In this article, we explore what consumers in the US and UK really think about AI in their banking, credit, investment and budgeting tools, using new data from our own consumer research. The data highlights where AI is welcomed, where it triggers discomfort, and what financial services providers need to do if they want to build lasting confidence in AI-powered products.

Take a look at our interactive dashboard to dig into responses and segments. 

Quick summary

Here’s our TL;DR summary of the latest insights on AI in financial services:

• 62% of Americans are comfortable with AI detecting fraud – the most trusted use case.
• 59% of Brits want full transparency about how and when AI is used by their financial providers.
• 58.5% of Americans and 59% of Brits want the option to speak to a human at any time, even when AI is involved.
• 56% of Americans and 55.5% of Brits expect AI to improve their finances in the next five years.
• 47% of Americans and 45% of Brits are comfortable with AI making loan or credit card decisions, with around 30% feeling actively uncomfortable – showing hesitancy in high-stakes areas.
• Top concerns include data privacy, loss of human interaction, AI errors, job displacement and algorithmic bias.

US AI in finserv insights

Americans are tentatively comfortable with AI

We asked our US respondents how comfortable they’d be with AI being used in a few key areas of their financial lives. For every option, a majority of Americans say they’re either comfortable or very comfortable:

• Detecting fraud or suspicious activity – 62% are either comfortable or very comfortable
• Personalised offers or product recommendations – 62% 
• Budgeting help or spending insights – 60.5%
• Customer service – 56% 
• Investment advice or portfolio management – 47%
• Loan or credit card approval decisions – 47%

We generally see younger groups – particularly those aged 25–44 – are significantly more comfortable than older groups. However the youngest group – people aged 18–24 – don’t show the same enthusiasm as those other younger groups. 

There’s also a gender split when we look at the crosstab. For each option, males are more comfortable than females. We found that females show more indifference or clear discomfort with most elements of AI in financial services. 

Three fifths still want a human option 

Our results show that three fifths (58.5%) of Americans still want the option to speak to a human at any time, to help them trust financial services that use AI. 

Meanwhile half of our respondents (51%) want to know their data is handled securely and ethically. Almost 40% want to see a strong track record of fair and accurate decisions, and 38% want a clear explanation of how the AI works.

Looking again at the gender split, females show a greater desire for almost all the options. But males over-index for wanting to see a strong track record and for independent audits or regulation. 

Most people think AI will improve their finances

Over half (56%) of Americans told us they think AI will improve their personal finances in the next five years. This percentage rises to 65% for people aged 18–34, but then shows a downward trend as we work our way up the age groups. 

We found that 15% of people think their finances will be harmed by AI. There’s a cliff between the 35–44 and 45–54 age groups: 12% of the former said AI will harm their wallet, while 20% of the latter said the same. 

Males remain positive about AI’s effect on their finances: 64% said they expect theirs to improve because of AI, compared to 48% of females. 

US shoppers want AI transparency

Well over half (55%) of our respondents said they want full transparency from their financial providers about when and how they use AI. A further 26% want a basic overview, as long as they can get more detail if they want it. 

Only 3% of Americans from our survey don’t need to know about AI from their financial providers, as long as the service works well. And 9% said they’d prefer not to have AI used by their providers at all. 

What are Americans’ main concerns about AI in finserv?

We asked respondents to tell us what concerns them most about the use of AI in financial services. Here’s our AI summary of their responses:

• Data privacy and security concerns are the most prevalent, with many fearing personal information could be leaked, stolen or hacked through AI systems.
• Lack of human interaction is a significant concern, with respondents preferring to speak with real people for financial advice and problem-solving rather than relying on AI.
• Fear of AI errors and inaccuracies that could lead to financial losses, incorrect financial advice, or unfair decisions in lending or credit scoring.
• Concerns about job displacement as AI replaces human workers in the financial services sector.
• Algorithmic bias and transparency concerns, with worries that AI might make unfair decisions without clear explanations of how conclusions are reached.

UK AI in finserv insights

Brits show general comfort with AI in finserv

Our respondents said they were mostly comfortable or very comfortable with AI being used in all of the options we gave them:

• Detecting fraud or suspicious activity – 63.5% are either comfortable or very comfortable
• Personalised offers or product recommendations – 63% 
• Budgeting help or spending insights – 62%
• Customer service – 55% 
• Investment advice or portfolio management – 43%
• Loan or credit card approval decisions – 45%

However, a still significant 31% of Brits said they’d be uncomfortable with AI being used for investment advice or portfolio management, and 30% would be uncomfortable with it being used for loan or credit card approval decisions. 

And although we generally see younger groups showing more comfort with AI and older groups expressing greater discomfort, the youngest age group throws us a curveball. People aged 18–24 don’t show any notable increase in comfort with AI in finserv. In fact the only option they over-indexed for was for a greater level of discomfort with AI being used for loan or credit card approval decisions. 

UK shoppers want access to a human

Three fifths (59%) of our UK respondents want the option to speak to a human at any time – this is what would make them more likely to trust financial services that use AI. 

Meanwhile 52% want to know their data is handled securely and ethically, and 39.5% want to see a strong track record of fair and accurate decisions. 

One interesting outlier is that people aged 25–34 are particularly keen to see positive reviews or recommendations from other users. Almost half (47%) of that age group chose that, compared to the UK average of 34%. 

More than half expect personal finance improvements due to AI

Over half (55.5%) of our UK respondents said they expect their personal finances to improve in the next five years as a result of AI. There’s particular optimism from younger groups, with 67% of 18–24s and 78% of 25–34s expecting improvements. 

Just 11% of respondents said they thought their finances would be harmed by AI. Interestingly, we see the youngest group – those aged 18–24 – show an uptick here, with 16% expecting AI to harm their finances. 

Brits want full AI transparency

Almost three fifths (59%) of Brits say they want full transparency from financial providers about how and when they use AI. Interestingly we see this percentage jump to 68% for people aged 25–34, a group that also shows greater keenness overall for AI financial services. 

A quarter (24%) of our respondents would like a basic overview of AI in their financial services, as long as they can get more detail if they want. 

Only 2% of Brits don’t need any transparency, and a further 6% would prefer not to have AI used at all for their finances. 

Privacy and human connection are Brits’ top concerns

We asked our UK respondents to tell us what concerns them most about the use of AI in financial services. Here’s our AI summary of their responses:

• Data privacy and security concerns, including fears about personal information being accessed by hackers, leaked or misused
• Lack of human interaction and oversight, with worries about not being able to speak to a real person when needed and missing the personal touch
• Concerns about accuracy and reliability of AI systems, including potential errors in financial decisions and advice
• Fears about bias, discrimination, and lack of transparency in AI decision-making processes
• Job displacement concerns as AI automation replaces human workers in financial services

Take a look at our interactive dashboard to dig into responses and segments. 

Consumer Adoption of AI Report

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The post Consumers speak up on AI in financial services appeared first on Attest.

From indulgence-driven Gen Zers to the premium-seeking 35–44s, the results offer a fresh brew of insights for marketers and insights professionals navigating a $790 billion market. 

Take a deeper dive into the data over on our interactive dashboard. 

Quick summary

• Coffee consumption increases with age in both the US and UK — just 56–58% of 18–24s regularly drink coffee, compared to over 80% of older groups.
• Young Americans (18–24) are drinking fewer hot drinks overall, with 38% saying they’re drinking less than a year ago.
• Younger Brits are drinking more, especially 25–34s — 54% say they’re consuming more hot drinks than 12 months ago.
• Supermarkets dominate as the go-to for buying hot drink supplies, used by 62% in the US and 70% in the UK.
• Coffee shops and specialty stores appeal more to younger buyers — 17% of 25–34s in the UK buy from cafés vs 10% average.
  Flavored or specialty drinks are the #1 hot drink trend, cited by 46% of Americans and 45% of UK 25–34s.
• Brand loyalty is fragmented, with no strong correlation to age — 35% of consumers say they’re loyal to trusted brands.
• Sustainability is less of a priority for Gen Z, with just 22% of UK 18–24s naming it a top interest.

US results

Coffee drinking increases with age

Our new survey data shows that coffee consumption increases with age. Just under three fifths (58.5%) of people aged 18-24 regularly consume coffee, compared with the national average of 77%. 

And the percentage of coffee drinkers increases for each subsequent age group:

• 25–34: 77%
• 35–44: 81%
• 45–54: 81%
• 55–64: 81%

Where people buy their hot drinks

The youngest age group – those aged 18-24 – are significantly more likely to consume hot drinks in spaces where they pay for them. A sizable 64% buy their hot drinks at coffee shops, and 43% from a store – this compares with the national average of 47% and 34% respectively. 

People aged 35–44 over-index for getting their hot drinks either from their workplace or through a subscription/direct-to-consumer. Three in 10 (31%) people in this age group get theirs from work (compared to a US average of 23%) and 16% get theirs online (compared to a US average of 9%).

