Global market research company, GfK has launched a new market research initiative aimed at builders merchant.
The new service aims to give a real-time insight into how different products and brands are performing.
GfK is creating a Builders Merchants Panel – initially comprising national and large independent merchants – to gather data from across the industry.
GfK is recruiting a wide range of merchants to ensure the panel is fully representative of the sector. The Builders merchant federation, at whose open day in Coventry the initiative was launched, is encouraging its merchant members to participate.
The service is due to start in September 2013, with the first results available at the end of Q4.
The BMF will be the only trade body to be given access to GfK’s top-line merchant panel data and analytics on market growth rates, category and product performance.
This means that, apart from the merchants participating in the GfK panel who will receive detailed information on their own performance in the market as well as product line and individual brand performance, only BMF members will have access to the valuable top-line information from this report.
BMF managing director, John Newcomb said: “GfK has the knowledge and resources to capture a wealth of information and to drill down and extract meaningful data, which can aid strategic and operational decision making. In product areas where they have been involved for some years, such as power and hand tools and TVs, their data is regarded as the bible and few buying decisions are made without consulting it.
“Our relationship means that, apart from GfK’s panel participants, BMF members will have exclusive access to their market analysis, which adds to the growing range of fantastic business services we provide.”