categories of handicrafts, they still need to be given their deserved value and place. Ramesh Menon founded Save the Loom, a nonprofit community group to revive, restore, and restructure the handloom industry in India.
Many other such organizations are helping artisans overcome the many challenges they face. However, online platforms and eCommerce websites like Etsy, Folksy, Amazon Handmade, and others have helped create a viable worldwide path forward for the handmade industry.
While not every product fits the artisan-made model, the lessons from this growing trend apply to all categories. Consumers want to feel connected to the story behind the product, how a product is made, and the feel-good impact on the environment and people after purchase.
For more insights into the shifting trends in online shopping and consumer behaviour around the globe, download our complete report, “The Future of Online Shopping.”
Product managers and designers frequently get requests to design new products and add new features to existing products, making it difficult to determine which ideas to invest in for the best outcome.
This is where concept testing comes into play.
Concept testing ideas and even features for existing products before moving into implementation and design is the best way to approach a customer-centric product development process.
What is concept testing?
Concept testing is a market research method to get user feedback before bringing a new product or feature to the market. It often allows users to provide their input on potential solutions. When end users are involved in the initial product development and design phase, it takes the guesswork out of what consumers want and allows them to shape the idea before it is launched in the marketplace.
It involves putting the idea in front of real consumers and asking them to assess the product’s value in multiple areas.
Whether the goal is to bring a new concept or product into the market, update an existing product, or change pricing or messaging, input from real customers translates into informed decision-making. This allows brands to save time, money, and resources while preventing financial losses due to failed products and also helps protect the brand and customer relationships.
In today’s highly competitive business environment, brands need to employ a customer-centric approach, and all decision-making should start and end with the consumers’ interests and preferences in mind.
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The value of concept testing
According to studies, more than 25 percent of total revenue and profits come from launching new products, which is true across industries and product categories.
With concept testing, brands can validate an idea or vision before investing valuable resources into building something that may not resonate with its users. It also helps brands identify potential challenges in executing the idea. Concept testing precedes usability testing, which must be conducted once the refined design prototype or wireframe becomes available. Product testing is crucial and happens after the final product is ready for launch to get first-hand information on how consumers will respond to the final product.
Launching a product or service is a massive undertaking, even for larger organizations. Research shows only 55 percent of all product launches occur on schedule, and 45 percent are delayed by at least one month.
Therefore, brands must ensure the product resonates with the end user before launching it. Concept testing helps confirm that your assumptions around a solution or idea are correct.
Concept testing comes after the ideation phase and is a way of testing ideas that have been developed to an extent but need further refinement and provides a more detailed understanding of the needs of your potential customers.
Concept testing may also be used to design a complete User Experience (UX). According to studies, every USD 1 invested in User Experience (UX) design results in a USD 100 return. Providing consumers with a seamless UX is crucial for brands to stay competitive in today’s volatile market conditions.
Concept testing should be considered an unobstructed learning process where brands open the concept up to end users to discover their perceptions —without any predefined parameters.
Benefits of concept testing
Concept testing minimises risk and is easy to set up.
Concept testing allows brands to test and understand how real consumers will feel about the product before investing time, money, effort, and resources into it, minimising the risk of product failure.
Concept testing can help you optimise the concept before the launch.
Concept testing can provide more information regarding the potential roadblocks to implementation, consumer perceptions, price perceptions, competition, and how the new concept fits into the brand.
It also allows brands to test multiple solutions or concepts to arrive at the best one and helps provide some information on potential market demand.
Research helps forge strong brands.
Concept testing is a great way to show consumers and investors that your brand believes in constant innovation, has a customer-centric approach, and is transparent. This helps boost loyalty and enhance brand value and equity.
Concept testing prevents costly mistakes.
Even some of the biggest brands, like Google and Coca-Cola, are not immune to making mistakes due to false assumptions about what consumers want (or do not want).
In 2012, Google first announced Google Glass —an eyeglasses-shaped head-mounted display with smartphone functionality. It was based on the premise that “technology should work for you —to be there when you need it and get out of your way when you don’t.” The brand wrongly assumed what consumers wanted from technology. In 2015, the company discontinued the product due to low market demand.
Coca-Cola is another great example illustrating the importance of concept testing. When Coca-Cola’s flagship cola drink started losing market share to Pepsi, it changed its drink formula for the first time in 99 years. It introduced New Coke, which failed miserably. The brand reintroduced its older recipe and rebranded it as Coca-Cola Classic.
Similarly, in 1990, US-based beer Coors introduced Coors Rocky Mountain Sparkling Water to tap into the fast-growing bottled water segment but fell flat as the Coors name confused consumers.
Concept testing boosts confidence in product launch and team buy-in.
If you have a concept but need to assure the senior team that it will work, concept testing is the best way because you can show evidence that real consumers will use it.
The importance of well-designed questions
Over 80 percent of all new products fail, and concept testing allows brands to determine if a new product or feature is a good market fit by asking real users the right questions.
Therefore, you must ask the right questions that will give you valuable insights into the needs and requirements of real users. Determining the metrics, you will measure in your concept testing is crucial.
You will set your goals depending on the concept and methodology you choose, and your survey questions should aim to reach these goals. For instance, if you are testing a new type of single-serve, wireless blender, the goal is to determine if your potential customers need a product that makes smoothies on the go. The questions will revolve around understanding the consumer better and if they need a solution like this, along with any other features they might want to see in this blender, for instance, a sippy cup cover or straw to go with it.