When we asked about where people tend to buy ingredients or equipment to make hot drinks at home, supermarkets and grocery stores came out top by a long way:

• Supermarkets or grocery stores: 62%
• Coffee or tea shops: 11%
• Online marketplaces (e.g. Amazon): 10%
• Department stores or home goods stores: 7%
• Directly from brands online: 3%

Downward trend in young people consuming hot drinks

The 18–24 age group is drinking fewer hot drinks compared to 12 months ago, according to our research. 

Of the overall US population, 23% said they’re drinking fewer hot drinks, compared to a hefty 38% of people aged 18–24. 

Meanwhile the older group aged 35–44 has said they’re drinking more hot drinks. Our data shows that 44% are drinking more than they were a year ago, compared to a US average of 33.5%. 

Brand loyalty and age don’t correlate

You might assume that brand loyalty grows with age, but our data shows that it’s not as straightforward as that. 

While the oldest groups in our research (55+) are more likely to stay loyal to specific brands they trust (43.1% and 48.9% respectively), there’s no clear outlying group among younger Americans.

Just over 35% of the overall population say they’re loyal to specific brands they trust. Here’s how brand loyalty breaks down by age:

• 33% of 18–24s 
• 31% of 25–34s
• 34.5% of 35–44s
• 33% of 45–54s

Buying based on convenience seems to be a key driver for 18–24s – 21% said this is their attitude towards buying hot drinks. Meanwhile a statistically significant 34.5% of 35–44s said they like to try new brands and flavors regularly. 

Specialty flavors are a winner

When asked what innovations or trends in hot drinks Americans would most like to see, flavored or specialty varieties came out top. Nearly half of respondents are interested in this kind of variety in their hot drinks. 

The full list of innovations and the percentage of the population who are interested in them are: 

• Flavored or specialty varieties: 46%
• Ready-to-drink or instant premium options: 37%
• Health-boosting ingredients: 33%
• Sustainable packaging or ethical sourcing: 23%
• Non-caffeinated or functional alternatives: 16%
• Plant-based/dairy-free options: 14%

There’s a specific outlier in the data, where we see that people aged 35-44 are more interested than most in ready-to-drink innovations – 48% noted this, compared to the US average of 37%. 

Meanwhile when we look at the gender split we see that men (28%) are more interested in sustainable packaging than women (18%). 

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UK results

Brits drink more coffee as they get older

Our research into UK hot drink trends shows that coffee popularity increases with age. 

While three quarters of the UK population say they regularly drink coffee, this dips to 56% for people aged 18–24. There’s then a sharp +20 percentage point increase for 25–34-year-olds (the next age group up), 77% of whom regularly drink coffee.

The percentages then slowly increase as you go through the age groups, rising to 83% for people aged 55–64. 

Supermarkets are where it’s at

Brits overwhelmingly buy ingredients and equipment for hot drinks at supermarkets or grocery stores – 70% buy this way. 

We see supermarket shopping fall to 61% for 18–24s and to 59% for 25–34s, signalling some potentially interesting new approaches to shopping among these younger groups. 

An interesting outlier is that people aged 25–34 are more likely to buy ingredients or equipment from a coffee or tea shop – 17% said this, compared to the UK average of 10%. This could be especially useful to coffee shops looking to expand their offering to include more home-brewing products.

Which Brits are consuming more hot drinks?

Overall just under two fifths of Brits (39%) say they’re consuming more hot drinks than they were 12 months ago. There’s a rough age correlation here, with younger people generally saying they’re drinking more, and older people drinking less. 

More specifically, people aged 25-34 are showing the biggest uptick – 54% of this age group say they’re consuming more hot drinks. 

It’s worth noting, however, that although a sizable 46% of 18-24s say they’re drinking more, a significant 31% also say they’re consuming fewer hot drinks. So there are nuances within this age range that are worth exploring if you’re trying to tap into this segment of Gen Z. 

Brand loyalty still matters

Just over a third (35.5%) of Brits say they’re loyal to specific brands they trust when it comes to hot drinks. 

However, it’s worth noting that more than a quarter (26%) like to try new brands and flavors regularly. When you consider that the UK hot drinks market in 2025 is estimated at $14.42 billion, this means that a whopping $3.75 billion is up for grabs to challenger brands.

How much does sustainability matter?

People aged 18–24 don’t seem to care as much as you might think about sustainability when it comes to hot drinks. Just 22% of this youngest group say sustainability and ethical sourcing are one of the top trends they’re interested in – this compares to a UK average of 32%. 

Consumers aged between 25–34 seem to be interested in almost everything. Their responses show statistical significance in how much more interested they are than other groups in:

• Health-boosting ingredients: 51% 
• Ready-to-drink or instant premium options: 48%
• Flavored or specialty varieties: 45%
• Plant-based/dairy-free options: 25%

Indulgence is key to young people

Our research shows that people aged between 18–24 consider hot drinks to be a comforting treat they can indulge in, to a greater extent than other age groups. More than two fifths (41%) of 18-24s said this, compared to the UK average of 31%. 

It stands to reason, based on this, that the youngest group is less likely to consider hot drinks an essential part of their everyday routine. And our data shows this – just 18% said this is the case. This compares to the oldest group (55–64s), almost half of whom (48%) do consider hot drinks to be an everyday ritual. 

Interestingly, a significant percentage of people aged 25–34 consider hot drinks to be part of their wellness/health routine. Nearly a quarter (24.5%) said this, compared to the UK average of 17%. 

Take a deeper dive into the data over on our interactive dashboard. 

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The post Spilling the tea on the $790b hot drinks market in 2025 appeared first on Attest.

From subscriptions and sustainability to seating and social vibes, consumers are redefining what they want from their coffee moments — and brands need to keep up.

That’s why we surveyed nationally representative consumers in the US and UK to uncover what’s driving (and delaying) their visits to coffee shops. Whether you’re a global chain or a challenger brand, these insights reveal the trends worth waking up to.

Take a deeper look at the insights by heading over to our interactive dashboard. 

Quick summary

• Coffee shops are “third spaces” for younger consumers — under-35s are far more likely to read, work, charge devices, and socialise there than older groups.
• Subscriptions are a generational opportunity — over half of Gen Z and Millennials in both markets would consider one, but interest drops off steeply with age.
• Women go for connection, men go for convenience — women are more likely to visit socially; men are more likely to use Wi-Fi or drive-thrus.
• Free refills and a comfortable vibe are key to getting people to linger — especially among younger adults and surprisingly, over-65s in the US.
• Middle-aged consumers (45–64) are the hardest to convince — they under-index on nearly all motivators and are often simply not interested in staying longer.

US results

Younger people seek out third spaces

Our research found that younger people – specifically people under 35 – visit coffee shops for a much wider range of reasons than older groups. 

Some of this is unsurprising – we could have predicted that 55-year-olds aren’t using coffee shops for studying. But other responses are more enlightening.

For example, 12.0% of 18-24s and 18.4% of 25-34s use coffee shops to charge devices or connect to Wi-Fi. This compares with just 6.0% of 45-54s and 9.3% of 55-64s. 

And reading in coffee shops is most popular among 25-34-year-olds – 13.2% do this, compared to 5.0% of 45-54s and 4.9% of 55-64s.

Youngsters prefer apps; women prefer drive-thru

We found that the most popular way to pay at a coffee shop overall was still in-store at the counter – 62.5% of the general population prefer this, way ahead of the second-placed drive-thru, at 32.3%. 

Unsurprisingly we found young people more willing to order ahead and pay through an app. Almost half (44.7%) of 18-24s would pay this way, and a third (36.7%) of 25-34s. This compares with a quarter (25.1%) of 45-54s and 1 in 10 (11.8%) of 55-64s who like to pay that way. 

There’s also a notable difference between men and women when we look at drive-thrus specifically. 37.8% of women would prefer this option, compared to just 26.5% of men.  

Subscriptions appeal to younger shoppers

Gen Zers and Millennials alike would be likely to take out a coffee subscription – 50.3% of 18-24s and 52.3% of 25-34s said this, compared to a national average of 39.0%. 

Meanwhile it’s the reverse when we look at older shoppers. Three in 10 (30.6%) 45-54s and 1 in 5 (21.2%) of 55-64s would be likely, with 45.2% and 51.6% respectively saying they’re unlikely to take out a subscription. 

There’s also an untapped 23.0% of the US population who are neutral on coffee subscriptions – surely a massive potential market, if they can be persuaded to commit to a subscription. 

How to get people to spend more time in coffee shops

With Starbucks recently taking steps to encourage customers to spend more time in their branches, what would actually make people want to do that? 

The answer is a mixed bag, depending again on age. 

Shoppers aged between 18 and 24 specifically want to see more comfortable seating and atmosphere, and a quiet space to work or read. Meanwhile people between 45 and 64 aren’t committing to any specific strategy – in fact they under-index for all options EXCEPT that they’re not interested in spending more time in coffee shops. 

