GenAI vs Market Research: Optimising Your Insights Strategy

  Business question

GenAI tools

Market research

What’s the size of my industry or category in a given market?

GenAI can quickly pull together rough, directional estimates for a quick turnaround. 

Size estimates will come only from public sources that are limited by outdated or incomplete data, lack of access to proprietary sources and inconsistent definitions.

For accurate sizing, a mixed-method approach leveraging public, proprietary and primary data is critical. 

This allows for a more robust view of the market and consistency in definition. It provides reliable insights and custom cuts, particularly for hard-to-reach, niche markets. 

What’s the size and brand share in each channel or specific retailers?

(eg, DTC, brick-and-mortar stores, e-commerce)

Finding reliable, publicly available e-commerce or retailer-specific data is difficult. 

A known limitation of GenAI is what data it can access. This is particularly limited when it comes to smaller brands, specific retailers and e-commerce. This data tends not to be publicly available.

Proprietary data enables the granularity needed to analyse specific channels. 

Research specialists use proprietary datasets, established retailer partnerships and advanced web extraction to provide precise sizes and brand shares—even for specific retailers. They validate sources, integrate multiple data streams and tailor insights to your exact needs.

What’s the forecasted growth and drivers of my industry or category?

GenAI-only forecasts reflect historical data rather than robust predictive modelling. 

The lack of proprietary insights—along with limitations in its ability to explain the assumptions or scenarios behind the numbers—result in unreliable, long-term projections.

The most reliable forecasts combine historical data with deep, in-market expertise. 

Research specialists provide context, challenge assumptions and add real-world perspective. At Euromonitor International, our network of 100+ in-country analysts deliver on-the-ground intelligence and a unique local lens, leading to more accurate and credible predictions than data alone can offer.

Should we expand our product—and if so, in which markets and through which channels?

A key benefit of GenAI’s deep research tools is speed, which can provide quick steering to help you narrow your options.

However, its recommendations may lack nuance, local context and validation, making these tools better suited for early exploration than final decisions. GenAI can sometimes produce generic or incorrect insights due to hallucination, risking unreliable recommendations.

Human-based market intelligence brings trusted expert judgment, industry experience and local context to strategic decisions. 

Research specialists and consultants have a deep understanding of your business and specific needs and challenges. This allows them to make recommendations tailored to achieving your unique goals.

What risks, barriers or challenges might we face in entering these markets or channels?

GenAI tools can identify common risks using general market knowledge but often struggle to pinpoint real-time or context-specific threats. 

It’s risky to rely on overly generic results that lack the market- or segment-specific granularity needed to avoid market-entry pitfalls and gain a competitive edge.

Staying attuned to real-time market signals is crucial for identifying emerging challenges.

With researchers and in-market experts, analysis can be aligned to real-time developments like distribution bottlenecks or other country- and segment-specific risks—resulting in more tailored, competitive recommendations.