This is where research design comes into play, and the research questions depend upon the business need. For instance, if a brand is taking its concept to a new market segment, they need to conduct a needs analysis using qualitative and quantitative research methods. The questions will be designed to find out if the concept will work in the new market.
Let’s say the brand is testing a new concept before its initial introduction. In that case, they need to conduct Concept Fulfillment utilizing qualitative research to determine if there is a need for the new product concept.
Some common goals brands set for concept testing are as follows.
- Get a metric on how likely existing customers and new market segments will be to purchase the product.
- How the product will do based on current competition in the market, and what features will make it stand out.
- Learning which features would get existing customers to purchase from the brand.
These goals provide brands with invaluable, high-quality data and insights into consumer behaviours, attitudes, and preferences.
Concept testing methodologies
Brands test concepts in many ways and all the methods involve getting feedback from potential users on the idea’s validity. It can be done via a face-to-face or remote interview. Depending on the concept and the study’s goals, it can be done asynchronously or unmoderated.
There are four standard methods for concept testing. They are based on the number of ideas you want to evaluate.
Comparative testing
This method is used when you have more than one potential concept to test. Brands use the comparative method to see how multiple concepts measure against each other.
When using this method in a survey, respondents are asked to rate each concept against a set of criteria. Questions must be specific features that can also be ranked to determine which features are most preferred by respondents.
Monadic testing
Unlike comparative testing, monadic testing shows research participants one product or idea.
This concept testing takes your entire target audience and breaks it into subsets, showing only one concept to each. These user-friendly tests provide a deep dive into the consumer’s mind. They also reduce bias and provide accurate results.
Sequential monadic testing
A sequential monadic survey shows your entire target audience or a subset of the audience, either all of your concepts or some of them—with at least two concepts being shown randomly.
Proto-monadic testing
Proto-monadic testing combines sequential monadic and comparison testing. It asks participants to analyze concepts and compare features to help them choose the best concept.
Steps in Concept testing survey design
When you’re ready to test your concepts, there are four steps to follow:
Choose the most suitable methodology for your business needs.
Select the best methodology depending on the scope, time, and number of features or concepts being tested.
Set a goal.
Work backwards, set a goal based on the objective and the information you want to gather from your customers, and design survey questions accordingly.
Choose survey components appropriately.
Make sure you use the most appropriate components for your surveys. From Likert scales to images and demographic questions, brands should carefully make these choices to design a survey with questions that will produce valuable data.
Identify the most promising concept.
Review the collected data to get a clear picture of the concept favoured by the target market. Dive deeper into the most desirable features to determine which concept has the highest potential for market success.
If the data reveals something unexpected or is something you did not imagine before, feel free to change course. This is why you conducted concept testing in the first place —to ensure the concept works in the marketplace. The ultimate goal of this study is to do what’s profitable for the brand.
Real-world examples of Concept testing
It’s one thing to determine if people want a product or service and yet another to say they are willing to open their wallets and buy the product.
This is where purchase intent testing comes into play. This helps determine if people will purchase your product or service at your desired price.
Many brands test the product without the price first to gauge consumer interest and later add price to determine purchase intent.
US-based Electric Vehicle brand Tesla conducted purchase intent testing for a car model before it even designed it.
In 2016, the pioneering EV automobile brand tested purchase intent for the Tesla Model 3 before it was even designed. Interested buyers were asked to put down USD 1,000 for the Tesla Model 3, and about 400,000 people ended up putting down money to book the car. The participants also provided feedback on the car, and Tesla made modifications and features based on real customer input. This also gave Tesla the confidence and the capital needed to develop the car.
Another undefeated brand due to its concept testing research is Denmark-based Lego, a plastic building-block toy company. For years, Lego was predominantly bought for boys, so the brand conducted extensive market research to discover that boys and girls played with Legos differently. Boys preferred stand-alone structures, while girls enjoyed recreating backgrounds, scenes, and environments.
In 2012, based on these findings, the brand launched the Lego Friends product range with cafes, salons, supermarkets, and so forth to tap into the new consumer segment successfully.
Concept testing is a great way to evaluate and identify winning product concepts. It promotes innovative thinking and developing products, features, and pricing that resonates with end users. It allows brands to stay ahead of the competition by developing and designing concepts based on market demand and creating products only after testing the idea and getting invaluable feedback from real consumers.
Kadence International helps leading brands make game-changing decisions. If you are looking for a research partner to help better understand your customers, we would love to help. Fill out our Request for a Proposal here.
Back in the day, Qualitative research was all about understanding the person behind the responses by watching his actions, behaviour, mood, tonality, and other giveaways while talking about specific products and services. We still do it (some of it) but with less dependency on human competence and more reliance on the tools believed to be fast, precise, and less intruding.
In Qual research, most of these tools are used for analyzing data, app testing, and emotion decoding through Artificial Intelligence (A.I.), which can address multiple research studies like UI/UX testing, NPD, product/concept test, etc. While these tools help capture the required details without bias, they still have some limitations.