There’s also an anomalous group of over 65s who would be compelled by free refills and dine-in perks (59.6% compared to national average of 35.0%), and by comfortable seating and atmosphere (52.6% vs. 30.8%) – though this group’s sample size was smaller, so more research needed into this. 

What US shoppers want to see more of in coffee shops

Here’s what US consumers told us they’d like to see more of in their local coffee shops:

UK results

Coffee shops: social space for women; free Wi-Fi for men

We found that among UK shoppers, there are some differences in the main reasons people visit coffee shops. 

One interesting result is that more than half of women (50.3%) visit coffee shops to meet friends and family, compared to just 37.2% of men. However men are significantly more likely than women to use coffee shops to log onto Wi-Fi or charge devices (14.4% of men vs. 7.3% of women). 

Looking at age-group breakdowns, we see that there are generally more varied reasons young people visit coffee shops, when compared to older groups.

Loyalty gets lost with age

With more and more coffee shops and outlets offering subscriptions, we asked how likely people would be to pay for a monthly subscription for their preferred coffee shop. 

And basically, young people would; older people wouldn’t. 

We found that people under 35 are likely to pay for a coffee subscription (58.0% of 18-24s and 64.8% of 25-34s), while just 26.9% of 45-54s and 16.5% of 55-64s would be likely. 

Digging into the reasons those folks wouldn’t pay for a coffee subscription, we found that the top reasons are:

• I prefer to pay as I go – 51.5%
• I don’t want to be locked into a monthly fee – 43.8%
• I don’t visit coffee shops often enough – 41.6%
• I don’t drink enough coffee to make it worthwhile – 37.5%
• I don’t think it’s good value for money – 21.9%

How to get people into coffee shops

Following Starbucks’ new approach to getting people into their shops, we wanted to find out what might make UK shoppers want to spend more time in coffee shops. 

Overall, free refills or dine-in perks are the one thing that stands out as a way to entice people – 26.6% of UK consumers would be tempted by this. 

And 25-34-year-olds could be an untapped segment for coffee shops. They’re the only age group that over indexes for any strategies – free refills/dine-in perks, and music and a social vibe are what would bring them over the threshold. And at the other end of the age spectrum, people between 45-64 under-index across all responses, except that they’re actively not interested in spending more time in coffee shops. 

What would Brits like to see more of in coffee shops?

We asked our UK respondents what hot drinks they wish coffee shops offered more of. Here’s the summary of their responses:

Take a deeper look at the insights by heading over to our interactive dashboard. 

Get more 2025 consumer trends

Get a complete picture of consumer spending health right now – from disposable income and purchase intent, to debt, savings, and credit usage.

Download now!

The post Beyond the beans: what today’s coffee drinkers really want appeared first on Attest.

In recent months, President Trump’s new and proposed tariffs on foreign imports have reignited public debate and shook financial markets with concerns swirling around rising prices, disrupted supply chains, and broader economic uncertainty. While economists and policymakers continue to debate the long-term impacts, we wanted to understand how average Americans are actually feeling.

To get a clearer picture, we surveyed 1,000 U.S. working age adults to gauge their awareness, concerns, and expectations around tariffs. 

The results reveal a public that is paying attention—and increasingly wary of how trade decisions might show up in their grocery carts, utility bills, and personal budgets. 

Quick summary

• High awareness: 75.5% of U.S. working-age adults are familiar with recent tariff policies, with men showing higher awareness than women.
• Strong concern about prices: Over 90% are concerned tariffs will lead to price increases, particularly on everyday items like groceries and clothing.
• Personal financial worry: 53.9% expect tariffs to negatively impact their finances, while only 20.3% anticipate a benefit.
• Noticed real-world effects: 34.9% have already observed price increases they attribute to tariffs, especially in food, energy, and healthcare.
• Income-driven responses: Lower-income individuals are more likely to substitute, delay, or stop purchases in response to price hikes, while higher-income groups are more likely to stock up.
• Shifting consumer behavior: Nearly half (50.1%) are switching to cheaper or local brands, and many are delaying big purchases or buying second-hand.

Tariff awareness: informed and engaged

When asked about their familiarity with recently proposed and implemented tariffs on foreign imports, the majority of respondents, 3 in 4 (75.5%) said they were somewhat or very familiar. Only a little more than 5% (6.6%) admitted to not being familiar at all. Gender differences emerge with men stating a significantly higher level of understanding in comparison to women.

While tariffs are making headlines, they’re effectively increasing awareness as consumers are paying closer attention to economic policy, likely because they sense real-world consequences.

Consumers are concerned about price hikes

The most immediate concern linked to tariffs is their impact on consumer prices. Here, perceptions are crystal clear: more than 1 in 4 (28.0%) of respondents said they are “extremely concerned” that tariffs will drive up prices on everyday goods like groceries, clothing, and electronics, with another 24.9% saying they are “very concerned”. In total, over 90% of the sample expressed some level of worry.

This shows a strong intuitive link in the public’s mind between tariffs and higher costs—an association that economists would agree with, particularly for tariffs imposed on consumer goods.

Personal financial impact: a mixed bag

When asked how tariffs might affect their own finances, responses varied:

• 53.9% expected a negative impact
  
• 20.3% anticipated a positive impact
  
• Only 9.3% believed tariffs would have no impact at all
  

The fact that 53.9% of survey respondents expect a negative impact on their personal financial situation suggests a significant level of concern among consumers about how tariffs will directly affect their wallets. This means that more than half of the people surveyed believe tariffs won’t just impact prices on a macro level—they’re bracing for noticeable changes in their own household expenses.

A broader economic signal

Over a third of respondents—34.9% to be exact—said they’ve definitely noticed price increases they believe are linked to trade policies or tariffs. This signals that, for many consumers, the impact of global economic decisions isn’t just theoretical—it’s already showing up in their day-to-day spending. 

Concern for specific product categories is split across the board with major necessities leading the pack:

• 68.2% are worried about prices of food and groceries becoming more expensive
• 46.8% are concerned about gasoline and energy costs
• 40.2% are worried about healthcare or prescription drugs costs

Unsurprisingly, these concerns shift depending on income levels. Those who are making less than $50k in household income are significantly more likely to be worried about these three categories (food, gasoline, and healthcare) than those making $100k or more per year.

How are consumers reacting?

When asked how they would respond to a 15% price hike on a product due to tariffs, consumer behavior varied notably by income level. 

Overall, the most common response was to look for a cheaper alternative or substitute (40.8%), a strategy especially popular among lower-income respondents—45.5% of those earning under $50k said they’d opt for this route, compared to just 32% of those earning over $100k. 

Meanwhile, 35.4% of higher-income consumers said they would buy extra now to avoid the price hike, a move that requires more disposable income—only 21.8% of lower earners said the same. Notably, people in the under $50k group were also more likely to stop buying the product altogether (9.1% vs. 2.7%). 

This data highlights how lower-income households are more likely to adjust or sacrifice consumption when faced with cost increases, whereas higher-income consumers are more inclined to use their purchasing power to stock up or absorb the price hike.

In response to potential price increases from recently proposed and implemented tariffs, nearly half (50.1%) of respondents reported switching to cheaper or local brands, with a significantly higher percentage among women (54.8%) than men (45.2%). Delaying large purchases (39.7%) and stocking up on goods (35.6%) were also common strategies. 

Additionally, 26.5% of individuals are turning to second-hand or resale items, with women again showing a significantly higher tendency (29.7%) compared to men (23.1%). Only a small portion reported taking no action (7.5%) or pursuing other strategies (3.1%).

Conclusion

This survey shows that tariffs are not just a tool in policymakers’ arsenals—they’re a real and felt presence in the lives of ordinary Americans. Most people are aware of tariffs, worry about their impact on prices, and believe they could touch their own wallets. 

Whether or not these perceptions align perfectly with the facts, one thing is clear: economic policy doesn’t exist in a vacuum—it lives in grocery store aisles, on utility bills, and in the minds of the public.

And don’t forget—you can dig into the data as much as you like on our interactive dashboard.

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We surveyed 2,000 US and UK consumers about their vacation plans for 2025. Check out the dashboard for yourself to dig into the data. 

Quick summary

• Holiday intent remains strong: 67% of Americans and 84% of Brits plan to take a vacation in 2025.
• Budgets matter: 44% of Americans and 39% of Brits are planning more budget-friendly trips due to the current economic climate.
• Home or away? Domestic travel dominates in the US, especially among older adults, while Brits are more likely to travel internationally.
• Flight fears linger: Nearly half (46%) of Americans are more hesitant to fly after recent air travel incidents.
• DIY planning rules: Most consumers lead their own holiday research, but younger groups rely more on social media and recommendations.
• Extras aren’t a big sell: A quarter of Brits are unwilling to pay for holiday add-ons—only seat selection, in-flight food, and roaming charges see notable uptake.

