Manchester-based product intelligence firm Vypr is poised to expand into the US market, setting expectations for a fourfold increase in turnover over the next three years. This strategic move, which aims to provide US consumer insights, will also create over 30 international job opportunities, with many more expected in the UK.
Vypr, known for offering rapid and actionable consumer insights to global brands, has already quadrupled its revenues since 2021, following an investment by YFM Equity Partners. The company has primarily catered to the UK market, and the US expansion is anticipated to maintain its strong growth trajectory.
In 2023, global spending on market research services amounted to over £100 billion ($137 billion), growing at a rate of six per cent annually, according to ESOMAR. The US dominates this market with 56% of the global spend, which is over six times that of the UK, the second-largest market. The US presence will build on Vypr’s recent expansion into the Australian market and its existing services in the UK and Europe, delivering cost-effective consumer insights across various sectors, including Retail, Food & Drink, Health & Beauty, Automotive, and Professional Services.
Vypr’s clients in the UK and Europe include industry giants such as Costa Coffee, Ella’s Kitchen, and Marks & Spencer. Additionally, US-headquartered clients like Kraft Heinz and Starbucks are already operating in these regions. The CEO of Vypr, Chris Williams, stated, “US expansion is the inevitable next step for us and will accelerate our already impressive trajectory. We predict our turnover to quadruple over the next three years, as we capitalise on the excellent market opportunity and take our first-class product intelligence platform across the pond.”
Vypr’s expansion into the US market is a calculated move, aimed at leveraging the substantial market opportunities and continuing its robust growth. With a promising forecast for turnover and job creation, the company is well-positioned to make a significant impact in the consumer insights sector.
