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BMRA's UK Industry Performance
Latest data from the British Market Research Association shows the UK MR industry is holding up well economically. It appears to be showing better returns than other marketing disciplines, such as advertising, and has fair prospects for the present year's trading in total.
The BMRA estimates that the total industry is now worth £1.15bn, with the turnover of BMRA companies alone having grown by 7.1% in 2001, up from £1.07bn in 2000. Although this increase is smaller than the 9.3% growth posted the year before, it still outstrips inflation. However, things are not so rosy for other elements of the marketing mix. These sectors, including the big-spend areas of advertising, have had one of their worst years for a long time as expenditure has dried up.
The data also details how turnover of the 10 largest companies (which represent the majority - 74% - of all UK sales) grew by 6.5% over the year of 2000. Domestic UK sales appear to have remained robust, and grew by 7.4%, a slightly higher rate than that for international turnover, which increased by 6.3%.
Overall, this latest set of industry stats does indicate that the UK industry slowdown is beginning to be reflected in the European context. Most European countries did in fact report lower growth for the year 2001 than for 2000. Following on from this, some industry observers anticipate that, Europe-wide, 2002 will see only modest growth rates of 2% to 3% in research turnover.
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