US Results

Two thirds of Americans are taking a vacation in 2025

The majority of Americans will be taking a vacation in 2025 – 67.3% are likely or very likely to do so. A fifth (19.4%)  said they’re unlikely, with the remaining 13.3% unsure. 

It seems men are more keen for a getaway this year, with 71.1% saying they’re likely to take a trip, compared to just 63.7% of women. 

We also see the likelihood of a vacation this year decreasing as you make your way up the age groups:

• 18-24 year olds – 72.3% are likely
• 25-34 year olds – 69.4%
• 35-44 year olds – 68.7%
• 45-54 year olds – 68.0%
• 66-64 year olds – 61.8%

Budget-friendly trips are a priority

When asked how the current economic climate has influenced their vacation plans, a sizable 44.2% say it’s making them plan more budget-friendly trips, while 29.0% say it’s had no impact. 

A significant 23.3% say they’re opting for fewer vacations as a result of the economic climate. Meanwhile, there’s an anomalous 3.5% who are planning more luxurious trips.

Domestic trips are top of the list for Americans, with nearly half (48.3%) saying this is what they’re planning. Vacation type is something that differs across generations, with younger people preferring international travel to domestic:

• 18-24 year olds – 34.6% staying in the US; 22.8% traveling internationally
• 55-64 year olds – 61.0% staying in the US; 10.6% traveling internationally

Women are also less likely to travel internationally – 10.2% plan to globetrot, compared to 19.2% of men. 

Recent incidents make half of Americans hesitant to fly

Our research shows that almost half (46.0%) of Americans are more hesitant to fly following several recent air travel incidents. We found that this is fairly consistent across age groups, but that there’s an 11 point difference between men and women – 40.3% of men are more hesitant, compared to 51.7% of women.

But a chunky 43.6% overall say recent incidents haven’t affected their decision to fly, with a further 10.0% being unaware of any incidents at all. 

People prioritize their own research 

Most consumers in the US make their vacation choices based on their own research. Our survey shows that 65.2% do their own research to plan their getaway. We see that this increases as you go through the age ranges – 56.6% of 18-24 year olds do their own research, compared to a chunky 71.6% of 55-64 year olds and 81.0% of over 65s. 

Here’s the full list of what influences Americans’ vacation planning decisions:

• My own research – 65.2%
• Recommendations from friends and family – 44.7%
• Social media – 29.1%
• Online travel agencies – 24.1%
• Travel blogs and websites – 18.6%

Young travellers – those between 18 and 24 – are more likely to plan vacations using inspo from family and friends and social media. More than half (51.0%) turn to people they know for pointers, and 45.7% use social media. 

Where are Americans heading on vacation in 2025? 

Here are the top destinations our US respondents say they’re traveling to this year:

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UK results

85% of Brits are taking a holiday in 2025

A whopping 84.1% of Brits are planning to take a holiday in what’s left of 2025 – way up on the 67.3% of Americans we reported earlier.

And it looks like it’s 25-34 year olds whose holidays are most impacted by the current economic climate. More than half (51.0%) in this age group say they’re planning more budget-friendly trips, compared to the UK average of 39.4%. 

International travel tops the list of holiday types for Brits. Just over two fifths (41.1%) are planning a foreign holiday, while 26.2% are staying in the UK for theirs, and 28.2% are planning a combination of both.

Different generations get holiday inspo from different places

The youngest group in our research – 18-24 year olds – are the least likely to do their own research into where they travel. Just 45.0% chose this, compared to the national average of 68.6%. But perhaps predictably, they are considerably more likely than the average to use social media for inspiration – 37.2% chose this, compared to the UK average of 23.8%. 

Working up through the age groups, Gen Zennialls aged between 25 and 34 are significantly more likely than the average to base their holiday choices on online travel agencies (38.5%), social media (41.0%) and travel blogs (30.2%).

Meanwhile people aged between 55 and 64 massively over-index for doing their own holiday research – 84.7% do this (compared to the national average of 68.6%). And this age group is significantly less likely than all other groups to get their holiday inspiration from any of the other resources we suggested.  

Which age groups are most likely to pay for holiday extras?

Brits between the ages of 25 and 34 are most likely to fork out for extras during their holiday. They’re significantly more likely to specifically pay for in-flight meals/snacks, carry-on luggage fees and resort fees. 

The 55-64 age group are least likely to pay extra. They under-index for in-flight food, carry-on luggage fees and resort fees compared with the national average. 

But overall, people don’t particularly love the idea of paying for any holiday extras, perhaps highlighting an opportunity for travel brands to begin repackaging deals as a point of difference. 

Here’s the breakdown of what Brits are willing to pay extra for: 

• Seat selection to sit with companions – 25.8%
• In-flight food – 24.5%
• None – 24.5%
• Mobile roaming charges – 24.4%
• Extra legroom – 23.7%
• Checked baggage – 21.5%
• Carry-on luggage – 20.6%
• Resort fees – 20.0%
• Priority boarding – 14.7%

Where are Brits heading on holiday this year?

Here are the top destinations our UK respondents say they’re traveling to this year:

Get more 2025 UK consumer trends

How are UK consumers feeling about spending in 2025? What are they buying – and what are they NOT buying? Get the lowdown in our consumer trends report.

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We analyzed a recent Attest survey of 1,000 working-age Americans to uncover key insights.

Quick summary

• Most Americans expect tax refunds under $3,000, but some anticipate over $5,000.
• 34% plan to use refunds to pay off debt, while 40.3% intend to save or invest.
• Nearly 25% of consumers, especially Millennials, plan to buy cryptocurrency.
• Almost 70% are saving due to economic uncertainty, while those with improved finances are more likely to spend.
• Lowering individual tax rates is the most popular tax policy change, followed by taxing corporations and simplifying filing.
• Refund spending patterns reflect a mix of financial caution, debt management, and selective discretionary spending.

Tax return expectations 

The survey results indicate a wide range of expectations when it comes to tax refunds:

• 23.6% of respondents expect less than $500.
• 16.9% anticipate receiving between $500 and $1,000.
• 20% expect a refund between $1,000 and $3,000.
• 9.3% foresee a return of $3,000 to $5,000.
• 7.8% anticipate receiving more than $5,000.

These figures suggest that while a significant portion of Americans expect modest refunds, a substantial number anticipate larger sums, making tax season a critical financial moment for many households.

How will Americans spend their refunds? 

Understanding where this money will go can shed light on broader economic trends. According to our survey:

• 34% plan to pay off credit card debt or other loans, highlighting concerns about personal debt levels.
• 40.3% of respondents intend to save or invest their refunds, indicating a cautious approach in an uncertain economy.
• Some plan to use their refunds for day-to-day expenses, suggesting financial strain.
• On the flip side, over a third of Americans are looking at discretionary spending, including travel or major purchases, reflecting some confidence in personal finances.

What this says about economic sentiment 

The fact that over one third of respondents are prioritizing debt repayment points to lingering financial stress, possibly from high interest rates and inflation. The emphasis on saving suggests many are bracing for economic uncertainty. However, those who are spending on non-essentials signal that not everyone is feeling the financial squeeze.

The foray into crypto

Of those that are saving or investing their tax returns, we see the majority of respondents deciding to invest either in their retirement accounts (40.8%) or the stock market (36%). Surprisingly to some, investments in cryptocurrency rounds out the list, with almost a quarter of respondents opting to purchase crypto.

The differences in generational investing become more apparent in this crosstab, where we see that Millennials are significantly more likely to invest in cryptocurrency when compared to the total.

Americans’ economic outlook in 2025

We see an almost even split of respondents who have had either a positive change, a negative change, or no change to their financial situation in the last year. This split seems to be a main driver on how that outlook is influencing spending.

Those whose financial situation has improved are overindexing on spending their tax returns, while those whose situation has gotten worse are more likely to save their return this  year. All in all, almost 70% of respondents are planning to save their returns due to the outlook on the economy.

One question revealed strong support for tax-related policy changes, with lowering individual income tax rates (42.4%) emerging as the most favored option, particularly among Boomers (49.4%) and Gen Z (45.1%). Increasing taxes on corporations and high-income earners (33.0%) was the second most popular choice, with Boomers (36.9%) showing the highest support. 

Simplifying the tax filing process (26.8%) was another priority across all generations. Notably, Millennials (29.1%) showed the strongest support for expanding tax credits, while Boomers (10.6%) were least in favor. These findings highlight generational divides in tax policy preferences, with younger generations favoring broader financial support and older groups prioritizing tax reductions.

Overall, the 2025 tax season appears to be a mix of financial caution and necessity, with only a portion of Americans feeling comfortable enough to spend freely. This aligns with broader economic concerns about inflation, rising costs, and potential financial instability. 

Tax refunds provide a valuable snapshot of consumer behavior and economic sentiment. This year’s data suggests that while some Americans are using their refunds to get ahead financially, others remain cautious, prioritizing savings and debt repayment over discretionary spending.

