GFK Set To Be Restructured
The move comes as organisations question the integrity and accuracy of GFK data especially in consumer electronics and IT markets after JB Hi Fi and Retravision WA, stopped the German organisation collecting data from their stores.
In recent months several industry executives have told ChannelNews, that their Companies have stopped using GFK data, which is collected at a retailer level, because of the high cost of the data and the decision by key retail groups like JB Hi Fi who in some categories have over 45% market share to to stop supplying data to GFK.
In March, ChannelNews revealed that GFK was not tracking house brands such as TV’s despite brands like Soniq capturing a major share of the TV market in Australia.
GFK claims that their new structure will allow the company to cover the entire purchase cycle, from media usage and advertising exposure to consumer buying behaviour.
The new structure which is set to go live from January 1, 2012 is designed to align with and take advantage of the transformations and innovations in the market research industry and the changing demands of clients in an increasingly global and digital world said GFK executives.
Professor Dr. Klaus L. WÃ¼bbenhorst, CEO of GfK said “From time to time it is necessary to take stock and assess the situation in order to be open to the new and unknown, and when appropriate, reinvent ourselves,” he said.
The new Consumer Choices division will focus on market sizing, market currencies and convergent media and sales channels.
GFK said that the new division will deliver highly detailed data which reflect the choices and actions of consumers. The present Retail and Technology sector and the Media sector’s TV, radio and print measurement businesses will be folded into the new Consumer Choices sector.
The Consumer Experiences sector will concentrate on consumers’ attitudes and behaviour.
Gary Lamb the CEO of GFK Australia is not saying whether his revenues have fallen in Australia however GFK is claiming that the two sectors will deploy new global and regional teams. Along with local offices, these teams will provide standardised, global market research solutions to clients.