Which markets and segments are growing? Where should the strategic focus and industry orientation be directed? Key questions for companies in our industry – and eternally relevant. For valid answers, we at B+P Consultants supplement methods such as secondary market research with quantitative market research tools. This also includes store checks. By combining these methods, a holistic picture can be obtained for the defined sectors. Find out more about your options.
If you want to know how specific industries can be successfully targeted and developed, you need a deeper understanding of what drives the industry and what solutions are needed.
Secondary research is often used to gain this understanding. For valid and, above all, target group-specific results, however, additional quantitative market research is required. This is where international store checks come in.
Secondary market research
Secondary market research is a tried and tested method of market research. It utilises existing data material to gain insights into the market, the target groups’ usage preferences and the competitive situation.
- The greatest advantage of secondary research is certainly its speed. In contrast to primary research, it does not require time-consuming data collection. The desired information is usually available quickly.
- However, there are also disadvantages. For example, the methods used to collect the data are not always clearly comprehensible. In addition – and this is even more serious – the data usually does not exactly match the research question. Conclusions drawn from such findings can be considerably distorted.
We at B+P Consultants also have to deal with this problem time and again. Although existing market research from a wide range of providers give an overview of market size, trends or the competitive situation within selected sectors and regions, it often contains little or no information on the packaging systems used.
Store checks
To close this gap, B+P Consultants uses supplementary quantitative market research to analyse packaging systems: international store checks.
- A store check is a structured process. It includes conceptualisation, planning and evaluation.
- During a store check, packaging systems within defined product groups are analysed and documented. This allows valuable conclusions to be drawn based on the packaging split.
- The store checks are carried out either by B+P employees or by employees of our customers who have the necessary market proximity and packaging expertise.
- Depending on the customer’s wishes, up to three large shopping centres (e.g. from different regional and national retail chains) are visited in the target region.
- Together with our customers, we develop a specific questionnaire according to which the survey is carried out. Typical questions include, for example, the description of the packaging system (bag, can, etc.), the type of closure (resealable, screw cap, etc.) or the number of facings.
- The procedure is explained to employees in detail in a Q&A session. In addition, B+P Consultants is available to answer questions throughout the entire process.
- After implementation, the collected data is analysed and assigned to the results from the secondary research. This allows a holistic picture to be generated for the defined sectors.
Strategic ace up your sleeve
Store checks not only provide precise insights into current packaging trends but are also a valuable tool for strategic planning and decision-making. By recording and analysing packaging systems in detail, companies like Converter can determine their market share much more accurately and thus make well-founded strategic decisions.
Store checks make it possible to recognise technological differences and innovations at an early stage and to drive forward targeted product developments in order to strengthen the competitive position. They also help to identify new growth segments and develop customised marketing strategies that are geared towards actual market needs.
Next step
We would be delighted to utilise the synergies from secondary market research and store checks for you. If you would like to know which markets and segments are growing and where the strategic focus and sector orientation should be directed, please contact us.
