Vypr, a Manchester-based product intelligence platform, expands to the US market, marking a significant growth milestone.
- Anticipated to quadruple turnover within three years, Vypr aims to create 30 international jobs and numerous UK positions.
- The US market offers a substantial opportunity, with over half of global market research spend occurring there.
- Vypr’s proprietary consumer panels offer quick and accurate consumer insights, differing from traditional methods.
- The expansion follows Vypr’s successful launch in Australia, enhancing its presence in key global markets.
Vypr, renowned for providing actionable consumer insights, has announced its strategic expansion into the US market, a move anticipated to significantly bolster its operations. With this expansion, the company aims to capitalise on a market where over 56% of global market research expenditure is concentrated, presenting unparalleled opportunities for growth. The expansion is expected to enhance Vypr’s revenues markedly, aligning with their recent performance which saw revenues more than quadruple following investment from YFM Equity Partners in 2021.
Propelled by the need to offer clients enhanced services, Vypr projects a quadrupling of its turnover, alongside creating over 30 new international roles, many of which will be situated within the UK. This is a testament to Vypr’s robust business model and its unwavering commitment to leveraging new markets for sustained growth.
In 2023, the global market research sector witnessed spending exceeding £100bn ($137bn), according to ESOMAR, with the market expanding at a rate of 6% per annum. Given the heavy concentration of market research activities in the US, this region represents a pivotal area for Vypr to explore, particularly in terms of accessing diverse and dynamic consumer bases.
Vypr’s expansion is underscored by its proprietary consumer panels, which provide tailored and highly precise insights. Unlike conventional market research methodologies, Vypr utilises behavioural science, allowing for more in-depth understanding and refining of consumer products. This nuanced approach ensures brands can access previously elusive demographic segments, thereby enhancing product targeting and positioning.
Building on its recent successful entry into the Australian market, Vypr continues to enhance its global footprint. This strategic decision signifies Vypr’s commitment to maintaining competitive advantage and expanding its influence in crucial sectors such as Retail, Food & Drink, and Health & Beauty. The presence of US-based, globally trading clients like Kraft Heinz and Starbucks further amplifies Vypr’s strategic foresight.
Vypr’s expansion into the US market marks a pivotal step forward, reinforcing its global market leadership in providing actionable consumer insights.
