Home or Office: Where Are You Most Productive?
January 10, 2024
New Year, New You: Awareness of Health and Wellness Trends
January 16, 2024
As we proceed deeper into 2024, let’s look back at our predictions for the market research industry in 2023 and see what we got right, wrong, or maybe missed entirely. 2023 was much like 2022; there were economic difficulties, another war started, and inflation still plagued many of us. Our predictions were market research-focused, so let’s take a look and see how we did.
Prediction 1: Playing the Hits: Continued Consolidation
Our Grade: B-
The economy had a significant impact on this in 2023. While there were still mergers and acquisitions, the number was much less than we have seen in previous years. With interest rates rising to levels not seen in over a decade and private equity firms pulling back on investments, it was no wonder there was less activity.
Prediction 2: The Economy Continues to Look Like a Roller Coaster
Our Grade: A
We were right on the money with this one. Inflation continued to be a problem; the stock market was all over the place, and many businesses were tightening their belts and trying to improve efficiency. We also saw interest rates rise throughout the year and private equity firms slow down on large investments.
Prediction 3: Qual? Quant? Who Cares – Get Me Answers!
Our Grade: C-
We predicted a rapid rise in hybrid research for 2023. While we did see some growth in this area, it was not at the expected level. It was also overshadowed by all the AI products that were rolled out in 2023.
Prediction 4: Changes are Coming to Section 230
Our Grade: D-
We will be honest; we did not get this one at all. In May, the Supreme Court ruled to keep Section 230 unchanged. We had predicted it would make changes or remove the rule.
Overall, our predictions weren’t perfect, and the industry keeps us on our toes. Stay tuned for our predictions for 2024, as well as interesting conversations and insights along the way.
