Indian Market Research Industry with Sheetal Choksi of Unpac Research

·42 min·4 clips

Sheetal Choksi explains why a veteran researcher got offended when she called it 'market research' instead of 'consumer research'.

Anupam Gupta introduces the episode as part of a sub-series on how businesses are run, with guest Sheetal Choksi, founder of Unpack Research. Choksi first mentions her own podcast, Three Techies Banter, aimed at simplifying technology. She then details her career transition from advertising client to freelance researcher, eventually starting Unpack Research in 2016. Gupta asks about her average day, which she says now aims for four to five hours of work, focusing on business acquisition, proposal writing, and moderation. Choksi clarifies she does qualitative consumer research, not equity research, using tools like focus groups and depth interviews to explore motivations. She explains research applications across industries, from coffee branding to mutual fund app adoption. A key example involves packaging research for a tea company, where wet Indian kitchens necessitate waterproof materials. Choksi describes the process, including recruitment costs, moderation in three languages, and facility fees. She notes the industry includes large players like Kantar but highlights opportunities for smaller qualitative specialists. For aspiring researchers, she emphasizes curiosity, observation without judgment, and comfort with people from diverse backgrounds. The discussion turns to trends, with Choksi noting a shift to online research post-pandemic and the use of AI tools like ChatGPT for kickstarting projects. She contrasts generational behaviors, revealing Gen Z's savings focus due to economic uncertainties. Gupta asks about the middle class, and Choksi cautions against oversimplifying it into one category. She concludes with advice for entrepreneurs, suggesting separating passion from business and knowing when to quit. The episode wraps with her favorites, including Nespresso coffee and the book 'Prompt for Brands'.

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