Typical Qual research is done to understand:
- Human behaviour and interaction with various categories (brands/ services/products)
- Trends and impact
- Product and concept evaluation
- Segmentation (Pen portraits)
- U&A
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Researchers apply various approaches to meet the objectives depending on the overall scope of the research project. However, basic principles like the need to be an open-ended, free-flowing discussion to gain in-depth knowledge and reasons for a particular behaviour or response and generate actionable insights stay the same.
These days, technology is helping make research much more accessible and cost-effective for brands, but it is yet to be seen if it serves the intended purpose.
Before the pandemic, online interactions were not a preferred research methodology for most brands as they offered a different experience than face-to-face interaction and were considered an ‘optional methodology.’
However, the pandemic changed that as there was no option other than doing online research and gradually posting using an online methodology for various research activities. Brands found it to be both cost and time effective. With this began the race for offering/ innovating several tech/ tools to enable Qual research to deliver insights irrespective of situational limitations. There are hundreds of ‘tech research agencies/boutiques’ currently offering various tech solutions like UI/UX, Neuro, A.I.-enabled analysis (from transcriptions/ recording), and emotion decoding tools, and a considerable amount of R&D is already happening in this area.
These tools are certainly helpful in today’s era when not just research but the overall ecosystem is evolving, and tech has become the backbone of any new venture. There are so many start-ups today, and India has emerged as one of the growing ecosystems for start-ups; currently ranked third globally with over 77,000 start-ups, this number is growing yearly.
Most start-ups are tech-based and have apps for better user experience, easy access to data, and increasing adoption rate of new services and products.
Most of these start-ups utilise research to get feedback on UI/UX and check what can be improved to provide a better experience and increased engagement. A few years back, researchers typically carried out these research activities at a CLT set-up with a couple of cameras. Still, now this can be done on mobile phones using another platform (app) for decoding user interaction with the app to be evaluated.
Tech has helped explore new avenues and reshape old methodologies like G.D.s, Ethnos, and diary placements. Now, online methods are used widely, and it is still to be seen whether this phenomenon will stay.
While online methods have certain limitations, like missing the human connection —one of the basics of any Qual research, there are certain aspects wherein technology is not as helpful or hasn’t yet been developed to cater to those needs in terms of tech evolution / AI.
But there are certain spheres wherein technology has worked brilliantly for multiple reasons.
India is extremely tech-friendly.
Most of the brains in the tech world are from India, and we indeed take pride in saying that. People in India are curious and open to using new technology in every sphere of their life —be it a smartwatch, smart T.V., payment apps, food ordering apps, health trackers, cab booking apps, or high-end technology like smart homes or A.I. technology. With a growing number of start-ups, a young workforce, and evolving technology, end users prefer new tools and products for better, unbiased, and faster results. However, cost efficiency is still a grey area that will also be addressed as time goes by.
Learn more about how to develop a market entry strategy for India here.
It helps understand the customer.
Marketers want to know their customers better to increase sales and saliency through precise and tailored communications.
Brands track data to get a complete understanding of their potential customer and offer relevant products/services. This helps close the “say-do” gap, and layering this with specific Qual interactions helps in a deeper understanding of this behaviour.
It is cost-effective.
Though using technology for online interactions, mobile or digital diaries, and online communities is more economical than face-to-face interactions, other dimensions like UI/UX tools and analysis tools are still expensive, and only a few agencies offer integrated solutions. This area will undoubtedly see many innovative solutions that address issues cost-effectively in the coming years.
It removes bias and is more credible and faster.
Using apps/ tools/ tech for capturing and analyzing data adds credibility and saves time. Respondents can upload pictures/ videos in real-time and share their stories with a broader group or in a one-to-one setting. Less human intervention removes bias, and data output can be visualised in multiple ways per the client’s requirement.
Though there is nothing wrong with moving ahead with time, there are pros and cons of using technology for Qual research. It remains to see what else tech can add to understand human beings better, as Qual research is not just about evaluation but also about understanding the subject more deeply. Face-to-face interactions help form a temporary bond and comfort level wherein respondents share much information about themselves, their family, occupation, finances, and buying behaviour, which is a shortfall when it comes to online interactions or using any tool/tech.
Tech can be an enabler but not a tool to understand human emotions through superficial levels. We can decode a few things like facial emotions and System I/II responses, but a deep and detailed understanding of a particular human being would always require human intervention. It is yet to be seen how much more we can do with ever-evolving technology and how it can impact the market research ecosystem. But one thing is certain: traditional Qual is here to stay as no amount of technology can completely replace human-to-human interaction and understanding, at least not in the near future.
Digitization has reset the online shopping game board, and the pandemic has accelerated technology adoption by both brands and consumers. Today, the most successful retailers have adopted technology at warp speeds. With breakthrough technology complementing every step of the retail process, where are we headed?
Download our complete report, “The Future of Online Shopping,” to find out.
Here’s a summary of the most significant trends shaping the future of online shopping worldwide.
Trend 1: The Future is ‘Phygital’ — Reinventing the retail experience.
At the intersection of physical and digital is a connected retail environment where consumers are placed at the centre. In this consumer-centric, channel-agnostic, connected environment, consumers can buy online and pick up from stores.
They can try clothes and accessories virtually, in-store or online, browse large touchscreens for product information, dispense products from vending machines, and even scan an aisle in a grocery store to view an overlay of information about products.
The future of retail is omnichannel, an approach providing customers with
a unified shopping experience. This approach connects experiences across multiple touchpoints, including brick-and-mortar, web, and mobile apps.
