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Enhancing Retail Business Performance through Market Research July 04, 2023 (0 comments)


Syracuse, NY--There's no denying the fierce competition in the retail sector, with customers spoilt to choose where to expend their resources. As a result, brands must utilize retail market research to comprehend their target shoppers' behaviors, preferences, rivalries, and more.

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According to a Drive Research, obtaining consumer insights allows your retail operation - digital, physical, or a mix of both - to grasp your target audience better and make judgments that work better for your business.

Drive Research noted that the different retail market research techniques include intercept surveys, mystery shopping, customer surveys, customer segmentation, shop-along, competitive research, social listening and monitoring, user experience (UX), and geofencing.

Here's more about them:

As per the article, while doing market research in-house might seem cost-effective, it could lead to bias. Thus, working with a third-party guarantees unbiased data, higher ROI, and more substantial insights. 

Market researchers also ask the right questions to your target market in the correct way.

Learn more at Drive Research.

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