Qualtrics on Market Research in 2020: The Year That Changed Everything

Look back at 2020 to see how COVID-19 accelerated digital transformation in market research, as organizations across the globe scrambled to respond to the pandemic.

COVID-19 upended people’s lives and businesses like nothing else in our lifetimes. Millions of infections around the world, more than a million deaths so far, and the likelihood of many more in the coming months are indeed grim statistics never far from our minds.

The response to COVID-19 in market research has been the same across the board — companies are fighting to increase their share of a shrinking pie, and to make their products more affordable. Our own research found that in the immediate response to the pandemic, almost two-thirds of companies canceled or postponed some of their planned research.

The next steps for market research will track closely to the wider economy, which is still clearly subject to the trajectory of the pandemic. The pressure on corporate budgets for research services will only grow fiercer in this environment, which in turn suggests that trends toward using technology solutions will continue.

From the initial shock to making sense of it, and finally responding – Qualtrics’ latest report explores how the lessons learned in 2020 can help you redefine the role of market research in your organization.

 

 

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