Discover how Singapore’s NTUC grocery chain increased retention and repeat business using an omnichannel approach.
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Online Financing Options – “Buy-Now-Pay-Later.”
Retail brands are removing barriers to make the shopping experience as frictionless as possible, including easy financing terms.
Apps Making Online Shopping Seamless.
Mobile apps offer retailers an engaged audience they can easily connect with to sweeten their shopping experience, building loyalty and driving in-store sales.
Download the complete report to discover how Shopee, the leading eCommerce online shopping platform in the Philippines, Taiwan, Thailand, Singapore, Malaysia, Indonesia, and Vietnam, and Sephora, a multi-brand beauty retail store, leading the way in making the shopping experience seamless.
Trend 2: DTC brands are booming worldwide.
Direct-to-Consumer (DTC) has disrupted the eCommerce industry. As more brands manufacture, design, market, sell and ship their products directly to customers, they are more agile than traditional brick-and-mortar retailers.
Download the complete report to learn how Nike tapped into the DTC space along with other legacy brands.
Social media advertising significantly contributes to DTC sales; however, rising ad prices damper many of these brands.
Download our report to discover how DTC brands target users in a cookieless world.
Also, learn how a home-grown Vietnamese DTC start-up raised USD 2.3 million in the middle of V.C. winter in the country.
Shein, another DTC brand based in China, adopted and perfected its business model and developed a massive, vibrant, international community around Shein with a customer-centric approach.
Download our report for the complete case study and discover how Shein has tapped into a massive international market of online fast fashion shoppers in the U.S., Europe, the Middle East, and other big consumer markets.
Trend 3: Influencers are the new sales associates.
In a crowded digital space, where media consumption is highly democratised, brands seek attention by creating entertaining content that moves the audience.
Consumers are now in charge — and rather than listening to brands, they listen to peer-to-peer advice on products and services. Consumers are increasingly filtering content, ads, and posts that reek of brand promotions in favour of posts and promotions from people they trust, a.k.a. Influencers.
So who are the top Instagram influencers right now?
Download our report to find out who owns the top spot for earnings per paid promotion, and learn how Kim Kardashian sold 150,000 bottles of perfume within minutes on a live stream in China.
Trend 4: Personalizing the online shopping experience.
Customers have spoken. They don’t just want personalization; they expect it from brands.
Research shows that when brands provide personalised experiences, 80 percent of customers are more likely to purchase. When brands personalise a customer’s experience, they anticipate what they want and deliver it to them, increasing engagement, improving conversions, boosting customer loyalty, enhancing the experience, and gaining a competitive advantage.
The future belongs to retail brands that master the omnichannel experience.
Consumers are tightening their purse strings due to inflation and the fear of an impending recession.
High prices of fuel and food are impacting consumer spending. It’s time for brands to get more creative, and eCommerce sellers are in a favourable position to weather the economic downturn using competitive pricing software and data-rich touchpoints.
The fitness industry is rife with technology trends that have recently transformed the industry. One of the most significant digital fitness trends worldwide is the rise of fitness apps. A fitness app is an application related to health or fitness that users can download on smart devices, such as laptops, phones, and tablets. It may be accessible on the Android and iPhone operating systems. Fitness apps use artificial intelligence, machine learning, and other technologies to give users customised workout plans.
Fitness users see tremendous value in online training because it is entertaining, provides many new opportunities and workouts, and allows them to share their experiences or compete with other app users.
Another reason for the rapid adoption of these fitness apps, which give users instructions on exercise routines, diet and nutritional programs, physical activity tracking, and other fitness and well-being-related topics, is convenience.
Apart from that, these apps provide access to real-time data, which allows users to track progress over time. Most apps provide users with an opportunity to win new training milestones. They can be used with other devices, such as a heart monitor, to offer workouts and levels and motivate users to perform just like a trainer or coach would in a live class.
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The global fitness app market was valued at USD 1.21 billion in 2021 and is projected to reach USD 5.41 billion by 2030, registering a CAGR of 18.1 percent from 2022 to 2030.
According to the online public health resource, more than 97,000 fitness and health apps are on tablets and mobile devices (Health Works Collective). Additionally, roughly 15 percent of smartphone users between 18 and 29 have installed health apps, and approximately 52 percent access health-related information through their devices.
According to a survey of users in the United States conducted during the third quarter of 2022, awareness of mobile fitness tracking apps reached 86 percent of respondents in the last measured quarter. Also, 34 percent of respondents actively used apps in this category.
Despite the many benefits and the convenience of working from anywhere, not everyone will transition entirely to online training. Current trends show that most people are looking for a hybrid approach and will take a class or go to the gym while also working out using a fitness app.
Let’s examine the Sweat fitness app case study to understand what drives the fitness app market.
Case Study: Sweat
From personal trainer to managing the biggest fitness community in the world, Sweat is a fitness app that built a community to succeed in the highly competitive fitness app market.
The Big Idea behind Sweat
Kayla Itsines, an Australian personal trainer, started a fitness business at 18 from her home in Adelaide. She soon discovered the mobile device as the perfect tool to help her clients achieve their fitness goals. She joined hands with two other personal trainers and launched Sweat: Kayla Itsines Fitness app. This resulted in a complete fitness program, the Bikini Body Guide, with two options for home and gym.