As we move further into 2025, these spending patterns will likely reflect the ongoing economic climate and shape financial behaviors throughout the year.

Get more 2025 consumer trends

How has Trump’s return to power affected consumer confidence? Learn the trends shaping buying behavior in 2025.

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But gathering these insights takes expertise and resources. With so many US market research firms out there all promising the right answers, finding the right fit feels overwhelming.

We compiled a list of the top market research companies in the US for 2025 — highlighted by their specializations and key use cases so you can find the perfect partner for your business. Let’s get right into it. 

17 market research firms to better understand your US audience

Looking for the top market research companies? This list features 17 firms and platforms that specialize in gathering insights, tracking trends and understanding US consumers. Whether you need brand tracking, customer segmentation or product testing, these companies offer research solutions to support your business decisions.

Let’s take a look at your best options.

1. Attest

TL;DR: Attest is an enterprise-grade consumer research platform that gives businesses access to 150+ million respondents across 59 countries, and delivers fast, high-quality insights at scale.

📍Location: New York, United States, and London, United Kingdom (serving global markets)

✨ Specialties: Attest is one of the top market research companies serving the US market. This consumer research platform makes market research fast, simple and actionable for businesses of all sizes. 

Attest’s platform helps you test ideas, validate marketing strategies and track your brand performance in real time. 

Unlike traditional research providers, Attest gives you on-demand access to a diverse global consumer audience and delivers fast, reliable insights for any research need — including branding, consumer profiling and market analysis. Attest is best suited for consumer-focused research – businesses that need B2B research may find other providers more aligned with their needs.

The platform features an intuitive dashboard that transforms raw data into clear, visual stories that make it easy to spot trends and compare insights over time. You can also set up recurring surveys to track changes in consumer sentiment or test different audience segments. 

If you’re looking for an expert eye, Attest’s Customer Research Team is always available to provide expert advice to ensure you get the most out of your research. With Attest you also don’t pay extra for additional platform seats. And you pay a flat rate across all consumer audiences, so your research costs are predictable.

✔️ Top use cases:

• Market analysis: Identify new market opportunities and emerging consumer trends.
• Brand tracking: Monitor brand health and perception over time.
• Creative testing: Evaluate the impact of ads, messaging and creative assets.
• Consumer profiling: Gain deep insights into customer behavior and demographics.
• New product development: Test product ideas and marketing messages with target audiences.

Smart research with predictable costs

Attest delivers quality insights quickly, so you can make informed decisions now. And you pay a flat rate for all consumer audiences – keeping your costs simple.

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2. Bixa

TL;DR: Bixa is a market research studio that helps brands build authentic connections with their customers. 

📍Location: Alexandria, Virginia

✨ Specialties: Bixa helps brands understand what makes their customers tick. They go beyond basic demographics to explore the underlying reasons behind consumer behavior, by looking at things like values, attitudes and motivations. 

Using a mix of research methods, they offer a complete picture of the target audience so brands can make informed decisions.

✔️ Top use cases:

• UX and product research 
• Emerging trend reports 
• Ongoing brand health tracking

4. Remesh

TL;DR: Remesh is an AI-powered insights platform that enables live, large-scale conversations with audiences and delivers real-time qualitative research at a quantitative scale.

📍Location: New York City, New York

✨ Specialties: Remesh is one of the top market research firms in New York City. They specialize in AI-driven research. Their platform helps businesses to engage hundreds of participants simultaneously while leveraging AI to analyze responses in real time. 

These online focus groups actively review and rank each other’s answers, to surface the most relevant insights. The platform is used to obtain strategic insights across industries like retail, finance and technology.

✔️ Top use cases:

• Real-time market research 
• Employee research and feedback
• AI-powered sentiment analysis

5. Appinio

TL;DR: Appinio is a survey platform that helps businesses collect fast consumer insights.

📍 Location: Hamburg, Germany

✨ Specialties: Appinio stands out for its ability to provide survey results in minutes. 

Their platform offers a range of solutions, including brand tracking, target group analysis, and visual testing. Notably, Appinio offers specialized solutions for pricing strategy development and enhancing shopper experience.

Their pricing strategy solution helps businesses find the optimal price point by understanding customer willingness to pay and market dynamics. The shopper experience solution focuses on decoding customer motivations and fine-tuning strategies to improve satisfaction and loyalty.

✔️ Top use cases:

• Pricing strategy development
• Shopper experience enhancement
• Brand tracking

Looking for market research agencies in specific cities? Check out our regional guides:

• Top market research companies in Boston
• Top market research companies in Chicago 
• Top market research companies in Dallas 
• Top market research companies in Houston 
• Top market research companies in Los Angeles
• Top market research companies in New York 
• Top market research companies in San Diego 

Interested in agencies beyond the US? Check out guides for:

• Top market research agencies in London
• Top market research agencies in the UK
• Top international market research companies

Unlock smarter growth with consumer insights

Get real-time access to 150M+ consumers and uncover insights fast. Test ideas, refine strategies and track brand performance — all in one easy-to-use platform.

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The post Top 17 market research companies in the US (2025)  appeared first on Attest.

Conducting an in-depth market segmentation or sizing study can cost a lot of money and often requires research expertise. Here’s how to get a solid steer on your potential market size without saying goodbye to your (entire!) marketing budget. Hint: we can help!

TL;DR: how to quickly calculate market size potential

Market size helps you estimate potential revenue and gauge if your product is worth launching or scaling.

Quick market size calculation formula

And here’s the quick formula for calculating market size and value:

• Total potential customers x Average revenue per customer = Market size

3 steps to calculate market size

• Step 1: Define your audience and total addressable market (TAM)
• Step 2: Gather wider market size intel
• Step 3: Use the market size calculation formula

Why it matters

• Investors expect clear market size in your pitch deck
• Helps forecast revenue, prioritize segments, and evaluate growth potential
• Useful even if you’re not seeking funding

The takeaway
Market sizing gives you clarity and credibility. Use it to make smarter business decisions – and to prove the potential of your idea.

What is market size?

Market size is the number of individuals in a certain market who are potential customers of your product or service. Depending on your distribution strategy, you’ll probably also want to look at the number of potential sellers of your product or service. 

When measuring market size there are two ways to approach it: top down and bottom up. 

Let’s look at each:

Top-down market sizing

The top down market sizing approach focuses on seeing what the current market is like and applying what you find to your business.

For example, let’s say you sell your services to creative agencies and there are 100 creative agencies across the UK, however you currently only sell to eight of these agencies.

You can calculate that your average sale among the eight creative agencies that you work with is £5,000. This would mean that your top down market size is £500,000.

However, this number is likely unrealistic and it won’t really tell you much. After all, not all the agencies will decide to work with you, nor will you sustain the same selling average.

Bottom-up market sizing

For the bottom up approach you look at your own segment data, and then you look at secondary research to understand what’s expected to happen to those segments.

Although the bottom up approach can be more time consuming and will require you to better study and analyse your market, at the end it results in a more realistic and trustworthy number.

For example, let’s say 60% of your marketing agency business goes to big corporations, and 40% goes to small and medium-sized companies.

Your secondary market research might say that big corporations are relying less on agency work because they’re hiring in-house teams. And if you also know there’s an increase in the number of new startups entering your market, then you can act accordingly and focus on providing better solutions to SMBs.

These two ways to calculate market size help you understand the size of the opportunity in any given market. That said, it’s also important to consider other factors such as the indirect competition. 

Find out how big your market really is

Calculate your market size, its pain points, attitudes and price sensitivity with quality consumer insights from Attest.

Calculate market size

Let’s understand why market size is important.

Why should you calculate market size?

If you create a business plan that doesn’t cover market size, you’re likely to be sent packing by any potential investor.

Without market size data you can’t create a viable business plan, it’s the only thing that gives you an idea of the potential value of your product or service. Market size is essential even if you’re not seeking third-party funding.

Let’s say you have the patent to a revolutionary new software tool; it’s easy to assume everyone will want it.

So you might say: “my market is all American adults,” but this is naive and not backed with evidence. You’ll never sell your product to all American adults, no matter how great the product is! 

There will be a certain type of person who really does want to buy your tool and your job is to nail down who that person is—and then work out how many of those individuals like them there are in the market.

This might sound difficult, but thanks to the wealth of data tools available nowadays, it’s easier than you think.

How to use your market size calculation

Before we cover how to calculate your market size, it’s important to know how you’ll be able to use this number.

Market size helps business owners answer the following questions: 

• What’s the potential revenue from this particular market?
• Is the market big enough? Will it be worth it to invest time and money in? 
• Is this a growing market? Will there be opportunities after three, five, or ten years?

These are key questions when trying to start or maintain any business. Now, without further ado, let’s take a look at how to calculate market size.

How to calculate market size

Calculating your market size shouldn’t be complicated. In fact, it can be done in three simple steps:

Step 1: Define your target audience and Total Addressable Market (TAM)

Your target customers are the people for whom your product or service solves a specific problem.

