Using third-party data to measure consumer confidence

Freemavens, a digital market research company, launched a research study in the UK to understand how to respond to customers' needs during the current climate and their overall confidence.

Summary

In a time of unprecedented change to our world, understanding consumer behaviour and in particular, confidence, has become an increasingly important task.

Measuring consumer confidence can be a difficult as there is a multitude of factors which can influence this. The traditional method of measuring consumer confidence has, to date, been in the form of a survey and reported on monthly by GfK.

Today, we now have access to a significant amount of unprompted data in the form of Search, Social and other 3rd party sources. With this, we challenged ourselves to build a new consumer confidence index (CCI),...

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