The program SELF-Post: Pregnancy with Kelsey Wells focused on new mothers and Yoga lessons with Sjana Elise Earp for a healthy body and mind. In this manner, Kayla ensured users wouldn’t sway toward other apps if Sweat could become their go-to for total body and mind well-being.
Let’s look closely at the main strategies used to acquire valuable users and turn the app into a multi-million dollar brand.
The idea behind the app was not how you look but how you feel. The app was built on a “try-before-buy” concept. Like many other apps, the app offers users a free trial for a week. At the end of the seven-day trial period, users must subscribe and pay a monthly fee of $19.99. Therefore, if they see results in the first seven days and feel it is a worthwhile investment, it is easy to hook them in with the free trial period.
The app is hyper-focused on its target audience, primarily women —the branding, content, and style are all targeted toward women.
Sharing results with before and after pictures
The app uses before and after pictures to demonstrate its effectiveness. This is what helped grow subscribers and kept bringing them back. As Kayla shared her clients’ results, she managed to retain and grow her subscriber base. By adding the other two programs to the app with Elise and Kelsey, she ensured they stayed consistent with other apps.
Becoming an Influencer
From not knowing much about the social media landscape to make the list of most appreciated fitness trainers on Forbes, Kayla leveraged her following to grow the app organically. Her YouTube channel has a sleuth of videos that women can follow worldwide, and she currently has 412,000 subscribers. She leveraged social media to grow her subscriber base by using organic techniques to acquire new users.
Building a community
Kayla tapped into the power of community to reach millions of women worldwide.
Since its inception, the Sweat app has been downloaded more than 30 million times. In 2020, the app generated USD 99.5 million in revenue. Sweat’s success lies in its community-first approach, as users share before and after pictures and success stories. This, in turn, keeps other users motivated as they can see the results and believe that it can happen to them, too, if they stick with the program.
In 2021, Kayla sold Sweat, their popular workout platform, to fitness-tech company iFit for a reported USD400 million.
By increasing engagement, fitness apps have proved to be an excellent solution for users worldwide. These apps are also perfect for studio owners looking to supplement their regular brick-and-mortar service.
Technology is progressively making a place for itself in fitness routines and monitoring and treating many chronic diseases.
How do you ensure your brand has its finger on the pulse of this dynamic market and constantly changing consumer preferences?
Download our full report, “Feeling Good: Powering the Next Generation of Fitness and Medtech,” report and find out how brands like Peloton, ŌURA, Noom, Headspace, and others are navigating a fiercely competitive market.
Big data and advanced analytics are hot. Voluminous sets of data can be processed automatically using technology. But the data becomes useful only when it is converted into meaningful information. While Big Data has become the buzzword today, it is of little use if it’s not profitably analysed.
The global Big Data and Analytics market is worth USD 274 billion. Around 2.5 quintillion bytes worth of data is generated each day. There are currently over 44 zettabytes of data in the entire digital universe.
So what is big data exactly, and how does it impact companies?
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Big data refers to large sets of data obtained from multiple sources, like medical records, government records, customer databases, mobile applications, search engines, business transactions, social networks, and other massive data sources. Big data may be structured or unstructured, allowing brands to manage large amounts of data more efficiently. Many organizations are moving away from legacy systems and consolidating data to make the research process seamless, cost-effective, and efficient.
Technologies like text analytics help 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.
Big data market research is invaluable for brands as it combines consumer and behavioural data with advanced analytics to enable faster decision-making that yields improved business outcomes. When big data and market research converge, everyone wins because it results in better, more relevant products and services for the consumer and a competitive advantage for the brand.
Big data and market research convergence allow brands to dig into data to uncover the “why” behind the numbers. Let’s say, for instance, a brand uses data mining to discover a sudden decline in the market share for a high-end product in a specific market. Using market research methodologies, it studies a sample of consumers that have exhibited a change in buying behaviour to unearth what led to the change. Was it a new product that entered the market, or did they reduce spending due to the economic climate?
These reasons are not presented in the data, and market research can help uncover the “why” behind a data set.
Today, the digital consumption of information, products, and media makes everything measurable on a large scale. Social media analytics is an example of big data used on a massive scale globally.
How does big data impact business?
A 2020 study showed that around 94 percent of organizations believe data and analytics are essential to growing their brand and supporting digital transformation. The study also found that the financial, hospitality, telecoms, and retail industries invest the most in big data and analytics.
Big data in the Banking and Financial Services sector
The application of big data analytics has allowed financial services companies and banks to become more efficient, customer-centric, and competitive. This industry utilises big data to make transactions, trading, and financial activities seamless for their employees and customers.
Retail and eCommerce
The eCommerce and retail industries collect data through their Point of Sale (POS) systems, loyalty programs, and website browsing behaviour. It also helps with inventory replenishments.
In the eCommerce industry, knowing your customers can unlock conversions and profits. Big data on real-time consumer behaviour, purchase history, and consumer preferences can help online stores recommend the most relevant products and offer them to consumers at the right time. Big data enables e-stores to conduct competitive analyses and pricing to lure consumers. Above all, technology allows online retailers to offer personalization, superior customer service, and experience.
While these industries invest heavily in big data, they are not the only ones. Many sectors like manufacturing, logistics, media, oil and gas, and healthcare are investing large sums of money in adopting this technology to manage their data efficiently.
