I was asked recently by a Global POP Business based in the US to provide my opinion on the current market size.
I obviously have my own views, so thought it best to back it up with some recent research. First stop POPAI. i?m appalled to report that there hasn?t been a study done since 2003! So rather than start a rant about the value (?) of such an association, i?d like to appeal to anyone in our industry to give their opinion.
Here goes mine – based on $17 billion in 2003, i would suggest a 40% increase taking it to approximately $23 billion. My limited research is based on conversations with FMCG brands, and has some bearing on the market value growth over this period.
i have read reports that suggest $50bn – do you think this is more accurate? As a service provider in this industry, the overall size of the market does not affect our day to day business. Without having this information as a starting point, i?d go as far to say that you cannot really comment accurately – its all down to a matter of opinion.
i?m told a study is to be carried out soon – will be interesting to see how close i was!
This highlights to me the importance of spotting trends, and acting early enough to be in front of the rest. This is where brands can be content in knowing that UK Retail Design is second to none, and our approach is not complacent.
This year we?ve seen some of the best creative work around – from all of the key players in the industry. One of the most exciting aspects of our industry is the evolution of the POP Agency – forcing new ideas from both old and new businesses.
Impulse have enjoyed a busy 2011, and look forward to an exciting, expansive 2012.