The Flourishing Tech Sector in the UK Embarking on a business venture in the United Kingdom offers a plethora of opportunities, with one of the most dynamic and rapidly growing sectors being technology. According to recent statistics, the UK’s tech industry contributes significantly to the economy, accounting for over 10% of the country’s GDP. London,…
Small businesses in the UK are grappling with the challenge of establishing a strong market presence. Recent market research indicates a growing trend towards the adoption of penetration pricing as an effective strategy for small businesses. This article delves into the nuanced world of penetration pricing, unravelling its pros and cons for small businesses and…
In the business landscape of the United Kingdom in 2024, market research is not just a valuable tool; it’s a compass guiding businesses through the complexities of consumer preferences, economic trends, and competitive landscapes. According to a recent study by the UK Business Research Institute, companies that invest in comprehensive market research are 35% more…
Black Friday, heralded as the shopping extravaganza of the year, is a time when consumers eagerly anticipate jaw-dropping deals and discounts. Among the myriad strategies employed by retailers to capitalize on this shopping frenzy, flash sales stand out for their ability to create a sense of urgency and excitement. According to a recent survey, 72%…
In the realm of marketing and business, understanding human psychology can be a powerful tool. One psychological principle that can significantly impact consumer behaviour is known as loss aversion. Loss aversion psychology revolves around the idea that people tend to strongly prefer avoiding losses over acquiring gains. In this article, we will delve into the…
Small enterprises often find themselves navigating a sea of challenges. According to recent studies, approximately 20% of small businesses fail within their first two years, and a significant factor contributing to this is the inability to identify and seize opportunities in the market. Small business market research plays a pivotal role in this pursuit. In…
Brick-and-mortar stores have long been a cornerstone of the retail industry, providing consumers with a physical space to browse and purchase products. However, with the rise of e-commerce and changing consumer habits, these traditional stores are facing new challenges. In the UK, retailers are recognizing the need to adapt and evolve in order to stay…