Big Data analytics for the healthcare industry is expected to reach USD79.23 billion by 2028.
For most companies, data is fragmented, and brands are looking for people who can analyze and use data to optimise all business processes and functions.
Big data impacts not only the private sector but also the public sector. For governments, big data has many applications, including health-related research, financial markets research, fraud detection, public safety, transportation, and environmental protection, to name a few.
Advantages of Big Data
Massive organizations like Google, Facebook, and Amazon have proved how big data can build big brands. These organizations have capitalised on big data mining and analytics to grow their brands and boost market valuations.
One of the most significant advantages of big data is the ability to make informed decisions based on hard data and facts.
Big data is valuable for consumers too. In the information age, the consumer can access ratings, product reviews, and an easier means of providing instant real-time feedback. This allows consumers to make informed choices.
What are the challenges with big data and analytics?
As recently as last year, Facebook’s Mark Zuckerberg, Google’s Sundar Pichai, and Jack Dorsey of Twitter had to testify before Congress about the steps they have taken to deal with data privacy.
Consumers have become more data savvy and are concerned with privacy issues and breaches. <add stats on #s ready to share data for more relevant messaging)
Business outcomes are only as good as the data; high-quality data (link) is of utmost importance. Researchers and brands must be cautious about the data sources and methodologies to obtain the most accurate, reliable, and relevant data.
The big data market is poised for phenomenal growth in the coming years. With the development of technology penetration across all areas of life, digitization, and the widespread use of smartphones globally, large amounts of data are produced every second. This has led to the need for data analysis and big data.
As brands apply big data, they make data-driven decisions faster and can respond quickly to market changes. This has a direct impact on their bottom line. But data is not enough; there has to be a fusion of data science with marketing science to help market research become more effective.
Kadence International helps leading brands make game-changing decisions. If you are looking for a research partner to help better understand your customers, we would love to help. Fill out our Request for a Proposal here.
According to the Global Research Business Network (GRBN), confidence in the market research industry has remained stable, and trust in data analytics has increased in 2022 compared with 2020.
Still, market research as an industry needs to constantly work to improve the perceived value of research. The way to ensure this happens is by addressing the main challenges of obtaining high-quality data.
The importance of data collection in market research cannot be emphasised enough. This blog post will analyze the main obstacles brands face in this area and provide guidance on how market researchers can tackle these challenges with the help of technology.
The methods you use to collect and analyze data will significantly impact the quality of your market research report and its value in decision-making. The five best data collection tools for market research are surveys, interviews, focus groups, observation, and secondary sources.
Understanding the best methodology to get the most accurate, error-free, and reliable data is essential.
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What is data quality?
Data quality is a complex, multi-faceted construct. Quality data is data that is fit for its purpose and closely relates to the construct they are intended to measure.
Let’s take the example of a brand like Amazon’s Audible and try to predict what type of books a person would be interested in based on his previous listening history. The data is likely high quality because the books subscribers have listened to in the past are a good predictor of what they would like to consume in the future. The books they have listened to in the past also have a close relationship with what you are trying to measure, in this case, book preferences, which makes the data high quality.
Reliable data requires a high-quality sample with enough information to make conclusions that inform business decisions. For instance, in the same example of Audible, if a subscriber uses it only once in a while and has only listened to one book in six months, it fails to present a complete picture of the user’s preferences due to limited data or information available.
In the example used above, the data is available in the app and is much easier to collect. However, this is not always the case. Many instances of market research involve collecting data from people taking surveys, user testing, or recollecting past experiences and feedback, which are much more challenging to measure.
So how do you ensure you collect high-quality data that informs decision-making at every step of the organization?
Utilise technology
As the world has moved online, so have many market research methodologies. Many companies have been forced to move online quickly, which has been a blessing in disguise for them. Technologies like automation and Artificial Intelligence (A.I.) have allowed brands to obtain transparent, reliable, and accurate data more efficiently.
Technology can also be beneficial in identifying bad data. Automation helps select the best pool of candidates for a study and helps achieve a more balanced view of the respondents. It can help reduce subjectivity and bias, scale costs, and improve project speed and efficiency.
Advanced profiling
To yield high-quality data, you must obtain a 360-degree view of the user or consumer. A good data scientist will study the consumer using all critical data points, like browsing history, purchase history, online behaviour, cart abandonment, geolocation, and other relevant data.
Proper Planning
Excellent outcomes need proper planning, which is valid for everything, including market research. The entire team must understand the research study’s objectives before doing anything else, including all the early actions, like identifying the right participants for the study. Researchers can then create a sample plan based on key objectives and participants. This will become the basis of the methodologies used and the survey designs. A good market research study also employs a screener to ensure they only include participants relevant to the study.
Recruit the right people
At Kadence, we firmly believe your research is only as good as the people participating in your study. When carrying out a virtual study or focus group, it is vital to make sure people doing the testing or surveys are genuine and suitable for the particular study. Researchers must hunt down even the most difficult-to-reach audiences, as you need the right people for the research to yield unvarnished results.
Ensure complete and active participation
Making surveys more engaging will always lead to higher participation in online surveys. A well-designed survey with clear instructions will ensure higher participation and more honest responses.
Throughout the survey, researchers can include questions to ensure participants are paying attention and potentially weed out those who are off-track and disengaged.
