Podcast 5: The Power of Small Samples
How can you spot emerging consumer trends before they show up in statistics?
This podcast focuses on ethnography, the processes involved with finding the right people to build a holistic picture on future trends. To understand more about how these powerful, relevant insights are generated, Tassos Stassopoulos speaks to Gita Ghate, Third Eye’s founder, about her many years working with global consumer companies to understand trends in India.
Last year we studied Millennial and Gen-Z youth, we worked 14-hour days over a 10-day period to study extensively 32 individual lives. How is that a representative sample? [0:29]
Difference between quantitative surveys and ethnographic studies? [2.00]
What is the process you go about in identifying trends ahead of the curve? [3.35]
Our planning starts 6-months ahead of the ethnographic study. Can you run us through from the ethnographer’s side the planning that takes place over those 6 months? [5.07]
How ethnographers use demographic and psychographic questionnaires to identify early adopters from a wider population sample whose lives we will study through ethnography [5.59]
We have worked together on ethnographic studies for close to a decade. In more recent times, digital profiling through social media is coming into the selection process of people to study. Can you run us through how that works? [7.13]
How you control risk that the person selected is not representative though backups [7.45]
People in financial services ask “is this not anecdotal? Is this not a small sample? How do you assess?” [8.24]
Insight helps you understand and Foresight that helps you predict. [9.11]
Political parties that win elections are good at Foresighting [9.50]
In the last few years we have been working together on how we anticipate what consumers will tells us even before we they tell us during ethnographic studies by talking to people who come to shape the discourse in these countries [10.18]
Having done a number of studies of Women Empowerment through Uttar Pradesh, Telangana and Rajasthan, a couple of years ago you asked me to watch a movie “Dangal” which you felt it was changing the attitudes. What made you feel that was the beginning of something? [11.55]
The individuals we study their lives, do they get paid? [14.14]
What backgrounds do your ethnographers have? [15.27]
Building a community through ethnography with your respondents [16.42]
Misconceptions about type of questions you ask in ethnography [17.25]
Have Emerging Markets had their run? [18.15]
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of Trinetra Investment Management LLP and are subject to revision over time. Trinetra is authorised and regulated by the Financial Conduct Authority in the United Kingdom.