The second wave of an Insights Association member survey indicates that market research and data collection agencies are experiencing an escalation of project postponements and diminished sales pipelines. Given this data, it’s not surprising that layoffs have picked up across the industry: 33% of data collection agencies, 22% of full-service agencies, and 13% of corporate members reported staff reductions.
Much more information about recent operational and project shifts and future outlook is revealed in the latest survey report, published by IA to better understand how the COVID-19 crisis is impacting the insights industry. Most responses to this second wave were received April 6-7 from corporations, full-service agencies, and data collection agencies working in qualitative, quantitative, software, and/or analytics. The full survey report may be accessed here.
The majority of responses for Wave 1 were received March 18-19.
The Insights Association will continue to keep a pulse on the market research and data analytics industry and share findings with members. Stay tuned for a third wave of this research soon. In the meantime, IA continues to update its COVID-19 resources page to help insights leaders during this challenging time.