Screening dishonest participants
Researchers can go a step ahead to eliminate dishonest survey participants. Online surveys can identify potential red flags where people provide false demographic information so they can qualify for studies with high rewards.
Researchers can selectively target participants who have been profiled in the past to avoid participants with false demographic information.
Develop a system of efficient, consistent data quality checks throughout the process
Market researchers should always have an effective and efficient plan for weeding out bad data throughout the study. Automating and utilizing suitable technology can ensure you safely streamline the quality check process in real time.
A critical challenge with market research is the ethical collection and use of data. Discover why ethics are vital in data collection and how to ensure your data collection is always on the right side of law and ethics here:
The ultimate goal of market research is to obtain high-quality data that is accurate, relevant, and reliable. While well-planned and thoughtfully designed studies can yield effective results to inform decision-making, poorly planned and designed ones can lead to poor business outcomes.
The stakes are always high, so it is crucial for brands and researchers to constantly improve data quality and reliability to save time, money, effort, and resources and lead to better, more informed business decisions.
Kadence International helps leading brands make game-changing decisions. If you are looking for a research partner to help better understand your customers, we would love to help. Simply fill out our Request for a Proposal here.
Clean eating profoundly impacts food production as consumers worldwide gravitate toward healthier, cleaner foods.
In 2022, the global health and wellness food market was valued at USD 841 billion and is projected to increase to one trillion U.S. dollars by 2026.
What is clean eating?
Clean eating might have various interpretations for consumers, but it generally refers to eating whole foods as close to their natural state. Consumers that opt for clean eating usually prefer making their meals from scratch. For food and beverage companies, this means using suppliers who cultivate high-quality ingredients and organic farming. These typically come from smaller productions, which means higher prices for consumers.
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Consumers want to eat healthily, but the price is an obstacle.
The pandemic has put health at the forefront and changed our relationship with food. Consumers want to eat healthier, and this has been the most significant lifestyle change in recent years, followed by working out more often.
With the impending recession and high inflation rates, spending less money is also a priority.
Consumers are looking for “farm-to-table” foods, and the buzzwords are healthy foods that are accessible. These consumers want to know what is in their food and where it comes from.
Health and wellness factor heavily in purchasing decisions, and food production brands adapt to the trend. Protein-rich foods and superfoods with high antioxidant values are foods that more health-conscious consumers prefer today.
Superfoods refer to nutritionally dense foods or foods that are exceptionally high in vital nutrients. Some commonly regarded superfoods are salmon, kale, blueberries, chia seeds, acai, and quinoa.
Statista states that between 2016 and 2017, retail sales of quinoa grew by 15.6 percent in the United States as its health benefits became more well-known. Chia seeds witnessed a 14.7 percent increase in retail sales during the same time.
Consumers are discerning what foods they put in their bodies with increasing awareness about the harmful effects of preservatives and rampant chronic diseases. While there was already a slow rise in this awareness, the pandemic accelerated the shift. For today’s consumers, it is also essential to trace where the product is from. In terms of dairy, vegetables, meat, and fruits, “locally grown or sourced” is gaining significance.
According to a survey, in 2022, 52 percent of respondents surveyed reported following a specific diet, a sharp increase from 39 percent in the previous year. Amongst those who followed a diet or plan, clean eating (16 percent) was the most popular, followed closely by mindful eating (being intentional and aware when eating) and calorie counting.
Superior quality, organic foods, and ethical farming practices
From farm-raised over wild-caught seafood to cage-free eggs and non-GMO grass-fed beef, consumers are looking for high-quality ingredients and slowly moving away from pesticide-ridden, low-quality GMO foods.
The global sales of organic food have risen between 2000 and 2020. In 2020, organic food sales amounted to about USD 120.65 billion, up from nearly USD 18 billion in 2000.
Organic food can vary wildly depending on the nation and certifying agency, but it frequently means crops grown without genetic modifications, artificial pesticides, or harmful fertilizers. Organic meat, dairy, and eggs require animals to be provided organic feed, given sufficient time outdoors, and not be fed growth hormones or fillers.
In 2019, organic food sales amounted to USD 106 billion, up from nearly USD 15 billion in 1999. The United States accounts for over 40 percent of the retail sales of organic food worldwide, followed by Germany.
According to the same report, in 2019, there were approximately 72 million hectares of organic farmland worldwide. There were more than one million organic food producers in India, which amounts to at least five times more producers than in any other country.
Ethical farming, manufacturing/ production, and distribution practices are essential to purchase considerations for many buyers. Slave trade, animal cruelty, and environmentally safe farming practices are encouraged. Many consumers won’t buy products that they know follow these inhumane and anti-environment practices.
All this comes at a high cost, and most consumers won’t pay the higher prices for organic foods, even though they would like to.
Plant-based foods
While veganism, a diet that eliminates all meat and animal-derived foods, is still a lifestyle followed by very few consumers, there is continued demand for plant-based foods worldwide.
Plant-based meat alternatives include food products from vegetarian or vegan sources, such as soy, vegetables, seitan, tempeh, or pea proteins.
The percentage of vegans differs by country. With a 9 percent vegan population, India is the leading nation by share of vegans. In the U.K., their percentage is less than 2 percent, but in the U.S., it is closer to 6 percent.