Identifying who these people are is a lot easier if you’re already active in one market.

There are three ways to group your target audience’s market: TAM, SAM, and SOM – worry not, we’ll go through what each of these mean.

Total addressable market (TAM)

TAM is the total demand there is for a product like yours.

If you’re creating an energy drink, your TAM will be estimating everyone that might consume your product: students, drivers, athletes, the lot.

Serviceable available market (SAM)

SAM is the people in the TAM that could feasibly reach your product.

Let’s say you’ll only sell it at a specific supermarket that’s only available in the southern cities of England, those within your TAM that are also in the southern cities of England will be your SAM.

Serviceable obtainable market (SOM)

SOM is the smallest subset of the available market that you’ll want to capture through your marketing and sales efforts.

These are those customers that are in your SAM, but are currently not being served, or are unhappy with the existing market offerings, or those that would actually be willing to try a new version of the product they already use.

Using existing data

Examine the profiles of your existing customers – what do you know about them?

In addition to looking at demographic information like age, gender, geographical location and socio-economic background, engage in a conversation with your customers to find out why they buy your product and why they buy your brand specifically.

Using new data

If you’re starting from scratch with a new product or service, you’ll need to come up with some hypotheses to test. 

For example, let’s say you’ve invented a wearable device that automatically tracks how many calories you’ve consumed. You can probably assume it will be of interest to men and women trying to live a healthier lifestyle, as well as sportspeople who need control over their diets and workout routine.

There could be further demand from employers or health insurance providers who want to incentivise people to maintain a healthy diet.   

You can gather initial data from a bit of desk research – for example, this government-published statistic tells us that 64% of adults in the UK are overweight.

But don’t stop there, now’s the time to delve a bit further by carrying out some consumer research.

Through a market research and brand tracking tool like Attest, you can access more 150+ million people in 59 countries, which means you can test real demand with a subset of your target audience.

For example, you could find out:

• How many people are actively trying to live a healthier lifestyle? 
• Why is a healthier lifestyle important to them?
• What are their pain points when trying to do this?
• What products do they currently use to help them improve their health?
• Would they be interested in your product?
• How likely would they be to buy it?
• How much would they be willing to spend if they are interested?

To further define your target customer, you can then analyse their demographics (these are built-in to the Attest platform) and look for trends.

Perhaps you see that professional women, living in London and the south east, aged between 30 to 50 are showing the highest purchase intent. You can then create profiles of your prime potential customers.

Once you’ve got a good indication of who your product or service is relevant to, a larger market segmentation exercise makes sense. It’ll help you prioritise your efforts and understand the true potential size of the market. 

Step 2: Gather wider market size intel

To get the full picture, you’ll want to enhance your findings by gathering further information on your industry. 

Most industries have formal associations which compile and track industry size data.

You can find out, for example, how much the industry is worth, how much is spent annually on specific product types and average retail prices. 

It’s worth spending some time working out which industry your product or service actually sits in. Knowing your industry helps you understand who your competition is.

To get more clarity on who your competitors are, try drawing up a market map. Market mapping involves arranging competing products on an axis according to their positioning.

For example, whether they are high or low-cost or whether they are complex or basic (see the below example.) 

In an ideal world, market mapping will highlight that your product falls into a unique niche.

For example, your product could be the highest quality product being offered at a low price point.

This immediately gives you a point of difference, giving investors a compelling reason to believe you’ll be able to steal market share.

Use consumer research

You can use your consumer research to back up your market positioning, like social enterprise Divine Chocolate did.

The chocolate bar maker identified that some consumers were prepared to pay a premium price for very high-quality chocolate made from Fairtrade cocoa. It saw that there was little competition in this space and successfully claimed the position. 

If you do find a gap in the market, it’s important to be sure why others aren’t filling it.

It may be that the demand from consumers just isn’t there, so be sure to combine your study of the market with actual feedback from consumers.

Discover the potential value of your product or service

Get the market size data you need to carry out your marketing strategies with confidence.

Find out your market size

Run brand perception research

Brand perception is about what your consumers think and feel about your brand.

Not just as an opinion, but as a deeper subconscious sentiment that they have developed after interacting with your brand, your products, your international marketing and messaging, and yes, even your competition.

Brand perception is not what you want customers to feel towards your brand.

It’s about what the customers believe you stand for. Ideally, these two would be the same, but in reality it’s hard to influence your customers so directly; that’s why you need to research your brand perception – and also that of your competitors.

Brand perception can affect the type of customers you attract, your price point, and the partnerships you can build with other brands. So, make sure you measure your brand’s reputation and perception.

Use market research surveys

The best way to gather market-wide information is through market research surveys using market research services.

These tools will help you collect important information from various demographics, and types of customers.

Market research used to be done face-to-face or through lengthy, cumbersome calls.

Today  you can have great insights, data ready for reporting, and a global reach with online market research surveys. They help you take the guesswork out of market research while keeping your process scalable and inclusive.

Once you’ve narrowed down your target market size and customers, and you’ve studied the market at length, you’re ready to calculate market size.

Step 3: Use the market size calculation formula

Here’s that quick formula again:

• Total potential customers x Average revenue per customer = Market size

Your market research will give you a lot of information that you’ll need to analyse and understand. Let’s look at how to plug this information in a formula for estimating market size.

For example, let’s say you produce chocolate. You plan to be stocked in independent food stores. But you find there are few of these types of outlets in the Midlands – a location where you see high purchase intent.

This will affect these consumers’ ability to buy and will reduce your potential sales. 

You have to take factors like this into consideration and look at the ‘available market.’ The available market is those who have both interest and the ability to buy – this is your number of target customers.

Once you have this figure, you need to multiply it by the quantity of your product an average buyer will purchase in a given time period, like a year.

In the case of our fictional calorie counting device, this is likely to be a one-off purchase, but if it’s a consumable you’re selling, purchase frequency will be far higher.

Use your industry data and consumer brand research to estimate this figure – and be realistic!

How to project your market size

Market size is the maximum total number of sales or customers your business can see, often measured over the course of a specific period of time – often a year.

Knowing what your potential market size is will help you when gauging your next business steps, whether or not an investment in a new product is worth it, or what growth is to be expected.

The next step in calculating market size is to engage in a bit of future-gazing. Is your market likely to grow or shrink in the future?

You can look at historical data to analyse the market’s performance – is it on an upward trajectory?

Now, think about your customer base — is that likely to get bigger? If we go back to the example of the calorie tracker, there’s plenty of available data to show that the overweight population is growing.

Will there be more prospective customers in your market in the next few years? If you can show your marketplace isn’t static and is instead evolving, there’s greater reason to believe in a successful future for your product.

When presenting market size and market value statistics for your business, try to make one, two and three-year projections.

Don’t forget to factor in your anticipated roll-out to other geographic areas over time or improved distribution plan. 

You also need to consider your own impact on the industry. What’s your disruptive potential? Most startups are coming to market with an innovative product or service and this can dramatically change the landscape.

Think of the way digital cameras virtually destroyed the market for film cameras – and film developing – or the effect Amazon’s Kindle had on regular bookstores.

On the other hand, are there other companies’ products or services on the horizon that threaten the industry as you know it?

Do as much research as possible by looking at patents being filed, reading industry media and setting up Google alerts for relevant keywords to keep abreast of things in development. 

How to calculate market size: an example

Let’s say your product is a face wash for people with acne – you can reasonably expect people to get through one tube of it per month.

If there are 500,000 target customers in your market, this means the total volume of market demand for acne face wash is 500,000 x 12 (months a year) = 6 million a year. If the average price of acne face wash is £10 a tube, then market value is 6 million x £10 = £60 million.

Another calculation you can do is estimating the percentage of market share you will be able to command.

For example, if you know the face wash and cleanser industry as a whole is worth £1 billion annually, you can realistically expect to capture between 1% to 5%. In terms of value, that equates to between £10 million and £50 million.

Summing up your market sizing exercise

Now you’ve learned how to determine market potential (Total potential customers x Average revenue per customer = Market size).

Now, you can add this information into your pitch deck so potential investors can see what the estimated earnings can be. 

Bear in mind that most VCs and angel investors would like to know they’re investing in a market with a large potential size (typically, at least £1 billion).

If your numbers are smaller than this, don’t be tempted to over-inflate them. Be honest and explain why you believe in the market’s potential… or why it’s important to bring your product to market. For example, it’s going to make the world a better place. 

Investors’ investment philosophies differ, so there’s every chance you can find your match with the right research in hand.

Understand your market size to ensure success

Make smart decisions for your brand with Attest’s combination of cutting-edge tech, human research expertise and a quality global audience of 150+ million in 59 countries.

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Market Size FAQ

The post How to calculate market size potential in 3 easy steps appeared first on Attest.

