“according to market research company Mintel…”.
Now something of a byword for market research, Mintel began trading in London in 1972 and grew from its small UK base, covering just the food and drinks industry, to become the global player it is now, covering the full monty of market sectors from PCs to pets, digital to diet trends, soup to spectator sports and more.
Market research fleshes out the often very dry, complex statistical data on what and how we buy, giving a detailed picture of our current likes and dislikes, with the aim too of predicting future preferences, information further broken down according to certain defined demographic groupings, ie: age, sex, socio-economic background etc., potentially providing you and your business with the information necessary to tailor your product or service to the prevailing markets, all the while keeping a necessary eye on future trends.
A quick look at Mintel’s methodology or its ‘How it’s done’ pages reveals just what makes it special. Its consumer and market profiling is the result of painstaking research including conducting original face to face & online interviews, consumer and industry surveys, detailed analysis of government, consumer and trade association statistics, manufacturer sponsored and company reports and accounts, directories, global news articles and more. From this we get a glimpse of just what makes Mintel reports worth consulting and quoting.
Mintel’s website is colourful and a joy to navigate. As well as topical ‘What’s Hot’ briefings on newsworthy items, i.e ‘Tracking the mood of the nation’, ‘Re-educating female drinkers is the key to reviving sales of red wine’, (I’ll drink to that), each individual report has a menu bar of user-friendly headings covering internal and broader market issues, competitive context, market strength and weakness, size and forecast. Reports also cover companies and products, brand communication and promotion, channels to market and more. You will also find news updates on markets and companies, together with individual company profiles. Information presentation is clear with easy linking to and between relevant sections, making what can seem like effortless navigation and understanding, with the option always to go into more detail.
In fact Mintel is marvellous. If you want to impress with your market research, then you really should put some Mintel into it because if you haven’t heard of it, you can be sure the people who count in the business world and beyond have.