In 2021, Beyond Meat was the leading company producing alternative protein products, such as plant-based meat, with an estimated market value of USD 9 billion. The company offers burger patties, among other alternative meat products. Impossible Foods, which ranks second, is a direct competitor in this market. Brands with plant proteins, dairy alternatives, and meat and seafood substitutes attract Venture Capitalists and are amongst the most funded start-ups in many markets.
According to a report, in 2020, the global market value of plant-based meat was estimated to be around USD 6.7 billion. The market is expected to continue its growth and will reach about USD 16.7 billion in 2026. With a share of 44 percent, North America, has the largest market share in the plant-based meat market, followed by Europe, at about 34 percent.
Vegan and plant-based foods are becoming popular with the meat-eating population as well. Non-vegans regularly consume many types of meat and dairy substitutes. Impossible Foods is one of the world’s most prominent alternative protein companies. The global vegan market is valued at USD 15.8 billion, and the global plant-based food market is valued at USD 35.6 billion. The milk substitute market alone is valued at USD 19.5 billion. China and the U.S. are the largest milk alternatives markets and together account for USD 12 billion of the total global revenue.
The global plant-based food market will reach USD 77.8 billion in 2025, and the forecast projects that by 2030 the market will have more than doubled.
Contribution to a greener, more sustainable world
Consumers are looking to make more significant contributions toward a sustainable and green future, especially for younger generations, like Millennials and Zoomers.
Today’s consumers are more conscious of how they consume products and are more aware of enterprises’ impact on the ecosystem. Many consumers will stop using brands that are not environmentally friendly and will favour those that are and move their loyalty toward them. Sustainability is not restricted to just the environment and includes ethical practices and humane conditions. Packaging and reducing carbon emissions are a huge part of sustainability.
Numerous big brands have incorporated sustainability into their corporate social responsibility frameworks. Many large fast-food chains have joined the climate movement, and Chipotle Mexican Grill, a US-based fast-casual chain, is an excellent example. Besides introducing eco-friendly packaging and measures to reduce waste, the brand went a step ahead. It launched a ‘sustainability tracker’ to provide data on the environmental impact of all its ingredients. Chipotle diners now receive data on five environmental metrics on their order confirmation screen, showing carbon in the atmosphere, gallons of water saved, improved soil health, organic land supported, and antibiotics avoided.
For sustainability to happen, technology is a critical piece that can allow companies to forecast, monitor quality, and improve processes and packaging, to name a few. Factors like natural resources, labour, climate, and air quality are also important.
With this new wave of the conscious shopper, many brands need to rethink their business operations for a complete rehaul.
It is worth noting that it is a challenging change as brands grapple with offering better, cleaner foods at affordable prices.
While consumers are more aware now, can they eat as healthy as they would like, given the inflation rate and higher prices for organic, clean foods?
With the current inflation rates, consumers find even regular food choices expensive. So everything comes down to value for the consumers. If your brand fails to show the consumer enough value, they will move to a less expensive option. So brands must be proactive in delivering value to the consumers to retain them. The good news is that even though we are in a supply-driven inflationary market, employment levels remain healthy. Currently, consumers absorb rising prices by reallocating their budgets toward priority areas. However, the imminent recession will impact purchasing power, so brands need to think ahead.
For a more in-depth look at the Food and Beverage industry, download our report, “Food and Beverage Trends to Watch in 2022.”
At Kadence, we pride ourselves on being at the forefront of research innovation. We identify and explore how emerging technologies will reshape the research landscape- and share findings with the industry.
Our primary focus is identifying developments that will enhance the richness and depth of insights we deliver to our clients.
In recent years we have partnered with clients to pilot a range of new methodologies:
● Artificial Intelligence in qualitative research with Starbucks
● Blockchain survey sampling with Unilever
● Augmented Reality pack-testing with Asahi
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In late 2021 it was hard to avoid talk of the Metaverse, including Facebook’s repositioning to focus on virtual reality and augmented reality and the change of company name to ‘Meta’. Alongside Meta, there were vast inflows of investment into the metaverse infrastructure from tech giants such as Microsoft, Apple, and NVIDIA. At the same time, the falling cost of VR headsets made these accessible to many consumers (an Oculus Quest 2 VR headset fell to around £300).
As opportunities for customisation grew, our focus turned to the Metaverse and, specifically, a curiosity to understand whether the exciting developments present an opportunity for the research industry. To explore this, we partnered with a major US media brand.
Over the past few months, we have undertaken a comprehensive program of qualitative exercises in the Metaverse, an industry-first. Our pilot included focus groups, triads, and depth interviews.
All respondents and moderators participated using VR headsets. We tested a range of qualitative exercises (including co-creation), seeking to make the most of the tools available within the metaverse environment.
As well as assessing the quality and depth of insights gathered, we also examined the nature and quality of interactions between participants. Additionally, we investigated respondents’ ease of use and technical challenges that could inform future use.
The pilot has now concluded, and we are excited to share and discuss our groundbreaking learnings with the industry over the coming months at various conferences.
We will be sharing our conclusions on the following topics:
● Can we successfully harness this infrastructure to conduct qualitative research?
● What benefits does this offer over face-to-face and online methods?
● What opportunities exist for market research in the short-term and medium term?
● Will the Metaverse reshape our industry?
Please get in touch to learn more about our work in the Metaverse.
Contact Name: Rupert Sinclair, Head of Insight, UK
Email: [email protected]
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