Brands often look at the market from their own perspective, seeing uncharted territory as a chance for first-mover advantage, without figuring out if there’s a real demand. This approach can lead to unnecessary products that fail to meet consumer needs.

Identifying gaps in the market should always focus on the consumer’s perspective. Understanding what your target customers genuinely need, rather than just aiming to be first, ensures you create a viable business that meets real market demands.

Here we’ll explore how to find a market gap that’s worth filling. From analyzing industry trends to decoding consumer behavior, we’ll show you how to develop a brand-new product that taps into the unmet needs of your customers.

TL;DR: how to find gaps in your market

1. Conduct a complete competitor analysis
2. Analyze your own business and consumer feedback
3. Tune into consumer trends
4. Get feedback from your target audience
5. Monitor consumer sentiment on social media
6. Keep track of industry laws and compliance
7. Consider international market expansion
8. Attend industry events and webinars
9. Validate your ideas through research & concept testing

How to identify market gaps

Let’s talk about market spotting before we jump in. If you want to identify opportunities for your business and fill a potential gap in the market, there are a couple of things to keep in mind.

First of all: why is there a gap in the market in the first place? If it were worth it to tap into it, why is nobody taking advantage of it yet?

This question isn’t an answer in itself: sometimes other businesses may have spotted the gap, but simply lack the resources to stay ahead.

Second of all: is filling this gap in line with something your business is already good at? Aka: do you need to make any major changes to jump into this new market, and is that viable – and worth it?

Once you’ve looked at these two elements, you can start taking a closer look at the gap in the market you’re interested in.

Find the next big gap in your market

Discover what your target customers are searching for, so you can capitalize on that market gap – here are the top market analysis tools for B2C brands

Find your market gap

Here are some important steps to follow.

1. Conduct a complete competitor analysis

Start by analyzing your competitors’ strategies and their business models. Identify their strengths, weaknesses, opportunities, and threats (SWOT). Look for what they’re missing to give you the competitive edge.

A SWOT analysis can reveal gaps in their product offerings or areas where customer satisfaction is low, which helps identify opportunities for you. This competitive analysis is essential in spotting market gaps where new features could provide a unique advantage.

Just make sure it’s always based on real user needs, not simply on the capabilities of the market. Just because you and your competitors can, doesn’t mean you should jump on those new ideas.

If you want to hit the ground running, start with our market analysis template and make it your own.

• Include imagery: how to do SWOT analysis of competitors (e.g. https://images.app.goo.gl/uySayBsAZ3ZvMn1j7)

2. Analyze your own business and consumer feedback

The gap is not always in the market itself. Sometimes, it’s in your business. Using a thorough market analysis and self assessment on your business performance, you can gather consumer feedback on existing products and your service as a whole.

Because finding business gaps often starts with understanding your current strengths and weaknesses. Analyze customer demand and identify areas where you can improve or innovate. Using top market research services can provide valuable insights into what your existing customers need, helping you to identify potential market gaps that can be addressed with deliberate improvements.

3. Tune into consumer trends

Don’t just start looking for gaps in the market when business is slow, or you feel like a new product would boost revenue. Constantly staying updated with the latest market trends is essential if you want to stay ahead. Make sure you always have a toolbox on hand that enables you to quickly recognize trends, and act on it.

Platforms like Attest’s help you monitor trends in your industry and in consumer behavior. By examining what your target audience is talking about, what your competitors are doing and how your customers feel about your current offering, you’ll be the first one to know if there are any gaps in the market that your existing products or new features can address.

Want a quick start? Check out our industry report on 2024 consumer trends.

Practical tips for tuning into trends

There are, of course, countless trends out there. Some will stick around, but a lot are just fleeting. So how do you determine from your data whether something is a viable commercial opportunity?

• Lean into AI and machine learning: Use advanced analytics to predict trends based on large datasets. This approach helps you identify subtle shifts in consumer preferences early on and look into the future, rather than just focusing on what’s happening now.
• Combine multiple data sources: Integrate and cross-check data from different tools and reports to get a comprehensive view of market trends to make sure you’re not missing any critical insights or misinterpreting any data. And make sure to use a mixture of primary and secondary data, not just secondary data – using primary data that is tailored to your objectives will make it exponentially more valuable to you.

4. Get feedback from your target audience

Often, the best ideas for features and product improvements come straight from your customers. Make them an integrated part of your innovation strategy, and regularly turn to them for advice. With a tool like Attest, you can gather detailed user insights on the regular. Their feedback allows you to meet market demands and drive business success.

As a best practice, use a combination of surveys, focus groups, and direct interactions to get the best insights. In those interactions, focus on what your target audience really wants, so you can design products that truly resonate with them, and turn customer feedback into a roadmap for success. If you’re looking for inspiration, check out these examples of consumer research done right.

5. Monitor consumer sentiment on social media

Social media is a goldmine for understanding consumer sentiment, especially in niche markets. With social listening tools you can monitor discussions to identify viable business opportunities and user pain points. This method can highlight gaps in the market that might not come up in surveys or interviews with customers, but rather reveal themselves in unprompted discussions with other consumers. Make sure to always dig deeper on what you find in social listening tools by following it up with surveys and interviews. Engaging with your existing customers on social media can also highlight areas where new features might be appreciated.

6. Keep track of industry laws and compliance

It’s often overlooked because it’s not necessarily the most exciting type of market research, but sometimes the law is simply the best place to start looking for gaps in the market. If you monitor legal news and are the first to know if any new legislation is coming up, you can ensure compliance by preparing your products quickly.

Make sure your team stays updated with industry knowledge, federal legislation, and pending legislation to spot opportunities for innovative solutions.

7. Consider international market expansion

If there’s no gap in your current market, have a look at expanding into international markets. You could deliver your existing product to fill a gap abroad, meeting new customer needs and expanding your customer base.

When you take your brand abroad, make sure you fully understand the nuances of international markets. This allows you to spot market gaps that might not be evident in domestic markets, and could make your product a viable business on a global scale. Check out our guide on international market analysis to start it off on the right foot.

8. Keep an eye on industry events, webinars and online communities

Talking to other people in your industry is often a great way to find out what gaps are being explored by others. Industry events, webinars and online communities are great for keeping up with market trends and spotting new business opportunities.

Networking with industry professionals can give you fresh ideas and insights into potential gaps in the market. Do make sure to validate your findings with solid market research, and don’t just act on hearsay.

9. Validate your ideas through research and concept testing

Before launching a new product or feature, validate your ideas through thorough research and concept testing. This ensures that your solutions meet market demands and are set up for success. Creative testing helps you refine your product ideas and gather feedback from potential customers, making sure that your new features are well-received by your target market. Get started with our product research survey template.

Examples of gaps in the market you might find

When looking for a market gap, keep your eyes open to the different types of gaps that can exist.

They might not always seem super obvious, and people tend to go into this type of market research with some bias or assumptions. Knowing that there are different types of opportunities to look out for gives you a competitive edge. Here are some to consider.

1. Simplified versions of complex products

It’s not your lack of skills: tech products are getting increasingly complicated. Which also means there’s a growing demand for simplified versions. Consumers often look for products that strip away unnecessary features and focus on core functionality.

For instance, some users might want a smartwatch that only tracks steps and doesn’t include advanced health metrics like heart rate or stress levels. Another example could be clothing items, where customers prefer a simple design without extra frills or complicated elements.

Filling this type of gap addresses user pain points and offers a straightforward, user-friendly alternative to over-engineered products.

2. Sustainable alternatives

With the increasing focus on sustainability, there’s a significant opportunity to create eco-friendly versions of products that are traditionally seen as unsustainable. Or in some cases: products or services that people are just finding out are harmful to the environment.

For instance, a green web hosting service caters to businesses and individuals looking to reduce their carbon footprint. Other examples include biodegradable phone cases or eco-friendly office supplies.

These sustainable alternatives meet customer demand for greener products and enhance your brand’s image as environmentally conscious.

3. Business versions of consumer products (and vice versa)

Sometimes, there’s a clear gap for a business-oriented version of a consumer product, or a consumer version of a traditionally B2B product.

For example, project management software often designed for businesses could be simplified and marketed for personal use, helping individuals manage their tasks and schedules more effectively.

Conversely, a consumer product like a smart home security system could be adapted for small business use, offering features tailored to business security needs. Identifying these cross-market opportunities can open up new customer bases and increase your market reach.

4. Products for emerging demographics

As demographics shift, new market gaps emerge, and so do new target customers. Products designed specifically for the needs of aging populations, such as user-friendly tech gadgets for seniors, or products aimed at the growing market of young urban professionals, like compact, space-saving furniture, can meet specific needs.

5. Customizable and personalized solutions

There’s an increasing demand for products that offer customization and personalization. Consumers want products that can be tailored to their preferences, such as customizable meal plans in subscription boxes or personalized skincare products based on individual skin types. Take a look at products you use daily and think about what personalization would

Find a market gap with the right tools

Finding a gap in the market is the first step to business success. The second one is validating it with consumer research for a new product. With Attest, you get access to the tools that help you do just that, plus a dedicated research expert to turn your project into a success. Curious to see where market research can lead your business? Get in touch today.

