More sensitive to price variations and affected by a mild contraction in demand - this is what describes the market research sector one year after the financial crisis set in. Even if the market suffered a 10-20% decline year-on-year, to €30 mln, the leading suppliers of market information are far from being worried stiff over what the future holds for them: clients don’t let themselves carried away anymore, but seek more direct feedback about their markets by using in-depth research.

Andi Dumitrescu, GfK: The purifying effect of the financial crisis was a wake-up call for many players

Despite the grim outlook and forecasts that indicate a 20percent decline in the market research sector, the head of GfK Romania says the number of clients has increased slightly compared to 2008, which means that more and more companies are beginning to realize the significance and need of a comprehensive market research before making important decisions.

“If in the previous years, companies were letting themselves get carried away, this year they have expressed their concern towards in-depth research over consumer behavior, detailed analyses”, Andi Dumitrescu (photo), managing director of GfK Romania told Wall-Street.

Even if marketing spending, which includes research expenses, have been severely shrunk by the crisis, consumer products manufacturers continued to invest in research. “Our clients operate in various fields – FMCG, telecom, financial, automotive, health, travel, energy and media, but the biggest spenders come from highly competitive sectors, such as FMCG and durable goods – home appliances, telecom, electronics, tech, and DIY”, said the managing director of GfK Romania.

Even if the consumer products sector has been the growth engine for market research companies, there have been clients who showed little interests towards specialized busin