Market Force Perspectives

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We continue to be told that brick and mortar stores are going the way of the dinosaur, that they will all be gone before long and that Amazon will be the one-stop shop for all purchases that we make. And to look at the number of retail store closings for 2017, there is certainly strong evidence to support that conclusion. Source: "There's one major thing everyone gets wrong about Amazon and the retail apocalypse," Hayley Peterson, Business Insider, July 22, 2017.And...
A Common Mistake—Focusing on the Wrong TargetWhen I was a franchise operator, the franchisor was excited about creating a successful new CX survey program. After using the system for a few months, the executives reviewed their progress and identified five key drivers of satisfaction. They believed that if all of their locations would focus on the five drivers, CX scores and revenues would naturally increase. They were so confident this would happen that they decided to set a...
Does your organization execute customer service in a flawless, exceptional manner?  It’s unlikely you’ve said yes – if you have, congratulations! It’s more likely that you’ve recognized opportunities within your organization to improve upon the customer experience. What Disappointed Customers NeedCustomers who choose to contact you about a negative experience have three core needs. They want to: Be heard Be respected See prompt action to resolve their problemA...
In February, Forrester Research released its report titled “The Forrester Wave™: Insights Service Providers Q1 2017 | Leaders Emerge in a Nascent Insights Services Market” written by Jennifer Belissent, PhD and Elizabeth Cullen. Forrester included Market Force Information® as a domain-specific insights provider in their consolidated vendor landscape. A graphic from this report calls out Market Force in an ecosystem of industry-specific, domain-specific, and...
With retail sales shifting to online, the ever-growing market share of Amazon, and trends in downsizing retail footprints, are indoor shopping malls still relevant to consumers? In a March 2017 research study by Market Force Information®, we asked over 3500 consumers about their shopping preferences—and whether they still frequented malls.Consumers’ top three places to shop included online (48%), at discount retailers (53%) and at indoor shopping malls (52%)—and of those, one third said...
In a Forrester Research article authored by Jennifer Belissent, PhD, Forrester, the author defines insights services in this way:"Insights services combine internal and external data sourcing and advanced analytics to deliver actionable business insights that clients subscribe to and apply to specific functional or verticalbusiness use cases."                      —Insights Services Disrupt The Data And Analytics Market,...
In February of 2017, Market Force fielded research about the consumer experiences at gas and convenience stations. Over 11,000 responses were received. We asked a variety of questions—including what determines where they purchase fuel. The answers may surprise you:Price  77% of consumers rated price as a key component for where to fuel. Price/gallon tends to be very competitive—within a few cents—so filling a ten gallon tank will only save a few quarters. But it...
Market Force continuously evolves its product set to meet the needs of our clients. One of those needs is providing an easy way for our clients’ internal teams to compile and report audits. We have just released our new Eyes:On audit app, a tool that saves auditors time and make data more tangible.I am privileged to work with a Market Force client in the retail industry with over 900 locations here in the UK. This client has implemented the Eyes:On app, going from an internal...
In February 2017 Market Force conducted research with restaurant guests about their most recent dining experience at a QSR or fast casual restaurant. Over 11,000 US restaurant guests responded to the research, providing information about their experiences dining at 70 brands in seven different sectors. What did guests have to say?App adoption has increased markedly. In 2015, only 11% of guests placed an order using an app. In 2017, that increased to 30%. While younger...
What can we expect from the QSR industry in 2017? A strong and improving economy over the past five years has restarted the restaurant industries’ growth engine. Money is flowing back into the space to fund expansion, growth, M&A, and revitalization initiatives, with Restaurant Brand International’s purchase of Popeyes as the most recent example.We predict five major trends will help fuel the new growth in the QSR and Fast Casual: Culinary evolution. We are seeing the...

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