Find the next big gap in your market

Discover what your target customers are searching for, so you can capitalize on that market gap – here are the top market analysis tools for B2C brands

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These solutions and services bring benefits by the boatload, including fast, quality insights into consumer behavior, trends, and into how your competition is performing. By providing easy-to-interpret data, they empower you and your colleagues to make informed decisions. The right tool saves valuable time and resources, allowing you to focus on your core business.

Sounds good? Since every business has different needs, we’ve compiled a list of options to find one that fits you.

Here’s the summary of services in our list:

Get quality consumer insights fast with Attest

Make sure you’re giving customers the products and services they want! Gather reliable insights with Attest to make better decisions for your business.

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1. Attest

The strength of market research tools and surveys is most obvious when you use them proactively, quickly, and with the right questions—Attest makes all of that easy. Our intuitive platform helps you spot shifts in the market landscape, allowing you to stay a couple of steps ahead of competitors and make informed strategic decisions that help your companies like yours offer consumers more of what they want.

One of the key advantages Attest customers love is how we’ve combined an easy-to-use survey platform and designated research advice to give you a truly comprehensive market research service. Whether your job title includes junior or chief, our platform gives you what you need to gather reliable consumer research quickly.

Key features:

• All our packages come with a designated research manager who advises you in how best to create the perfect survey, how to analyze your respones, and how to move forward with your market research projects.
• Send your surveys to a representative audience of 150+ million people in 59 countries. Customize your survey audience with precise targeting options to ensure highly relevant results.
• We give you consumer insights you can trust by combining multiple high-quality sample sources. With three layers of quality control—including human and machine-learning processes—you can confidently use your responses for informed business decisions.

Average Rating (G2): 4.5 out of 5

Pricing: Find out more about Attest pricing.

We use the data from Attest to engage with prospects or existing clients and bring them global insights – that’s something that was missing in the past. It provides support to our teams to have discussions with key clients. They have been impressed with our ability to pull out industry data that quickly.

Jim Dores, International Marketing Manager, JCDecaux OneWorld

Start gathering consumer insights you can trust

With Attest you get reliable consumer insights fast, and you get designated research advice at every step to make sure your research project is as good as it can be!

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2. SurveyMonkey

SurveyMonkey is an online survey tool with a user-friendly interface and a wide range of customizable survey templates.

Key features:

• Create surveys effortlessly using the platform’s user-friendly interface and customizable templates.
• Pick from a range of question types to gather the specific information you need, including multiple-choice, rating scales, open-ended, and more.
• Analyze survey results in real-time using built-in tools and generate insightful reports to uncover trends and patterns from the collected data.

Average Rating (G2): 4.4 out of 5 stars

Pricing: their cheapest plan, Team Advantage, starts at $25 per user per month, with a minimum of 3 users to get started with. 

3. Typeform

Typeform is the tool that makes market research looks good on both ends. It stands out with its sleek and interactive survey design, forms and quizzes that enhance respondent engagement and improve response rates.

Key features:

• Create engaging research with dynamic and interactive elements such as conditional logic, multimedia content and conversational interfaces.
• Typeform surveys are optimized for mobile devices, ensuring a seamless experience for respondents across various platforms.
• Collect, analyze and export survey data with Typeform’s intuitive data management tools, including built-in analytics and integration options for seamless data transfer.

Average Rating (G2): 4.5 out of 5 stars.

Pricing: The most basic plan starts at 25 USD per month but only allows for 100 monthly responses. The business plan costs 83 dollars and will let you receive 10,000 responses.

4. Suzy

Suzy is a versatile market research tool for US-based businesses. It makes it easy to collect qualitative data and customer feedback and conduct user research, offering a variety of research methods, like 1-1 video interviews and survey questions—almost like focus groups.

Key features:

• Survey templates help you get started in seconds.
• Make your surveys match your branding, thanks to the customization options.
• Conduct live interviews with people anywhere.

Average Rating (G2): 4.7 out of 5 stars

Pricing: Reach out to their team for info on pricing.

Psst: looking for UK solutions and services? Check out these UK market research companies.

5. Gartner

Gartner is a leading global research and advisory firm focusing on technology and market trends.

Key features:

• Gartner’s team of analysts and experts possess deep industry knowledge and provide valuable insights and recommendations to help businesses navigate complex market dynamics.
• Access Gartner’s extensive library of research reports, which cover a wide range of topics, including technology trends, market forecasts and strategic insights.
• Benefit from Gartner’s advisory services, where businesses can engage with experts for personalized guidance, strategy development, and implementation support.

Average Rating (G2): 4 out of 5 stars

Pricing: This varies per project, so reach out to Gartner for a quote

6. Pollfish

Pollfish is a market research tool that works best for sending short surveys, quickly testing a concept, and tracking brand metrics or customer satisfaction.

Key features:

• AI-powered surveys mean you get super quick support in creating surveys.
• Mobile-optimized surveys are sent to respondents when they are using a third-party app.
• Easy concept testing capabilities to quickly validate assets like logos.

Average Rating (G2): 4.4 out of 5 stars

Pricing: Their cheapest plan starts at $95 which allows you to collect up to 100 completed surveys with up to 5 questions.

7. Nielsen

Nielsen is one of the biggest global analytics companies. They are best known in the US for the famous Nielsen ratings, measuring the audiences for television, radio and newspapers in media markets.

Key features:

• Nielsen offers audience measurement solutions that provide detailed information on consumer demographics, media consumption habits, and advertising effectiveness.
• Nielsen’s retail measurement services provide valuable insights into consumer purchasing behavior.
• Nielsen brings on board extensive data and advanced analytics capabilities for expert research.

Average Rating (G2): No rating available.

Pricing: Every project is different, so pricing is too. Reach out to Nielsen for a quote.

8. Google Trends

Google Trends is a completely free market research tool that lets you compare trends and watch them evolve. You can uncover basic yet useful data on the interest in specific products, brands and other keywords.

Key features:

• Search term analysis over time lets you see how frequently a term is being searched and where in the world it’s most popular.
• The related topics and queries feature will give you an idea of the other search terms closely related to your original search term to give context to trends.
• Compare multiple search terms, you can see how your brand stacks up against the competition.

Average Rating (G2): 4.5 out of 5

Pricing: Free

9. Remesh

Focus groups with 1,000 people sounds like chaos and not focused at all, but with Remesh it is possible. They let you gather qualitative feedback at a quantitative scale for several research applications, thanks to AI.

Key features:

• Remesh works like scalable focus groups. You can launch a live conversation with an audience that is relevant to you, with up to 1,000 target customers at once.
• Ask in-depth questions to many people at once and let live AI analysis uncover trends and themes, compare responses and segment your audience, all automatically.
• Different question types mean you can keep the conversation flowing with open-ended questions and polls and even add visuals to clarify what you are asking about.

Average Rating (G2): 4.2 out of 5 stars

Pricing: You can get pricing info by requesting a demo.

10. Latana

Latana is a market research tool with a focus on tracking brand performance. You can uncover your growth potential by calculating market size, define purchase drivers and measure brand awareness and how it changes after you launch new campaigns.

Key features:

• Industry benchmarking helps you understand where your brand ranks by comparing your KPI data against your competitors in an interactive dashboard.
• Latana works with mobile-first micro surveys which consumers can access through in-app surveys.
• An MRP algorithm selects the right audience for your business, increasing data quality.

Average Rating (G2): No rating is available yet.

Pricing: Book a demo with Latana to find out more about their pricing and plans.

11. Qualtrics

Qualtrics is an all-in-one market research solution with different tools and platforms for your research needs.

Key features:

• Survey tool with audience management where you can purchase access to millions of respondents through Qualtrics.
• Analyze your existing data with statistical tests and watch how Qualtrics churns out data visualizations.
• A variety of market research tools to research purchase behavior, market segmentation, competitor analysis benchmarking and more.

Average Rating (G2): 4.4 out of 5 stars

Pricing: There’s a free survey maker that lets you gather 500 responses. Request a demo for all other market research tools to learn more about pricing.

Which market research service is best for you?

When choosing a right market research solution, think about how much you want to invest in the research process in terms of time, effort and budget. Look for a platform that offers a streamlined experience and provides dedicated support and reliable data, but also leaves you in control of the process.

That’s where Attest’s market research services come in. With our easy-to-use platform and the support of a dedicated research manager, you can conduct thorough, reliable research at speed. Try our product research or market analysis template to get a feel of it all.

Looking for market research agencies in different states? Check out our other regional guides:

• Top Market Research Agencies in Los Angeles
• Market research companies in Boston

See how to gather reliable insights fast with Attest

Schedule a demo with our research experts to see how you can use Attest to make better decisions for your customers (and for your business!)

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